Any idea how long the short-term pain will last? (04-04-2025--Hour1)
The Pete Kaliner ShowApril 04, 202500:38:1935.13 MB

Any idea how long the short-term pain will last? (04-04-2025--Hour1)

This episode is presented by Create A Video – We've been told that the global tariff regime rolled out by President Donald Trump will create short-term pain for a long-term gain. But I haven't seen any estimate on how long "short-term" is.

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[00:00:04] What's going on? Thank you so much for listening to this podcast. It is heard live every day from noon to 3 on WBT Radio in Charlotte. And if you want exclusive content like invitations to events, the weekly live stream, my daily show prep with all the links, become a patron, go to thepetekalendershow.com. Make sure you hit the subscribe button, get every episode for free, right to your smartphone or tablet. And again, thank you so much for your support. Hang on a second. Let me just check the market here real quick. Remain calm!

[00:00:38] Okay. So, yeah, sell-off continues. But this is the short-term gain, or pain, sorry, short-term pain. This is the short-term pain for the long-term gain. And I'm just curious, how long is the short-term pain? Anybody know?

[00:01:01] Is it like a month, two, three, four, five, six? Or does it, have you even thought about that? Is this a litmus test that you're putting me and anybody else through? And right now I'm speaking to people who really love Donald Trump.

[00:01:22] And once again, just to be clear, I voted for Donald Trump. However, Donald Trump is an elected politician. He is the head of the government. I don't trust my government. I don't trust anybody that is in that office to tell me the truth at all times. I think American history is pretty replete with examples of why we should not.

[00:01:47] Now, I've been told that, and I went over this all yesterday, and I apparently have to keep hammering away to say, I don't know if Donald Trump's tariff regime is going to work. It's freaking better. I'm just going to say that. It better. Because a lot of people are going to get hurt really badly if it doesn't. So, I hope it does.

[00:02:14] I hope he is the one guy who can crack the code that virtually every economist of the last century has said, this is not a good economic policy to pursue. It creates inflation. It drives up prices. It's a tax on your own people.

[00:02:36] Like, all of that school of thought. Every one of them are wrong. And Donald Trump is right. That's what I'm being told I have to believe.

[00:02:52] Now, you may not know this about me, but I am a bit, hmm, I have a bit of an anti-authority streak in me. Now, it's true. From the very beginning, I was like this, a bit of contrarianism, oppositional defiance, whatever you want to call it.

[00:03:11] And so, when GovCo people tell me things, I'm a little skeptical. And so, when somebody comes along and says, the way that we have been doing this stuff for 100 years and the free and fair trade, this idea that trade is a rising tide that lifts all boats and has lifted the globe out of poverty, which, by the way, it has, just for the case you weren't aware of that.

[00:03:39] That, like, there are fewer people living in poverty now than ever before. And we have a larger population than ever before on the face of the planet. And I would submit that that's probably better than the alternative, right, where more people become impoverished. But that whole philosophy, the whole idea that setting up protectionist policies ends up hurting the country that sets them up.

[00:04:09] As I said yesterday, maybe I'm just a fish that doesn't know it's wet because this is the water I've been swimming in, because this has been the accepted understanding of economic theory my entire life. Because the mistakes were made in prior generations. They learned from those mistakes, said, let's not do that. Let's repeal those things. Let's, you know, change course. And they said, this is a better course. And now we're going back to say, no, no, no, that's all been wrong.

[00:04:37] What the original thing that they shifted away from, that's what we need to go back to. And that's what, that's what we're all being brought along for. And that's why I said Donald Trump better be right. Because he's pinned his legacy on it. He's pinned your fortunes, literally, on it. Your standard of living, my standard of living. He's, he is, you know, risking global trade wars. He's, he's, he's upending everything.

[00:05:06] And I know people who love Donald Trump and trust him. I know that you are trusting that he knows what he's doing. And maybe for you, it's not even a thought that crosses your mind that he may be wrong on this. There's no way he could be wrong on it. But again, I have a little bit of skepticism about it. And here's the thing. You're not going to shame me for it.

[00:05:36] I've seen your emails and your tweets and all this. You're not going to shame me for being skeptical of it. Because when I'm skeptical of the Democrat in the White House, you love it. But if I'm skeptical of Donald Trump, now I'm a globalist. Do you hear yourselves? It's just, I don't say this, like, I don't have any animosity or anything. It's just, this is not.

