Natalie Kitroweth

Can I just?

Can I just?

I just want to throw a wrench into things, which is I hear you that it is a well-designed, potentially, strategy for retaliation, but we just don't know how effective it's going to be. Because, for example, these tariffs that are hitting the auto manufacturers have been... a big deal for a long time now. These executives are not happy. They have been complaining about it.

I just want to throw a wrench into things, which is I hear you that it is a well-designed, potentially, strategy for retaliation, but we just don't know how effective it's going to be. Because, for example, these tariffs that are hitting the auto manufacturers have been... a big deal for a long time now. These executives are not happy. They have been complaining about it.

They've been going to the White House. What we've seen is that Trump has been surprisingly resistant to changing course, even though there have been big reactions on Wall Street and by executives. And so I'm not sure we know that these tech executives kind of going to Trump and complaining is going to really make a

They've been going to the White House. What we've seen is that Trump has been surprisingly resistant to changing course, even though there have been big reactions on Wall Street and by executives. And so I'm not sure we know that these tech executives kind of going to Trump and complaining is going to really make a

Part of the problem for China, and this is something that's been discussed on the show, is just that because of the trade imbalance between the two countries, China just buys so much less from the United States than it sells. Right. So there actually are fewer products for China to put tariffs on than, you know, for the U.S.

Part of the problem for China, and this is something that's been discussed on the show, is just that because of the trade imbalance between the two countries, China just buys so much less from the United States than it sells. Right. So there actually are fewer products for China to put tariffs on than, you know, for the U.S.

Like that's the nature of the very trade imbalance that Trump is trying to address.

Like that's the nature of the very trade imbalance that Trump is trying to address.

So the best case for North America and specifically for the two trading partners, for Canada and Mexico, is that the tariffs that were already announced that include a lot of goods go away or at least are significantly reduced so that there is a seriously preferential treatment to these two countries while, you know, Trump does whatever he wants with the rest of the world.

So the best case for North America and specifically for the two trading partners, for Canada and Mexico, is that the tariffs that were already announced that include a lot of goods go away or at least are significantly reduced so that there is a seriously preferential treatment to these two countries while, you know, Trump does whatever he wants with the rest of the world.

So that you see a real strengthening, as we talked about, of this North American trading bloc, which would hugely benefit all three countries. And you basically keep things the way they've been, you know, free trade in the North America lives. That's the best case. The worst case is, at least in Mexico, a recession and a really damaging one.

So that you see a real strengthening, as we talked about, of this North American trading bloc, which would hugely benefit all three countries. And you basically keep things the way they've been, you know, free trade in the North America lives. That's the best case. The worst case is, at least in Mexico, a recession and a really damaging one.

I mean, we're talking about a country that depends heavily on trade with the United States. Millions of jobs depend on it. This is not something that can be easily recovered by going to other markets. And so you could really see devastation across the board. We're talking about people potentially regressing into poverty from the middle class.

I mean, we're talking about a country that depends heavily on trade with the United States. Millions of jobs depend on it. This is not something that can be easily recovered by going to other markets. And so you could really see devastation across the board. We're talking about people potentially regressing into poverty from the middle class.

That's an unfair advantage, Peter. You write a book, you get to say it.

That's an unfair advantage, Peter. You write a book, you get to say it.

Thank you.

Thank you.