Trump's Tariffs Cancelled | This Changes EVERYTHING.

The US Court of International Trade has

now called all tariffs from Liberation

Day illegal. Now, this does not mean

every single tariff is illegal. And in

this video, I'm going to provide what

this means for the economy. Is it good

for the economy? Could there still be

bad? And what does it mean for the stock

market and actually investing in

businesses? Let's get started. Quick

heads up. I did yesterday hear the news

within two minutes and I sent out a

tweet. You can always follow me there at

Realme Kevin or a post, whatever you

want to call it. However, I did not make

a video last night because I was

spending time with Mr. Jack uh in

Humboldt at the Redwoods. We were having

a great evening last night and I

thought, you know what, it is uh it is

up to Jack or I should say it is Jack is

deserving uh of us having a really fun

time together. So, we had an excellent

time together yesterday. Uh, hence why I

uh I didn't want to make a video until

uh the next morning. We got back around

midnight yesterday. It was uh it was

really fun. We really enjoyed it. So, uh

anyway, let's get into the content. All

right, look. Here's the scoop. This is

really damn bullish. Okay, I'm just

going to give it to you straight right

up front. This is very bullish because

since February, I've made it very clear

on this channel that the best case

scenario is that everything is walked

back and the damage that was done to our

economy. We just end up praying is

limited. Since then, we've also had

underlying pretty dang strong data. The

jobs market held up. We haven't seen any

real weakness in the jobs market at all.

Now, the FOMC or the Federal Reserve,

they said in their minutes yesterday

that they're really concerned that the

jobs market is going to be substantially

weaker by the end of the year, mostly

because of tariffs. That right now the

labor market was sound and resilient,

but that both inflation and the jobs

market could be severely damaged by the

end of the year and essentially could

dunk us into a recession. That's very

bad. We don't wish that upon anyone. And

so we've been very clear that tariffs

are bad. Now to this a lot of people

respond, unsub, dislike. If tariffs are

bad, why do other countries use them?

All right, look, I made a whole video on

that. Okay, you could you could look it

up. Why tariffs are bad? Meet Kevin. I'm

not going to rehash it here because

today they might be at least in a

significant part over. Now, I've been

remarkably consistent. There are some

morons who like to say, "Oh, but Kevin,

you change your titles." Well, yeah,

duh. That's called me covering other

analysts and news. And I comment,

"Here's what these people are saying.

Here's what Barclays are saying. Here's

what JP Morgan's saying. Uh, here's what

retail thinks." Right? And so, we go and

provide these perspectives from both

sides. We add my commentary. Now,

personally, I've been sitting probably

below a four on my sort of bear bull

scale, uh, of a scale of 1 to 10. 10

being buy everything, one being sell

everything. I've been sitting in the

threes, you know, high twos and threes

range during this tariff disaster, and

I've been below a five since last July.

Well, today with this international

court of of trade ruling, for the first

time in a long time, I'm bumping my bear

bull scale to 5'9 because as long as now

the economic damage of the tariffs we've

already had and the backlash from Trump

is limited, then the only thing weighing

on markets now, in my opinion, are

longerterm, less desirable valuations. I

wonder in other words how much of this

has already been priced in so to speak.

How much of all the tariffs are going to

go away this year is already built in

and reflected in the market. But I want

you to consider the following. This

likely ends the tariff war. Obviously

that's speculation. Donald Trump,

however, has a door here to say he

tried. He can then blame unelected

judges. He could say he tried to collect

more tariff revenue for America to pay

for taxes and you know or or pay pay for

income taxes and get rid of our personal

income tax. But this is a door for him

to like Doge point the finger at

somebody else like Elon with Doge and

walk away. Elon with Doge says, "Oh,

well, doesn't look like Congress is

going to implement the cutting powers

that Doge got away with and now needs

legisl legislative approval for. Oh

well, we tried our best. Going to go

back to my businesses now." And then you

look at the cuts that Doge has done and

the fact that they have been relatively

few outside of like DEI cuts, which is

really a change in priorities, right?

