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Belle of the Ranch

Let's talk about Trump’s Trade Tantrum Two....

Belle of the Ranch

Belle of the Ranch

Society & Culture

4.91K Ratings

🗓️ 2 August 2025

⏱️ 4 minutes

🧾️ Download transcript

Summary

Let's talk about Trump’s Trade Tantrum Two....

Transcript

Click on a timestamp to play from that location

0:00.0

Well, howdy there, Internet people, it's Bell again.

0:05.0

So today, we're going to talk about Trump's trade tantrum, too.

0:11.0

After a very unremarkable start to his trade war, Trump has decided to reignite economic uncertainty.

0:18.0

To get a general vibe from the news, senior research strategist at Pepperstone

0:23.9

Brokridge, Michael Brown, said, quote, quite apart from the 90 deals in 90 days that the admin had sought.

0:32.8

What we have actually ended up with is eight deals in 120 days. The details of most remaining fuzzy. That's called

0:40.8

winning, apparently. That really sums up the feeling for most financial types as Trump decided to

0:48.0

double down on this mess. Trump promised massive tariffs to force trade deals. Then he started counting like a mom.

0:56.6

One, two, two and a quarter.

1:00.0

Yesterday, as the deadline ran out and most countries in the world didn't play Trump's game,

1:05.6

he announced more tariff games and reached two and a half, giving the countries another week. The rates are the

1:13.9

highest effective U.S. tariff rate since Smoot-Hawley. Yes, the thing discussed on Ferris Bueller's Day Off

1:21.2

in context of the Great Depression. Jim Reed of Deutsche Bank said, quote,

1:36.0

Welcome to August, which begins with the deadline now having been passed for tariff deals to be concluded with the United States.

1:44.0

Much of the rhetoric and the negotiation are now behind us, and we'll now see how the rubber hits the road.

1:51.7

The U.S. tariff rate has risen to about 15%, from a little over 2% at the start of the year.

1:55.9

That's their highest level since the 1930s.

2:04.9

The new rates for countries range from 10 to 41%. The newly announced rates hit more than 90 countries.

2:13.0

Trump up the tariff on Canadian goods to 35%. Karni seemed undeterred and said, quote,

2:19.8

Canadians will be our own best customer, creating more well-paying careers at home,

2:24.8

as we strengthen and diversify our trading partnerships throughout the world.

2:31.6

Carolyn Parrish, who is mayor of the Canadian city of Mississauga, said, quote,

...

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