4.2 • 4.3K Ratings
🗓️ 10 April 2025
⏱️ 35 minutes
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At the precise moment Donald Trump was “pausing” his tariffs policy, his own trade negotiator was trying to explain to Congress who knew what when. Did those around Trump have prior knowledge, and take the opportunity to invest? Or did he leave his own team in the dark?
Trump has tried to style his climb down as a win. But the soaring response of the stock markets suggest they think the tariffs trauma is now done. Has Trump boxed himself in? And will anyone believe him next time? Later, Trump’s revengeathon is alive and kicking. He’s now investigating two former officials for 'treason'. Because they dared criticise him and tell the truth about the 2020 election. And Lewis is in Scunthorpe ahead of that decision on British steel.
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0:00.0 | The Newsagents podcast is brought to you by HSBC UK, opening up a world of opportunity. |
0:08.1 | This is a global player original podcast. |
0:11.8 | What do you know about this pause? What are the details of it? |
0:15.4 | Well, the details, as I understand it, is that China continues to retaliate. |
0:20.2 | Other countries didn't retaliate. The president, |
0:22.7 | two or three days ago, said we wanted to negotiate with those countries that asked for meetings. |
0:27.4 | That's what we're doing. What are the details? How long is the pause? How many days? How many weeks? |
0:32.1 | I understand it's 90 days. I haven't spoken to the president since I've been in this year. |
0:35.5 | So the trade representative hasn't spoken to the president of the United States about a global reordering of trade. |
0:44.3 | Yes, I have. I've just been in the hearing with you. But yet he announced it on a tweet. |
0:49.5 | WTF. Who's in charge? Well, WTF, indeed. That was the moment that Donald Trump had announced on Twitter a total U-turn on his |
1:01.3 | tariff's policy, whilst his own trade representative was inside a select committee, seemingly |
1:08.2 | on the back foot about what was happening in the outside world. |
1:12.5 | Well, seemingly on the back foot or seemingly oblivious of what had happened, which tells you |
1:17.3 | everything you need to know about the chaotic decision making going on that Donald Trump was |
1:23.3 | suddenly prevailed upon to act in this way. It is a U-turn. He's folded, he's buckled, |
1:29.3 | he's caved, capitulated, surrendered, whatever words you want to use. But does this mean it's the |
1:34.8 | end of his tariff's policy? Because surely if he goes back to it, the markets will take fright |
1:41.1 | once again. Welcome to the newsagents. |
1:47.3 | The Newsagents. It's John. It's Emily. And wow. Yesterday we were talking about how the bond |
1:54.7 | markets could do to Donald Trump what they did to Liz Truss two or three years ago. And it all seemed distinctly plausible that |
2:02.6 | that could happen. Such was the scale of the revolt on the markets to US treasuries that Donald |
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