Fed-up Japan LEADER BLASTS Trump as INVESTORS FLEE

Fed-up Japan LEADER BLASTS Trump as INVESTORS FLEE

pretty soon, sooner than most people think, because that’s what other countries have been doing to us. Just so you understand, they were tariffing the hell out of us. We couldn’t sell cars in Europe. We couldn’t sell cars in China. We couldn’t sell cars in Japan or anywhere else. It takes a special kind of stupid to take a growing US economy and throw it into reverse. US is saint is already an impossible task. The theory is already a mess and there is no consistency whatsoever. However, if Japan were to negotiate about what they have been saying, to put it bluntly, it would be like a delinquent kid extorting someone. If Japan listens to the and bends the other way in response to the impossible demands of bargaining and deals, it will set a bad example as a customary and historical precedent. As Trump broadcasts his concept of a deal with the UK as the best thing to come out of America since Beyonce, strategists from the Bank of America discussed the other side of the coin, you know, the one that you usually find face down, dirty and rusted. You Donald Trump is backed into a corner. His grand plans of tariffs, tariffs, tariffs aren’t working right. You’re seeing day in and day out more business leaders whether it’s Warren Buffett or Jamie Diamond or Ken Griffin on big global stages saying this is going to crush us economically and then you’ve got congressmen senators from every state saying to this White House our small businesses are strangling are dying here. I’m not saying Donald Trump has changed what he thinks in his heart but he’s backed into a corner and he needs to get off this crazy tariff train and he knows it. So what did we see with England? Right, Great Britain. You’ve got a PM mayor who’s a close ally of Donald Trump and they’re saying, “Let’s put on a show. Let’s create a theater and let’s say we’ve got a deal.” And yes, there aren’t any details to it. There is still a 10% tariff, which is why J. Powell is not cutting rates because 10% is more than triple what it was. So, it’s still going to be painful, especially for small business. But what’s most important is the language around China. A week ago, China was like, “We’re not showing up unless you lower the tariffs.” And we didn’t. 48 hours ago, Donald Trump said, “We’re not going to lower the tariffs.” Yesterday, he said, “Yeah, maybe.” And today, things are softening even more. So, I absolutely agree with you that Donald Trump is looking for some sort of exit here. With the headline on CNBC, investors fled to Europe and Japan after Trump’s tariffs jolted US markets. CNBC reported that stocks on Wall Street and beyond have been rocked by volatility in recent weeks as a result of Trump’s on again offagain tariff roll out. There’s much more work still to do. With respect, are you overstating the reach and significance of this deal? Because you’re a president who needs a result at a difficult time. I think that it’s a great deal for both parties. It’s for us. We’re opened up. Uh I didn’t know how close it was quite closed the market as you know the UK and it opens up a tremendous market for us and uh it works out very well very well and uh a lot of a lot of assets you see the chart and those are tremendous assets but we’ve been trying and when you say why us meaning your country uh we’ve been trying for years and they’ve been trying for years to make a deal including when I was in the you know first term uh it would always the people talking but they weren’t getting it done but for 25 years before that they were trying always to make a deal a u a very significant deal I actually until I looked at the numbers I didn’t realize this is a very uh conclusive deal but we think we can grow it even from that but this is a maxed out deal not like you said it you said it uh really incorrectly this is a maxed out deal that we’re going to make bigger uh and we make it bigger through growth But we have uh tremendous assets involved. I was surprised to see how big your country is in trade actually one of the biggest in technology and so many other things. It’s agriculture. Uh I really didn’t know it’s uh depending on your definition it’s from four to five to six. It’s that’s pretty big in the world. Strategists at the Bank of America shed light on where some of the capital flowing out of the US may be heading. According to their analysis, US equities saw an $ 8.9 billion outflow in the week of April 30th. At the same time, European equities saw a $3.4 billion inflow. Meanwhile, Japanese equities saw $4.4 billion in inflow in the week to April 30th, its biggest week of inflow since April 2024. Now, according to Bank of America, this is a sign that investors are shifting their focus away from the United States to other countries. Something that economists have warned about frequently as Trump remains steadfast in his plan to well impose tariffs kind of, but not really. Okay. On some like the country of Mattel, Mattel, I don’t know some I’m not so sure. They they also said they they’re the only country I’ve heard they said, “Well, we’re going to go counter. We’re going to try going someplace else.” That’s okay. let him go and he’ll have we’ll put a 100% tariff on his toys and he won’t sell one toy in the United States and that’s their biggest market. Um I heard that I mean I watched this guy talking about how I’m going to go counter. I said well I wouldn’t want to have him as an executive too long. A source