Good evening. Once again, I am Stephanie Rule, and what a day we are having. You are here for the nightcap, and it is day 110 of the second Trump administration.

And this morning, the president said he would be open to cutting the 145% tariff on China down to 80%, which is a huge change from just two days earlier when he said he would not lower them ahead of any talks this weekend with Chinese officials.

It has been a very long week, starting with an AI-generated image of the president as Pope.

He called for 100% tariffs on movies produced in foreign lands.

Canada's prime minister making it abundantly clear, Canada is not for sale. And the president's reply,

never say never. There was the announcement of a trade deal with the UK that was more of a

concept than an actual deal. Meanwhile, Republicans push forward

with their mega budget bill that includes huge tax cuts. There is just one glaring problem.

They cannot quite figure out how to pay for any of it. And let us not forget the president

calling to reopen Alcatraz. All that happened in the last six days. With that,

let's bring in our nightcap.

It is an excellent one.

Pablo Torre, who has had a very busy week, ESPN analyst and host of the Meadowlark

media's Pablo Torre finds out podcast.

Ron Insana, CNBC senior analyst, Mary Harris, host and managing editor of Slate's Daily News

podcast.

What's next?

And Jelani Cobb, staff writer for the New Yorker.

And he has a very hard job. Dean of the Columbia Journalism School, an important and hard job.

Ron, you know I'm turning to you first.

Treasury Secretary Scott Bessent meeting with Chinese officials this weekend to talk about tariffs.

Before negotiations even got underway, the president is now saying they could drop down to 80%. To me,

...