The cuts have been pretty few. And even

when you include DEI, they've they've

been on the small side. It's actually

bullish for the economy. Two trillion

dollars of cuts from Doge would be

bearish for the economy because of the

magnitude of job loss. You know, two job

two workers lose a job for every one

federal worker that's unemployed.

That's a three uh person loss and a

significant impact uh to our labor

market at a time where the labor

market's already been weakening for

about a couple years now. Now, whether

that's because of AI or an underlying

growth decline, not entirely clear, but

the removal of tariffs could potentially

let us stick that soft landing and start

rounding out and take off again. I feel

like we are a plane that literally has

been slowly coming in for this landing.

You know, the landing's here and slowly

coming in. And if we crash on that

runway, it's

recession. What we just got is the pilot

going full power. And so now the

question is, do we have enough momentum

left that we could round out and escape

that that landing at all and go to a no

landing scenario or is it too late and

are we going to tail strike? I don't

know. that and because of valuations is

why I see it at a 59 but that is on the

bullish side of the scale that is

responding to the data and it's also

pricing in the fact that we know while

Donald Trump is going to blame unelected

judges for this Donald Trump can use

sectoral tariffs still so he could lash

out and say something like that's it all

toys all furniture all TVs all

smartphones 80 80% tariffs I don't think

so though I I think Donald Trump just

lost a lot of his negotiating power. His

negotiating power literally evaporated.

We've had one trade deal with a country

that we have a trade surplus with.

Everything else has not resulted in a

trade deal. Instead, we've gotten

negotiations. In other words, delays.

Okay, 90-day delay here, 30-day delay

here. Oh, we'll actually turn that into

a 90-day delay. We've been all over the

place.

This court ruling, I do not

think, is going to fall apart in an

appeals court just because Donald Trump

is appealing. I know people are saying

that. It's okay. My opinion, and that's

what I'm providing in this video, is

that the it's Donald Trump's appeal is

not going to hold up because I do think

that tariffs are the responsibility of

the legislature. And as the court

stated, the 1977 International Economic

Powers Act is illegal in use for

tariffs. Now, is it possible that an

appellet court says, "Nah, Trump can go

ahead and use it." Sure, great. That's

not that that's not fantastic. But to

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businesses can finally start I would say

to about a 90% degree saying all

right over the the next 6 months we'll

probably be completely over this tariff

drama we'll have crystal clear clarity

on sectoral tariffs let's now focus on

Q3 Q4 where people usually like to spend

a lot of money as long as that consumer

keeps showing up the way they have been

the better the Federal Reserve is

concerned that the second half of the

year is when all the tariff drama hits.

But can we now look through it? Think

about it. We've already seen S&P

earnings revisions down now down from

like 10% growth to 5% growth. Jamie

Diamond thinks 0% growth and some other

bears think we should actually be

revised to negative 5% growth. But

that's fair based on tariffs. I mean,

when you open up CNBC this morning, you

see, oh my gosh, earnings revisions in

the toilet for Best Buy. It's not just

Best Buy, okay? It's it's companies

throughout the entire country. Now, of

course, we have optimism coming from

Elon Musk that, hey, we've already been

doing Model Y robo taxi tests or trials

in Austin, Texas. This is this is

fantastic. This is wonderful to hear.

And a lot of people are looking to price

in EPS growth for Tesla. Wall Street has

already revised up the EPS growth rates

for Tesla from 28 to 30% to like 41%.

So, there is clear enthusiasm that over

the next few years, earnings are going

to

grow. This is good. That's Tesla just as

an example. But when you see that kind

of EPS turn, stocks like to go up and I

think that's one of the reasons why

we've seen Tesla do so well. Now,

another thing that's done really well so

far has of course been Nvidia, which

I'll just briefly mention here in just a

moment. Give you a bottom line on this.

But I want you to think

this.

