Breaking: Trump Lashes Out as Allies End Trade Deals and Approval Reaches All Time Low

Summary

---

The Parnas Perspective

Episode: Breaking: Trump Lashes Out as Allies End Trade Deals and Approval Reaches All Time Low
Date: February 23, 2026
Host: Aaron Parnas

---

Episode Overview

In this explosive episode, Aaron Parnas dissects a rapidly escalating political and economic crisis hitting the Trump White House. With the stock market in freefall, the European Union pausing a major trade deal, and Trump’s approval rating at record lows, Aaron delivers incisive analysis, leverages key soundbites, and offers perspective on the extraordinary developments ahead of Trump’s State of the Union address.

---

Key Discussion Points and Insights

1. Breaking News: White House Turmoil and Market Crisis

[02:00-03:40]

• The White House faces major destabilization after a Supreme Court decision overturns Trump’s tariffs, prompting Trump to react by slapping a sudden 15% global tariff.
• The Dow plunges over 800 points, dropping below the 50,000 threshold.
• European Union officials retaliate by pausing the newly executed US-EU trade deal, citing uncertainty and lack of US credibility.
• Trump responds with threats of even higher tariffs on uncooperative trading partners via social media, further spooking markets.

Notable quote:

“The White House is very concerned today because the stock market is in free fall after the Supreme Court decision to overturn Trump’s tariffs and after Trump decided to reimpose 15% blanket global tariffs across the board.”
– Aaron Parnas [02:34]

---

2. Trump’s Public Response and Defiance

[03:40-05:35]

• Despite economic turmoil, Trump insists, “We have the greatest economy we've ever had,” and promises a “long” State of the Union speech to address the crisis.
• He claims there is “silent support” for him, blaming the election process and alleging fraud regarding his vote totals.
• Trump is depicted as publicly flailing in response to historically low approval ratings.

Notable quote:

“We have the greatest economy we've ever had. We have the most activity we've ever had. I’m making a speech tomorrow night and you’ll be hearing me say that. I mean, it’s going to be a long speech because we have so much to talk about.”
– Donald Trump (clip) [03:42]

“It just amazes me that there’s not more support out there. It’s just we actually have a silent support. I think it's silent. … I got probably 85 million votes. They say 78 million, 79 million. They cheated at this election, too.”
– Donald Trump (clip) [05:13]

---

3. Policy Backlash: ACA, Medicare, and Voter Discontent

[05:35-07:34]

• Aaron highlights Trump’s rollback of Affordable Care Act (ACA) subsidies and attacks on Medicare/Medicaid, framing these as drivers of his unpopularity.
• Emphasizes that the expiration of ACA subsidies is harming everyday Americans, particularly seniors.
• Notes that these policy stances will likely exacerbate Trump’s problems going into the midterms.

---

4. Historic Low Approval Ratings

[07:34-09:32]

• CNN polling finds Trump’s approval at just 36%, with a net approval of -27 points—the worst showing for any president in their second term State of the Union in 21st-century history.
• Comparative analysis: Obama was -15 points, George W. Bush -11 at similar points.
• The panel underscores how this low approval distinguishes Trump’s current vulnerability compared to both his own previous terms and to other recent presidents.

Notable quotes:

“Trump’s net approval rating… at this point. Look at that—negative 27 points. … Compare that to where he was … in term one going into those state unions. Minus 10, way lower now... The bottom line is this: Donald Trump has never been weaker going into a State of the Union address according to our CNN polling than he is right now and weaker by a considerable amount.”
– CNN’s Harry Enten (clip) [07:57]

“Trump isn’t just weaker than he’s ever been... He is weaker than any other president this century going into a state of [the union].”
– CNN’s Harry Enten (clip) [08:54]

---

Memorable Moments

• Trump’s Defiance: His repetition of economic superlatives contrasts sharply with the real-time economic chaos and polling data.
• Polling Figure Shock: The stark -27 approval net is presented as “record-breaking” in a negative sense, with panelists drawing on British Prime Ministers’ terminology (“weak, weak, weak!”).
• International Fallout: The EU’s swift and public trade retaliation is read as an unprecedented vote of no confidence in current U.S. economic leadership.

---

Timestamps: Segment Highlights

• 02:00 – Aaron’s breaking news report: White House "in turmoil," markets crash
• 03:40 – Trump audio: "Greatest economy we've ever had," promises lengthy speech
• 05:01 – Trump laments “silent support” and election cheating
• 07:34 – CNN poll overview: Approval at 36%, "record lows"
• 07:57 – Panelist Harry Enten: “Negative 27 points,” comparisons to past presidents
• 08:54 – Trump weaker than any recent president in second term at State of the Union marker

---

Tone and Style

• Aaron Parnas maintains a brisk, urgent, and critical tone, often reinforcing cynicism toward Trump’s messaging and highlighting policy impacts with biting clarity.
• Clips from Trump and CNN panelists add both defiant rhetoric and analytical incredulity, capturing the high drama and unprecedented nature of the current political moment.

