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00:00You've both said that you're not anti-tariff, so let's talk about Trump's record on that.
00:06We've seen over recent days share prices crashing, starting to come back again,
00:12still a lot of global uncertainty, but many Trump supporters are insisting that this won't impact
00:19normal, everyday working class people without a hefty share portfolio.
00:25Cenk, do you agree with this?
00:27There's no chance that's true.
00:29So here's what's going to happen.
00:31If you said to the American people, guys, we need to rebuild a manufacturing base here on
00:36semiconductors, on cars, and these targeted areas where we need to make sure that we're
00:41producing materials in America, especially if it touches national security, and you could
00:46maybe even put pharmaceuticals in that category.
00:48I think a lot of people would say, yeah, I'm willing to bear the short-term cost and the
00:52pain of it.
00:52But they understand that means car prices are going to go up a little bit.
00:57That means maybe chip prices are going to go up a little bit.
01:00But hey, we're going to build a base so it's worth the pain, right?
01:03But instead, here what we have is global indiscriminate tariffs on all the industries and on almost
01:09all countries.
01:10So in this case, is there going to be pain?
01:12There's going to be massive pain.
01:14The stock market going down is a big deal, and it creates other issues for pensions, for
01:21jobs, et cetera.
01:22But the bigger deal is not the stock market, it's the prices that are about to skyrocket.