HOLY F**K | Trump's Full Liberation Day Summary

Americans it is officially liquidation

day that's right not Liberation day but

liquidation day we have just seen the

largest scale of tariffs since World War

II The Nay is crashing 2.2% that's

actually a lot for them you've got

Bitcoin rotating straight down from its

enthusiasm now sitting at about 85 which

is kind of roughly where it started but

it did run almost up to 89k there under

some enthusiasm because Trump kind of

took a while to get to the punchline and

I want to save you the effort because

boy oh boy the punchline is this good

old chart right here this chart is the

punchline the idea is that Mr lutnick

has taken the last 30 days and he's

actually sat down to put together his

list of the dirty 60 they have a list of

about 60 different countries that they

want to specifically tariff every single

country in the world you know we got

like what 192 of them or whatever 10%

tariff Baseline we start a 10% no

negotiations okay well this is a game

Cher first of all because I want you to

remember where we started when you

actually weigh the tariffs by percent of

goods that are traded on those tariffs

and you weigh those tariff rates I want

you to understand what we're starting

with this is what we're starting with

and this is from the World

Bank Hong Kong no tariffs Singapore no

tariffs a lot of people call it

Singapore Inc Germany 1.3% France 1.3%

Italy 13 Canada 14 United States

1.5% okay Donald Trump's proposals now

to put a 10% floor on everyone is

greater than every single other actual

trade dollar weighted tariff that

exists Trump's proposal goes as high as

over 30% for some countries and that's

because lutnick has sat down and decided

you know what we're going to do is we're

going to bundle together every possible

thing that we could say bad about

another country such as oh well other

countries manipulate their currencies or

they use child labor or anything

basically that makes them different

emission standards whatever anything

that makes them different we will

consider that a tax on American Products

which I get the argument you know if

other countries are legally using

children and we're not that's bull crap

get it but understand what you're toying

with here for a moment you are toying

with a US economy which relies about

133% on it's GDP from trade in other

words 133% of our GDP comes directly

from Imports okay when you compare back

to the Great Depression we only relied

on Imports for about 3.9% of our damn

trade so now all of a sudden we are

imposing on that I think the next step

is that country all of a sudden we are

imposing some of the greatest tariffs

that we have ever seen suggesting even

that smooth Holly didn't go far enough

we are imposing some of the greatest

regime changing tariffs ever this is way

worse than people expected mind you

we're imposing some of the greatest

regime changing tariffs ever at a time

would we're actually more reliant on

Imports than we had been in history now

Donald Trump says but other countries

aren't being fair to us they they allow

us to import you know one quart of milk

this was his line oh they let us import

one quart of milk at a very very low

tariff rate and then they charge us 200%

on other milk okay this is a reference

to Canada and it's total fugazy and this

is the problem like you have to sit here

for 5 hours and break down all the stuff

he just said and tell you what's true

and what's false and look I'll I'll tell

you what he's right when he says for

example we're doing a great job at the

border hats off he's kicking ass at the

border illegal migrants C caught

crossing the US Mexico border are now at

the lowest level ever recorded per

Reuters with data going back to when

they started the series in 2000 Donald

Trump is kicking butt over there but

this idea that you know Canadians are

paying 200% on American milk is bull

crap how do we know that well because we

could look at the data on the milk that

we've sent the $1.1 billion of dairy

that we have sent to Canada which is up

55% from covid levels 2020 by the way

zero zero was subject to a triple digit

tariff they have some of these outlining

quotas so that we just don't dump an

infinite amount of milk in their economy

and then Crush their own Dairy Farmers

okay they're cold half the year they

need the help give him a break now look

I'm a free trade buff I think we should

have free trade and I will make a bet

that I guarantee we will return to free

trade by the end of the decade I suspect

within the first 6 months of 2029

assuming Donald Trump actually leaves

office in January 2029 because the next

Administration will push us back to free

trade Donald Trump I hope he will but I

don't know if he will but this idea of

kind tariffs this is the greatest fugazi

I've ever heard in my life these are not

kind tariffs these are the worst tariffs

that have ever existed

I don't actually think they're going to

stick I think this is designed to create

absolute panic because that's exactly

what this is doing now these tariffs

don't actually go into effect

immediately Donald Trump knows this this

is part of Donald Trump's art of the

deal Chaos Theory whatever the hell you

want to call it you you can't predict

what he does and that's the point nobody

went into today expecting their let me

