Welcome to the In Between. You're listening to Motley Full Money.

I'm Mary Long joined on this fine Monday morning by Mr. Asset. Good to see you. How you doing?

Well, Mary, happy Monday.

Happy Monday to you, too. We'll kick things off today by trying to clarify some stuff

because we got some alleged clarification yesterday on the state of tariffs.

The key word in that phrase is actually the word alleged rather than clarification

because we once again find ourselves

in a position where, well, there's new information, but nobody actually knows what comes next

or where we are. Howard Lutnik, the Commerce Secretary, said Sunday that smartphones and other

electronics will be included in future semiconductor sectoral tariffs. This came, though,

two days after the same administration

had said such products were exempt from the China tariffs. Trump said on truth social yesterday

that there was no tariff exception announced on Friday, rather that the products would be moving

to a different tariff bucket. Still, certain tech products are no longer exposed to the 145% reciprocal Chinese tariffs.

That's a lot of words, a lot of back-and-forth, Asset. With a caveat that all of this is subject

to change in the days ahead, the weeks ahead, what is the bottom line of all this back and forth?

What in all of this should long-term foolish investors actually be focusing on right now?

Mary, the bottom line here is that there is no bottom to these tariff buckets. I mean, this is so

difficult to follow, and it's only getting more complex as it goes along for what Lutnik said

about these exceptions.

Basically, I think the Commerce Secretary is just trying to take his smoke signals from

President Trump at this point and just be flexible enough to allow that any type of

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