90 deals and 90 days is possible. I've always wanted to ask you for the last 90 days about your comment on April 7th, when you said 90 deals were possible in 90 days. We're almost up. And I just wonder, was your thinking at the time that it really was an aspirational number, or are you kind of disappointed in two? [00:00:19] For now. I'm happy with with the progress we've had. All right. Well, that was Peter Navarro, the senior counsel for trade and manufacturing in April, and Navarro again appearing on CNBC yesterday. [00:00:35] So as you can see, the Trump administration is walking back some of their messaging on tariffs already. And that's because their self-imposed tariff deadline is coming up very, very quickly with only a few deals to show for it. So we have more clips where where that one came from, [00:00:51] including Trump himself sounding very like extremely confused about what is even going on with these tariffs. He doesn't know. So Jake, I feel like I just asked you this with the last story, but like, who is in charge here? Is there anyone stealing this? You know, the proverbial ship at this point? [00:01:06] Or is the Trump administration just completely clueless and off the rails? Do these people have a plan? Yeah, two different questions there. But on this one, I think it's super clear. So because on things like immigration, there's different forces that are pulling [00:01:22] at Donald Trump and he doesn't really have much of an opinion himself. But on tariffs, this is all Trump. Trump, had this idea for decades. He's on tape talking about it well before he ran for president, because he's an idiot and he thinks, oh, in the 1890s, we didn't have [00:01:40] an income tax, we just had tariffs. And it was enough to pay for the government. Yes. In the 1890s, that was true. He can't get it through his orange head. It's not the 1890s that's totally impossible now. And you can't reverse time. The economy is completely different. [00:01:57] Nothing is the same. And no. He. No. Tariffs. Tariffs. Tariffs. No one else believes in tariffs. It's only Trump. Especially these type of like huge tariffs and not related to reciprocal not related to anything right. So this is classic Trump blunder. [00:02:15] Even his like super right wing you know advisors etc. They don't want him either because this doesn't help business interests. They're mainly interested in helping corporations and their donors. And this doesn't help. This is pure Trump, pure idiocy. [00:02:31] And the reason why they don't seem to have a plan is because it's all Trump. And Trump never has a strategy. Oh I'm gonna do tariffs. Oh they're going to be 145%. Okay. They're going to be 45. Okay. They're 3010. Back to 30. Back to 45. He doesn't have a plan because he's an idiot. [00:02:47] And so if someone else had a plan, at least there would be some rhyme and reason to it. The reason why this is so scattershot is it's whatever popped into Donald Trump's mind, in the last minute. Yeah. And whenever you're working with money and numbers, like, you have [00:03:04] to be a little bit more deliberate in, in the way that you're executing these things, you would think that he would know that as a very successful businessman and billionaire. Alas, here we are. All right. So here is what you need to know about the tariffs. So in early April, Trump announced very hefty reciprocal tariffs. [00:03:21] He called them but later paused those tariffs. He stated that countries would have 90 days to make a deal. July 9th aka this Wednesday. Tomorrow marks 90 days. So so far, the Trump administration has announced the frameworks [00:03:36] of trade agreements with the UK, China and most recently, Vietnam. That's not exactly 90 deals in 90 days, but maybe my math is wrong somewhere. So the Trump administration is moving the goal post again, as they do. Take a look at this. [00:03:53] What President Trump is concerned about is the quality of the deals, not the quantity. As you could imagine, as he started hurting the cats and trying to get everyone across the finish line, when he said that there's a chance that countries could boomerang back to [00:04:10] their April 2nd reciprocal tariff levels. We've had a lot of people change their tune in terms of negotiations. So, my my mailbox was full last night with, a lot of new offers, a lot of new proposals. [00:04:29] So it's going to be a busy couple of days. But importantly, too, that President Trump has said that they would the countries would not go back to the reciprocal rate until August 1st. [00:04:44] All right. Well, on Sunday, Trump and the Commerce Secretary, Howard Lutnick, they were asked about the administration's position on tariffs. And here is what they had