show you the chart and and kind tariffs

to be 30 something per tariffs on China

nobody expected that to happen now we

have to understand when some of these

tariffs are actually going to go into

effect uh so let's take a look at this

so uh in terms of when these tariffs

will go into effect Baseline Tariff of

10% will go into effect April 5 at 12:01

a.m. so April 5 12:01 a.m. that's when

these tariffs go into effect that would

be let's see Thursday Friday that's

Saturday Saturday Sunday morning is

somewhere around there uh reciprocal

tariffs won't go into effect until April

9th at 12:01 a.m. so you have about a

week to to panic and figure out all the

details of this tariffs on uh

Pharmaceuticals semiconductors and

critical minerals were not mentioned yet

that's because they're still coming all

of this Authority is being imposed under

the uh International emergency economic

Powers Act that's going to be the basis

for lawsuits Donald Trump calls these

kind reciprocal tariffs I call them the

RW I'm sorry I really Tred to best to be

in the middle these are stupid these are

economy crushing tariffs and they are

not kind they are very very aggressive

now again if if he's able to use this as

a negotiation over the next week

fantastic you'll notice that Mexico is

actually not on this list which is very

interesting no Mexico on here no Canada

on here USMC compliant components are

being excluded from this uh and then

Donald Trump mentioned that certain

corporations and companies have

exclusions as well he specifically by

name mentioned companies not including

Tesla but he mentioned companies like

Facebook for having promised $500

billion of investments in into America

over the next few years now that's very

interesting because we have not heard

that announcement from meta we've heard

$65 billion from meta we have not heard

$500 billion but then again the game all

of these companies are playing is

they're simply taking their cash flow or

the R&D budgets that they would be

spending anyway they're rebranding it as

an investment into America which a lot

of they would be investing anyway and

then they're going to Trump and saying

look over the next 10 years we're going

to do XYZ Donald Trump talks about how

wonderful it is that Taiwan

semiconductor is building a factory in

uh Arizona but totally neglects to

mention that the chips act helped bring

them here with subsidized manufacturing

grants to actually get a chip plant to

function in America because what's the

reality is anybody who actually starts a

factory in America is going to get

absolutely creamed when we go back to

free trade and that's why a lot of these

companies that are promising these

massive hundred billion doll Investments

or whatever they're probably not

actually going to make those Investments

any time soon because they're just going

to wait and see how quickly we return to

free trade and then they can end up

going to announce these factories in

Mexico or wherever they want I

personally see in the future not too

long future I think Optimus robots will

probably be manufactured in Mexico

because you raise the standard of living

in the in America by providing Optimus

robots and you raise the standard of

living by Manufacturing robotss in

Mexico where you can raise the uh uh

minimum wage from you know three bucks

or whatever they earn over there to

maybe $350 to $4 an hour which is a boon

to their economy and it's a boon to our

economy because we get deflationary

robots helping us do what we want to do

that's the way a global economy works

now all of a sudden that is considered

though globalist and fake news and evil

well that's fugazi okay this is

obviously an economic point that I very

much disagree with Donald Trump on and I

think he's lighting a fire uh with with

with quite frankly a level of a shock to

the economy that shouldn't be lit right

now like if we just if we just went easy

right now and we got our free trade

within the next month maybe we could

still pull off a soft landing and we

don't go into recession in which case

please I want to go back to buy the dip

Kevin and being bullish but anyway Apple

got mentions here open AI got mentions

here Nvidia got mentions here tsmc meta

Honda honde got mentions even Thailand

that was his phrase okay I'm making fun

it sorry I shouldn't do that no mention

of Tesla Trump tariffs will cover cars

light trucks engines lithium ion

batteries will be included tires shocks

spark plugs wires will be included

laptops and desktop tariffs are coming

uh Donald Trump mentions that again

these are kind tariffs because Biden

manufacturer or a hemorrhaged

manufacturing jobs okay this this is not

entirely true what Donald Trump is doing

is he's referencing Co in the

manufacturing jobs that were lost during

co uh but he does accurately say that

there's a single Shipyard in China that

produces more ships than anyone else

this is true uh that Shipyard by the way

is called the China State ship building

Corporation China is doing the opposite

of us mind you right now they are

stimulating like crazy and I'll tell you

in just a moment about uh about China

but first quick mention to those of you

watching this on replay if you haven't

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to talk about China so the thing about

