By coinnews 
00:00 Speaker A
I just want to get your read in on some of the different uh machinations between all all of the entities that have to negotiate because the trade war has essentially been kicked off within the first quarter of the presidency for Trump 2.0. And now, if there is a true resolve that investors should bank on that businesses and CEOs should see in any type of site right now.
00:45 Speaker B
Uh well, I think uh Brad, uh, you know, the real issue is that the tariff cat is out of the bag. And even though we’ve had uh several climbdowns by the Trump administration, uh in part due to the impact of tariffs on market psychology, uh to your earlier conversation, particularly in our view, uh on the treasury market, um, you know, the Trump administration has stepped back, most visibly and recently with China. But the cat is out of the bag. And so even with the pullback in the numbers uh of tariffs on China, you’re still talking about the highest tariffs in the United States since World War II or earlier, and that’s going to have a negative effect. I mean, it’s very clear. Virtually every economist, very clear. Higher inflation, lower growth. And that’s not constructive. And at the same time, you have these uh machinations, as you call them, uh which lead to an erosion of trust and confidence in the policymaking capacity of the US government, which then impacts the dollar and impacts equities and risk assets, which are at the, you know, their essence, uh a form of uh trust, and trust in governance, trust in the administration. And that trust has been severely bruised.