I'm John Betts with my colleague, Joseph Sternberg, member of the editorial board of the Wall Street Journal.

He's in London.

He writes political economics about things I can understand, like the Federal Reserve.

That's a joke, Joe.

I understand some of it, but I follow you all of it.

However, I now come to a headline in his newspaper that tells us nobody

knows what's going on. Always an exciting moment in history. Trump says he settled on Liberation Day

tariff plan, but doesn't reveal it. Joe, what is Liberation Day? Why don't we know what it is?

That's one way you calculate stability in markets.

You have an anticipation and you make plans for it.

Is everybody going to be surprised when the roosters get up tomorrow?

You know, John, I'm beginning to think that Liberation Day isn't about the destination.

It's about the friends we make along the way.

Okay.

Because, you know, you're absolutely right.

What is ridiculous about the situation is that we are all waiting for a decision.

And I mean, President Trump says that he has made the decision.

Maybe he has made a decision.

We may never know if the decision that he has currently made is going to be the one that he will announce tomorrow

or if he's going to make another decision.

But what we're talking about is major economic policy changes for the American economy. I mean, I think that we have not seen

this kind of shift back toward protectionism in 80 or 90 years, if that. I think that kind of

...