Scott Besant (3:32)

Excuse me. Excuse me, Raquel, If I could just add to what the secretary said. Many of you in the media clearly missed the art of the deal. You clearly failed to see what President Trump is doing here. You tried to say that the rest of the world would be moved closer to China, when in fact, we've seen the opposite effect. The entire world is calling the United States of America, not China, because they need our markets, they need our consumers, and they need this president in the Oval Office to talk to them. And that's exactly why more than 75 countries have called, because the United States of America is the best place in the world to do business. And as the President has shown great courage, as the Secretary has said, in choosing to retaliate against China even higher. Elena, go ahead.

Elena (4:13)

It's so embarrassing. She literally did this meme. Trump goes, I'm adding the tariffs. His followers go, this will create jobs. Trump says he's removing tariffs. His followers go, this is the art of the deal. And the cycle repeats. And if you're not feeling the secondhand embarrassment enough just yet, well, let me show you this clip of Benny Johnson. This was put together at Project Liberal. And in the first clip, you'll see Benny Johnson, a MAGA talking head who is literally being paid by Russia to spread pro Trump propaganda, talking about the economic crash occurring under Donald Trump. He was telling his listeners that these are just numbers. Everyone loses money. It builds character. But in 2024, when Joe Biden was president and the stock market was down for A single day. He called it the Kamala crash and he treated it like the apocalypse. Watch this.

Brett Meisellis (4:59)

Losing money costs you nothing. This is just the reality of life. Like, were you young, young and dumb? How much money did you lose? Everyone loses money. Everyone loses money. It costs you nothing. In fact, it builds quite a bit of character. In fact, you learn a lot of lessons actually by losing money. It's bloody, bloody, bloody, bloody Black Monday. Holy moly. The Kamala crash is here. Kamala needs to get in front of a camera. Today, people are losing their homes. Today, people are losing their fortunes. Today, people are losing their futures. Today, people are losing their 401ks today. This is shaping up to be one of the worst market days in American history.

Elena (5:39)

You've got a lot more to report. I'll be right back after this. Let's be real. Coffee isn't just a drink. It's a ritual, a lifeline. The bridge between half asleep and ready to conquer the day. And if it's that essential, why settle for anything less than extraordinary? That's where trade comes in. Listen, you know I take my coffee seriously. And every single bag of coffee I've received from trade has been next level. Trade is not just a subscription. It's like having a personal barista who actually knows what you like. You just take their quiz and in under a minute, they'll match you with your perfect coffee. And if your first bag isn't a hit, they'll replace it for free until they get it right. I love that trade is the number one US coffee destination, working with over 50 of the best roasters around the country. You're getting top quality coffee roasted to order while supporting local businesses. That's a win. Win. Just this week I got a bag of Ethiopian coff from a roaster called necessary coffee that's based in Pennsylvania. And it was just incredible. And I love that I never have to worry about taking an emergency run to the grocery store for a mediocre, overpriced bag. Because trade delivers top notch coffee straight to my door. Right now, trade is exclusively offering our listeners 50% off your one month trial@drinktrade.com Midas that's Drinktrade. T R A D E me I D A S for 50% off your one month trial. Trust me, you will never go back to grocery store coffee. If you remember, just yesterday, Donald Trump was calling any republican who suggested even pausing the tariffs weak and panikins. So I guess this makes Donald Trump weak and a pannikin. And by the way, if tariffs were supposed to make us so rich and strong and be the, quote, medicine that we all needed, then why would he pause them? Can a single Trump supporter answer that for me? Huh? Crickets. Thought so. Let's pull up some receipts. Here was Trump on April 7 saying that he was not looking into a pause.

Scott Besant (7:38)

Today. And would you be open to a pause in tariffs to allow for negotiations?

Brett Meisellis (7:43)

Well, we're not looking at that.

Elena (7:45)

Here was Caroline Levin on April 8th saying that no delay was being considered.

