The discussion covered the U.S. tariff policy, with a 10% baseline for other countries and a 125% tariff for China due to their escalation. Matt Gagnon highlighted the delay in the Republican budget blueprint vote due to conservative opposition, emphasizing the need for Congress to act on executive orders for permanence. He noted the volatility in the stock and bond markets, with the bond market valued at $50 trillion and a $9 trillion refinancing need this year. Gagnon also discussed the impact of rising bond yields on debt repayment costs, comparing it to Pentagon spending. He stressed the importance of economic growth metrics since 2008 and the need for a coherent strategy to address the country’s fiscal situation.
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Matt Gagnon discusses the political landscape in Virginia and New Jersey, noting the significance of governor’s races following presidential elections.
Defense Secretary Pete Hegseth said Friday that he ordered another strike on a small boat he accused of carrying drugs in the waters off Venezuela, expanding what the Trump administration has declared is an "armed conflict" with cartels.
President Donald Trump has declared drug cartels to be unlawful combatants and says the United States is now in an "armed conflict" with them, according to a Trump administration memo obtained by The Associated Press on Thursday, following recent U.S. strikes on boats in the Caribbean.