Rob Kaplan

This week, yeah.

This week, yeah.

So here's why these new trade deals, as they're announced, are going to be very informative. There are some number of capital committers in the market. And I talked to a number of them who believe this has all been a negotiating strategy and that tariffs are going to come down to closer to zero. I'm afraid.

So here's why these new trade deals, as they're announced, are going to be very informative. There are some number of capital committers in the market. And I talked to a number of them who believe this has all been a negotiating strategy and that tariffs are going to come down to closer to zero. I'm afraid.

That there's another scenario, which is the Trump administration wants the tariff revenue based on their comments. It's unclear how much money Doge is saving. Hopefully they'll do it. They'll say, but it's unclear. They want more tariff revenue and their objective may not be to negotiate down to zero. It might be negotiate down to 10 or 20 or 30.

That there's another scenario, which is the Trump administration wants the tariff revenue based on their comments. It's unclear how much money Doge is saving. Hopefully they'll do it. They'll say, but it's unclear. They want more tariff revenue and their objective may not be to negotiate down to zero. It might be negotiate down to 10 or 20 or 30.

And that is going to make the create significant challenges. And we don't know. exactly which way we're going, but you hear officials saying, we want the tariff revenue and how useful the tariff revenue is, particularly when they're talking about the tax bill and a desire to do more than extend the Trump tax cuts, to get tax on tips, tax on overtime, deductibility for buying a car.

And that is going to make the create significant challenges. And we don't know. exactly which way we're going, but you hear officials saying, we want the tariff revenue and how useful the tariff revenue is, particularly when they're talking about the tax bill and a desire to do more than extend the Trump tax cuts, to get tax on tips, tax on overtime, deductibility for buying a car.

And so I think there's some confusion in the market and it's affecting securities buying, the dollar, gold, treasuries, all these asset classes. Marc Thiessen All right.

And so I think there's some confusion in the market and it's affecting securities buying, the dollar, gold, treasuries, all these asset classes. Marc Thiessen All right.

I think the U.S. exceptionalism thesis is not dead. It's alive and well. But I think it's very critical that we come out of this period over the next few years having retained U.S. exceptionalism, the greatest companies in the world, the most innovative. I think our higher education system is one of the gems of the United States, an independent fed world. rule of law, predictability.

I think the U.S. exceptionalism thesis is not dead. It's alive and well. But I think it's very critical that we come out of this period over the next few years having retained U.S. exceptionalism, the greatest companies in the world, the most innovative. I think our higher education system is one of the gems of the United States, an independent fed world. rule of law, predictability.

I hope when some of these structural changes we've worked through, we want to get back where the world has confidence in the United States and we keep building many of our great strengths, which have put us in a position to outperform the world.

I hope when some of these structural changes we've worked through, we want to get back where the world has confidence in the United States and we keep building many of our great strengths, which have put us in a position to outperform the world.

I think there will be some repair to do, but I actually believe we can. We can do the damage control, but I think it will be broader than tariffs. It has to do with some of the decisions we're making on foreign policy, what we're doing with our own institutions. A number of these decisions, including tariffs, I think are central to that. And yes, we can come out of this with U.S.

I think there will be some repair to do, but I actually believe we can. We can do the damage control, but I think it will be broader than tariffs. It has to do with some of the decisions we're making on foreign policy, what we're doing with our own institutions. A number of these decisions, including tariffs, I think are central to that. And yes, we can come out of this with U.S.

preeminence and having strength in our country, but it will require a real focus on that as an objective and some prioritization of many of these structural changes.

preeminence and having strength in our country, but it will require a real focus on that as an objective and some prioritization of many of these structural changes.

Okay. So I talked about confidence in the institutional framework of the United States, rule of law, other significant aspects that people have come to rely on. One of those institutional staples has been an independent

Okay. So I talked about confidence in the institutional framework of the United States, rule of law, other significant aspects that people have come to rely on. One of those institutional staples has been an independent