John is joined by longtime Wall Street eminence and former “car czar” Steve Rattner to discuss the impact of Donald Trump’s tariff jihad on global financial markets and the American economy. Rattner explains why the theory of the case animating Trump’s protectionist agenda is “disjointed,” “illogical,” and “incoherent,” and its execution has been even worse; why the reputational damage the U.S. is suffering as a result among its allies around the world will be difficult to undo; why the claims by Trump’s advisers that last week’s abrupt policy shifts were all part of some master plan are ludicrous on their face; and why the endgame of the full-scale trade war now underway with China is impossible to foresee. Rattner also assesses the degree of fiscal irresponsibility Republican budget plan making its way through Congress—and whether the chickens may finally be about to come home to roost when it comes to America's unprecedented debt and deficits.
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