telling CNN tonight that Trump is going to announce a trade deal with the UK tomorrow. Is that something you would consider a a major trade deal? No. So, let’s uh get some numbers and some context for the people at home. Um, the United Kingdom, wonderful country, lovely people. Love myself some fish and chips. Don’t mind their beer. But they’re our 11th largest trading partner. They account for three, count them, 1 2 3% of American trade. And if I took off all my shoes and socks and got four more people in the room, I’d be able to tell you that that leaves 97% of American trade absolutely up in the air. Now, Laura, I want to sh tell you one more fact that will blow your mind. Go back six weeks ago. The average tariff the United Kingdom charged to countries around the world was 1%. That’s the stakes here. So, the best we can do is knock the United Kingdom down from 1% to zero. And it’s already clear we didn’t get them to zero. And along the way, the president is imposing a 10% tariff on the United Kingdom, making it harder for American business, Americans to do business with trading partners uh o over in the old dart. So why do you think he’s announcing this with the UK? What what is the game plan here to suggest that this is much much bigger deal than you say? Oh, I the president’s a showman. He’s going to tell you that there’s all sorts of wonderful things about it. This is a country with a king and a queen and they have beef eaters and all sorts of things, but they’re they’re not remotely central to us. The other thing to realize about the United Kingdom, bless them, but um they’re sort of the guys who walked away from trade very recently. They’re particularly looking for friends. You you might have been at high school once and there was someone who told their whole group of friends to go stuff themselves. Uh that’s the United Kingdom. And once you do that to your friends, you very quickly go looking for another friend group and you’ll find that other friend group wherever you can. And as we’ve discussed before on the show, right, it’s not so much the economic policy itself that is a disaster, which it is, but the sheer lack of clarity and direction that has American consumers turning on the man that even his most staunch supporters once claimed to be the best fit for handling the economy and have since changed their mind, which according to recent polls is no longer his ace in the hole. He’s just in a deep hole and struggling to find a way out. Donald Trump has come back down to earth a little bit. When it comes to the economy, new polling shows a significant number of Texans aren’t buying what the president is selling. Whether it’s his handling of the economy, his handling of prices, you know, his numbers are are net negative with the negatives being higher than the positives. And that means that um you know there he’s got a problem out there. The University of Texas and the Texas Politics Project puts the president’s approval rating on the economy at minus 6 points. The plurality of Texans saying they strongly disapprove of the administration’s work. When it comes to tariffs, nearly three out of four Texans say tariffs will contribute to higher prices. Even in the long term, more Texans say tariffs will hurt the state more than help it. He’s not driving Republicans away, but there are signs that there is more doubt among Republicans um about how the president is handling the economy. Still, the president is in positive territory on his overall approval rating, albeit marginally so. Much of that is carried by Republicans near universal approval on the president’s work on immigration and border security. Nine out of 10 Republicans say they support what he’s doing. significantly. For the first time since August 2021, Texans identified neither border security or immigration as the top issue for the state. What does that say to you about where things stand today with the president? Well, I mean, I think that the president is is experiencing a challenge that’s, you know, he didn’t experience in 2016. A far cry from the man once boasting from the campaign podium about how he would put more money back in the pockets of consumers, now talking about rationing toys and pencils. So, when I win, I will immediately bring prices down starting on day one. You were at your cabinet meeting. You said, quote, I’m going to quote what you said. Maybe the children will have $2 instead of $30, and maybe the two dolls will cost a couple of bucks more than they would normally. Are you saying that your tariffs will cause some prices to go up? No, I think the tariffs are going to be great for us because it’s going to make us rich. But you said some dolls are going to cost more. Isn’t that an acknowledgement that some prices will go up? I don’t think a beautiful baby girl needs that’s 11 years old needs to have 30 dolls. I think they can have three dolls or four dolls. Uh because what we were doing with China was just unbelievable. We had a trade deficit of hundreds of billions of dollars with China. When you say they could have $3 instead of $30, are you saying you’re Americans could cease empty store shelves? No, I’m No, I’m not saying that. I’m just saying they don’t need to have $30. They can have three. They don’t need to have 250 pencils. They can have five. Love this video.

Japanese politicians are furious at Donald Trump for his tariffs on Japan, one of America’s strongest trading partners. Francis Maxwell reacts.

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