The MeidasTouch Podcast - Terrified Trump Folds in Panic Amid Economic Collapse

Episode Date: April 9, 2025

MeidasTouch host Brett Meiselas reports on Trump panicking and pausing the bulk of his tariffs for 90 days as the global economy was spiraling into complete collapse due to his actions. Thanks to Trade Coffee: Get 50% off your one-month trial at drinktrade.com/MEIDAS Learn more about your ad choices. Visit megaphone.fm/adchoices

What's better than a well-marbled ribeye sizzling on the barbecue? A well-marbled ribeye sizzling on the barbecue that was carefully selected by an Instacart shopper and delivered to your door. A well-marbled ribeye you ordered without even leaving the kiddie pool. Whatever groceries your summer calls for, Instacart has you covered. Download the Instacart app and enjoy $0 delivery fees on your first three orders. Service fees, exclusions, and terms apply. Instacart. Grocer $0 delivery fees on your first three orders. Service fees, exclusions, and terms apply. Instacart, groceries that over-deliver. You started the morning saying, be cool. Just a few hours later, there was a pause put in on the terrace. Can you walk us through what you're thinking about why you decided to put

a 90-day pause? Well, I thought that people were jumping a little bit out of line. They were getting yippy, you know, they were getting a little bit yippy, a little bit afraid. We've got some major breaking news. The headline, a panicked and terrified Donald Trump has folded on his tariff plans. In a major policy reversal, Trump announced a 90 day pause on his massive tariffs after he sparked an economic crash globally. My name is Brett Micellis with the Midas Touch Network. Remember to hit subscribe now and add the Midas Touch Podcast on Apple Podcasts and Spotify. Stocks were collapsing, the bond market imploding, the 10-year treasury yield was skyrocketing, indicating that mortgage

rates and other loans were about to skyrocket. So naturally, Donald Trump did what he does best. He caved. Effective immediately, all of the tariffs will be capped at 10% for the duration of a 90-day period, with those additional higher tariffs being paused. The only exception is China, which will now face a dramatically increased tariff rate of 125%. So I want to be extra clear here just for a second. Trump has still put a 10% tax on virtually everything Americans will buy. Costs for businesses will still be higher. Prices for Americans will still be higher. Trump announced the pause on his Truth Social website, writing the following, quote, based on the lack of respect that China has shown to the world's

markets, I am hereby raising the tariff charged to China by the United States of America to 125% effective immediately. At some point, hopefully in the near future, China will realize that the days of ripping off the USA and other countries is no longer sustainable or acceptable. It's always projection with this guy, right? Let me continue. Conversely, and based on the fact that more than 75 countries have called representatives of the United States, including the Departments of Commerce, Treasury, and the USTR to negotiate a solution to the subjects being discussed

relative to trade, trade barriers, tariffs, currency manipulation, and non-monetary tariffs, and that the countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States, I have authorized a 90-day pause and a substantially lower reciprocal tariff during this period of 10%, also effective immediately. Thank you for your attention to this matter. So yes, we are seeing this popular meme play out again in real time. Trump makes a stupid decision, something really bad happens, he convinces his followers the problem is now magically solved, and he then reverses his stupid decision, and the cycle

repeats and repeats and repeats. It should be noted that Trump this morning encouraged his followers to buy stock, writing just hours before he made the announcement, quote, this is a great time to buy DJT. Naturally, once Trump made the announcement, the markets had a massive jump. Market manipulation, anyone? The Trump propagandists kicked right into gear, calling this panicked reversal the art of the deal, and pretending that Trump was not reacting to crashing the global economy and US bond markets. Trump's chief propagandist, Caroline Levitt,

was one of those people calling this the art of the deal. Listen to this. Excuse me, if I, excuse me, Raquel, if I could just add to what the secretary said, many of you in the media clearly missed the art of the deal. You clearly failed to see what President Trump is doing here. You tried to say that the rest of the world would be moved closer to China when, in fact, we've seen the opposite effect. The entire world is calling the United States of America, not China, because they need our markets.

They need our consumers and they need this president in the Oval Office to talk to them. And that's exactly why more than 75 countries have called, because the United States of America is the best place in the world to do business. And as the president has shown great courage, as the secretary has said, in choosing to retaliate against China even higher. Elena, go ahead. It's so embarrassing. She literally did this meme.

Trump goes, I'm adding the tariffs. His followers go, this will create jobs. Trump says he's removing tariffs. His followers go, this is the art of the deal. And the cycle repeats. And if you're not feeling the secondhand embarrassment enough just yet, well, let me show you this clip of Benny Johnson. This was put together at Project Liberal. And in the first clip, you'll see Benny Johnson, a MAGA talking head who is literally being paid by Russia to spread pro-Trump propaganda, talking about the economic crash occurring under Donald Trump. He was telling his listeners that these are just numbers. Everyone loses money.

