Navigating Market Uncertainty: The Impact of Trump's Tariff Changes

0:00This is an iHeart Podcast. Guaranteed human. Run a business and not thinking about podcasting? Think again. More Americans listen to podcasts than ad-supported streaming music from Spotify and Pandora. And as the number one podcaster, iHeart's twice as large as the next two combined. Learn how podcasting can help your business. Call 844-844-iHeart. Hey, it's Joel. And Matt. From HowToMoney. If your New Year's resolution is to finally get your finances in shape, we've got your back. Prices, they're still high. And the economy is all over the place. But 2026 is the year for you to get intentional and make real progress.

0:35That's right. Each week we break down what's happening with your money, the most important issues to focus on, and the small moves that make a big difference. Kick off the year with confidence. Listen to How to Money on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. What if mind control is real? If you could control the behavior of anybody around you, what kind of life would you have? Can you hypnotically persuade someone to buy a car? When you look at your car, you're going to become overwhelmed with such good feelings. Can you hypnotize someone into sleeping with you?

1:05I gave her some suggestions to be sexually aroused. Can you get someone to join your cult? NLP was used on me to access my subconscious. Mind Games, a new podcast exploring NLP, a.k.a. neurolinguistic programming. Is it a self-help miracle, a shady hypnosis scam, or both? Listen to Mind Games on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. This episode is brought to you by PNC Bank. A lot of people think podcasts about work are boring. And sure, they definitely can be. But understanding a professional's routine shows us how they achieve their success little by little, day after day.

1:47It's like banking with PNC Bank. It might seem boring to save, plan, and make calculated decisions with your bank. But keeping your money boring is what helps you live a more happily fulfilled life. PNC Bank, brilliantly boring since 1865. Brilliantly boring since 1865 is a service mark of the PNC Financial Service Group, Inc. PNC Bank, National Association, member FDIC. Earners, what's up? You ever walk into a small business and everything just works? Like the checkout is fast, the receipts are digital. tipping is a breeze and you're out the door before the line even builds odds are they're using square we love supporting businesses that run on square because it just feels seamless whether it's a local coffee shop a vendor at a pop-up market or even one of our merch partners square makes it easy for them to take payments manage inventory and run their business with confidence all from one simple system if you're a business owner or even just thinking about launching something soon Square is hands down one of the best tools out there to help you start, run, and grow.

2:56It's not just about payments. It's about giving you time back so you can focus on what matters most. Ready to see how Square can transform your business? Visit square.com backslash go backslash E-Y-L to learn more. That's square.com backslash go backslash E-Y-L. Don't wait. Don't hesitate. Let Square handle the back end so you can keep pushing your vision forward. All right, let's get to it. So we're going to talk about, let's talk about NVIDIA. NVIDIA committed 500. Well, before we talk about NVIDIA, let's talk about the Trump tariffs again. So over the weekend, they said that they were going to give an exemption for smartphones and computer chips.

3:45And that was very welcomed by the technology sector. It's at 90 days. And then yesterday they came out and said that it'll be a special tariff for semiconductors, that this is only temporary, pretty much dampened the whole party. so the market as a result it wasn't as bullish today as people thought it might have been if they didn't make that announcement so okay for the investors that's wondering how come they didn't wait to make this announcement how come they didn't make the first announcement on Monday and at least give people an opportunity to exit some positions and then maybe rain on the parade on Wednesday I mean, he's given all of his friends, allegedly, inside what to buy.

