We are approximately 10 days away from the baseline and reciprocal trade tariffs taking place on August 1, 2025. The U.S. economy is strengthening; inflation is not a factor, and the existing tariffs are bringing in a tremendous amount of revenue.
The most difficult trade deal to make is with the European Union as Secretary Bessent notes. It is unlikely that any trade agreement with the EU will be reached because the EU has all the benefits and no desire to lose their status (ie. Marshal Plan).
.
Lol, you mean the EU’s socialist globalist leftist policies won’t be able to survive without the US paying for it? How sad.
Well if the EU doesn’t want to negotiate their coming new position, they can have whatever “deal” PDJT gives them.
It’ll be another demonstration of FAFO.
exactly
in the absence of a negotiated agreement, the eu can expect a default judgement to be rendered since Trump wields the hammer
… snd as my Cajun Friend says, ” … an’ dat dere, be’s a MIGHTY BEEG HAMMAH!!!”
So, we’re going to hammer the EU with tariffs at the same time we pay $$$ to station 128,000 U.S. troops and aircraft in Europe while we send billions $$$ to Ukraine???
Why not avoid the middle-man, take our soldiers out of Europe and stop giving money $$$ to Ukraine. We’d have immediate $$$ savings, no grief, no trade war, no tariffs and Europe can do whatever they want to defend Ukraine and themselves?
President Trump should hire me to assist Secretary Bessent. I’ll work for free! 🫡
one man’s overseas military base is another man’s intelligence gathering satellite – wink, wink, nudge, nudge – say no more!
Ah, a little Monty Python’s Flying Circus reference, eh?
The recpirical tarrifs are not cogent to the military spending. The two are othogonal. However from my perspective it appears that Trump is trying to end the war in Ukraine and redirect NATO to a useful non globalist direction, and rekindle real economic relations with Russia.
PDJT said if no one reaches a deal, then I will set the terms. Suck on that EU
Actually, it’s each individual country’s Parliament in the EU that has to agree with any trade agreement. Good luck with that!
Carney meeting with that group of US senators sounds about the same. A loser move.
“Only 2 things scare me and one is nuclear war.”
Nice Austin Powers reference….
Watch out for the Carnies…
That interviewer sure likes to hear himself talk. He seems to have Hannitus Interuptus Syndrome.
No. I’ve always liked Joe Kernan
Hannititus.
The Marshall Plan was scheduled to be discontinued in the late 1950’s, and there is absolutely no good reason why it was not. Europe obviously did need “a leg up” after the devastation of War, but only for a finite period of time. Apparently they’ve been sponging off of it for more than 60 years since!
There’s an irony in that Marshall plan was intended to support Europe’s economic recovery in the postwar period and to limit the ability of the Soviet Union to make inroads by exploiting those conditions to foment more communist revolutions.
History is said to happen first as tragedy and the second time as farce. And so, we essentially have Europe ruled by one set of bureaucrats in Brussels much like how a certain German dictator dreamed of and imitating the USSR to boot.
Once the pigs get used to the slop, those providing it have no incentive to make it stop without losing power and prestige. See NATO after the fall of the Soviet Union as a shining example.
You would think that after 80 years of our largesse, that they would have the class to say, “Thank you for being so generous with us for all these years. We understand why you need to make this change now, and we hope to work with you in achieving your goals. Thanks again”.
No, they couldn’t possibly demonstrate such class. Tacky effete snobs.
Was not NATO constructed to expire on a similar timeframe – that is, before its members discovered Sugar Daddy’s wallet.
Nobody is ever happy to have their welfare stopped.
“…there is absolutely no good reason why it was not [discontinued].”
I’d expect a close examination would show our elected “representatives” found million$ of personal reasons it should continue.
Ditto Israel. They’ve been a country now for 75 years and we are still giving them money.
We benefit more from Israel than “money” given to them.
I’m reminded of the fact that the Fed chairman cannot be fired without cause. So… they found cause and referred it to the DOJ. I don’t see the problem.
