Scott Besant

I think that's a false narrative. Americans who want to retire right now, Americans who have put away for years in their savings account, I think they don't look at the day-to-day fluctuations of what's happening.

I think that's a false narrative. Americans who want to retire right now, Americans who have put away for years in their savings account, I think they don't look at the day-to-day fluctuations of what's happening.

Look, Chris, markets are organic animals, and you never know what the reaction is going to be. One thing that I can tell you as the Treasury Secretary, what I've been very impressed with is the market infrastructure. that we had record volume on Friday and everything is working very smoothly. So the American people, they can be very, take great comfort in that.

Look, Chris, markets are organic animals, and you never know what the reaction is going to be. One thing that I can tell you as the Treasury Secretary, what I've been very impressed with is the market infrastructure. that we had record volume on Friday and everything is working very smoothly. So the American people, they can be very, take great comfort in that.

Look, Chris, markets are organic animals, and you never know what the reaction is going to be. One thing that I can tell you as the Treasury Secretary, what I've been very impressed with is the market infrastructure. that we had record volume on Friday and everything is working very smoothly. So the American people, they can be very, take great comfort in that.

My advice to every country right now is do not retaliate. Sit back, take it in. Let's see how it goes, because if you retaliate, there will be escalation. If you don't retaliate, this is the high water mark.

My advice to every country right now is do not retaliate. Sit back, take it in. Let's see how it goes, because if you retaliate, there will be escalation. If you don't retaliate, this is the high water mark.

Before talking about the effects and that are bad, let me just say that I think that was the dumbest, most economically illiterate speech I have heard in my life. And I've heard a lot of bad ones. It was filled with lies and distortions, and I need to back that up. For example, the idea that the European Union has a 39% tariff rate on the United States.

Before talking about the effects and that are bad, let me just say that I think that was the dumbest, most economically illiterate speech I have heard in my life. And I've heard a lot of bad ones. It was filled with lies and distortions, and I need to back that up. For example, the idea that the European Union has a 39% tariff rate on the United States.

Before talking about the effects and that are bad, let me just say that I think that was the dumbest, most economically illiterate speech I have heard in my life. And I've heard a lot of bad ones. It was filled with lies and distortions, and I need to back that up. For example, the idea that the European Union has a 39% tariff rate on the United States.

the weighted average of EU tariffs on the US is 1%. Japan, which supposedly, according to Trump, had a 46% tariff rate, the weighted average of tariffs on US products is 3.2%.

the weighted average of EU tariffs on the US is 1%. Japan, which supposedly, according to Trump, had a 46% tariff rate, the weighted average of tariffs on US products is 3.2%.

the weighted average of EU tariffs on the US is 1%. Japan, which supposedly, according to Trump, had a 46% tariff rate, the weighted average of tariffs on US products is 3.2%.

Marcus Peterson, who was excellent, highlighted the fact that other countries which actually have high tariff rates, like Turkey, all of a sudden get favored treatment from Trump, at least relatively favored, by paying only 10%. What you had was someone who is the president of the United States speaking almost absolute nonsense.

Marcus Peterson, who was excellent, highlighted the fact that other countries which actually have high tariff rates, like Turkey, all of a sudden get favored treatment from Trump, at least relatively favored, by paying only 10%. What you had was someone who is the president of the United States speaking almost absolute nonsense.

Marcus Peterson, who was excellent, highlighted the fact that other countries which actually have high tariff rates, like Turkey, all of a sudden get favored treatment from Trump, at least relatively favored, by paying only 10%. What you had was someone who is the president of the United States speaking almost absolute nonsense.

And the biggest nonsense of all was the idea that tariffs can replace income taxes and that they will lead to economic growth. They won't. Now, how bad is this? You have varying rates across the board. You have 20% on the EU. You have 34% on China, even higher on some countries. lowest rates are still only going to be, you know, are still at least 10%.

And the biggest nonsense of all was the idea that tariffs can replace income taxes and that they will lead to economic growth. They won't. Now, how bad is this? You have varying rates across the board. You have 20% on the EU. You have 34% on China, even higher on some countries. lowest rates are still only going to be, you know, are still at least 10%.

And the biggest nonsense of all was the idea that tariffs can replace income taxes and that they will lead to economic growth. They won't. Now, how bad is this? You have varying rates across the board. You have 20% on the EU. You have 34% on China, even higher on some countries. lowest rates are still only going to be, you know, are still at least 10%.

The Aston Business School modeled this, and earlier this week came out and said, in the event of a 20 to 25% U.S. tariff, and we're roughly talking about that across the board, if the EU and other countries retaliate, the loss to the global economy will be $1.4 trillion, that is trillion with a T, dollars to the global economy.