“Daddy Is Home” – Trump’s Tariff POWER Move Shakes Global Markets As EU Pauses Reciprocal Tariffs
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Summary
Trump announces new tariffs on Canada and Mexico, China, and other countries, and then announces a temporary reprieve from them. Then, the EU announces they are pausing on their retaliatory tariffs. Why is everyone so surprised?
Transcript
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Let me give you the timeline of what's going on with tariffs.
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Tom, I'm going to come to you, then Benny, I'll come to you next.
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Trump announced 25% tariffs on Canada and Mexico, starting February 1st.
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January 26th, he announced immediate 25% tariffs on all goods from Colombia,
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Colombia agreed to all the president's terms within hours.
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February 1st, then Trump signed an executive order imposing 25% tariffs
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on nearly all goods from Canada and Mexico and 10% on China,
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citing fentanyl smuggling, illegal immigration.
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The second, facing criticism, Trump acknowledged on social media
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becoming an economic downside, saying, will there be some pain?
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The third, he paused the tariffs on Mexico and Canada for 30 days
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On the fourth, 10% tariffs on Chinese imports took effect.
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China retaliated with additional tariffs on products.
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Seventh, he planned to broaden his trade war with reciprocal tariffs.
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Tenth, another 25% on foreign steel and aluminum,
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Fourteenth, confirmed plans to unspecified tariffs on foreign cars
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Twenty-fifth, executive order tasked on Commerce Secretary Lutnik
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with investigating its foreign copper production.
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Then it went to 13th of March, citing EU's planned 50% tariffs on whiskey.
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Mr. Trump proposed a 200% tariff on EU's wines.
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Twenty-six, 20% tariff on all cars and car parts shipped into U.S.,
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Twenty-ninth, said he couldn't care less if car prices rose due to his tariffs.
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Obviously, they're not telling the whole story.
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Then 31st, Trump declared no exemptions for tariffs starting April 2nd.
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Ten percent tariff on the second hit all nations across the board.
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Then the fourth, China's finance ministry imposed a 34% tariff on all imports.
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Trump planned a 34% tariff on China and barred 11 U.S. companies.
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Then on the fifth, 45-day delay with Vietnam because they were the first to come out.
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Then Bangladesh on the seventh, saw a three-month reprieve from U.S. tariffs.
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And in the interim, EU comes out saying we're going to have retaliatory tariffs.
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And then this morning, Tom, specific to EU, can you give us an update what they just did this morning?
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Now, the prime ministers and the presidents in Europe, they want to go out with populist anti-Trump messaging.
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And they want to go scream and pound their fist.
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So they send her out, who's the president of the EU Commission, Ursula von der Leyen.
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And she's the mouthpiece for the economic Europe.
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And it's because Europe was looking over at China and seeing Trump says, I'll see you're 75 and I'll raise you 100.
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And so Europe has come back and said, we'd like to negotiate and we're going to pause our retaliatory tariffs.
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She was the one that also said three days ago, Europe recognizes a good deal when we see it and we want a good deal, if anybody saw her comments.
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There's tariffs out there that we don't know about.
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And I want fairness and I want to bring jobs and manufacturing back to America.
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Why is the timeline here from the New York Times?
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Negotiations go back and forth, back and forth.
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And on an international stage, people are playing to their home audience, playing to their parliaments,
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So that's, I welcome President Trump's announcement to pause reciprocal tariffs.
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Clear, predictable conditions are essential in trade supply chains.
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Tariffs are taxes that only hurt business and consumers.
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That's why I've consistently advocated for a 0-for-0 tariff agreement.
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Because at the same time, Europe continues to focus on diversifying trade policy, engaging
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with countries that account for 87% of our global trades.
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So global trade and insurance commitment to open exchange goods.
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Finally, we are stepping our work for little berries.
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In times of uncertainty, the single market is our anchor of stability and resilience.
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My team and I will continue to work day and night to protect European consumers, workers,
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Together, Europeans will emerge stronger from this crisis.
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So if she says 0-for-0 tariffs, why do they have a 30% tariff on American vehicles?
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Why is it that you can go to Europe, which I'm sure everybody has done here?
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Have you ever seen a dealership in Europe for Chevy?
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Also, she puts out the tweet at 2 a.m., which is absurd, and nobody's going to see that.
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If you're speaking to Trump, which is what this is all about, and saying, yes, we agree
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that you're in control, and you're in control of the entire global economy, and we're going
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to try and do everything that we possibly can to keep access to the American market, because
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the only innovation that Europe has brought has been, in the last 30 years, has been
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a little piece of plastic that keeps the tab on your water bottles.