[00:06:00] But, so if you're going to set this up as a litmus test and you're going to say that if I don't agree with Trump on every single thing that he does, that flies in the face of not just what I prior believed and still do, but also all of the understanding of economists, Austrian economists and such. That I'm now supposed to just discard all of those beliefs, those ideas, because Trump is saying something else. Now you can do that. That's totally fine.

[00:06:30] If you would, you know, you hadn't had any thoughts about these things before. And now Trump says, no, no, no, everybody's wrong. I'm right. And you're like, okay, I'm going to go with Trump. Okay. But it's not going to change. It's that doesn't force me to change too. And threatening my job is not going to do it either. I, I made a good living before I got back to WBT.

[00:06:55] So your threats about that stuff don't actually, they don't land the way you may think they do. And if this isn't, if you haven't thought these things, said these things, emailed these things, I'm obviously not talking to you. I'm just letting others know that it, that it doesn't work on me. I don't need to cheerlead for policy that I don't think is correct.

[00:07:23] And me pointing out the problems or raising the questions of the policy doesn't mean I hate Trump. And it doesn't mean that I want him to fail. And it doesn't mean I hate America. And it doesn't mean I'm a globalist, all of these things. Okay. So I just want to set that, set that out on the table before we begin, because this is going to be a bumpy ride. That's what the White House says.

[00:07:47] So if you don't want to hear about the bumps, then I guess, you know, tune out from the, from the news for however long the short-term pain is. And again, I don't know how long that short-term pain is going to be. There was a famous quote, I think it was Reagan. He said, you know, he's looking for a one-arm economist. You ever hear this joke? The one-armed economist? All right. If you're listening to this show, you know, I try to keep up with all sorts of current events. And I know you do too.

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[00:09:10] Your subscription then not only helps my podcast, but it also supports Ground News as they make the media landscape more transparent. Kevin writes in to Pete at thepetecalendorshow.com. He says, I really do hope this is six-dimensional chess with these tariffs. But Pete, remember, this is the same guy that said Haitians are eating the dogs and eating the cats. That one statement flipped the switch in my head.

[00:09:40] I hoped I was wrong but had suspected something isn't quite right. All right. So I said I would tell you about the one-armed economist. I believe it was Ronald Reagan. And he made a joke about how he wished he'd only had one-armed economists on staff because whenever he would talk to his economists, they would say, well, on the one hand, this could happen and it would be good.

[00:10:08] But on the other hand, this could happen and it would be bad. And then on the other hand, this and that and whatever, right? And what's the premise of the joke there? The truth that makes the joke funny, which is that it is nearly impossible to predict a national global economy and the reactions and the movements and all of that

[00:10:35] because of all of the factors in an economy. I keep hammering away at this point. The free market is all of us. It is you. It is me. That is the free market. When you go to the store from the time you choose to go, right, to the sale that they may be offering, to the products that you purchase,

[00:11:01] at every single step along that journey, there are an infinite number of factors at play. Impulse buying at a grocery store. Stuff like that. Marketing you saw. Do you remember? Did I need to get that coffee? I don't remember. I'll just go ahead and buy it. You see, like there are all these factors that central planning can never account for.

[00:11:32] So stay free. And the more that you get GovCo involved in these kinds of command control decisions, the less free the free market you will be. That's always been sort of my baseline. That's like my default position is always towards more freedom. That's not to say I cannot be persuaded, as I have repeatedly said, but people don't hear,

[00:11:59] which is that if this all turns out to be to play out exactly as everybody is telling me it's going to play out, and this is all going to be awesome for America, then I will obviously change my opinion because I don't hold opinions that I know to be false.

[00:12:22] But my question is, if it doesn't turn out that way, do the proponents change their opinions? Or is somebody else to blame for that? Is it going to be another sort of not my fault like Gary McFadden, our sheriff, pulls? It's always somebody else's fault if it doesn't work out, you know? There was a call I got years ago during the 2008 election. It was right after the 2008 election. I was sitting right in this chair.

[00:12:51] And a guy called in, and he said he never thought he would see the day when America would elect a black president. And I asked him why. And he said, well, as a black man, I didn't think that white Americans would ever vote for a black candidate. This is after Obama had won. And so I asked him, does your opinion of Americans, white Americans, does that now change? And he said no.