to say about that. Mr. President, do the tariff rates change at all? On July 9th or do they change on August 1st? [00:05:01] What are you talking about. Tariff rates. Do they change on July 9th or August 1st. Well they're going to be tariffs. The tariffs are going to be the tariffs. I think we'll have most countries done by July 9th. Yeah either a letter or a deal. But they did. But they go into effect on August 1st. [00:05:19] Tariffs go into effect August 1st. But the president is setting the rates and the deals right now. I'm sorry I'm still laughing. What do you say the tariffs the tariffs the tariffs are going to be anyway. So Trump then proceeded to completely contradict his own position [00:05:35] on the tariff deadline. So let's watch what he said yesterday followed by what he said today because they are different. Is the August 1st deadline firm now? Is that it? - Could you move it now? - I would say firm, but not 100% firm. August 1st you said, is the deadline. [00:05:52] What incentives do countries have to negotiate. It seems that deadline keeps moving. April 2nd. Now. We didn't move. No, no. It's always been August 1st. Firm, but not very firm. Maybe like firm tofu or a firm mattress. [00:06:08] Those are. That's what came to my mind when he said that. So we've got even more tariff updates where that came from. Yesterday, the Trump administration sent letters to 14 countries who have not yet agreed to a trade deal. In the letters, Trump informed those 14 countries that they will be facing tariff [00:06:25] rates similar to the ones that he announced on his so-called Liberation Day. Some tariffs are a little bit higher than what he announced back in April, while others are a little bit lower. The tariffs range from as low as 25% to as high as 40%. [00:06:40] Trump also threatened to raise those tariffs if the countries try to retaliate with their tariffs. Moreover, Trump is threatening tariffs against any of the BRICs nations. So BRICs just a refresher is a group of now ten countries whose original members [00:06:56] were Brazil, Russia, India and China. Notably, Iran is also BRICs country on Sunday night. Trump wrote this on Truth Social, said any country aligning themselves with the anti-American policies of BRICs will be charged an additional 10% tariff. [00:07:11] There will be no exceptions to this policy. Thank you for your attention to this matter. All right. So we have talked a lot about how Trump is handling his tariffs. But what do the voters actually think about his trade policies? While Americans and especially independents [00:07:27] are not loving what they're seeing. Here is CNN's Harry Enten with more. Always a favorite. Think tariffs hurt the economy? You know, go back to September of 2024 when Donald Trump was running for president, running for that second term, just 39% thought that tariffs hurt the economy. Look at where this number has jumped up to. [00:07:44] In June of 2025, 57% and just 28% of Americans voters think that tariffs are now good for the U.S. Economy, including just get this. 16% of independents disapprove of Trump's trade policies. In January, it was 40% up like a rocket, up to 54%. [00:08:03] Now, in June, just 35% of Americans approve of his trade policies. And get this just 30% of independents approve of his trade policies. All right, so Trump has now demonstrated on video in public that he doesn't [00:08:20] know anything about his own tariffs. He doesn't know what's going on. He doesn't know who he's tariffs or how much or why. And he doesn't know when he's going to be implementing his tariffs. And in the meantime, the American people are left just wondering what is going on and how their lives are going to be affected by all of this. [00:08:38] And maybe the worst part of all of this and that's, you know, take that with a grain of salt, is the fact that no one knows how they can personally proceed. Right? No one knows what life is going to be like a week from now, or a month from now, or six months from now. How is anyone supposed to plan their lives when there's so much uncertainty [00:08:56] and so much instability when it comes to their money and the economy? Ultimately, we're seeing things like all these polling results showing how much people disapprove of these tariffs from before to now. And it's so it's growing right. [00:09:11] And it's especially amongst independents, especially amongst Democrats. I have to assume that the Republicans who still support this policy just aren't paying attention, or they don't really understand the mechanics of it. But ultimately, life has not gotten better for people, and certainly it hasn't gotten better at the rate that Trump promised that it would. [00:09:30] He