Economist

Just describe for us, let's take a beat, really frame it for us, how much volume has just dropped off in the last few weeks?

Just describe for us, let's take a beat, really frame it for us, how much volume has just dropped off in the last few weeks?

Just describe for us, let's take a beat, really frame it for us, how much volume has just dropped off in the last few weeks?

We'll, of course, dedicate time to your poor, but I'm just wondering how you're anticipating this rolls and ripples through the economy from here, how it hits trucking, when this turns up on the shelf. What's the distance, the time, from when you see a drop-off in volume and when we, as consumers, see the shortages?

We'll, of course, dedicate time to your poor, but I'm just wondering how you're anticipating this rolls and ripples through the economy from here, how it hits trucking, when this turns up on the shelf. What's the distance, the time, from when you see a drop-off in volume and when we, as consumers, see the shortages?

We'll, of course, dedicate time to your poor, but I'm just wondering how you're anticipating this rolls and ripples through the economy from here, how it hits trucking, when this turns up on the shelf. What's the distance, the time, from when you see a drop-off in volume and when we, as consumers, see the shortages?

We see across the industry about a 60% decline in ocean freight bookings from China to the U.S. Yeah, there's been a collapse of outbound freight out of China into the United States. It is really dark times for ocean shipping, especially.

We see across the industry about a 60% decline in ocean freight bookings from China to the U.S. Yeah, there's been a collapse of outbound freight out of China into the United States. It is really dark times for ocean shipping, especially.

We see across the industry about a 60% decline in ocean freight bookings from China to the U.S. Yeah, there's been a collapse of outbound freight out of China into the United States. It is really dark times for ocean shipping, especially.

The economy just doesn't work like a light switch. And that's the risk he takes if he is negotiating, is he could get something that looks like a good deal in the end, and it could be too late for the economy.

The economy just doesn't work like a light switch. And that's the risk he takes if he is negotiating, is he could get something that looks like a good deal in the end, and it could be too late for the economy.

It's so hard to answer when you don't know and markets don't know how long term the actual implementation of the tariffs will prove to be. It's one thing that some would argue is by design, but it's one thing that is characteristic of President Trump's kind of approach to this is a little bit of uncertainty, a little bit of chaos.

It's so hard to answer when you don't know and markets don't know how long term the actual implementation of the tariffs will prove to be. It's one thing that some would argue is by design, but it's one thing that is characteristic of President Trump's kind of approach to this is a little bit of uncertainty, a little bit of chaos.

No, I do not think stocks are due for a quick recovery if we are really moving to a long-term 34% impairment of global trade. We are really looking at taking potentially $500 billion out of US GDP in a year. Those things, if they were really to happen, you could argue that stocks have much more repricing to go. But of course, the upside risk is that you could also get an announcement in 48 hours

No, I do not think stocks are due for a quick recovery if we are really moving to a long-term 34% impairment of global trade. We are really looking at taking potentially $500 billion out of US GDP in a year. Those things, if they were really to happen, you could argue that stocks have much more repricing to go. But of course, the upside risk is that you could also get an announcement in 48 hours

They got some concessions or some sort of headline announcement that is reversing course on a lot of this. So it's all in flux when it comes to markets.

They got some concessions or some sort of headline announcement that is reversing course on a lot of this. So it's all in flux when it comes to markets.

I like what Secretary Besson has said to me privately and what he has said on the record publicly in the past about the fundamental problems in the economy being related to too high of debt and too low of growth.

I like what Secretary Besson has said to me privately and what he has said on the record publicly in the past about the fundamental problems in the economy being related to too high of debt and too low of growth.

I do not believe that one of the fundamental problems is what Secretary Lutnick is saying, that we, as a country that exports more services to the rest of the world than anybody but buys a little bit more goods, from the rest of the world than we sell to them, then that represents the core economic dysfunction of our economy.