Yes, Liberation Day illegality could get

appealed. Yes, we could get massive lash

outs from Trump on sectoral tariffs, but

we really just killed the 90-day

catalysts for the beginning of July,

July 9th. We killed that tariffs, the

the tariff liberation day 2.0 assignment

of tariffs. Yes, again, we could still

get some tariffs, but I find this

remarkably bullish. The question now is

how much damage was done during this

period of time? And can we round out? I

am optimistic that the answer to that is

yes. I'm also optimistic that the jobs

market can hold through this if it

starts cracking, which we'll know

certainly by

October. It could have been too late. We

could have caused too much damage. And

well, this will be Trump's recession.

Now, of course, the conditions for this

recession were already in place

beforehand, but frankly, when Trump was

elected, there was so much enthusiasm in

the economy that we would have likely

gotten away from the recession at that

point had it not been for tariffs. So,

it's sort of like going into the Trump

presidency is like, oh man, we might be

going into recession. Trump presidency

creates all this euphoria. It's like,

okay, this is actually really good for

the economy. Oh, and the tariffs. Oh,

you ruined it. That's my POV. All right.

I think I've been crystal clear with

that. Now, I understand that sort of

opinion may cost me subscribers because

oh my gosh, how dare you say something

that you don't like about Trump, but my

goal is as in my opinion somebody

educated in economics and in markets,

this is my POV. Take it for what it's

worth. Now, Nvidia earnings yesterday,

look, 30 basis point miss on data center

with a 10 percentage point miss on gross

margin. Totally being blamed on China.

And they're right. How do we know

they're right? Well, because they're not

forecasting the inclusion of $8 billion

of revenues going to China in Q2. And

they're still forecasting a growth of 2%

or 8% annualized in Q2. Now, that's

really low for Nvidia. But if you add in

the 8 billion to see what Nvidia's

growth would be like if you included

those Chinese chips again in Q2, their

Q2 guide would actually be up 20% for

the quarter or 80% for the year. That

means growth has actually accelerated at

Nvidia absent these Chinese chips. So

when Nvidia says demand is incredibly

strong, I don't actually

think when he says demand is incredibly

strong, I don't actually think he's

wrong. Now, I'm going to be talking a

whole lot about stocks and stocks that I

think are cheap and everything. Uh, and

I want to talk to you about those. I'm

going to give you a little bit more

color on Nvidia here, but something to

consider is tomorrow evening, we are

raising the prices for the Meet Kevin

Alpha Report. Use the coupon code that's

available. It's meet Kevin.com. Join the

alpha report. Join the course member

live streams. I'd love to have you

there. Okay, so gross margins back to

72% versus the 71.7% expected on

forecast. Yes, again we've got those

write downs because of China. First

quarter automotive revenue was actually

down 1%. That was one I'm not going

through everything here, just some of

the highlights that I think are very

unique. I was actually surprised that

some of that automotive revenue is down

by 1%, but obviously it's not a big

driver. It's only half a billion dollars

of revenue. data center is like a $40

billion revenue set, right? So, who

really cares that it's down 1%? Doesn't

matter to the stock at all. But to me,

this is a sign that there's little sign

of an AI slowdown. I don't think that

Nvidia is taking you into a recession

anytime soon. And now uh it it like

frankly, let's just put it this way in

Nvidia is just driving massive cash flow

and they're doing phenomenally well and

they're continuing to hold growth and

potentially even greater numbers

than a lot of Wall Street thought their

growth would sort of peter out too. We'd

have this really big bell curve sort of

or exponential curve of growth growth

growth growth and then this petering

out. Well, again, adding back in those

Chinese chips, 20% growth in a quarter,

80%. Phenomenal. Now, obviously, there's

a lot more detail to get into, but this

is my first

reaction, and I can't wait to talk more

about some of the companies that are

just absolutely killing it. So, if you

found this video helpful, consider

subscribing. This is my POV. This is

absolutely bullish and the only reason

the market would not go up substantially

from here is that markets already saw

it. Kevin, 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 Praath

there, financial analyst and YouTuber.

Meet Kevin. Always great to get your

take.