said he was going to come in in January and just fix everything for the American people. And that is hyperbolic. But at the same time, I feel like the people who voted for him actually believed that he was this brilliant dealmaker, and he could come in and negotiate all of these tariffs and all these deals [00:09:45] with all these different countries, and he would get it done. But grocery prices have not gone down. Things have not gotten better. If anything, they're getting worse. We're seeing all of our workers getting deported or laid off from their jobs. People are not happy. They're not better off now than they were three months ago. [00:10:01] - What do you think, Jake? - Yeah. So this one has a pretty clear conclusion in my mind. First, let's note that, Trump was hilarious on that July 9th or August 1st. He had no idea. It's your policy, brother. It's your policy. Like. [00:10:17] And solely yours. You're the one who came up with it. Just know the bare minimum, right. The time to tariffs. Tariffs, tariffs with tariffs and lutnick has to step in and go yeah. No no no August 1st. You know we told the schmuck but he can't keep anything in his head right. What where did July 9th come from. [00:10:33] Because that was the 90 day reprieve that Trump gave earlier when his. Liberation. Day and the stock market got liberated up from a couple of trillion dollars. So he's like, I mean, I mean, I mean, I'm doing a 90 day reprieve [00:10:49] comes out on July 9th. Now in July 9th. Did they have 90 days? 90 deals ready as they asked? No, they have honestly no deals. None of those, including the Vietnam one, which is the furthest along. Has any specifics? They haven't announced it at all. [00:11:05] Trump just every once in a while goes. Yeah. That's it. Israel and Gaza have a cease fire. No, they don't have a trade deal with China. And then China has to come out and go, no we don't. You just made that up. You can't just say you have a trade deal with China when China didn't agree. [00:11:20] So I sent him a letter and I'm sending a strongly worded letter. This is nonsense. None of that is going to work. And so, but the thing that you should be really concerned about is when he said nobody better go towards what the BRICs are doing. [00:11:35] So if you read more into it, why? What are what what are the Bric countries doing? They're considering going away from the US dollar and that would be catastrophic. That would be a huge problem for America. So he's made the conditions so bad that the other countries have enough leverage. [00:11:52] Remember, BRICs has China and India in it, let alone Russia, Brazil, South Africa and others that he has read for you guys. So that's a big giant block now representing about 40% of the population of the world if they decide to go away from the dollar. That hurts our interest rates. That greatly increases our debt. [00:12:10] It reduces our economic power. It's a disaster in the waiting. So he can threaten and bully people all he likes. But now, finally, the conclusion is what's going to happen. Some of the rates he's saying on August 6th, July 9th was totally unrealistic. So they moved it to August 1st. And he's saying, no, that's it. [00:12:27] August 1st is final, and we're going to do 40% on some countries, 30% on other countries. Yeah, they might for a week or two weeks. I mean, the outer outer edge would be two months, but I can't imagine that it would go two months. [00:12:43] And then they're going to give up because, it's a dumb idea. It's never going to work. He's going to just get back to where we were before and declare victory and pretended he did master negotiations. Because the rest of the world has figured out how to call his bluff. And when you call his bluff, he's got nothing. [00:12:59] So that's where the rest of the world is. That's why they're not doing deals with us. And when his bluff gets called after the economy does poorly enough, he'll have to turn around. He won't have a choice. And he's a massive flip flopper. So a turnaround is nearly guaranteed. [00:13:16] Okay. Well, I was just going to say very quickly, I know we have to go to break, but I did say a while ago that I feel like one of the things that's going to save this country from Donald Trump is that a lot of the other countries that he's trying to do deals with and trying to make threats to, they're just not going to take us seriously anymore. And maybe that'll be for the best for all of us. [00:13:33] Yeah. No, I don't want that happening. I want a competent leader back in charge of America so that we don't have this clown show. Every time you ring the bell below, an angel gets his wings. Totally not true. But it does keep you updated on our live shows.