Brian Schwartz

Well, I don't know if it's one word, but one phrase, short-term pain. That is what the administration concedes could happen.

Well, I don't know if it's one word, but one phrase, short-term pain. That is what the administration concedes could happen.

So short-term pain, I translate that into significant losses in the stock market, maybe some companies having some struggles with their earnings, and maybe some companies deciding that there may have to be some cuts, job cuts, because they have to figure out how to navigate these new trade waters post-Trump's announcement.

So short-term pain, I translate that into significant losses in the stock market, maybe some companies having some struggles with their earnings, and maybe some companies deciding that there may have to be some cuts, job cuts, because they have to figure out how to navigate these new trade waters post-Trump's announcement.

So short-term pain, I translate that into significant losses in the stock market, maybe some companies having some struggles with their earnings, and maybe some companies deciding that there may have to be some cuts, job cuts, because they have to figure out how to navigate these new trade waters post-Trump's announcement.

It's a big deal. It is an attempt to reorient the global trade order. I mean, there is no disputing that.

It's a big deal. It is an attempt to reorient the global trade order. I mean, there is no disputing that.

It's a big deal. It is an attempt to reorient the global trade order. I mean, there is no disputing that.

Yeah, the poster was a list of different countries. China, I believe, was at the top. The European Union, I remember the first few. The European Union was at the top. This is what Trump was trying to emphasize. And it was all a list of the tariffs they're going to levy on goods coming from those countries and regions of the world.

Yeah, the poster was a list of different countries. China, I believe, was at the top. The European Union, I remember the first few. The European Union was at the top. This is what Trump was trying to emphasize. And it was all a list of the tariffs they're going to levy on goods coming from those countries and regions of the world.

Yeah, the poster was a list of different countries. China, I believe, was at the top. The European Union, I remember the first few. The European Union was at the top. This is what Trump was trying to emphasize. And it was all a list of the tariffs they're going to levy on goods coming from those countries and regions of the world.

And at the time, reporters were given this pamphlet of not just that chart, but pages worth of tariffs that the president was moving to initiate on countries around the world. It was stunning because, you know, when I think back at it, I had never seen anything like this before.

And at the time, reporters were given this pamphlet of not just that chart, but pages worth of tariffs that the president was moving to initiate on countries around the world. It was stunning because, you know, when I think back at it, I had never seen anything like this before.

And at the time, reporters were given this pamphlet of not just that chart, but pages worth of tariffs that the president was moving to initiate on countries around the world. It was stunning because, you know, when I think back at it, I had never seen anything like this before.

I don't think any of us had seen something like this before, from a president to come out on stage, particularly a Republican president, and say, hey, this is what we're going to do to countries all over the place. It was a really fascinating and historic moment for governance in this country.

I don't think any of us had seen something like this before, from a president to come out on stage, particularly a Republican president, and say, hey, this is what we're going to do to countries all over the place. It was a really fascinating and historic moment for governance in this country.

I don't think any of us had seen something like this before, from a president to come out on stage, particularly a Republican president, and say, hey, this is what we're going to do to countries all over the place. It was a really fascinating and historic moment for governance in this country.

Yes, it was. I mean, the thing is, you know, as we were reporting this out, there were a bunch of different options we were aware of coming into this. We were aware of this idea where the president was considering a 20 percent or thereabouts universal tariff rate where a vast majority of countries would get hit with one tariff rate. Then the another option was to do this reciprocal type tariff.

Yes, it was. I mean, the thing is, you know, as we were reporting this out, there were a bunch of different options we were aware of coming into this. We were aware of this idea where the president was considering a 20 percent or thereabouts universal tariff rate where a vast majority of countries would get hit with one tariff rate. Then the another option was to do this reciprocal type tariff.

Yes, it was. I mean, the thing is, you know, as we were reporting this out, there were a bunch of different options we were aware of coming into this. We were aware of this idea where the president was considering a 20 percent or thereabouts universal tariff rate where a vast majority of countries would get hit with one tariff rate. Then the another option was to do this reciprocal type tariff.