---

Conclusion

Aaron Parnas delivers a fast-paced, context-rich briefing on a day of extraordinary political and economic volatility. Despite Trump’s combative denials and bravado, polling and market data reveal a presidency at its lowest ebb heading into a likely pivotal State of the Union. Aaron promises continued coverage with live analysis in future episodes.

---

Transcript

[A]

My name is Mackenzie and I started a GoFundMe for the adoptive mother of a nonverbal autistic child. The mother had lost her job because she wasn't able to find adequate care for this autistic child. So she really needed some help with living expenses, paying some back bills. So I launched a GoFundMe to help support them during this crisis. And, and we raised about $10,000 within just a couple of months. I think that the surprising thing was by telling a clear story and just like really being very clear about what we needed, we had some really generous donations from people who were really moved by the situation that this family was struggling with.

[B]

GoFundMe is the world's number one fundraising platform trusted by over 200 million people.

[A]

Start.

[B]

Start your GoFundMe today at gofundme.com that's gofundme.com gofundme.com this podcast is supported by GoFundMe.

[C]

We're lost.

[D]

I'm gonna pull over and ask that man for directions.

[B]

Hi there.

[C]

We're looking to get to the campground.

[E]

Well, you're gonna take a left at the old oak tree end of this here road. No, I'm just kidding. Let me get my phone out.

[C]

How are you getting a signal out here?

[E]

T Mobile and US Cellular decided to merge. So the network out here is huge. We're getting the same great signal as the city and saving a boatload with all the benefits. Oh, and a five year price gu. Okay, here's those directions.

[C]

Actually, can you point us in the

[D]

direction of a T Mobile store?

[F]

America's best network just got bigger. Switch to T Mobile today and get built in benefits the other guys leave out. Plus our five year price guarantee. And now T Mobile is available in US Cellular stores.

[E]

Best mobile network based on analysis by Ookle of speed test intelligence data at 2H2025 bigger network. The combination of T Mobile's and US Cellular's network footprints will enhance the T Mobile network's coverage price guarantee on talk text.

[F]

Exclusions like taxes and fees apply.

[E]

CT mobile.com for details.

[B]

We have breaking news right now. The White House is in turmoil right now. Why? The stock market is in free fall. European countries are retaliating, saying they are putting a pause on the newly executed trade deal between the United States and the European Union. All while a president is flailing publicly over tanking approval ratings. Donald Trump right now as some of the worst approval ratings of any president of the United States among independents and the worst approval ratings for the president in this term and the last term combined as he heads into a State of the Union address that he promises to be a long one tomorrow night because there are, quote, a lot of things to cover, as he says. I'll be covering it live for you. I'll watch it so that you don't have to make sure to like, comment, share and subscribe. The more you like, the more people watch and subscribe to my substack. Click the link below to support my work or send the Venmo to Aaron Parnas to keep me caffeinated because your boy is gonna need it over the next several days. Let's just jump right into it right now. The White House is very concerned today because the stock market is in free fall after the Supreme Court decision to overturn Trump's tariffs and after Trump decided to reimpose 15% blanket global tariffs across the board. The Dow Jones Industrial Average is now down more than 800 points today. It is certainly lower below 50,000. The Dow is not above 50,000. Let me reiterate, the Dow is not above 50,000. Now, that hasn't stopped the president of the United States from claiming that, well, we have the greatest economy in the world.

[G]

Take a listen, country that's now doing well. We have the greatest economy we've ever had. We have the most activity we've ever had. I'm making a speech tomorrow night and you'll be hearing me say that. I mean, it's going to be a long speech because we have so much to talk about.

[B]

Greatest economy we've ever had. It's going to be a long speech because we have a lot to talk about. Well, the economy is not doing so hot because it is in free fall this morning. And while it comes, as the European Union says, we're going to put a pause on the great trade deal executed between the Trump administration and the European Union. When I say great, not great in terms of it being good, but great in terms of it being large, quote, nobody knows what will happen. And it's unclear if there will be additional measures or how the United States will really guarantee its end of the agreement. That according to the European Parliament's trade committee chief, Bern Lang. As the announcement was being made, Donald Trump went to his social media to threaten any country that wants to play games with the ridiculous Supreme Court decision. Trump said countries could be hit with a much higher tariff. Buyer beware. And as a result of Donald Trump's threats, as a result of the EU putting a pause halting the trade deal, the Dow and other parts of the United States stock market are in freefall at the moment. And while Donald Trump is complaining this afternoon because he doesn't understand how his approval ratings could be so low, take a listen.

