Trump's Tariff Tango-The Art of the Deal

The Ben Ferguson Podcast

iHeartPodcasts

Politics, News, News Commentary

4.9 • 4.7K Ratings

🗓️ 10 April 2025

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Tariff Announcement:
- Trump announced a 125% tariff on China due to its retaliatory actions against the US.
- He also announced a 90-day pause on tariffs for countries that did not retaliate, with a reduced reciprocal tariff of 10%.
Market Reaction:
- The stock market reacted positively, with major indices like the Dow, S&P 500, and Nasdaq surging significantly.
- The announcement led to a dramatic rebound from previous losses triggered by bond yield spikes and global tariff escalations.
International Response:
- The EU, Canada, and China were highlighted for their retaliatory actions.
- Seventy-five countries were mentioned as negotiating with the US, seeking concessions or entering into trade discussions.
Economic Impact:
- The announcement influenced a strong $39 billion auction of ten-year Treasury notes, with high demand from foreign buyers.
- Analysts described the auction as extremely strong, indicating confidence in US debt despite global trade tensions.
Political Commentary:
- Various political figures and analysts, including Kevin O'Leary from Shark Tank, expressed strong opinions on the tariffs and their impact on China.
- The document includes criticism from John Bolton, who described Trump's tariff strategy as economic illiteracy.
Strategic Goals:
- Trump's strategy aimed to isolate China and encourage other countries to negotiate with the US.
- The administration's approach was framed as a national security measure to counter China's economic practices.

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Transcript

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0:00.0	The art of the deal.
0:02.4	That's the best way you can describe what is happening right now is Donald Trump has announced tariffs that are going to be paused for nations who aren't retaliating.
0:11.9	What happened to China?
0:13.7	China's rate has been cranked up to 125%.
0:18.1	Clearly making a statement that we want to work with everyone, but China, who is retaliating
0:24.2	against the U.S. And what happened on the stock market after the announcement? It soared immediately.
0:30.1	It is the world united against the Chinese Communist Party. If you want to talk about it from a
0:36.5	political aspect. Now, when the
0:38.6	announcement came through, this is what it sounded like on Fox News. All right, Fox News alert,
0:46.1	moving markets right now is a brand new true social out from President Trump. The Dow is surging
0:52.1	now at 1,500 points on this. President Trump has just put out a true social saying,
0:57.5	based on the lack of respect that China has shown to the world's markets, I am hereby raising the tariff charged to China by the U.S. to 125% effective immediately.
1:09.8	At some point, hopefully in the near future, China will realize that the days of ripping
1:13.5	off the USA and other countries is no longer sustainable or acceptable.
1:18.1	Conversely, and based on the fact that more than 75 countries have called reps of the United
1:23.4	States, including the Department of Commerce, Treasury, and the U.S.T.R to negotiate a solution to the
1:28.4	subjects being discussed relative to trade, trade barriers, tariffs, currency manipulation, and
1:33.3	non-monetary tariffs, and that these countries have not, at my strong suggestion, retaliated
1:40.8	in any way, shape, or form against the U.S. And here's the big news grabbing the headlines.
1:46.1	I've authorized a 90-day pause, capital letters, and a substantially lowered reciprocal
1:53.0	tariff during this period of 10% also effective immediately.
1:59.1	He finishes with, thank you for your attention on this matter.
	...

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