[00:13:19] So even when the evidence came back and proved that his opinion, his belief was incorrect, he still couldn't change his opinion. That's bigotry, by the way. That's what that is. So that's what I guard against for myself. Again, your mileage may vary. All right, let's go over and talk with Clyde. Hello, Clyde. Welcome to the show. Hey, good afternoon.

[00:13:49] Enjoy your program. Thank you, sir. What's going on? I think he's playing a big game of chicken in this deal. And if you're not going to see all these tariffs on there for very long because he knows how to make deals. And I'm thinking within a few days, you're going to start seeing a bunch of them disappear because he's calling out these people for screwing us for years. Nobody else has had the gonads to address this problem.

[00:14:16] But I think he's just playing chicken with these guys, and they're going to blink first on this deal. So when playing chicken, I'm thinking in terms of like, you know, two guys in the 50s, you know, with their hot rods driving towards each other, and then one of them is going to pull away, you know? So what happens if neither side pulls away? Well, then that's the problem. And you're exactly right. You don't know what's going to happen.

[00:14:41] But we've got the leverage on this and, you know, the riches and so forth. And I think it's what's going to happen. That's just my opinion. Yeah. Well, I mean, that's speculative. And I'm hoping that if that is the play, which, by the way, the White House said it wasn't, that they're not trying to negotiate this stuff. But maybe they are and they're just lying and saying that they're not trying to negotiate. I don't know. I don't know. And that's the concern, is that they may not have a strategy.

[00:15:09] You're assuming that that is the strategy and hoping that it is the case. Because if it's not, then it's going to get very bad. That's true. And I'm just hoping that's, you know, the way he's dealt with things in the past and he's got this little brain power that we don't know about. I'm thinking that's exactly what he's got in mind, I think. Well, let's hope so. Clyde, have a great weekend, sir. Appreciate it. All right, buddy. Yeah, see you.

[00:15:39] China announced today that it's imposing tariffs on us. It's increasing its tariffs. Imposed 34 percent tariffs on the U.S. That's the same amount that Trump put on them. So reciprocal, you might say, although ours were reciprocal. But now there's a reciprocal. You see how trade wars start? Because there is a there is an incentive to escalate. The new tariffs from China against the U.S. go into effect April 10th, according to the Wall Street Journal.

[00:16:11] And then there's this from the communists over there. This gravely. He's talking. They're talking about this is. Hang on a second. This is their foreign ministry spokesperson. Wow. Who said I think I pronounced that right. He says. I think it's a he. He says. This gravely violates World Trade Organization rules and undermines the rules based multilateral trading system. And we have a lot of experience doing this, too. So we would know.

[00:16:41] Like, guys, you're you're not the ones to make this argument, China. You guys are not the ones to make it. And remember, rule number one when dealing with communists is what? Communists lie. They lie. So I don't care what your rationale is. You want to slap the tariffs on in retaliation. Go for it. I expected that. I expect, by the way, me personally, I have no idea if this will happen and I hope it doesn't.

[00:17:10] But my expectation is that a whole bunch of other countries are going to hit us with these taxes, too, with the tariffs also. That's my expectation. Now, I hope I'm disappointed and not disappointed, but I hope I'm wrong. So like. Because if I'm wrong, then they don't hit us with all of the tariffs and we've got a good resolution. That's awesome. But. Yeah, no, I'm. Yeah, maybe maybe that's a little pessimistic.

[00:17:38] But that's how I think these other countries are going to start reacting if they can't get their own carve outs, as Clyde said. So now everyone's going to go and negotiate with Donald Trump separately to try to get the deals and all of this. So, by the way, I have a question regarding because Clyde also mentioned that, you know, no one else has stood up to these other countries and did this thing. And and it's important to keep in mind that there is a difference between a trade deficit. And. Barriers that includes tariffs. Trade barriers.

[00:18:08] A trade barrier. Yes, can can impact the trade deficit. But a deficit does not automatically mean that there are barriers in place or tariffs in place. That's not an automatic thing. It's like a square is a rhombus, but a rhombus is not a square kind of a thing. A barrier can, yes, create more trade deficit. But a trade deficit doesn't automatically mean that they've got barriers.

[00:18:35] It might just mean, for example, if I'm digging a lot of coal. My country is dirt poor, but we got a lot of coal. And so our people, my people are digging coal. We don't have any factories to do anything with it because we are poor. We have no investment. We have we have no roads. We have a barely functioning government or whatever. And so we dig out this coal and.

