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Hello and welcome to start your week from the bunker. I'm Jacob Jarvis. Before we begin, just a quick reminder that if you do enjoy what we do here at the bunker that you can support us on Patreon, if you search Bunker Patreon podcast or follow the link in the show notes, you'll find out how you can get episodes ad-free and early. Now, onto the show, joining me today is Guardian columnist Raff Baer. Good morning,

Ralph. Good morning. Raff, this week, the one thing I suppose we can predict, and I won't tell

you up in too many predictions, but let's hope it can't really be quite as crazy as last, can it?

That's a very reckless supposition with Donald Trump in the White House.

I mean, I think, yeah, it's relatively safe just because the financial markets going to the

brink of totally destroying the credibility of the American Treasury instruments and generating

a financial crisis, such as hasn't been seen

for even more than the generation, which was last week's story, probably not going to happen

again this week. But the volatility, both in finance and the politics of the Trump administration

is guaranteed.

What's going on with Tariff at the moment then?

And what does it seem like the tactic was?

Yeah, good use of the past tense there.

So where we are now, and this could obviously already be obsolete by the time people are listening to this podcast,

is so we're in the 90-day pause from the big Liberation Day tariff.

So we're a retreat back to a baseline.

That is still very high.

Remember, it's always very important things to emphasize that the US is still now a much

higher tariff country than it was a fortnight ago, even with the pores. And there is also

...