The Adam Mockler Show - Trump BACKS DOWN as Everything BACKFIRES ON HIM

Episode Date: April 23, 2025

Adam Mockler with MeidasTouch Network breaks down Donald Trump's backing down across the board. Learn more about your ad choices. Visit megaphone.fm/adchoices

All right, this is Beyond Parity, and I am losing my mind. Trump and his admin seem to be doing a complete U-turn on both the tariff policy and his entire economic policy only about a month after waging economic warfare against the entire globe. After everything has fallen through, now this reads, Trump says China tariffs will, quote, come down substantially, hinting at potential U-turn. This is what you call the art of the fold. Now, this is going to be an important video because I want to walk you through how Trump

escalated and escalated and escalated to ultimately just back down quietly in the middle of the night. And I am so sick of this myth that is permeated through American politics that we need a businessman president. We need a CEO or someone who isn't afraid to shake things up and be mean to people. That is not worked. Over and over we have seen that Trump doesn't know how to negotiate. He doesn't make deals. He manufactures chaos. He loses control of it and then scrambles to clean it up on the news or PR-wise while his followers eat it up and he quietly retreats. I can show you this happening over the course of the past month across multiple fronts. I mean, let's start off with what he did with Jerome Powell. I was watching this segment

from Lawrence O'Donnell, who I always find to be really spot on. And let's just check this out really quickly. Well, once again today, Donald Trump backed down. Once again today, the man who always pretends. He never backs down, never backed down big time. Donald Trump said repeatedly today, and it seemed desperately, quote, I have no intention of firing him. And he was not talking about his unqualified and incompetent Secretary of Defense who shared battle plans with his wife and others the same Secretary of Defense who promised to stop drinking if he became Secretary of Defense. Donald Trump said nothing, nothing today about Secretary of Defense Pete Heggseth. He did not defend Pete Heggseth today. He did not attempt to deny any of the

reporting from the New York Times and NBC News about the ways that his Secretary of Defense shared battle plans. This is an entirely different story, by the way. I mean, we've been covering this one relentlessly, but this isn't aside from the economic retreat. There was a time when a Secretary of Defense getting caught, leaking, sensitive information could have, among other things, rocked the stock market and sent it into a downward spiral.

But the stock market has no time to worry about an unqualified and incompetent secretary of defense who may or may not have stopped drinking when Donald Trump is, directly destroying the stock market in bursts of economic policy dementia that have created the most uncertainty the American economy has ever seen, and I mean ever seen, because the uncertainty is based entirely on what will one person's whims be tomorrow or the next day, or the next week, the next month or the next year. A year is the minimum planning horizon for economic planning and economic decisions in business or in our personal lives. And after destroying the stock market with tariffs that are actually illegal because Donald Trump has imposed them in violation

of laws that control the president's use of tariffs, Donald Trump decided that now would be a good time to attack the chairman of the Federal Reserve, Jerome Powell, who be- Okay, and this is where we get to the main topic. Trump's application of blanket tariffs and his attacking of Jerome Powell completely tanked the market. The dollar was weakening. People were selling off bonds, and he's retreated on both. Listen.

Came the chairman of the Federal Reserve when Donald Trump appointed him in Donald Trump's first term, President Biden then reappointed Jerome Powell. And on Monday, in the middle of the morning trading sales. session on Wall Street, Donald Trump decided to attack Republican, chairman of the Federal Reserve, Jerome Powell, and a social media post that left the stock market reeling under the expectation that Donald Trump was going to fire the chair of the Federal Reserve, or at least try to. And on Monday, Donald Trump said, quote, there can be a slowing of the economy unless Mr. Too Late, a major loser, lowers interest rates.

now. So there was the president of the United States doing two things that no president has ever been stupid enough to do before. One, predict a recession. And two, blame it on the chairman of the Federal Reserve, who he was publicly insulting. Thank you. And then Trump backs down entirely. The trouble for Donald Trump is everyone on Wall Street thinks Jerome Powell is good at his job. and everyone on Wall Street now realizes that Donald Trump is much worse at his job than they ever expected him to be. Donald Trump's tariff dementia was bad enough. But then came the trading day yesterday that the Wall Street Journal labeled the dementia was bad enough.

