Rich Lowry

And that's not something that was done to Trump. It's something he did. He had to touch the hot stove. He was warned by people, don't do it this way. There's going to be a big market reaction and real economic turmoil. in the country, but because he's such a deep believer in tariffs, he went and did it and he got the reaction and now he's pulling it back.

And that's not something that was done to Trump. It's something he did. He had to touch the hot stove. He was warned by people, don't do it this way. There's going to be a big market reaction and real economic turmoil. in the country, but because he's such a deep believer in tariffs, he went and did it and he got the reaction and now he's pulling it back.

And that's not something that was done to Trump. It's something he did. He had to touch the hot stove. He was warned by people, don't do it this way. There's going to be a big market reaction and real economic turmoil. in the country, but because he's such a deep believer in tariffs, he went and did it and he got the reaction and now he's pulling it back.

So the optimistic scenario continues to have various deals with other countries, gets the big, beautiful bill. There's some still economic disruption just based on what's happened at this point, but no recession and you move on from there. But I think that's the biggest story of the Trump presidency so far.

So the optimistic scenario continues to have various deals with other countries, gets the big, beautiful bill. There's some still economic disruption just based on what's happened at this point, but no recession and you move on from there. But I think that's the biggest story of the Trump presidency so far.

So the optimistic scenario continues to have various deals with other countries, gets the big, beautiful bill. There's some still economic disruption just based on what's happened at this point, but no recession and you move on from there. But I think that's the biggest story of the Trump presidency so far.

I don't know what Trump came up with that, Mark.

I don't know what Trump came up with that, Mark.

I don't know what Trump came up with that, Mark.

I think that's a good that's a good counter point. I'm not sure that Trump that they were ever discounting Trump or not paying serious attention to him. And there's a mutual blinking here. So the that's sort of the optimistic take from the U.S. perspective is he realizes how vulnerable he is. On the other hand, he knows how vulnerable we are, right?

I think that's a good that's a good counter point. I'm not sure that Trump that they were ever discounting Trump or not paying serious attention to him. And there's a mutual blinking here. So the that's sort of the optimistic take from the U.S. perspective is he realizes how vulnerable he is. On the other hand, he knows how vulnerable we are, right?

I think that's a good that's a good counter point. I'm not sure that Trump that they were ever discounting Trump or not paying serious attention to him. And there's a mutual blinking here. So the that's sort of the optimistic take from the U.S. perspective is he realizes how vulnerable he is. On the other hand, he knows how vulnerable we are, right?

And Trump blinked because there is a prospect of empty store shelves, of higher prices, of small businesses going extinct if you just pulled the rug out in terms of our relationship with China. So I just think in general, maybe you're right about China, but Even if you are, really, the UK, we couldn't just sit down with the UK without this huge tariff threat.

And Trump blinked because there is a prospect of empty store shelves, of higher prices, of small businesses going extinct if you just pulled the rug out in terms of our relationship with China. So I just think in general, maybe you're right about China, but Even if you are, really, the UK, we couldn't just sit down with the UK without this huge tariff threat.

And Trump blinked because there is a prospect of empty store shelves, of higher prices, of small businesses going extinct if you just pulled the rug out in terms of our relationship with China. So I just think in general, maybe you're right about China, but Even if you are, really, the UK, we couldn't just sit down with the UK without this huge tariff threat.

And Vietnam, really, if Trump came to them and said, I'm going 45% of you guys in 90 days unless we sit down and talk, they're not going to talk. They will. And my worry is geopolitically.

And Vietnam, really, if Trump came to them and said, I'm going 45% of you guys in 90 days unless we sit down and talk, they're not going to talk. They will. And my worry is geopolitically.

And Vietnam, really, if Trump came to them and said, I'm going 45% of you guys in 90 days unless we sit down and talk, they're not going to talk. They will. And my worry is geopolitically.

that because we've tariffed everyone, including our allies, it's a benefit to China because they have the opportunity now to go cut deals with all these countries and say, look, we're more reliable than the United States. We're not going to pull the rug out from under you.

that because we've tariffed everyone, including our allies, it's a benefit to China because they have the opportunity now to go cut deals with all these countries and say, look, we're more reliable than the United States. We're not going to pull the rug out from under you.