Matt Gagnon discussed the recent trade deal between the U.S. and Japan, highlighting President Trump’s announcement of a 15% tariff on Japanese auto exports, down from the threatened 25%. Gagnon criticized the deal, noting it fails to achieve true free trade and will increase the cost of imports and exports. He argued that higher tariffs lead to less trade, potentially exacerbating inflation. Gagnon also criticized the use of tweets for major announcements and questioned the long-term economic impact, suggesting that the revenue from tariffs would be insufficient to significantly reduce the budget deficit.