Scott Galloway

will slash its tariff on Chinese goods from 145 to 30%, while China will lower its own tariffs on American products from 125% to just 10%. The move helped calm global markets, but it's anyone guess if the pause will hold. They now have 90 days to make a deal. What do you think will come out of this? What's your impression of what's happened as of this morning, Tim?

will slash its tariff on Chinese goods from 145 to 30%, while China will lower its own tariffs on American products from 125% to just 10%. The move helped calm global markets, but it's anyone guess if the pause will hold. They now have 90 days to make a deal. What do you think will come out of this? What's your impression of what's happened as of this morning, Tim?

will slash its tariff on Chinese goods from 145 to 30%, while China will lower its own tariffs on American products from 125% to just 10%. The move helped calm global markets, but it's anyone guess if the pause will hold. They now have 90 days to make a deal. What do you think will come out of this? What's your impression of what's happened as of this morning, Tim?

Well, he's definitely – so he's pulled the knife out of the back sort of halfway. That's the good news. The bad news is the injury is going to take, I think, decades to heal because even worse than the tariffs themselves, which obviously increase consumer prices and slow the economy – I think the most lasting damage here is that we have now become the land or the economy of toxic uncertainty.

Well, he's definitely – so he's pulled the knife out of the back sort of halfway. That's the good news. The bad news is the injury is going to take, I think, decades to heal because even worse than the tariffs themselves, which obviously increase consumer prices and slow the economy – I think the most lasting damage here is that we have now become the land or the economy of toxic uncertainty.

Well, he's definitely – so he's pulled the knife out of the back sort of halfway. That's the good news. The bad news is the injury is going to take, I think, decades to heal because even worse than the tariffs themselves, which obviously increase consumer prices and slow the economy – I think the most lasting damage here is that we have now become the land or the economy of toxic uncertainty.

And that is people don't even know how to plan their businesses. And the US S&P trades at a price earnings multiple of around 26, meaning for every dollar of profits that our great American companies generate, the world rewards us with $26 in value, which flows right into not only the pockets of shareholders, but employees. It lowers interest rates. We can borrow money at a much lower rate.

And that is people don't even know how to plan their businesses. And the US S&P trades at a price earnings multiple of around 26, meaning for every dollar of profits that our great American companies generate, the world rewards us with $26 in value, which flows right into not only the pockets of shareholders, but employees. It lowers interest rates. We can borrow money at a much lower rate.

And that is people don't even know how to plan their businesses. And the US S&P trades at a price earnings multiple of around 26, meaning for every dollar of profits that our great American companies generate, the world rewards us with $26 in value, which flows right into not only the pockets of shareholders, but employees. It lowers interest rates. We can borrow money at a much lower rate.

The U.S. dollar is kind of the reserve currency because everybody wants to buy American stocks, so there's greater demand for dollars. And the U.S. being the reserve currency globally literally lowers, on average, the interest rate that you pay across your student loans, your mortgages, and your car loans somewhere between half and 1%.

The U.S. dollar is kind of the reserve currency because everybody wants to buy American stocks, so there's greater demand for dollars. And the U.S. being the reserve currency globally literally lowers, on average, the interest rate that you pay across your student loans, your mortgages, and your car loans somewhere between half and 1%.

The U.S. dollar is kind of the reserve currency because everybody wants to buy American stocks, so there's greater demand for dollars. And the U.S. being the reserve currency globally literally lowers, on average, the interest rate that you pay across your student loans, your mortgages, and your car loans somewhere between half and 1%.

So that's just literally hundreds of billions of dollars in cost savings that the Americans enjoy because of the fact that our markets trade at a higher multiple on earnings. Now, why do they trade at a higher multiple? A lot of reasons. We're more risk aggressive. Our technology is better. We have more zeitgeist or a culture of entrepreneurship.

So that's just literally hundreds of billions of dollars in cost savings that the Americans enjoy because of the fact that our markets trade at a higher multiple on earnings. Now, why do they trade at a higher multiple? A lot of reasons. We're more risk aggressive. Our technology is better. We have more zeitgeist or a culture of entrepreneurship.

So that's just literally hundreds of billions of dollars in cost savings that the Americans enjoy because of the fact that our markets trade at a higher multiple on earnings. Now, why do they trade at a higher multiple? A lot of reasons. We're more risk aggressive. Our technology is better. We have more zeitgeist or a culture of entrepreneurship.

We have great universities, great intellectual property, but we also have rule of law and consistency. We're seen as good trading partners. We're seen as people we can count on. We're seen as a place where there isn't going to be a ton of corruption where you come and say, open a bunch of restaurants and then the government shows up one day and says, sorry, we now own them.

We have great universities, great intellectual property, but we also have rule of law and consistency. We're seen as good trading partners. We're seen as people we can count on. We're seen as a place where there isn't going to be a ton of corruption where you come and say, open a bunch of restaurants and then the government shows up one day and says, sorry, we now own them.

We have great universities, great intellectual property, but we also have rule of law and consistency. We're seen as good trading partners. We're seen as people we can count on. We're seen as a place where there isn't going to be a ton of corruption where you come and say, open a bunch of restaurants and then the government shows up one day and says, sorry, we now own them.

That happens in other countries around the world. Rule of law and consistency have been thrown out the window in just 110 days. You're starting to see a reduction in the price earnings multiple. I believe over the next several years, we're going to see a re-rating down of our price earnings multiple, which effectively increases the costs on all American businesses and consumers.

That happens in other countries around the world. Rule of law and consistency have been thrown out the window in just 110 days. You're starting to see a reduction in the price earnings multiple. I believe over the next several years, we're going to see a re-rating down of our price earnings multiple, which effectively increases the costs on all American businesses and consumers.