[00:19:05] America comes along and says, hey, we'll buy that coal. OK, this was this was like a decade or so ago before we banned all the coal, but you get the idea here. So like we'll buy that coal. So they buy all of the coal. So now my poor country is selling all of this coal, but we have no money to buy anything from America. So we have a surplus. We have a trade surplus because we don't have any money to buy the stuff that you're making. Because we're poor. So are we.

[00:19:35] Are we cheating? Are we taking advantage of America? Are we like. This is the problem with this way of thinking about a trade deficit. A trade deficit is different than just a like a fiscal deficit on on your government books. I think a lot of people are are are conflating these things together. That somehow it's a loss of money.

[00:20:00] And it's it simply means that we are buying more from another country than they are buying from us. And by the way, the data that the White House was using is only for goods. It's not for services. And America is 77 percent service based economy. So. Keep in mind, here's a great idea. How about making an escape to a really special and secluded getaway in western North Carolina? Just a quick drive up the mountain and cabins of Asheville is your connection.

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[00:21:23] Call or text 828-367-7068. Or check out all there is to offer at cabinsofashville.com and make memories that'll last a lifetime. Alrighty, so let's get to some of the emails. First, Joseph, who says, Pete, you're letting the markets and the business pundits activate your spiritual boomer. That's not true. Um, it's been two days.

[00:21:50] So when I started the show, I made a joke about the markets being down again as they were yesterday. And so I asked the question, how long is the short term pain? And so this is the attack on me for asking how much pain are we actually looking at and for how long? And for just asking the question, I am, what did he say here? Activating my spiritual boomer. Dude, I'm a Gen Xer. Pound sand, dude. It's like, that doesn't, that doesn't work on me.

[00:22:18] I, the Gen X, like I am more towards the individual than the collective than the boomers were. So, um, this globalist con has been going on for 40 years. It's not going to go quietly, but it must go. The $200 50 inch flat screen isn't worth a hollowed out nation of gig workers and only fan models. That is a false choice.

[00:22:39] Um, but Dually noted that we will own nothing and be happy, which sounds a lot like somebody else I've heard recently talking about. A new reset of the, the global order. No, I'm just look, I'm sure, I'm sure everybody's going to be very satisfied going back to a, a factory job, twisting caps onto toothpaste tubes,

[00:23:08] sewing Nike sneakers and such. Um, and then, uh, making, you know, 80, 90, $100,000 a year for that factory job and only being able to afford, you know, a single television in the home. Right. See, I can play the false choice game too, Joseph. Come on, man. Um, Greg says, uh, my biggest gripe with Donald Trump being the nominee in this recent election is his loyal MAGA following.

[00:23:37] There are a lot of independent thinkers and smart folks in MAGA. Sure. But most of the MAGA people I know are much more shallow on the issues and they just love Donald Trump no matter what. Um, and by the way, that is always the case in, you know, in any election with any candidate, there are people that just love the candidate and, and, you know, the facts don't matter or whatever. That's enough. You know, like that's their guy. They look at it like a team sport. Um, I think there's a main source or sorry.

[00:24:07] I think that's a main source of this crazy tariff dump. He just released. He knows that he will remain the savior to most of his base, no matter what he does. As my point is a politician that doesn't fear losing his base is sure to be reckless and take large risks like the one we are witnessing now. But I hope it works. Um, Rick says, I suspect that Thomas Sowell is highly regarded across the political spectrum, but particularly so among those who lean to the right.

[00:24:37] His book, Basic Economics, is an excellent source of information to help one better understand how economics work. In Basic Economics, the book, there is a chapter on international trade. He explains very clearly why tariffs have unintended negative consequences and cites historic examples. I recommend this book highly.

[00:24:58] I do actually have Thomas Sowell gave an interview a couple of, uh, it was a couple of years ago, but it was, I think during the first, I've got it here someplace in the stack of stuff. Uh, his, his, his commentary on the first round of tariffs that Trump did in the first, uh, term. Um, so let's see, here is Chuck. Oh, it sounds like you climbed on the fence, Pete.