[G]

Kristi Noem are people, they've been incredible, the job they've done, and they take nothing but abuse. But, you know, they're sort of pretty hardened to that, I think, because they know they're doing the right thing. It just amazes me that there's not more support out there. It's just we actually have a silent support. I think it's silent. I think it's a. Well, that's how I won. I got probably 85 million votes. They say 78 million, 79 million. They cheated at this election, too. It was just too big to rig.

[B]

Now he talks about the silent support. He talks about the fact that he's upset. He doesn't understand how polling could have him so low. New polling from CNN today had him in the gutter. And we're going to get to that momentarily. But the reason why he's polling so low is because his popular, his policies are simply not popular. One of the main policies that aren't popular is the fact that he has completely rolled back. One of the completely rolled back, or rather didn't fund Affordable Care act subsidies. That was a big thing right here, right? Remember aca subsidies expired at the end of the year. He's been attacking healthcare, he's been attacking aca, attacking Medicare, attacking Medicaid. There are a lot more policies that people are not a fan of. And that really brings me to an important point, which is why I partner with a group called Chapter. And I want to take a minute to talk about Chapter, which right now helps seniors across the country find the right Medicare plan. I mean, it's that simple. Because right now, many seniors are on the wrong plan and most of whom don't even know it. Chapter makes Medicare simple. They compare all your Options in under 20 minutes Searches every plan to get you the right one, saving you an average of eleven hundred dollars. And it's completely free. And if you're already on the right plan, they'll tell you and give you peace of mind. It's simple. For free and unbiased Medicare help, dial 212-200-353-1212 2003531 to speak to my trusted partner chapter or go to askchapter.org backslash Parnas at a time where healthcare coverage is on the line, make sure you have the right plan. And. Well, I'm making sure you have the right plan. And it comes as the President of the United States doesn't want you to. Right. He wants affordable, Affordable Care act subsidies to remain expired. And that's going to be a big issue for him heading into this midterm election. And while it comes as CNN polling today has him at its lowest point in a very long time. Take a listen.

[C]

CNN polling is now out on the eve of this big event showing some record lows for President Trump's approval. Overall job approval now standing at 36%. But there's much more to it, especially when you look in the past. CNN's Harry Anton is running the numbers on this one for us. Harry, what's your take with what you're looking at on how people are feeling about how Trump is doing in this moment?

[F]

Yeah, okay. I would borrow the phrasing of Tony Blair, of course, the former prime minister of Great Britain saying week, week, week, it was weak over there in the United Kingdom. It is weak here in the United States when it comes to President Trump. Okay, Trump's net approval rating. Look at all the pre sodas polls, the State of the Union. Look at this. Okay, we're at this point. Look at that. Negative 27 points. My goodness gracious. The snow is up to the knees here in New York City and Trump seems to be well underneath it at this point. Compare that to where he was in 20, 20, 2019 and 2018 in term one going into those state unions. Minus 10, way lower now. Minus 15, way lower now. Minus15, way lower now. The bottom line is this. Donald Trump has never been weaker going into a State of the Union address according to our CNN polling, than he is right now and weaker by a considerable amount.

[C]

So this is his first term to his second second term. How does it compare to other presidents at this point in their second term though?

[F]

Yeah, okay. It's not just that Donald Trump is breaking records compared to himself when it comes to State of Unions. He's breaking records compared to other presidents at this point going into a State of the Union. What are we talking about? Look at all the 21st century presidents on your screen right here about at this point, a second term going into the State of the union. Trump at minus 27 points. Obama was at minus 15 points. George W. Bush was, was at minus 11 points. You don't have to be a mathematical genius to know that minus 27 points is considerably lower than minus 15 or minus 11. So Trump isn't just weaker than he's ever been going into a State of the Union address. He is weaker than any other president this century going into a state of

[B]

weaker than any other president going into their State of the Union in this entire century. Weaker than he has ever been going into a State of the Union. Well, it comes because why? Americans are sick and tired of the chaos that's coming out of Washington, D.C. regularly. So we'll see what the State of the Union brings. I'm going to watch it so that you don't have to. It's going to be a long, lengthy speech tomorrow night. Stay tuned for more subscribe Click the link below to support my work and I'll see you soon. Hey folks, thanks so much for watching. Feel free to add this podcast on Apple Podcasts, Spotify or anywhere you watch for the latest breaking news and and daily hits throughout the day. Make sure to follow subscribe. See you soon for more.

[D]

This is the new Weight Watchers. It works for members like JoJo, who's learning simple, healthy habits, Sharia, who's making progress with meds, and Kim, who still gets to eat what she loves. For over 60 years, we've helped millions of members find what works for them. Now it's your turn. Watch your life open up. Watch your story shift. Watch what you're capable of. Watch it work. Get started today at weightwatchers.

[E]

Com.