Robert Rubin

It's a regressive tax.

And it's a regressive tax which has adverse effects on growth, as I say a moment ago, on inflation.

I don't think it's complicated.

When I was at Goldman Sachs, we had economists and we had terrific people, strategists and everything.

They were always telling me what they thought was going to happen in the short term.

And I would always say, you're very nice people, and I think that's nice of you to do.

And our clients are interested, so you should do that.

But I myself wouldn't base my decisions on them.

Things...

Short term and short term effects, Lisa, could be whatever they're gonna be.

The question is what's gonna happen over time?

And I think over time, for the reasons I've said, I think tariffs are a very substantial negative and I think that open trade, with the caveats that I mentioned, I think open trade has served us very well.

Well, my impression, and I get this largely from speaking, I don't speak to many companies myself, but our people are just enormously plugged into corporate America.

And I also have three advisory relationships with pretty substantial investment, I guess you'd call them funds.

I think a lot of people are rethinking how much they want to be allocated to the United States.

And you see it a little bit, by the way, in the dollar.

The dollar has, after all, suffered through this thing.

I don't think too much of it has happened so far.

But I think at the risk that we're taking, and I think what's so sad to me, Lisa, is we have such tremendous strength and so many advantages.

And I think the damage we're doing is very substantial, attacking our research, attacking science and basic research, attacking our universities, immigration policy that makes no sense whatsoever.