Cabot Phillips

For context, China produces upwards of 60% of the world's rare earth minerals and 90% of all rare earth magnets, which are crucial for high-tech chips, semiconductors, batteries, and car manufacturing.

For context, China produces upwards of 60% of the world's rare earth minerals and 90% of all rare earth magnets, which are crucial for high-tech chips, semiconductors, batteries, and car manufacturing.

The White House says the fact America is so reliant on Chinese products in the first place shows just how crucial it is that we increase American manufacturing or at least form stronger trade alliances elsewhere. Stateside, President Trump made big news over the weekend, announcing that electronics like smartphones and laptops will temporarily be exempt from tariffs.

The White House says the fact America is so reliant on Chinese products in the first place shows just how crucial it is that we increase American manufacturing or at least form stronger trade alliances elsewhere. Stateside, President Trump made big news over the weekend, announcing that electronics like smartphones and laptops will temporarily be exempt from tariffs.

That's a major relief to tech giants like Apple, Nvidia, and Microsoft. The White House said those exemptions would be temporary. Presumably, they're sending a message to Beijing that they better make a deal before they become permanent.

That's a major relief to tech giants like Apple, Nvidia, and Microsoft. The White House said those exemptions would be temporary. Presumably, they're sending a message to Beijing that they better make a deal before they become permanent.

Well, it's still early. Remember, the White House has been saying all along there will be short-term pain and that it will take time for these measures to fully pay off. But to this point, it's been a mixed bag with the public.

Well, it's still early. Remember, the White House has been saying all along there will be short-term pain and that it will take time for these measures to fully pay off. But to this point, it's been a mixed bag with the public.

On the negative side for Trump, a big CBS poll this weekend showed that just 42% of Americans favor tariffs compared to 58% who oppose, while his approval rating on the economy fell to 44%. Similarly, the University of Michigan's closely watched Consumer Sentiment Index fell 11% to its lowest point since the height of COVID.

On the negative side for Trump, a big CBS poll this weekend showed that just 42% of Americans favor tariffs compared to 58% who oppose, while his approval rating on the economy fell to 44%. Similarly, the University of Michigan's closely watched Consumer Sentiment Index fell 11% to its lowest point since the height of COVID.

Americans cited the potential for rising inflation and unemployment as their biggest areas of concern. For their part, though, the White House says those concerns are being driven more by fear-mongering from the media and Democrats.

Americans cited the potential for rising inflation and unemployment as their biggest areas of concern. For their part, though, the White House says those concerns are being driven more by fear-mongering from the media and Democrats.

They argue that inflation is falling and markets are recovering, and that President Trump will soon secure historic deals with trading partners that will benefit the economy. Here's National Economic Council Director Kevin Hassett on CNN.

They argue that inflation is falling and markets are recovering, and that President Trump will soon secure historic deals with trading partners that will benefit the economy. Here's National Economic Council Director Kevin Hassett on CNN.

And as for the good news for the president, that CBS poll I mentioned earlier found that nearly 60% of Americans believe he's using tariffs as a negotiating tool. So that message does seem to have gotten through. But most notably, Quinnipiac found that Republicans and Democrats are now tied on the question of which party cares more for the needs of people like you.

And as for the good news for the president, that CBS poll I mentioned earlier found that nearly 60% of Americans believe he's using tariffs as a negotiating tool. So that message does seem to have gotten through. But most notably, Quinnipiac found that Republicans and Democrats are now tied on the question of which party cares more for the needs of people like you.

For decades, Democrats have had a massive times 20 point lead on that question. So it's big. It appears more and more Americans view Republicans as caring about the needs of average folks. That is a generational shift that's indicative of where Trump is trying to take the party economically.

For decades, Democrats have had a massive times 20 point lead on that question. So it's big. It appears more and more Americans view Republicans as caring about the needs of average folks. That is a generational shift that's indicative of where Trump is trying to take the party economically.

Yeah, Trump dominated social media Saturday night after making a surprise appearance at the UFC event in Miami. Have a listen.

Yeah, Trump dominated social media Saturday night after making a surprise appearance at the UFC event in Miami. Have a listen.