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But winning back time and growing your business, leave that to sum up. Take orders and payments anywhere with the new SumUp terminal. Turn occasional customers into regulars with a free loyalty program. And with the SumUp point of sale system, you'll always know when you're running low on your best selling blends. Visit sumup.com.com. To learn more. Hey, y'all. It's Tim Miller. Yesterday,

I had the pleasure of guest co-hosting the Raging Moderates podcast with my father figure,

Scott Galloway, Prof. G. And I am so jealous of their brand, Raging Moderates. It sounds good.

It was a great chat, wide-ranging. I wanted to show you a couple clips from it here. Then you can head on over to their YouTube if you want to see the full

video. Hope you enjoy. I know you will. I love Propgey. I love that guy. It's a great show.

Check it out. Let's move on to the tariffs here. All right. So back in Washington, Fed Reserve Chair, Jerome Powell, Chairman Powell warned that Trump's escalating trade war could drive the U.S. towards stagflation. It's probably a word you don't know because you're too young. We haven't had it since the 70s. I read about it in history. You read about it? Well, I mean, as a Reagan fan, you know, in high school Republicans, people talked about, you know, how he, how he ran against stagflation. So I'm familiar of it in that context.

So it's this toxic mix of rising prices and rising unemployment where basically interest rates go up and the economy slows down. And it's sort of stackflation is sort of a step or a bridge to a depression.

But on Thursday, Trump announced a new trade framework with the UK that lowers tariffs,

but only on luxury cars, including Rolls-Royce and Bentley. Well, thank God. Toys including Barbie.

And plane engines, I think, got thrown in there, too. Is that right? Rolls-Royce has given us

some playing engines, too.

Toys, including Barbie and Hot Wheels, will face a percent tariff. Then over the weekend, there was a surprise detour. The U.S. and China agreed to a 90-day truce, temporarily rolling back some of the steep tariffs that had been hammering both economies. By May 14th, the U.S. will slash its tariff on Chinese goods from 145 to 30%, while China will lower its own tariffs on American products from 125% to just 10%. The move helped calm global markets, but it's anyone guess if the pause will hold. They now have 90 days to make a deal. What do you think will come out of this? What's your, what's your impression of what's happened as of this morning, Tim? I mean, I think it's starters, for starters, like obviously Trump linked and had very serious concerns about the economy. I mean, if you just look at the broad contours of this, so a 30% tariff down in China is 20 percentage points higher than it was under buy it, right?

So it was at 10 and now it's up to 30.

And so we've added the 20 percent tax on consumers who consume Chinese goods in exchange for nothing.

Like in exchange for nothing.

I mean, the Chinese didn't even. There were some, I guess, promises around fentanyl or something, but, you know, they didn't, you know, in the past, you know, in the first Trump term, when they did the tariffs of China, there was also a deal where, like, they were buying our soybeans and, you know, there are other, I cannot, And maybe that'll come over the next 90 days I don't know but as of right now like we still have increased

you know we still put a 20% essentially sales tax increase on Americans like for for nothing just

just so that Donnie could like feel tough for a little bit. So how does it go from here?

I don't,

I mean,

I think that I'd be interested in your take on,

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