China is China is less exposed to these

tariffs than they ever have been before

uh and that's actually really important

because if you look at Donald Trump's

sheet China is at the top of the sheet

China is estimated to charge the US 67%

which is you know wild relative to what

China actually charges us based on the

actual uh tariff rates that they have uh

China's actual tariffs are probably

closer to about 2.2% you you could see

that on screen here

2.2% and these are based on 2022 numbers

right so we're about 15 China is at

about 22 so this idea that China is

sitting at 67% and we're going to be

nice to them and only charge them uh you

know half of that is really a concocted

number but it's fine because it's

probably Donald Trump's method of

negotiating that said CNBC argues no we

don't want to negotiate with these

countries they need to pay up so Donald

Trump is calling these the discounted

okay you get a coupon code

and the European Union being slapped

till 20% they've already vowed

retaliation we know China is going to

retaliate and Mexico Canada are going to

try to be friendly to us so we'll see

what happens with them uh both of them

want a free trade deal in a continuation

of the usmca so we'll see what happens

here Canada and Mexico will remain

subject to the 25% fentanyl tariffs so

you're not getting any kind of removal

of that uh and the United Kingdom has

already just responded saying that we

have a range of tools at our disposal

and we will not hesitate to act uh now

UK wor noting they're at the bottom of

this list somewhere in here at 10%

Singapore oh there's singap Singapore is

at 10% that's interesting because

Singapore doesn't actually have tariffs

against us their rate against US is zero

but they're getting the flat 10%

interesting uh but anyway United Kingdom

is on here at 10% as well they don't get

any discount apparently because they hit

the Baseline of 10% Donald Trump's

Administration is also beginning the

process of reclassifying some federal

agency employees to remove job

protections uh Trump tariffs do not uh

impose an additional 10% on Canada and

Mexico but we're retaining the

25% uh uh related tariffs for Fentanyl

and the usmca exemption so clarifying

that a little bit uh and uh let's see

here European

commission president uh will deliver

statement at 5: a.m. Brussel time 1300

or uh 0300

GMT I put my pilot watch on to figure

out what GMT time it is it's uh 2114

UTC okay anyway

so this is a lot folks this is a

surprise uh Bloomberg intelligence right

now is discussing quote I would be

surprised if economists don't start

ratch up us recession probability

calculations pretty quickly on this the

US does not have enough manufacturing CA

uh cap capacity goodness gracious to

replace all its goods Imports which

means a very significant price shock is

looming the National Restaurant

Association said that new reciprocal

tariffs will raise prices for consumers

who are very sensitive to costs

restaurants raise prices about 30% while

food costs have gone up 40% already the

fertilizer industry did not get a shout

out here uh we've got uh the association

of equipment manufacturing saying

equipment manufacturers appreciate

Trump's administration's commitment to

Reviving American manufacturing while we

agree a key to strong US economy is

building more products in America we

need a certain trade environment to make

investments in domestic manufacturing we

are concerned that reciprocal on our

trading partners will hurt our industry

and our customers tariffs are just one

tool at the administration's disposal so

in other words they sound pissed uh high

yield credit is now worsening this is

likely going to lead to more credit

softening that's a Black Swan risk mind

you more of a gry swan risk since we're

kind of somewhat aware of it retail

Federation says these tariffs are going

to equal more anxiety no duh reports

indicate Canada Mexico will not be

subject to reciprocal tariffs announced

on Liberation day that us CA exemptions

will remain in place we already talked

about that but they still have the 25%

tariffs previously mentioned that's why

they're not on the chart here

fine uh let's see

here okay statements from critics of

trump and tariffs are starting to come

in former policy adviser blah blah blah

Americans have a simple request of

Donald Trump lower prices however this

is likely to increase prices okay

whatever now now we're just getting into

some political commentary I'll skip that

uh continuation of USMC compliant goods

from Canada and Mexico being exempt from

tariffs is a major relief for oil

Traders almost all of the roughly 4

million barrels of crude that flow from

Canada to the US is compliant and

therefore should keep shipments coming

this is also good news from consumers

worried about higher pump prices yeah

good good good okay so so I mean like

there's some good in this but boy in

terms of some of these other companies

this is a this is a hosing mind you I

was just getting ready to say why Canada

or China is a little bit more resilient

to some of this craziness they are

partnering with all of our other

partners Canada is talking to to Japan

and South Korea which they haven't done

for 5 years on free trade China is

offering everybody free trade who trades

freely with China this is the opposite

of what the United States is doing the

United States has punishingly high

interest rates and high costs right now

whereas China is literally stimulating

their economy uh they are encouraging

consumers to spend they are encouraging

businesses to invest they are doing the

opposite of America right now okay Zin

ping if you're out there pardon me for

all I have said in the past I think what

you are doing right now is actually

pretty smart uh that said I still don't

know if I could ever go to China because

uh I think you all are just going to

kill me uh but anyway uh sorry I blamed

you for Co it was your fault though so

uh that said I shouldn't say that anyway

uh so that said uh let's see here uh we

I mean I don't know if this gives us the

certainty we were hoping for because

this is a lot worse than we thought you

know going into this we thought we were

going to get like tranches like 105 20%

like these tariffs are way higher than

we expected uh this is probably why the

Nay is down let me see what it is right

now 225 nay

225 uh oh okay well the nikay Futures

right okay so the actual nikay right now

isn't isn't open of course not yet

Futures are down about 2.2% and then

we've got uh obviously the post Market

here is reacting to some of this oh wow

Tesla now down almost 6% a lot of the

you know retail really buys the dip on

Tesla during the day we saw that happen

today we talked about that in the alpha

report but I will say the NASDAQ 100

being down 3.4% this is crazy this is a

huge movement in after hours we were

just talking about in the course member

live stream this morning how rare it is

for the NASDAQ to be uh down or up 3% on

a day if you're not part of the course

member live streams yet you're missing

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price Forever at today's low price if