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While every AI company is here, and every single innovative company on planet Earth, while we're
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able to catch spaceships with chopsticks, Europe has added a piece of plastic that stabs you
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in the eye every time you try and drink out of their stupid water bottles.
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That's what this sounds like, a patent of a whine.
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Our home, I look at it as a metaphor of a house.
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Our proverbial house where we live, our country, has not only been a house that has been abused
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They literally walk onto our property and steal from us.
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And more importantly, we need somebody to sit in a rocking chair with a shotgun outside
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to say, you're not going to be stealing from our home anymore.
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He's sitting there with a polished 12 gauge out front with a cigarette or a Zen in or whatever.
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And he's saying, you're not going to steal from us any longer.
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And if you do, there's going to be horrible consequences.
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I don't have it on hand, but there's a great chart about the value of companies that were
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created in Europe over the last 70 years versus the value of American companies that
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They are dependent on us for their military, for their economics, for their innovation,
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and quite frankly, for the social welfare programs that they love to invest in.
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And Donald Trump is simply saying, there it is.
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So that's public from scratch US and new companies.
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Less than 50 year old with $10 billion market cap.
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So what I did when you said this, because you got me thinking, I lived in Germany for
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two years and I wanted to know, was there any US cars?
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Rob, can you actually search how many dealerships are there?
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I'm actually really curious because you got me thinking now.
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Because to me, as much as EU is something we're looking at, I want to know my number
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one person in this whole thing taking place is not EU.
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Can you type in, Rob, how many Ford vehicles were sold in Europe?
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So Ford sold roughly 426,000 units, reflecting 17% decline in 2023.
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The decline is due to a discontinuation of popular models like the Fiesta and Focus.
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is, okay, so now let's go look at how many BMWs Europe sells in the U.S.
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So if we see this now, because it validates how great of a customer we are.
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So go to, there you go, 371,000 they sell in the U.S., making a 2.5% increase.
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And depending on where you draw the line when you get to Poland and Ukraine.
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So for 100 million more, with what we're selling to them, what they're selling to us, the products that they have,
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I don't know if, to me, everything that they're doing right now, this is going to sound very weird.
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Out of all these tariffs that he's doing, he's putting down, it's really, sometimes, unfortunately, you have a team of 100 sales guys.
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And you have one guy that's the guy that's the biggest pain on the butt for the company to advance.
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But sometimes you shake things up in a company with a policy to wake this one person up and then for everybody to get a line on the same page
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and then for that person to come in and say, you know what, I agree with what you're saying.
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They're doing all of this stuff strictly for China.
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Like, all of this stuff is purely for one enemy.
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If you want to talk about cars, EU got caught with its pants down because it was kissing up and being nice to BYD because that's the Chinese EVs.
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That they were putting a factory in Hungary and they were hyper-subsidizing it and getting ready to destroy Renault and Nissan, which are partners, in EU with the pricing of their EVs.
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So EU suddenly is now investigating BYD for basically hyper-subsidizing it and all of this goodness for China they're doing, it's biting them.
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There you got this BYD, Hungary, and then EU investigation.
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This is all about China and what they're doing everywhere.
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And Europe let them in the door, wasn't tough with them the way we're being now.
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And now look, see, they get stabbed right in the back.
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I'm sorry, China says 84% tariffs on U.S. goods.
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Then Trump comes back and says 125% tariffs on U.S. goods and a 90-day break on tariff negotiation for the 75-so countries that were, you know, working and willing and wanting to do stuff.
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We want to have a million people wearing the Future Looks Bright gear.
00:12:45.700
So this is some of you that buy Future Looks Bright gear and the numbered ones.
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Go back one, Rob, to see what else is up there.
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This one took us a while to get, and I'll explain to you why.
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If you order this hat, when you open it up, the box, right there, you see the future looks bright in gold.
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And then there's a card in there, from me to you, and this hat took a while to make for one specific reason.
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And this says future looks bright, and all of it is embroidered.
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All of it says future looks bright all around the hat.
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This hat, black, sick hat that just got launched this morning, numbered at a 250, at 99.
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But if you're one of the people that collects these numbered hats, we will not be doing this one again, specifically with this color.
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Like if I bought one right now, so somebody's going to get the number one right now.
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Whoever ordered, somebody's going to get the number one.
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Now when we get the shipments with future looks bright, you know it's coming in this to know.
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00:14:58.680
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