Caller 3

ideologically for someone like Navarro, and Navarro is the important figure here, like, Navarro just wants China destroyed, right? There's no actual negotiating process that he can do that will actually sort of, like, make this, like, negotiation shit happen and have it actually, like, eliminate the tariffs.

The only thing that can happen, basically, is a political battle inside the Trump administration where Navarro gets pushed out somehow. But again, Navarro is, like, Trump's guy. So... I just don't buy all of this, all of the fucking stories that are coming out. And this happens constantly.

The only thing that can happen, basically, is a political battle inside the Trump administration where Navarro gets pushed out somehow. But again, Navarro is, like, Trump's guy. So... I just don't buy all of this, all of the fucking stories that are coming out. And this happens constantly.

The only thing that can happen, basically, is a political battle inside the Trump administration where Navarro gets pushed out somehow. But again, Navarro is, like, Trump's guy. So... I just don't buy all of this, all of the fucking stories that are coming out. And this happens constantly.

Every single time there's one of these things, there's all these stories being like, well, they're going to get rolled back. It doesn't actually mean this. And that just happens, right? We have 145% tariffs on China. Now, the last thing I want to talk about is what the actual effect of this has been.

Every single time there's one of these things, there's all these stories being like, well, they're going to get rolled back. It doesn't actually mean this. And that just happens, right? We have 145% tariffs on China. Now, the last thing I want to talk about is what the actual effect of this has been.

Every single time there's one of these things, there's all these stories being like, well, they're going to get rolled back. It doesn't actually mean this. And that just happens, right? We have 145% tariffs on China. Now, the last thing I want to talk about is what the actual effect of this has been.

And the effect has been there's been a massive slowdown and a massive shutdown in exports from China to the U.S., like in terms of container ship traffic, right? We're talking about, I'm just going to quote from CNBC here. So they're talking about Optimizer, which is like a tracking system for ships.

And the effect has been there's been a massive slowdown and a massive shutdown in exports from China to the U.S., like in terms of container ship traffic, right? We're talking about, I'm just going to quote from CNBC here. So they're talking about Optimizer, which is like a tracking system for ships.

And the effect has been there's been a massive slowdown and a massive shutdown in exports from China to the U.S., like in terms of container ship traffic, right? We're talking about, I'm just going to quote from CNBC here. So they're talking about Optimizer, which is like a tracking system for ships.

And they said, quote, year on year, the data shows a 44% drop in vessels scheduled to arrive the week of May 4th to May 10th. Now, that's not actually necessarily a 40% drop in traffic because there'll be more shit when other boats get full. But to put this into perspective, during the worst Ford trade, the worst parts of the COVID lockdowns, the year-on-year drop was only 20%.

And they said, quote, year on year, the data shows a 44% drop in vessels scheduled to arrive the week of May 4th to May 10th. Now, that's not actually necessarily a 40% drop in traffic because there'll be more shit when other boats get full. But to put this into perspective, during the worst Ford trade, the worst parts of the COVID lockdowns, the year-on-year drop was only 20%.

And they said, quote, year on year, the data shows a 44% drop in vessels scheduled to arrive the week of May 4th to May 10th. Now, that's not actually necessarily a 40% drop in traffic because there'll be more shit when other boats get full. But to put this into perspective, during the worst Ford trade, the worst parts of the COVID lockdowns, the year-on-year drop was only 20%.

And 20% is the number that's been being spread around the media for what roughly the drop looks like. For some companies, it's larger than others. And again, the tariff, we still haven't even seen the actual shocks of the tariffs yet. And we're already seeing a decline in exports from China that is, again, around the level of the lockdowns.

And 20% is the number that's been being spread around the media for what roughly the drop looks like. For some companies, it's larger than others. And again, the tariff, we still haven't even seen the actual shocks of the tariffs yet. And we're already seeing a decline in exports from China that is, again, around the level of the lockdowns.

And 20% is the number that's been being spread around the media for what roughly the drop looks like. For some companies, it's larger than others. And again, the tariff, we still haven't even seen the actual shocks of the tariffs yet. And we're already seeing a decline in exports from China that is, again, around the level of the lockdowns.

And I think people remember the kind of unhinged shit that that caused, right? And that's something that, you know, is only going to intensify. And the other part of this, right, is that the strategies right now for how this is being dealt with is moving through Vietnam, moving through Cambodia.

And I think people remember the kind of unhinged shit that that caused, right? And that's something that, you know, is only going to intensify. And the other part of this, right, is that the strategies right now for how this is being dealt with is moving through Vietnam, moving through Cambodia.

And I think people remember the kind of unhinged shit that that caused, right? And that's something that, you know, is only going to intensify. And the other part of this, right, is that the strategies right now for how this is being dealt with is moving through Vietnam, moving through Cambodia.

But if you remember the rates from the original sort of like turf tariffs from Liberation Day, right, like the tariff on Vietnam was like 100% or some shit. It was like 80%. I don't remember. I don't have exactly on the top of my head, but like...