I’m reminded of the deal Trump offered openly to “self deport.” The short is “we’ll give you money to leave and later on you can file to come back legally! But if you wait to be removed by us? Well, you won’t be allowed to come back legally.” Powell says “it’s illegal to fire me!” Trump says “what if we find you’re doing something illegal?”
We need to end the Marshall Plan totally. It is way past time. MAGA
Why is it that no one in the administration, particularly Trump himself, frame this in terms of the Marshall Plan ??? If he (or they) would give a brief history lesson on the matter, the public at large would much better understand the entire tariff controversy.
I googled the topic and came up with little. Why not have VDH lead an educational mission, to support President Trump and DOGE cuts?
You are 100% correct PC. All the replies on the first 5 pages of a Google search on the Marshall Plan are lies. Everyone of them does not mention tariffs of any kind and they all say it ended in the 1950’s. This is Google helping out their lying democrat buddies.
I gave up after 5 pages.
The Marshall Plan ended. 2018 Congressional Report:
https://www.congress.gov/crs-product/R45079
Sorry Tam, but I can’t believe anything coming from a .GOV website. I definitely am not going to read 33 pages of their lies.
You never read .gov website content? All Laws and orders, both federal and states, are on .gov websites. But, yes, our enslavement runs deep, very deep. Truth is stranger than fiction. One foot on the land and one in the sea night break the spell. Parse, syntax, grammer. See Russell Jay: Gould
United States means a Federal Corporation
(28 U.S.C. section 3002 (15)(a)
Dated 2018 probably the work of President Trump.
Wow. It’s one if those topics I Google, nothing makes sense, and work or more fruitful digging gains priority.
Maybe I should check DuckDuckGo?
A portion of the imbalance is attributed to ourselves. Euros won’t buy $70,000 trucks or vehicles which get 15 MPG.
Never use Google!
I was just about to say the same thing…it’s not good enough to say they are ripping us off .. give the people a short history lesson!
EXACTLY !!!
How & WHY make all the damn difference !
Inflation is still a problem. Inflation is NOT “stable” pricing. The Fed has NEVER reached its mandate.
The Fed’s public mandate was nothing more than a hollow pledge.
The Creature from Jekyll Island was never designed to serve the interests of the American People so much as the privileged few that would control the flows of money.
It’s the bankers. My brother was a CFO. He worked his way up and he made “bank”, while the average Joe suffered greatly. It wasn’t just the bank he worked for but banks in general. They game thr poorest and the working “man”. He called it 30+ years ago, when banks stilled paid interest on small accounts. “Someday in the future you’ll pay the banks to hold your money.” As brick and mortar branches disappear and debit cards are easier, there’s a fee for everything!
The fed is a cabal, unconstitutional and all they do is cause inflation. They have no idea what the heck their doing. I’m old enough to remember when mortgage rates were well into the teens under Volcker. I thought getting a 9% 30 year fixed was great. My father who bought his first house in the late forties paid somewhere in the high 4’s, in the mid-sixties 5 1/2% for his 2nd house. People are squawking about 6-7%? The 2-3% mortgages were ridiculous, historically I don’t believe they were ever that low. If it takes that low of a mortgage rate to sustain housing, then the prices are astronomically too high.
They know EXACTLY what they’re doing… controlling the USA economy and sheeple like a dog on a leash….AUDIT THE FED
End the fed!
Then END it!!!
Prices have definitely inflated but the biggest kick in the gazots is that wages have stagnated for 6 decades.
35 – 50 million illegal immigrants play a huge role there.
POTUS should have a blue ribbon committee come up with a new official number, not the LAUGHABLE 12 million number the Feds have used for decades.
The Ivy League, including Yale, did a study 7, 8 years ago, and their midrange guess was 22 million (double).
I’ve heard 50 million now.
