Molly Ball

and leaves him with his perpetual sub-50% approval rating. Now, Trump, as far as we know, can't run for re-election, despite some noises he's made in that direction. So the follow-up for this is really on Republicans.

and leaves him with his perpetual sub-50% approval rating. Now, Trump, as far as we know, can't run for re-election, despite some noises he's made in that direction. So the follow-up for this is really on Republicans.

and leaves him with his perpetual sub-50% approval rating. Now, Trump, as far as we know, can't run for re-election, despite some noises he's made in that direction. So the follow-up for this is really on Republicans.

Senator Rand Paul, Republican senator from Kentucky who is not a fan of tariffs, pointed out on Thursday that when the Smoot-Hawley tariffs went into effect in the 1930s, Republicans lost the House and Senate for 60 years. So... You do have Republicans pointing out that they think this would not be good for them politically. What the administration says is this is temporary.

Senator Rand Paul, Republican senator from Kentucky who is not a fan of tariffs, pointed out on Thursday that when the Smoot-Hawley tariffs went into effect in the 1930s, Republicans lost the House and Senate for 60 years. So... You do have Republicans pointing out that they think this would not be good for them politically. What the administration says is this is temporary.

Senator Rand Paul, Republican senator from Kentucky who is not a fan of tariffs, pointed out on Thursday that when the Smoot-Hawley tariffs went into effect in the 1930s, Republicans lost the House and Senate for 60 years. So... You do have Republicans pointing out that they think this would not be good for them politically. What the administration says is this is temporary.

These are essentially growing pains for the restructuring of the American economy. You had the Commerce Secretary Howard Lutnick on television on Thursday saying, give it six months and we're going to come out the other side and everything's going to be better. And we're going to have an America where we're We make things where people have better jobs, where things are less expensive.

These are essentially growing pains for the restructuring of the American economy. You had the Commerce Secretary Howard Lutnick on television on Thursday saying, give it six months and we're going to come out the other side and everything's going to be better. And we're going to have an America where we're We make things where people have better jobs, where things are less expensive.

These are essentially growing pains for the restructuring of the American economy. You had the Commerce Secretary Howard Lutnick on television on Thursday saying, give it six months and we're going to come out the other side and everything's going to be better. And we're going to have an America where we're We make things where people have better jobs, where things are less expensive.

So they're saying this is a little bit of an adjustment period and maybe the markets just don't get it. But in the end, everybody's going to be better off.

So they're saying this is a little bit of an adjustment period and maybe the markets just don't get it. But in the end, everybody's going to be better off.

So they're saying this is a little bit of an adjustment period and maybe the markets just don't get it. But in the end, everybody's going to be better off.

The signals that we are seeing is that people are already losing patience with this approach to the economy. Generally, when the economy goes south, the voters inflict a very swift and decisive verdict on whoever is in power, and they are not very interested in explanations about why it's somebody else's fault or why this is better for everyone in the long run.

The signals that we are seeing is that people are already losing patience with this approach to the economy. Generally, when the economy goes south, the voters inflict a very swift and decisive verdict on whoever is in power, and they are not very interested in explanations about why it's somebody else's fault or why this is better for everyone in the long run.

The signals that we are seeing is that people are already losing patience with this approach to the economy. Generally, when the economy goes south, the voters inflict a very swift and decisive verdict on whoever is in power, and they are not very interested in explanations about why it's somebody else's fault or why this is better for everyone in the long run.

Well, you know, I try never to predict what Trump is going to do. And I do think we should point out that even today, most of the tariffs still have not gone into effect. So there's always a chance they take it back at the last second. Obviously, there's a very intensive lobbying effort on the part of multiple governments and multiple industries to try to create carve-outs and get exceptions.

Well, you know, I try never to predict what Trump is going to do. And I do think we should point out that even today, most of the tariffs still have not gone into effect. So there's always a chance they take it back at the last second. Obviously, there's a very intensive lobbying effort on the part of multiple governments and multiple industries to try to create carve-outs and get exceptions.

Well, you know, I try never to predict what Trump is going to do. And I do think we should point out that even today, most of the tariffs still have not gone into effect. So there's always a chance they take it back at the last second. Obviously, there's a very intensive lobbying effort on the part of multiple governments and multiple industries to try to create carve-outs and get exceptions.

And that is one endpoint for this, is that it just becomes a sort of massive lobbying spree where people are able to get individual or country-based exemptions, and it actually ends up being far less than meets the eye at the end of the day. That being said, this reminds me very much of our discussion previously about the Transatlantic Alliance and the global security picture of

And that is one endpoint for this, is that it just becomes a sort of massive lobbying spree where people are able to get individual or country-based exemptions, and it actually ends up being far less than meets the eye at the end of the day. That being said, this reminds me very much of our discussion previously about the Transatlantic Alliance and the global security picture of