4:44Shout out to all the congresspeople and politicians who bought calls on Apple and NVIDIA as a result. Friday afternoon. This is a better question for you since you go run for office in the next one. Why do you think he keeps changing course so quickly? like i'm i had to go to chat gbt claude i went on madness like what's the reason behind all of this chaos and i'm not piling on trump's episode but i don't understand why you put out positive news and then the next day damper it yeah i'm not sure i don't think anybody really knows i think it's a a very erratic behavior and um it's frustrating to like market insiders and hedge fund managers and stuff like that because it's like you know dan i was extremely happy when they had that announcement then he said it's like um playing golf and they moving the the the t in the ninth in the ninth um or the 18th green so it's just it's very complicated and it's difficult because it's like you know we don't know but we spoke to an executive at a car company during all-star week and this is before the tariffs thing came out and he said that it's extremely difficult to do business because we don't we don't know the rules so you can you can once you know the rules and you can play the game but when the rules keep changing that becomes extremely difficult to to play the game so you know when you say that there's a pause on tariffs for electronics, smartphones, and chips.

6:20And that's encouraging news for technology. But then when you come out two days later and say that there's going to be a special tariff just for chips, well, that's discouraging news. So within a 48-hour cycle, it's going in so many different directions. And it's up and down. That's why it's a very choppy, very, very choppy market right now. That's why a lot of people just wait on the sidelines because they don't know exactly what to expect. And we all know that the stock market's going to recover over the course of time. But if we do go into a recession, then you could see another 20 % dip in the market.

6:57So it's very erratic behavior. I think that he's trying to figure it out on the fly. Because especially, we haven't talked about the 10-year treasury, but that's something that was extremely alarming to them. That's what they said. That actually made him change his mind more than anything. Not only the stock market, but the treasury. and when people stop believing in America and stop holding American bonds, Japan, that's concerning. That's concerning for sure. So I think he's trying to balance so much. You see the dollar drop to its lowest level since 2022, I think. People are dumping treasury bonds, the stock market is crashing.

7:34Then you've got world leaders calling you, I'm sure, left and right. So imagine just being in a room with 10 ,000 things happening simultaneously and it's just like, okay, damn, I got to do this. Okay, let's reverse course. Okay, let's do this. Let's do this. Let's do that. And it's not like something that I think is already thought out. I think it's in game. I think he's doing the Peyton Manning like Omaha. He's calling audibles on the fly. Yeah, I think this is the epitome of building a plane while flying it. Right? Like we're not sure what we're doing, but we're going to try to piece this together as we go.

8:07We're going to make an announcement and then we'll try to figure it out after we do it. And it's like last week when it was, well, the 3rd of April when the tariffs were going into effect. And then we saw how the market reacted to it. And then there was a leak that the tariffs were suspended last Monday. And, oh, it was a leak. That's not true. And then by Wednesday, it actually was true, right? And then Saturday, it's, hey, we're going to suspend tariffs on semiconductors, computers, and technology. Pretty much technology stocks were hopeful. Like, this is great. And then by Sunday, that changes.

8:41and who knows what happens tomorrow, right? We really don't have a clue of what's happening. From a business standpoint, it's tough because number one, you don't know how much you're gonna pay and then you don't know how much you're gonna make. And so you don't really know what to tell your shareholders and you don't know what your revenue is gonna be, right? And so the thing that doesn't change for you is the debt. For sure. Right, that's the thing that you know for sure is gonna happen, right? Like if you're having cap expenditures and there's debt that's accumulating, that's not going anywhere.

9:14How much you're bringing in, how much you're going to pay for that, that is uncertain. So, I mean, the uncertainty in itself is extreme. The recession piece, it almost feels like we were headed for a soft landing. I know it was like never going to be a soft landing, but we were headed there. We were headed there. And now we got the self-inflicted wound. and now it almost feels like recession might be the safest thing. If you hear what Ray Dalio saying, the two negative quarters, by definition, that might be the safest play because we've seen that before and we've seen how we've recovered from that before.

9:51It could be shortened, maybe it's extended, but we've seen that before. He's saying that potentially there's something worse ahead which is a new economic world order, which is kind of what we've been alluding to in a smaller sense where it's like the the rising power challenging the emerging power or the existing power, and we kind of know who plays in those roles, versus the value of money, versus internal conflict, versus international conflict, all happening at the same time, which is dangerous. Incredibly. And for my traders, how Trump is changing his plan day to day, that's how a lot of you are trading right now.

