Tony Blinken

What does that mean in terms of what they're doing? It means that countries are now looking for ways to work around us, to work more closely together, but without the United States. And that I think is the trend that we're seeing because the unpredictability, the possibility that what's said today will be reversed tomorrow and then reversed again means that they simply can't count on us.

You know, um, President Biden used to like to say it's never a good bet to bet against America. The problem we now have is that people will not be betting on America. And that will play itself out for many, many months and many, many years. All right.

You know, um, President Biden used to like to say it's never a good bet to bet against America. The problem we now have is that people will not be betting on America. And that will play itself out for many, many months and many, many years. All right.

You know, um, President Biden used to like to say it's never a good bet to bet against America. The problem we now have is that people will not be betting on America. And that will play itself out for many, many months and many, many years. All right.

Well, I think the sort of diplomatic language that I typically hear is, Tony, what the F is going on? That tends to be how the question is posed. Look, there really is confusion. Here's the thing. We were talking to him about tariffs a little while ago. But we don't even know what the administration is trying to accomplish because we keep hearing different things. Is this about raising revenues?

Well, I think the sort of diplomatic language that I typically hear is, Tony, what the F is going on? That tends to be how the question is posed. Look, there really is confusion. Here's the thing. We were talking to him about tariffs a little while ago. But we don't even know what the administration is trying to accomplish because we keep hearing different things. Is this about raising revenues?

Well, I think the sort of diplomatic language that I typically hear is, Tony, what the F is going on? That tends to be how the question is posed. Look, there really is confusion. Here's the thing. We were talking to him about tariffs a little while ago. But we don't even know what the administration is trying to accomplish because we keep hearing different things. Is this about raising revenues?

Maybe, except at some point that doesn't work because the tariffs go so high that trade stops and you don't get the revenues. Is this somehow about bringing manufacturing back to the United States? Maybe, except that that takes years and it takes massive investment and people are loath to make those investments in an environment of unpredictability.

Maybe, except at some point that doesn't work because the tariffs go so high that trade stops and you don't get the revenues. Is this somehow about bringing manufacturing back to the United States? Maybe, except that that takes years and it takes massive investment and people are loath to make those investments in an environment of unpredictability.

Maybe, except at some point that doesn't work because the tariffs go so high that trade stops and you don't get the revenues. Is this somehow about bringing manufacturing back to the United States? Maybe, except that that takes years and it takes massive investment and people are loath to make those investments in an environment of unpredictability.

Is it about dealing with the trade deficits that we have with some countries? And it seems that this is something that has motivated President Trump for a long time. Maybe that's what's going on. Except that the link between tariffs and trade deficits is not so obvious. We have 27 countries in the European Union, right? They all basically have the same tariffs.

Is it about dealing with the trade deficits that we have with some countries? And it seems that this is something that has motivated President Trump for a long time. Maybe that's what's going on. Except that the link between tariffs and trade deficits is not so obvious. We have 27 countries in the European Union, right? They all basically have the same tariffs.

Is it about dealing with the trade deficits that we have with some countries? And it seems that this is something that has motivated President Trump for a long time. Maybe that's what's going on. Except that the link between tariffs and trade deficits is not so obvious. We have 27 countries in the European Union, right? They all basically have the same tariffs.

They basically have the same trade policies. We've got surpluses with some, deficits with others. So that whole link is not clear. And by the way, trade deficits are not necessarily a bad thing. It basically means we import a lot of stuff. So people have cheaper prices. They've got greater choice.

They basically have the same trade policies. We've got surpluses with some, deficits with others. So that whole link is not clear. And by the way, trade deficits are not necessarily a bad thing. It basically means we import a lot of stuff. So people have cheaper prices. They've got greater choice.

They basically have the same trade policies. We've got surpluses with some, deficits with others. So that whole link is not clear. And by the way, trade deficits are not necessarily a bad thing. It basically means we import a lot of stuff. So people have cheaper prices. They've got greater choice.

And then our manufacturers can take the inputs for their products that they bought more cheaply and produce a product that they can sell at a better price. So there's just general confusion about what is the president trying to accomplish. And I'd say really quickly two things.

And then our manufacturers can take the inputs for their products that they bought more cheaply and produce a product that they can sell at a better price. So there's just general confusion about what is the president trying to accomplish. And I'd say really quickly two things.

And then our manufacturers can take the inputs for their products that they bought more cheaply and produce a product that they can sell at a better price. So there's just general confusion about what is the president trying to accomplish. And I'd say really quickly two things.

As I'm trying to decipher this myself and trying to have these conversations and at least try to explain what I see going on. One is this notion of what the economists call autarky or economic self-sufficiency. Basically, let's make everything and build everything and do everything in the United States. Sounds good, right?