Tariffs and Economic Dynamics

The stock market just had its worst day since 2020, and Trump’s proposed “Liberation Day” tariffs are at the center of the storm. The administration is arguing that these sweeping international tariffs will be a win for American workers—promising to bring manufacturing back home, reduce the trade deficit, and generate revenue. But history—and economics—tell a more complicated story.

Today, Nicole is joined by investor, author and podcaster James Altucher to break down what these tariffs will mean for the U.S. economy. Together, they dig into the real-world impact on inflation, jobs, trade relationships, and the markets. Is this the beginning of a new era of economic strength, or a fast track to recession?

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