[00:25:23] Pete, see, this is the kind of stuff I get when, when I disagree with anything Donald Trump does. I don't have to attack Donald Trump. I don't have to say anything negative about him. No, no, it's just, hey, he did something. It's like, I don't, yeah, I'm not a fan of that policy. And it's like, you suck, Pete. Like, guys, really? Really? So you're saying that I have to agree with every single thing Donald Trump says and does? That's ridiculous.

[00:25:52] That's ridiculous. There isn't anybody you should agree with 100% of the time. Chuck goes on. He is not a politician. He is the president. No, Chuck, he's a politician. In fact, he said he was. He said he was. He made a comment at a, at a stump speech a couple of years ago. And he talked about politicians. And then he said, well, I guess I am. I guess I'm one of those politicians now, huh? Yeah.

[00:26:18] When you run for a political office and then you win that political office and hold it and then run again for reelection and win it again, you're a politician. He's, he's not, not a politician just because you like him. Politicians have been running this caca show for how long? He's had to fight dang near everyone, every step of the way. Why not? Good Lord. Give him a chance. What have I said?

[00:26:48] What have I said for the last 24 hours since they unveiled this regime? What have I said? This goes against everything that I have ever learned about tariffs and international economics. And maybe I'm wrong. And maybe all those other people have been wrong all this time. And if you think that that's the case, good on you. Doesn't matter to me. I really don't care if people disagree with me.

[00:27:15] But apparently people think people really do care if I disagree with them. So I hope it works. It would be fantastic if whatever it is that they're trying to do works and it redounds to the benefit of Americans. And then I will discard all that I knew or thought I knew about international economics and tariffs. That's what I've said. But this is too far. This is a bridge too far.

[00:28:08] All right. I'll see you. I'll see you.

[00:28:31] I was also advised yesterday to stop scaring people by talking about the tariffs and the concerns that I have about them. No, I'm not going to stop talking about the concerns I have about what I'm seeing. That's literally what I do.

[00:29:03] You're talking about a reset of the global international trade order. I think it's worth a couple of conversations. No? Eric, welcome to the show. Hello, Eric. Hey, Pete. Hey, what's up? It's not that. Here's my point or my problem with the argument that you've been taking. Which argument?

[00:29:29] That the tariffs, like, you know, that all these economics or economicists, you know, they're against tariffs. It's bad. It's going to be terrible. All that. I've not made that argument. Okay. But here's my point. Let me just make my point. Well, yeah, but if you're going to. But it sounds like you don't know what my argument, what I've said. So if you're going to make a point that's like in counter to. It's a counter argument to something I've said. I would like it to be something I've said.

[00:29:57] Well, having you said that, you know, all these economists throughout the years through, you know, 100 years of history are saying tariffs are bad. Yeah, that they. Right. They for. Well, they do a number of things that are, you know, unintended consequences. They create inflation. They stifle innovation. They are taxed on the the domestic population. Okay. Well, here's here's my my problem is. Okay. We know.

[00:30:24] I think I think we agree that all these other countries are using tariffs. I'm not. I know you've made the point that I listened yesterday that said, well, that's bad, too. But the problem is they're doing it. So how can we fight that? Do we just unilaterally say, which is what we've been doing for 40 years and not have a lot of tariffs? So countries have taken advantage of that. So what's our response? How can we correct that? Right.

[00:30:50] So if I said this yesterday, too, that if the approach was to actually do reciprocal tariffs, for example, you got a country that, you know, sells a lot of bananas into our country. And we and then we try to sell something into their country, say, you know, I don't know, banana milkshakes. And they are like, well, we're going to tariff your banana milkshakes. Okay. Well, then we're going to tariff your bananas at the same rate.

[00:31:19] But like that would be a reciprocal tariff. Right. Right. But isn't what Trump's. I agree. I agree. I would have liked to see Trump just do reciprocal if Vietnam was charging us 30 percent. We we would do 30. But I think his approach was, OK, I'm not going to go that hard line yet. So I'll say I'll cut these guys a break and say we won't we won't do full reciprocal yet. But I guess this is the argument from the one side that doesn't like this.

[00:31:49] It seems to be like a unilateral surrender, like let's just keep doing what we're doing, which look what has bought us. No, that's not that's not. I have not heard anybody say let's just keep doing what we're doing. There's no disagreement that if you've got an unfair trade practice going on and you want to target with with reciprocal tariffs, that that is a legitimate thing to pursue. Right. To go after another country or to, you know, to slap them with tariffs, which apparently that's the only thing you can do with tariffs. It's only slapping. I don't know why, but you only slap. Right.