Scott Besant (7:49)

Elena? Hi, Karen. It's clear the president has gotten the world's attention with these tariffs. Is there, is he considering at all potentially holding off on imposing some of them before the deadline or maybe later reversing them because he's having these negotiations and having these good talks with other leaders? Ms. The president was asked and answered this yesterday. He said he's not considering an extension or delay. I spoke to him before this briefing. That was not his mindset. He expects that these tariffs are going to, to go into effect. And you said something very important, Elena, in your question, you said the president has captivated the attention of the world. Absolutely he has. And it's about time we have a president in the Oval Office who is putting the world on notice and is putting the American people first and again is using the leverage of the United States to negotiate good trade.

Elena (8:38)

And just two days ago, Caroline Levitt told the press that the idea that Trump was even considering a pause was, quote, fake news. Watch this.

Caroline Levitt (8:45)

Spoke to Caroline Levitt, the White House press secretary, on the phone just a short time ago and she tells me it is, quote, unquote, fake news that the White House is considering a 90 day pause. So the White House pouring cold water on this idea wherever it came from.

Elena (8:59)

Trump's Treasury Secretary, Scott Besant, who said he hasn't been included in like any of these tariff decisions, is now saying that this was all part of the plan and that Trump actually goaded China into a bad position. Watch this.

Caroline Levitt (9:11)

All this was, again, this was driven by the president's strategy. He and I had a long talk on Sunday and this was his strategy all along. And that, you know, you might even say that he goaded China into a bad position. They responded. They have shown themselves to the world to be the bad actors and we are willing to cooperate with our allies and with our trading partners who did not retaliate. It wasn't a hard message. Don't retaliate. Things will turn out well.

Elena (9:45)

This is just typical loser and abuser behavior. You try to punish somebody, they react to protect themselves. And then you try to punish them more and blame them, saying that they were asking for it. Just, it's so disgraceful, this whole thing. Oh, and by the way, speaking of China, Fox is now reporting that any TikTok deal with China is now off the table. Watch this.

Brett Meisellis (10:04)

Varro was talking as of yesterday about not taking the win and now they did. And it's all because of the bond market. I want to point out one other thing. Because of China, there will not be a TikTok deal, okay, that the White House has confirmed to me. That is basically off the table.

Elena (10:19)

As Roger Sullenberger of the Daily Beast writes, quote, the volatility of Trump's presidency seem like it may function as its own kind of non monetary tariff, eroding trade relationships without generating the additional tax revenue. And that really is the issue. I mean, Trump has lost complete control of the tariff narrative. He has proven himself to be an erratic and untrustworthy trade partner and abuser of the global economic system. He offers no stability to businesses or governments under his leadership. There is. There's no reason for our allies or our rivals to place any faith in the consistency of US Policy. And for American businesses, the uncertainty has to be paralyzing. How can a company justify sinking billions into building factories in the United States if those investments could instantly be undercut by a single tweet? Trump could raise tariffs, lower them, scrap them entirely at a whim, obliterating an entire business model overnight. There's no strategy here, no coherence, only chaos. And we all suffer because of it. As Midas Touch Editor in chief Ron Philipkowski says, quote, the credibility of the US Government is completely shot, gone, annihilated. Nobody anywhere in the world can believe a single word that comes out of this administration. Ever. Oh, and here's a photo that the Democrats on the House and Ways Committee posted. Trump's trade representative, Ambassador Greer, was in the middle of testifying to Congress about why Trump's tariffs were so great and should never be paused. And at this very moment, in the picture that I'm showing right now, he found out that Trump reversed the policy. For those listening, he's staring down at his phone in disappointment and confusion. After hours and hours of testimony, the Ways and Means Democrats tweeted the following along with this image. Heartbreaking. Man discovers he has to backpedal on a policy he just spent over four hours defending. Ouch. So there you have it. Trump caved again. The propagandists, they're out in full force to try to spin this. Our alliances are shattered and Americans are worse off because of Donald Trump's erratic behavior. We're going to continue to follow this and all the news, so make sure you are subscribed to our YouTube channel. Also, make sure you add the Midas Touch podcast right now on Apple Podcasts and Spotify. And join us on substack@midasplus.com thanks so much. I'll see you soon. Can't get enough Midas? Check out the Midas plus substack for ad free articles, reports, podcasts, daily recaps from Ron Filipkowski and more. Sign up for free now@midasplus.com.