Peter Baker

Exactly. And so here's this policy that's supposed to be about bringing jobs back to the United States, creating more jobs for blue collar workers. And we've taken aim at some jobs that are already here. We have injected greater anxiety, added more variables and uncertainty to this large multinational company that did exactly what they were supposed to be doing.

Exactly. And so here's this policy that's supposed to be about bringing jobs back to the United States, creating more jobs for blue collar workers. And we've taken aim at some jobs that are already here. We have injected greater anxiety, added more variables and uncertainty to this large multinational company that did exactly what they were supposed to be doing.

Nice little tech economy you got here. I hope nothing happens to it.

Nice little tech economy you got here. I hope nothing happens to it.

Because Europe is like the California of the world. It's the one market that's big enough that the standards that they set affect – the nature of business everywhere. Europe's huge. I mean, you're talking about 27 countries that extend from Greece to Ireland.

Because Europe is like the California of the world. It's the one market that's big enough that the standards that they set affect – the nature of business everywhere. Europe's huge. I mean, you're talking about 27 countries that extend from Greece to Ireland.

And if Europe, if they start to take a coherent approach to privacy and they start to look at taxation, that will be a significant problem for a very big chunk of the U.S. economy. And that would open up a vast new front in this global trade war.

And if Europe, if they start to take a coherent approach to privacy and they start to look at taxation, that will be a significant problem for a very big chunk of the U.S. economy. And that would open up a vast new front in this global trade war.

If they threaten access, they threaten new taxes, new regulations. Yes, that could be further force toward business leaders saying, hold on a second, we didn't sign up for this. We signed up for tax cuts and deregulation and business as usual. We didn't sign up for getting kicked out of our potentially largest market on earth.

If they threaten access, they threaten new taxes, new regulations. Yes, that could be further force toward business leaders saying, hold on a second, we didn't sign up for this. We signed up for tax cuts and deregulation and business as usual. We didn't sign up for getting kicked out of our potentially largest market on earth.

Oh, I think that's absolutely true. We don't know. And in fact, it's not at all clear that there's an appetite amongst business leaders who are afraid to cross MAGA. Whatever happens, tariffs, stock market falling. But I think it's fair to say that does seem to be part of the European strategy in terms of retaliation.

Oh, I think that's absolutely true. We don't know. And in fact, it's not at all clear that there's an appetite amongst business leaders who are afraid to cross MAGA. Whatever happens, tariffs, stock market falling. But I think it's fair to say that does seem to be part of the European strategy in terms of retaliation.

So the typical thing you retaliate on is you go after bourbon because you hit Mitch McConnell's home state of Kentucky. Right. You go after grains because you hit the upper Midwest and especially red states like, you know, Indiana and Nebraska. And so this is taking it to a new set of Trump allies if you go digital. Whether it will work is a whole other question.

So the typical thing you retaliate on is you go after bourbon because you hit Mitch McConnell's home state of Kentucky. Right. You go after grains because you hit the upper Midwest and especially red states like, you know, Indiana and Nebraska. And so this is taking it to a new set of Trump allies if you go digital. Whether it will work is a whole other question.

Well, the obvious place China goes is agriculture. They go after American farmers. Yeah. I mean, China buys a ton of soybeans from the U.S., and they have an alternative in that they can look to South America, especially Brazil and Argentina. There are other parts of agriculture that would likely get hit as well.

Well, the obvious place China goes is agriculture. They go after American farmers. Yeah. I mean, China buys a ton of soybeans from the U.S., and they have an alternative in that they can look to South America, especially Brazil and Argentina. There are other parts of agriculture that would likely get hit as well.

Okay, best case scenario. We see companies take the hit in terms of their margins, right? So Chinese suppliers, Mexican suppliers say, well, we want to maintain our market share in the U.S., so we will drop our price to the brands that are buying our stuff, and prices go up a little bit, but not as much as the tariff.

Okay, best case scenario. We see companies take the hit in terms of their margins, right? So Chinese suppliers, Mexican suppliers say, well, we want to maintain our market share in the U.S., so we will drop our price to the brands that are buying our stuff, and prices go up a little bit, but not as much as the tariff.

And in the meantime, the overall thrust of the policy works, and more investment comes into the U.S., builds more factories, we make more stuff in the U.S., and then eventually the suppliers follow their customers, and we're making the piece parts of industry in the U.S., And we get more jobs in four years. That is the rosiest possible picture you can imagine.

And in the meantime, the overall thrust of the policy works, and more investment comes into the U.S., builds more factories, we make more stuff in the U.S., and then eventually the suppliers follow their customers, and we're making the piece parts of industry in the U.S., And we get more jobs in four years. That is the rosiest possible picture you can imagine.