The Old Days of Savings & Loan: You’d get laughed out without 25% down and a good solid job. They loaned out at 4% and paid 3% on deposits. Then the politicians got involved.
President needs to get oil down to $50 and there are many countries that are working against lower oil prices.
The easiest way to get oil prices up is to start firing missiles at other countries. They seem to have that strategy down to a science!
Appears all the EU “elites” running the
circus …especially Ursula Fond of Lying
are good at are giving speeches, setting
up grandiose gatherings, creating slush
funds….and spending money. 🤷♀️
EU, the bill for makeup and hair in 2023 is close to 2 million: this is how Brussels takes care of the image of its Commissioners – FIRSTonline
The problem with the eu, is that it’s gotten used to being supported by American taxpayers. Being responsible for it’s own economy, without the US umbilical cord is frightening to the eu.
My heart bleeds.
Ditto!
Tariffs and NATO.
I can’t believe POTUS bought this line that the EU will spend 5% of defense in 2030!!?? Who spiked his Diet Coke?
Yup. Promises are cheap.
Exactly! We have to negotiate with the EU in order to make them be able to defend themselves. Why do I think this is insane?
This was a very interesting interview – the potential is just huge, and success seems so very likely to me. Given President Trump’s gift for seeing what eludes others, there is no telling what tremendous growth and prosperity will allow him to do.
WHAT WILL OUR BASELINE TARIFF W the EU be if we have no trade deals in place?
10%? 30%??
It seems the number keeps changing.
U don’t get what you deserve, u get what u negotiate
Maybe the Trump team makes 27 separate deals?
30%
That’s a good start.
IOW, tell the eu to ram it. Close our market to all of their stuff, total block. See how long it takes before they cry uncle.
Just like Cuba
https://redstate.com/jenniferoo/2025/07/21/scott-bessent-says-its-time-to-review-the-federal-reserve-i-dont-know-what-they-do-n2191903
FTA “Here is what a treasury secretary is supposed to do: work to demystify what is being done with Americans’ money, answer why Wall Street and the Fed do what they do, and why it should matter to us. If anything remains a financial mystery, it’s what happens at the Federal Reserve. Does Fed Chairman Jerome Powell and his over 2,300 staffers use spreadsheets, market trends, an abacus, or tea leaves to set rates? Because from the financial novice or illiterate (raising my hand), their decisions come off as arbitrary, political, or both.
If the past four years are any indication, they have not. Under the Biden administration, the Federal Reserve worked to deny that inflation was happening at all, then that it wasn’t really harming American capital and productivity. Under the Trump administration, the Federal Reserve is now demonizing the gains made through tariffs and lowered inflation while actively working to stall the progress of the administration policies. So, if a successful businessman and financial mind like Bessent holds the same viewpoint as Joe and Jill American, then it helps us to see that we are not as dumb as the prior administration thought we were.
If Bessent has his way, I suspect that some of those PhDs will be looking for a new grift. Bessent is anything if not thorough in his work. So, expect some DOGE-level analysis to happen with the Federal Reserve and exposure on the agency’s usefulness—or lack thereof. We could see the elimination of the Fed in our lifetime. We know that Sen. Rand Paul (R-KY) would be fully on board, and so would every American who wants the voodoo economics surrounding their finances and tax dollars to come to an end….Wow. If Bessent is unclear, imagine how the rest of us feel.”
End the Fed!!! If Bessent doesn’t understand what the Fed really accomplishes I never will!!! Get rid of it!!! JMO
I think you underestimate the Secretary skill sets
As POTUS Trump has graciously conceded many times, “He does not blame the EU and others for feasting at our trough. He holds OUR elected officials to blame for allowing this to continue and continue. NO MORE!
The problem with socialism is that you eventually run out of other people’s money
Maggie was 100% right!!!
No more Marshal Plan….
Poof…no more advantage….
ps…
NO MERCY!
We subsided their lavish social spending, including a base SIX WEEKS PAID VACATION, every year, plus we defend them.
