Jeff Stein

In return, China has threatened and imposed tariffs on a number of U.S. agricultural and other exports. Canada has threatened, although not yet imposed, retaliatory measures on electricity used by Americans in the north and other U.S. exports to Canada. Mexico has threatened or moved forward with, you know, a number of retaliatory tariffs that will hurt U.S. exports to our southern border.

In return, China has threatened and imposed tariffs on a number of U.S. agricultural and other exports. Canada has threatened, although not yet imposed, retaliatory measures on electricity used by Americans in the north and other U.S. exports to Canada. Mexico has threatened or moved forward with, you know, a number of retaliatory tariffs that will hurt U.S. exports to our southern border.

You know, when I talk to businesses, what they say overwhelmingly is, look, if we had any confidence that Trump was going to impose these tariffs and keep them, even that would be better than what is the current status quo, which is that business leaders don't know from one hour to the next what Trump is going to do. I mean, last week, Trump threatened 50% tariffs on Canadian steel and aluminum.

You know, when I talk to businesses, what they say overwhelmingly is, look, if we had any confidence that Trump was going to impose these tariffs and keep them, even that would be better than what is the current status quo, which is that business leaders don't know from one hour to the next what Trump is going to do. I mean, last week, Trump threatened 50% tariffs on Canadian steel and aluminum.

You know, when I talk to businesses, what they say overwhelmingly is, look, if we had any confidence that Trump was going to impose these tariffs and keep them, even that would be better than what is the current status quo, which is that business leaders don't know from one hour to the next what Trump is going to do. I mean, last week, Trump threatened 50% tariffs on Canadian steel and aluminum.

And by the end of the day, by the end of the day, just a few hours, those had been rescinded. And that means that nobody can plan, nobody can make investment decisions because how do you balance out what your sort of revenue and expenses projections will look like in six months if you don't know what the tariffs are going to be in a few hours?

And by the end of the day, by the end of the day, just a few hours, those had been rescinded. And that means that nobody can plan, nobody can make investment decisions because how do you balance out what your sort of revenue and expenses projections will look like in six months if you don't know what the tariffs are going to be in a few hours?

And by the end of the day, by the end of the day, just a few hours, those had been rescinded. And that means that nobody can plan, nobody can make investment decisions because how do you balance out what your sort of revenue and expenses projections will look like in six months if you don't know what the tariffs are going to be in a few hours?

And, you know, we've seen a real, real scary plunge in consumer confidence, in investment, in expectations of inflation from consumers and all these things happening. combined to suggest that there's a chance that the economy could just sort of fall off a cliff next quarter.

And, you know, we've seen a real, real scary plunge in consumer confidence, in investment, in expectations of inflation from consumers and all these things happening. combined to suggest that there's a chance that the economy could just sort of fall off a cliff next quarter.

And, you know, we've seen a real, real scary plunge in consumer confidence, in investment, in expectations of inflation from consumers and all these things happening. combined to suggest that there's a chance that the economy could just sort of fall off a cliff next quarter.

And when you talk to businesses who are saying that they're massively pulling back investment, that could filter through to the macro economy very quickly.

And when you talk to businesses who are saying that they're massively pulling back investment, that could filter through to the macro economy very quickly.

And when you talk to businesses who are saying that they're massively pulling back investment, that could filter through to the macro economy very quickly.

So what the president and his advisors have been sort of gesturing towards is an attempt to really rebalance the entire global financial system. And there has been a critique of America's role in global capitalism that's shared by large parts of the left and large parts of the labor movement.

So what the president and his advisors have been sort of gesturing towards is an attempt to really rebalance the entire global financial system. And there has been a critique of America's role in global capitalism that's shared by large parts of the left and large parts of the labor movement.

So what the president and his advisors have been sort of gesturing towards is an attempt to really rebalance the entire global financial system. And there has been a critique of America's role in global capitalism that's shared by large parts of the left and large parts of the labor movement.

And that critique is essentially that America has absorbed through its excess demand the manufacturing capacity and the productive capacity of the rest of the world.

And that critique is essentially that America has absorbed through its excess demand the manufacturing capacity and the productive capacity of the rest of the world.

And that critique is essentially that America has absorbed through its excess demand the manufacturing capacity and the productive capacity of the rest of the world.