All right, so if we were already in unknown territory for President Trump's trade war,

you're ready to enter the economic equivalent of no man's land.

His newest round of tariffs take effect an hour from now at 1201, putting an eye watering 104% tax on all goods

from China. That means when Americans pay for many everyday purchases could soon double.

Now, that realization hit the markets today, completely evaporating what was a rally early in the

morning. You see that big drop until the afternoon?

That's because Trump's deadline for China to pull back its own tariffs on U.S. goods while they came and went.

And now investors are bracing for what's next.

This is an economic Armageddon that's coming for the U.S. consumer in the economy.

And I talk to tech executives, we're talking to around the world.

And when it comes to U.S. tech, I mean, I think this is something that could send the U.S. tech industry back a decade.

And I think recession is now starting to get baked into the market.

But the president?

Predictions of economic Armageddon aren't bothering him.

Even as China vows to fight to the end.

I really think we're helped a lot by the tariff situation that's going on, which is a good

situation, not a bad.

It's great.

It's going to be legendary.

You watch, legendary in a positive way, I have to say. They've ripped us off left and right.

But now it's our turn to do the ripping. That's okay. We're going to make our country even stronger,

stronger than it ever was. And he says that dozens of other nations are lining up to cut deals.

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