presented by the Vapor Technology Association.

Hello, I'm Adam Wren.

And I'm Zach Stanton.

It's Friday, August 1st.

And this is the Playbook podcast.

For the second time this week, I have the pleasure of welcoming my fellow Midwesterner

and playbook editor,

Zach Stanton, to the podcast. Zach, welcome.

Great to be here as always, Adam.

And without further ado, here's what's driving the day.

First up, the day has finally come.

With the markets closed and the August 1st deadline having passed overnight,

President Donald Trump went through

his pledge to impose a wave of new tariffs, except that last night, he announced that in seven

days, he'll raise tariffs on more than 60 nations, including a number of those close U.S.

trading partners.

Zach, is this just another instance of the Taco Trump dynamic?

Trump always chickens out?

Yes and no.

Yeah, as you mentioned, Taco Trump is this idea popular in certain circles on Wall Street in

particular that when push comes to shove, Trump sees how negatively the markets react

to his tariff threats

...