10:32Now, please know what your targets are going in to this market, regardless of what he does. So I've always stressed you need one short target to be able to get cash flow, one long target to help change your life. Second thing I do want to stress, despite how much volatility we have in the market given because of leadership, it's going to be one of the greatest bond opportunities of this decade. I do not want you to forget that point. I felt like this in 2015. It felt like this during Brexit. It felt like the pain was never going to stop. But even in a recession, on average, it lasts 17 to 19 months.

11:11For those of you who are locked in, if you can buy and hold long term in three or four years, you are going to be elated. We'll talk about it later. There are some companies that are dominating. Netflix, one of them. Netflix has moved up my respect level a lot. Visa is what most financial services companies should be there's still quality out here despite the bs that's going on with his decision making so yeah quality i mean business is still happening especially when we kind of leveled it but you see the amount of money that's being allocated toward ai development even in the midst of all this right it's the reason why they all met with him and they continue to meet with him is yes part of it is his thought is we've been unfairly treated when it comes to tariffs but the other part of it is onshore manufacturing and based on a lot of what the especially the max 7 they're making a commitment to make sure that at least some of the manufacturing uh is on shore is it too late for a company like apple that's going to be tough for a company like uh uh nvidia not as not too late um because they've already if you looked at the manufacturing i know that and you kind of alluded to it to start the show but that that 500 billion over the course of four years obviously that makes it 125 billion um per year toward data set of development that manufacturing is going to start producing its newer products so hopper is still being produced in Taiwan and maybe some of Blackwell.

12:53But at this point going forward, and we've seen the rollout till 2027, Blackwell, Rubin, and I forget the name of the 2027 product. Those will, majority of those will probably be manufactured here based on this announcement that they had today. An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS-13 gang member from El Salvador accused of murdering a Texas man. A Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Kristi Noem, the United States Secretary of Homeland Security.

13:34Under President Trump, attempted illegal border crossings are at the lowest levels ever recorded. And over 100 ,000 illegal aliens have been arrested. If you are here illegally, you're next. You will be fined nearly$1 ,000 a day, imprisoned and deported. You will never return. But if you register using our CBP Home app and leave now, you could be allowed to return legally. Do what's right. Leave now. Under President Trump, America's laws, border, and families will be protected. Sponsored by the United States Department of Homeland Security. Hey, it's Joel. And Matt. From HowToMoney. If your New Year's resolution is to finally get your finances in shape, We've got your back.

14:17Prices, they're still high, and the economy is all over the place. But 2026 is the year for you to get intentional and make real progress. That's right. Each week, we break down what's happening with your money, the most important issues to focus on, and the small moves that make a big difference. Kick off the year with confidence, listen to How to Money on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. What if mind control is real? If you could control the behavior of anybody around you, what kind of life would you have? Can you hypnotically persuade someone to buy a car?

14:49When you look at your car, you're going to become overwhelmed with such good feelings. Can you hypnotize someone into sleeping with you? I gave her some suggestions to be sexually aroused. Can you get someone to join your cult? NLP was used on me to access my subconscious. Mind Games, a new podcast exploring NLP, a.k.a. neurolinguistic programming. Is it a self-help miracle, a shady hypnosis scam, or both? Listen to Mind Games on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. You know, we always say new year, new me, but real change starts on the inside. It starts with giving your mind and your spirit the same attention you give your goals.

15:30Hey, everybody. It's Michelle Williams, host of Checking In on the Black Effect Podcast Network. And on my podcast, we talk mental health, healing, growth, and everything you need to step into your next season, whole and empowered. New year, real you. Listen to Checking In with Michelle Williams from the Black Effect Podcast Network on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. This is an iHeart Podcast. Guaranteed human.