But then came the trading day. The trading day. We'll resume this in one second, but let me walk you through how this is all happened, how the art of the fold has taken place right in front of us. So we've seen Trump place 145% tariffs on China, but then what he did was make an exemption for smartphones and computers from new tariffs. Let me remind you, smartphones and computers are the number one export from China to America. Just think about this from a negotiation perspective.

You are giving up your largest leverage point, perhaps the most important slice of China's export economy, It is the most important slice to America, and you just leave it untouched. And it's because Apple got scared, the stock market shuttered, Trump blinked. It's not a strategy. It's post-hawk panic. It's doing something, seeing how people react, and then pivoting afterwards, which is what Trump's entire career is.

But after Trump exempts smartphones and computers from tariffs, he lets it play out, and then the dollar begins to fall, fall, and then Trump backs down on Fed attacks against Jerome Powell. So after appointing Jerome Powell as a Fed chair. in his first term, Trump then begins to attack Powell, even though Trump very likely knows Powell isn't the one unilaterally making decisions, but he accuses him of all these crazy things, and then he floated the nuclear option of firing the Fed share, even though he couldn't, markets drop, the currencies begin to swing, investments in the economy slow because it sends

a really loud message. Monetary policy is no longer based on economic indicators. It's based on political whims, which is a very, very scary thought. Let's continue over here. yesterday that the Wall Street Journal labeled the fire Jerome Powell market route. That was the Wall Street Journal headline on Monday night. Donald Trump was in relatively polite language under the circumstances, basically being accused by the journal and others of being a dangerous fool. And the Wall Street news media for attacking Jerome Powell. And so today, the day after a disastrous day in the stock market,

attributed 100% to a statement that Donald Trump made in the morning, Donald Trump, the man who made a living on TV saying you're fired, Donald Trump, the president who has fired more cabinet members and more White House chiefs of staff than any other president in history, Donald Trump who has fired people, he is not legally allowed to fire. That same Donald Trump pretended that everyone at the Wall Street Journal was just crazy to think. same thing they did it with Harvard. They sent a letter to Harvard and then after Harvard said, we're not going to bow down to this. They said this was actually a mistake. It's Harvard's fault. Harvard's crazy. He would ever try to fire someone. He's not legally allowed to fire.

It's literally gaslighting 101. And to go on to this article, Singapore, the U.S. dollar rose sharply and then studied on Wednesday as Trump backed away from the threats of firing Federal Reserve Chair Jerome Powell in a relief to investors. Don't let MAGA, ever spin this as a win or negotiation. This is the definition of taking two steps backwards and then going one step forward. Genuinely, the stock market drops 10%, and then want to recover us a little bit because Trump backs off and takes the gun away from his own head, everybody is a little bit relieved. So markets reacted, but that's because Trump is no longer going to shoot every, is no longer going to take a gun and just like spray it towards every country, you know?

Late on Tuesday, Trump appeared to back down, quote, I have no intention to firing him, Trump told reporters in the Oval Office on Tuesday. I would like to see him be a little bit more active in terms of ideas to lower interest rates. That's not up to you, homie. That's not even up to Jerome Powell. Jerome Powell is just the face of the FOMC. There's actually a board of bankers and advisors who are very experienced. Jerome Powell, by the way, isn't some economic dictator who makes all the decisions. There is a board that Jerome Powell is a part of. He's just kind of the face of the board. Quote, markets are realizing that the administration cannot afford to let asset prices crash, and this is drawing in the dip buyers. For now, Trump views propping up markets as

providing him with policy leverage. This is a mess. Quote, trade is a bigger story here, as how tariffs play out will dictate where the U.S. economy and therefore U.S. interest rates are headed. Quote, the dollar has been showing tentative signs of a trough since last week, but if Besson is correct in thinking that trade tensions are to recede, it could prove to be the trigger the dollar bulls we're looking for. I'll leave it there. I'm just going to say Trump back down across the board. He threatened the trade war. Anybody, everybody can admit that he was the one that started this. He's the one that campaigned on tariffs and started this war. And then when I asked Trump supporters, can you name one concession he got from any other country? They look at me

blankly. I know some are watching this, so let me know. What concession did he get from China or Japan? Because to me, it just seems like he placed the tariffs, made a huge mess, and then back down quietly. No concessions. No interest rate cuts. No changes in global capital flows. nothing. The only thing that has changed is America's credibility, and I'll leave it at that. Drop a like, subscribe. I'll see you all in the next video and peace out.