[00:32:19] So that's it. Yeah. I don't know what Donald Trump has thought about tariffs for decades. Right. He said the same thing about tariffs, but he also seems to just like tariffs as the end in and of itself. He he sees tariffs as just a good thing to do.

[00:32:45] And it it may not even be a means to a different end, because if you could go to zero, like, for example, South Korea, South Korea, you know what their their tariff is on America? It's like less than one percent. And we just nailed them with the 10 percent baseline plus more. Brazil has a we have a surplus trading against Brazil and they got hit with tariffs. That's what I mean.

[00:33:13] This doesn't make sense, unless, of course, it's just because you like tariffs. That's the problem. Yeah, I agree with that. I don't know that kind of detail. And if that's true, then, yeah, I don't agree with that. I agree with I think where you're at. If you said, yes, I agree with doing reciprocal tariffs. But I just don't think we just do nothing, which is pretty much is what's been happening for the last whatever, since maybe NAFTA or 90s.

[00:33:42] And it seems like that's not the way to go. And Trump's at least trying to address it. Yeah, no, look, he is definitely trying to, you know, turn over the tables and prompt a, you know, a radical realignment of some kind. And the problem is, I don't know what that what that looks like. I don't know what the end goal is. And I keep getting mixed messages. And then I'm told, well, that's part of the strategy is for everybody to be confused.

[00:34:07] And so then when I express the confusion, I'm then attacked because I'm confused. And I'm told basically shut up and just follow along. It'll all work out. And like I'm not I'm not going to do that. So I keep so I'm just pointing out the confusion and the questions that I've got, like Brazil. I think you mentioned somebody mentioned Vietnam. I think you may have mentioned just mentioned Vietnam.

[00:34:30] You know, Vietnam just moved a whole bunch of or companies moved a whole bunch of their production lines out of China into Vietnam in order to comply with Trump's tariff stuff last time. So now they've moved everything to Vietnam and now Vietnam just got nailed. So it's like, what do you like? What is it that we're trying to do?

[00:34:50] And, you know, if if the tariffs go up and they reduce consumption of these foreign made products in America and those companies are going to try to stay in business and make sales, who do you think they're going to sell to? I suspect they're going to sell to their neighbors.

[00:35:08] And that's a concern also that I've got is that you're basically pushing these these other countries to deepen their ties with communist China and help communist China when it actually looks like right now they're in some severe problems. They're having severe problems. True, but don't don't we have the leverage? I mean, everybody wants to do. We have some. Yeah, we have a lot. Yeah. It's China. I mean, they're not going to let other like France or some of these other countries get into their market either.

[00:35:38] So it feels I feel like we have the leverage if we can. They'll let course. But I do. They'll let Southeast Asian nations like they're going to just like their Belt and Road initiatives. They're going to they're going to try and deepen those ties with their neighbors because they're trying to create a hegemony there or hegemony there. You know, they're trying to assert control over that sphere, that hemisphere.

[00:36:02] And so my concern is that this gives them a really good, a really wide lane to run in. Yeah, I agree with you that I'm also in the camp of, OK, there's definitely some skepticism, a little worry of where's this going to go. But again, it hasn't been ever tried. Like, I think it's worth the effort. Yes, this could turn out badly, but I think something had to be done.

[00:36:28] Right. Yeah. Look, again, I can agree that that the course needed to be corrected. I can agree that reciprocal tariffs would be appropriate when you're dealing with barriers put up by other countries. Absolutely. But I like I don't know if this is the way that is that you best achieve that. And again, like the as I said, like there are unintended consequences to this. And this like tariffs have been done over the course of the last millennia.

[00:36:59] These things have been done. And America has a history that economists look at and they see the results. And it's like, yeah, this is generally not a great thing. And also these these figures that the that the Trump administration has been using are not they don't include services. And we we quote export a lot of services and people disagree with that. And that's a fundamental question.

[00:37:25] I think that's at the heart of this also is that there are people that want to see America go back to a predominantly manufacturer, manufacturing export country versus a services export country. And so that's why they like this idea is they think it's going to get them there. It's going to get us there. But we're already then we're still the number two manufacturing country in the world behind China. All right. That'll do it for this episode. Thank you so much for listening.

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