Reciprocal tariffs off trade war with China. Very, very on.

We'll discuss all this more on this edition of the editors.

I'm Rich Lowry, and I'm joined, as always, by the Wright Honorable Charles C.W. Cook, the reporter, Audrey Falberg, and the Dominic Pino.

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anything. So Audrey, trade war is off and on. The reciprocal tariffs that were tanking the

market in a quite spectacular fashion are off for 90 days, but we have more tariffs on China.

I'm not good enough at mass to keep kind of add up the tariff rate, but the White House

helpfully provides the big overall number, which some people are calculating, I think, at 125. No, no, no, it's

145. And now China, I believe, is at 125. I don't know whether we'll go higher, but China said,

you know, continued tit-for-tat retaliation would be absurd. So what happened here? We had some folks initially out of the gate, Navarro,

Lutnik, this is not a negotiation. There's no way he's going to change on this. Others saying,

well, all these countries are showing up to negotiate. Besson and others were emphasizing that

message. Besson famously goes down to Florida to talk to Trump about this Sunday, you know,

points out that, hey, sir, the markets are tanking. They're particularly worried about what was

happening in the bond market. So how did you, how do you read this? Why did this happen?

Yeah, I think the big question is what happens next with the universal baseline tariff. I mean,

of course, there could be changes with

...