Talking tariffs with Galen Druke and Mary Radcliffe (538 reunion!)
Why does Trump love tariffs — and are they likely to accomplish his policy goals?
Readers,
Let’s talk tariffs: Are they good? What are they good for? Is the policy Donald Trump has enacted achieving those goals? And what do people think about them?
I recorded a podcast Monday afternoon (after the S&P 500 had recovered from a 5% loss earlier in the morning) with Galen Druke and Mary Radcliffe — both former colleagues at 538. It’s like we’re getting the band back together!
Follow the link below to the full audio version of the podcast, and considering subscribing to Galen’s new Substack, GD Politics, for the full video recording.
Hoping to send more podcasts your way soon,
Elliott
The gang reunites! Really hope you guys (@Galen Druke) will do more collabs in the future.
As most of us know, Trump is about appearances and not about getting real things done. At his cruel and evil core, he's a Reality TV star playing the President and not actually a leader with plans.
The "Tariffs Crisis" he created is a perfect case in point for his performative, substance less presidency.
Here's how I think this will play out. Trump, having beat on his manly, gorilla chest with faux trade numbers, will 'Negotiate" with all our major trading partners to bring tariffs and deficits back to where they were two weeks ago.
This follows his NAFTA playbook.
Make a lot of noise. Look like a tough guy. Rename a major trade deal. Change nothing!
Perhaps markets will recover the majority of their losses in the next week. There will be some overhang because corporate America can't plan or invest in the face of the uncertainty Trump has created. We won't see real calm until the 3rd or 4th QT.
Tragically, Trump has achieved real damage:
1. His base and business supporters see a really "tough" guy helping the economy. (we see a weak, babyish fool)
2. The majority of American's will believe that America is being taken advantage of by all our trading partners.(false) And country to country trade deficits are bad. They're for suckers not winners like Donald.
Democrats need to sell the truth about Trump:
He's an untrustworthy steward of the American economy.
His misguided, pompous, megalomaniacal approach to Trade and the foreign relations is a serious threat to world peace and the prosperity of America.