Most Americans could only dream of a weeks paid vacation unless they work in government. Gov employees get numerous paid holidays along with banks!
Bessentt is a real true blue MAGA phile…Gonna bich-slap the FED, tell Pocahontas to pound sand, get Crypto as a real alternative currency, and make America wealthy again…. yeaaaaaaaaaa
Cabinet stacked with WINNERS who do nothing but WIN.
Not tired yet.
The Marshall plan should have been shut down when the EU was formed to take economic aim at America. But I guess Clinton was too busy staining dresses to worry about America’s future economic well being.
President Trump would have to collect a 100% tariff to cover our expenses protecting Europe not to mention what we spend on Ukraine! Per Gemini AI…
“Replacement Cost for Europe: A recent report by the International Institute for Strategic Studies (IISS) in May 2025 estimated that directly replacing the US military contribution in Europe, including 128,000 troops, would amount to $1 trillion over 25 years. This includes one-off procurement costs ranging from $226 billion to $344 billion, and additional expenses for maintenance, personnel, and support.”
President Trump hasn’t trimmed military so far, we need reductions there, including more 4-star Generals and Admurals.
The real EU on the right…
EU has all the benefits and no desire to lose their status (ie. Marshal Plan).
Honestly, I think Trump should quit badgering our European friends. Let ’em live their lives happy without us.
Pull 100% of our military assets and bases. Pull 100% of all and any support (including the U.N.). Bye bye Ukraine. Just level 100% tariff’s on E.U.’s goods, close our trade door, say good bye, and let ’em figure out how to solve their own problems.
Short sighted, I’m sure. However, the Obama/Biden Dems and E.U. socialists have left me feelin’ uncharitable.
Start by pulling 30% immediately.
But I really like Italian wine. 😋
My God those CNBC people all look absolutely miserable. Are they always like this? I wouldn’t know because I don’t watch that garbage. In fact, I rarely even watch these clips of the MSM anymore and have never seen those people before.
Please do not use God’s name in vain!
Thank you!
We need Him now more than ever!
Since when is saying”my God” taking his name in vein? I have never heard that before.
I’m so impressed by this guy. And he’s funny – UBI quip
The Janet Yellen comeback about beer and mushrooms was incredible too.
To bad he plays for the wrong team though IYKWIM
F the EU and let’s get out of NATO at the same.
I agree, but the problem with that is the EU would be welcoming its Russian overlords in a week. I’m not so sure they aren’t calling the shots anyway. Socialism and Communism are two travelers on the same train.
The EU and Canada are just going to endure the pain for 3 years knowing whoever replaces Trump — either party — will end the tariffs and return everything to pre Trump terms. That’s very frustrating.
I’m sure that they are planning with that in mind, but…what if it doesn’t happen?
How much embalmer fluid did he drink? Riga mortis is setting in. Stiff, rigid and inflexibly set on bringing america back to what? That act ain’t leading us anywhere mate.
After the chinese kicked the hubris ridden American exceptionalist and tariff czar Bessent in the butt, he restored their access to some nvdia chips and insanely went off the rails on a tangental tirade against the federal reserve. That’s what happens when eggheads go splat. Musk was right to call him and navarro out, They are intellectuals and don’t know sh’t. Trump should have brought martin armstrong in to give bessant and navarro a reality check…
What I don’t understand is the court that tried to stop the tariffs (can’t remember the name), they were stayed until July 31st, if the stay is lifted, no one has to pay a tariff. Was it stayed exactly for the August 1rst tariffs and if so will we have to wait for SCOTUS to come back into session?
If there is to be a nuclear war, please drop the bomb directly on my head. I don’t want to live in the aftermath.
What the hell does Elizabeth Warren’s guess about a hypothetical event have anything to do with economic policy?
That guy Sorkin fancies himself an intellectual . I think he’s a dimwit.
Love Sec. Bessent. Spine of steel, smart as hell, a real blessing for America.