Make Me Smart We have a trade deal with Japan, right?
Jul 25, 2025
The podcast dives into the murky waters of a supposedly 'massive' trade deal between the U.S. and Japan, examining conflicting interpretations of tariffs. Wealthy Democrats express discomfort with Trump's tax cuts, highlighting the complex relationship between wealth and inequality. Artificial intelligence's struggle with fragrance replication adds a unique twist, while the rise of meme stocks and their implications for local businesses spark intrigue. Listeners engage through polls, showcasing their optimistic outlook amidst economic challenges.
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Unclear Japan-US Trade Deal Terms
- The US-Japan trade deal announcements lack clarity and binding agreements.
- Japanese officials contradict US claims on investment profits and deal terms.
Tariff Costs Absorbed by US Firms
- US companies are absorbing the costs of Trump's tariffs instead of consumers or foreign countries.
- This cost absorption may not last, and prices could eventually rise for consumers.
Wealthy Democrats Oppose Tax Cuts
- Some wealthy Democrats oppose large Trump tax cuts despite benefiting.
- They feel conflicted as their wealth is seen as a threat to democracy and social justice values.