David Marchese

and Israel? Well, you know, Donald Trump is a big fan of coercive diplomacy. So what's he done in recent weeks as they have gotten ready to have this discussion? He's taken the American fleet of B-2 bombers and he's put them on an American base that is within reach of Iran. And

and Israel? Well, you know, Donald Trump is a big fan of coercive diplomacy. So what's he done in recent weeks as they have gotten ready to have this discussion? He's taken the American fleet of B-2 bombers and he's put them on an American base that is within reach of Iran. And

And the Iranians know just what that plane means because it's the only plane capable of lifting this enormous bunker-busting bomb the U.S. developed just for Iranian and North Korean facilities. And the message to the Iranians is, if you don't strike this deal, this thing's going right through the deep underground facilities you have built.

And the Iranians know just what that plane means because it's the only plane capable of lifting this enormous bunker-busting bomb the U.S. developed just for Iranian and North Korean facilities. And the message to the Iranians is, if you don't strike this deal, this thing's going right through the deep underground facilities you have built.

That is the message the U.S. is sending. But I'm sure that there are some factions within Iran that says, this is a bluff. Donald Trump doesn't want to get sucked into another war in the Middle East.

That is the message the U.S. is sending. But I'm sure that there are some factions within Iran that says, this is a bluff. Donald Trump doesn't want to get sucked into another war in the Middle East.

Well, you know, Michael, for the Iranians, this is really a you bet your country moment. If they say, no deal, we can't put up with the American demands, then they still have the sanctions on them. They are vulnerable to the Israelis going to President Trump and saying, see, we told you they weren't serious. So the only solution here is a military one.

Well, you know, Michael, for the Iranians, this is really a you bet your country moment. If they say, no deal, we can't put up with the American demands, then they still have the sanctions on them. They are vulnerable to the Israelis going to President Trump and saying, see, we told you they weren't serious. So the only solution here is a military one.

On the other hand, if they do cap the program, then, of course, their entire position in the region as a power to be reckoned with is really harmed. So the Iranians are up for a really tough choice here. And their big question is, can they find a face-saving way to avoid military conflict? Can they manage an unpredictable President Trump and a diminished set of defenses?

On the other hand, if they do cap the program, then, of course, their entire position in the region as a power to be reckoned with is really harmed. So the Iranians are up for a really tough choice here. And their big question is, can they find a face-saving way to avoid military conflict? Can they manage an unpredictable President Trump and a diminished set of defenses?

David, good morning. I should say you are in Hong Kong, which is 12 hours ahead of us here in New York City. And I do want to share that when this story about the new tariffs on China broke at around 2 p.m. Eastern time on Wednesday, we here at The Daily were debating how early is too early to call you and wake you up. 5 a.m., maybe 6 a.m.

David, good morning. I should say you are in Hong Kong, which is 12 hours ahead of us here in New York City. And I do want to share that when this story about the new tariffs on China broke at around 2 p.m. Eastern time on Wednesday, we here at The Daily were debating how early is too early to call you and wake you up. 5 a.m., maybe 6 a.m.

But being the generous colleagues that we are, we decided to let you sleep in. But nevertheless, it's early. And thank you so much for being here with us.

But being the generous colleagues that we are, we decided to let you sleep in. But nevertheless, it's early. And thank you so much for being here with us.

So while you were sleeping, Trump announced a pause on his so-called reciprocal tariffs everywhere except for China. And you cover China for The New York Times. You've been following the standoff between the United States and China very closely. Just to start off, were you surprised by the news when you woke up?

So while you were sleeping, Trump announced a pause on his so-called reciprocal tariffs everywhere except for China. And you cover China for The New York Times. You've been following the standoff between the United States and China very closely. Just to start off, were you surprised by the news when you woke up?

Right. China will now be subjected to sort of a staggering figure, 125 percent tariff. That number has just been going up and up and up. What is the state of play in this trade war at the moment? Like, what is China's appetite for negotiating right now?

Right. China will now be subjected to sort of a staggering figure, 125 percent tariff. That number has just been going up and up and up. What is the state of play in this trade war at the moment? Like, what is China's appetite for negotiating right now?

So basically, because China has all of their eggs in this export basket, so to speak, they're extremely vulnerable if all of those exports suddenly become much more expensive to export.

So basically, because China has all of their eggs in this export basket, so to speak, they're extremely vulnerable if all of those exports suddenly become much more expensive to export.