Prof G Markets Liberation Day 2.0 Is Here — When Will We See the Tariff Fallout?
186 snips
Jul 14, 2025 The hosts dive into the potential repercussions of Trump's new tariffs and how they might spur international deal-making. They debate the risks of the TACO trade backfiring as they analyze the changing landscape of consumer health trends. With rising backlash against junk food, they discuss its economic implications. As second-quarter earnings approach, they ponder how tariffs could impact financial reports, adding a layer of suspense to the market's performance amid turmoil.
AI Snips
Chapters
Transcript
Episode notes
Scott's Vacation Minibar Story
- Scott Galloway shared a childhood vacation story about trying everything in a minibar, which enraged his father.
- He recounted memorable trips to La Paz and Niagara Falls, emphasizing a Canadian girlfriend as a real highlight amid tariff talks.
Tariff Impact Is Overestimated
- Markets barely react to Trump's tariff threats because tariffs exclude many products and actual rate increases are modest.
- The global trade system disproportionately benefits the U.S., especially high-margin innovative companies like NVIDIA, risking disruption from tariff threats.
Taco Trade Could Backfire
- The 'taco trade' might backfire as markets don't panic about tariffs anymore, potentially emboldening Trump to enforce them.
- Market complacency might lead to tariffs proceeding, which previously were rescinded due to market backlash.