Ryan Petersen

Like you make tanks out of your Ford factory during a war, et cetera.

obviously it increases the cost for companies that are sourcing goods.

And we've become so globalized.

Our economy is just like the supply chains are unfathomably complex and interdependent.

And they're full of independent actors making their own decisions about how they want to do things.

And there's these component, subcomponent ecosystems of supply, moving goods all over the world and doing assembly and production in different countries and bringing things together.

So introducing massive changes on short notice to the tariffs has caused

borderline chaos certainly a lot of disorder in global supply chains which ultimately affects all the stuff that we buy most it's not true that america doesn't make anything anymore but like a lot of the kind of consumer goods that are all made over a lot of them are made overseas obviously i mean you talk to a lot of customers are people on shoring or they just sort of accepting or what's happening with

Well, that's the thing.

You have to judge policies not by their intention, but by their outcome.

One of the mistakes that a lot of people make is like, well, it was good intention, so therefore the policy is fine.

And that's not right.

And these tariffs have had the opposite impact that Trump would like.

I think there's intention.

There's some validity to it all.

Some of the things I said from national security and employment and other things.

But the...

The result has been thus far, and it's pretty early in the cycle.

We're only a couple months since the Liberation Day or whatever.

But I've met infinitely more.