you go to meetkevin.com and check it out

now now uh that said we've got Bitcoin

now at 843 much lower than where we were

before the event which was about

863 uh lot of stocks selling down here

you've got AMD down 4% Tesla's down 6%

bonds are are rallying on this uh so

very interesting uh okay so then what

else here let's see let's see let's see

here okay uh okay let me see what other

data we had uh Donald Trump does mention

the United States trade representative

report on trade barriers however it's

worth noting that in the report there's

actually no mention of vat tariffs being

a trade barrier Donald Trump says

industry will be reborn today and he

wants to make America wealthy again he

says we won't be ripped off any longer

that this is a historic announcement and

we're going to raise trillions to pay

down our debt yeah not if we go into a

recession and our debt actually explodes

because we have to bail ourselves out of

a recession honestly I was like it was

like this close to getting excited again

this morning that we could get through

these negative cataly and finally start

looking for deals again in the stock

market just freaking ruin it pissed

anyway uh we talked about the milk from

Canada oh yeah this argument Donald

Trump talks about this argument that

prior to 1913 tariffs funded most of our

government listen yes it's true tariffs

made up a substantial portion of our

federal government prior to 1913 because

our federal government was Tiny we

didn't have an income tax until 1913

because we didn't have schools funded by

the government or hospitals funded by

the government we didn't have roads or

highways funded by the government we

didn't have social freaking security we

didn't have a World War I to go through

we didn't have a World War II to go

through we didn't have Medicare we

didn't have Medicaid we didn't have

defense spending Social Security didn't

begin until 1935 no freaking crap our

federal government was way smaller then

than it is now so so sorry but the

comparison is apples to oranges this is

like straight out of vake ramy's

Playbook where where he reads something

sizzly and then wants you to melt your

brain and how eloquently he speaks to

you with without assuming that you're

going to look up the actual facts it's a

scam just like his pharmaceutical

company that his mom rewrote a uh you

know pharmaceutical paper on suggesting

a dead drug wasn't actually dead raised

billions of dollars from unsuspecting

investors from it scamming them by

basically bankrupting the company

becoming a billionaire himself and then

going to start something else that is

slimy to me just like this suggestion

that you know we should just go back to

what we had before okay you want to go

back to the m 1800s no more Social

Security no more Medicaid no more

Medicare no more defense spending no

more uh you know colleges funded by the

government no more highways funded by

the government and and cut the

Department of Defense 8% a year forget

about it why don't you cut it like you

know divide the defense budget by 200

and then you'll be back to what you had

back then it's crazy you know back then

World War I cost us 52% of our gross

national product

52% is how much of our government

uh uh uh production or our total

national production was spent on a war

economy in World War I today we spent

like

3% it's crazy well actually probably it

might even be less that's probably about

right 800 850 Bill divided by $26

trillion economy yeah 3.3% of our gross

domestic product is spent on dep

Department of Defense spending you know

and that includes all the handouts to

Ukraine which I mean don't even get me

started on that we know we we know and I

I pulled this up the other day but I

think it's so interesting we know that

this war is basically just the CIA

directing bombs at Russia to keep Russia

weak okay is really really fascinating

you should read some of the stories they

have on this stuff it's crazy uh but

anyway like when you compare the actual

facts and data you start going holy

smokes I like this is crazy to compare

to those times and this is why I'm

saying the fact that at a time when we

are three times as riing on Global

Imports for our GDP to impose tariffs

that are based on Looney Bin numbers is

idiotic these numbers are straight from

the Looney

Bin they're not real it's basically like

Macy's telling you you're going to buy a

Hugo Boss from Macy's for

$7,000 but today only you could get 50%

off if you open a card you get another

25% off if you use this triple double up

coupon you get another 25% off oh my

gosh you got a suit for $200 at Macy's

that msrps for Seven Grand all hail

Macy's it's a

scam it's ridiculous

anyway I'm disappointed in this I wanted

to turn bullish damn it I'm tired of

being a little

bear Australia's PM says Australia will

not impose reciprocal tariffs tariffs

not the act of a friend decision push-up

cost for American household us tariffs

totally unwarranted we will continue to

make the strongest case for these

unjustified tariffs to be removed from

our exports okay whatever

Australia and then you know yesterday

people were like oh well Israel is going

to remove all of their tariffs on the US

why doesn't every other country you know

what I don't understand is how can

people like Bill schackman have so much

damn money and say like and purposefully

mislead people so damn badly that's what

pisses me off I don't I don't understand

how do they make so much money Lying by

Omission can somebody please help me

understand that because it drives me

nuts it just it feels wrong okay look at

this here I I'll show it to you Bill

lman Israel sets the example of how all

of our allies should preemptively

respond to Donald Trump's desire level

to level the playing field for America

quote breaking Israel has removed all

tariffs on American Products no flying

cooties for 40 years 98% of our trade

with Israel has been free only 2% of

trade with Israel has been subject to

tax to tariff and it's on stupid stuff

like apples that makes Israel like 11

million dollars a year and I'm talking

about Apple Computers I'm talking about

actual apples like Granny Smiths

okay wait a second though that brings in

about1 million of revenue for Israel we

just gave them

$3.2 billion in military aid in 2023 $1

million tax revenue $3.2 billion doll in

military aid you got it Trump free trade

no problem Trump you win no $1 million

on tariffs for you Trump we love you

Trump you're a hero you're doing what's

great for everyone America first that's

the Israeli POV meanwhile They're

laughing at the bank looking at the $3.2

million and Munitions they just got from

America this is stupid this is so

stupid

a I can't handle this anymore I got to

go I just I'm going to have to start

drinking alcohol on stream again or

something this is like I I think I need

Tesla to Gila or something I can't

handle this this is this is this is

insane this is not logical it needs to

end please make this movie end it's a

bad movie I don't like it I'm going to

go now goodbye good luck why not

advertise these things that you told us

here I feel like nobody else knows about

this we'll we'll try a little

advertising and see how it goes

congratulations man you have done so

much people love you people look up to

you Kevin paffrath there financial

analyst and YouTuber meet Kevin always

great to get your take