It builds character. But in 2024, when Joe Biden was president and the stock market was down for a single day, he called it the Kamala crash, and he treated it like the apocalypse. Watch this. Losing money costs you nothing. This is just the reality of life. You're like, were you young, young and dumb? How much money did you lose? Everyone loses money. Everyone loses money. It costs you nothing. In fact, it builds quite a bit of character. In fact, you learn a lot of lessons actually by losing money. It's bloody, bloody, bloody, bloody Black Monday. Holy moly. The Kamala crash is here. Kamala needs to get in front of a camera today. People are losing their

homes today. People are losing their fortunes today. People are losing their futures today. People are losing their 401ks today. This is shaping up to be one of the worst market days in American history. You've got a lot more to report. I'll be right back after this. Let's be real. Coffee isn't just a drink. It's a ritual, a lifeline, the bridge between half asleep and ready to conquer the day. And if it's that essential, why settle for anything less than extraordinary? That's where trade comes in. Listen, you know I take my coffee seriously. And every single bag of coffee I've received from trade has been next level. Trade is not just a subscription. It's like having

a personal barista who actually knows what you like. You just take their quiz and in under a minute, they'll match you with your perfect coffee. And if your first bag isn't a hit, they'll replace it for free until they get it right. I love that. Trade is the number one US coffee destination, working with over 50 of the best roasters around the country. You're getting top quality coffee roasted to order while supporting local businesses. That's a win-win. Just this week, I got a bag of Ethiopian coffee from a roaster called Necessary Coffee that's based in Pennsylvania, and it was just incredible. And I love that I never have to worry about taking an emergency run to the grocery store for a mediocre, overpriced bag because Trade delivers top-notch coffee straight to my door.

Right now, Trade is exclusively offering our listeners 50% off your one-month trial at drinktrade.com. That's drinktrade, T-R-A-D-E,.com,.meidas, M-E-I-D-A-S, for 50% off your one-month trial. Trust me, you will never go back to grocery store coffee. If you remember, just yesterday, Donald Trump was calling any Republican who suggested even pausing the tariffs weak and panikins. So I guess this makes Donald Trump weak and a panikin. And by the way, if tariffs were supposed to make us so rich and strong and be the quote medicine that we all needed, then why would he pause them?

Can a single Trump supporter answer that for me? Huh? Crickets? Thought so. Let's pull up some receipts. Here was Trump on April 7th saying that he was not looking into a pause. Mr. President, I'm in a battle to the the markets today and would you be open to a pause in tariffs to allow for negotiations? Well, we're not looking at that. Here was Caroline Levin on April 8th saying that no delay was being considered. Elena. Hi, Colin.

It's clear the president has gotten the world's attention with these tariffs. Is there is he considering at all potentially holding off on imposing some of them before the deadline or maybe later reversing them because he's having these negotiations and having these good talks with other leaders? The president was asked and answered this yesterday. He said he's not considering an extension or delay. I spoke to him before this briefing. That was not his mindset. He expects that these tariffs are going to go into effect. And you said something very important, Elena, in your question. You said the president has captivated the attention of the world.

Absolutely, he has. And it's about time we have a president in the Oval Office who is putting the world on notice and is putting the American people first and, again, is using the leverage of the United States to negotiate good trade. And just two days ago, Caroline Leavitt told the press that the idea that Trump was even considering a pause was, quote, fake news. Watch this. Both to Caroline Leavitt, the White House press secretary on the phone just a short time ago.

And she tells me it is, quote unquote, fake news that the White House is considering a 90 day pause. So the White House pouring cold water on this idea, wherever it came from. Trump's Treasury Secretary Scott Besant, who said he hasn't been included in like any of these tariff decisions, is now saying that this was all part of the plan

and that Trump actually goaded China into a bad position. Watch this. All this was, again, this was driven by the president's strategy. He and I had a long talk on Sunday, and this was his strategy all along. And you might even say that he goaded China into a bad position. They responded. They have shown themselves to the world to be the bad actors. And we are willing to cooperate with our allies and with our trading partners

who did not retaliate. It wasn't a hard message. Don't retaliate. Things will turn out well. This is just typical loser and abuser behavior. You try to punish somebody, they react to protect themselves, and then you try to punish them more and blame them, saying that they were asking for it. Just it's so disgraceful this whole thing. Oh, and by the way, speaking of China, Fox is now reporting that any TikTok deal with China is now off the table. Watch this. VAR was talking as of yesterday about not taking the win and now they did. And it's all because of the bond market. I want to point out one other thing because of China, there will not be a TikTok deal. Okay? The White House has confirmed to me that is basically

off the table. As Roger Sullenberger of the Daily Beast writes, quote, the volatility of Trump's presidency seemed like it may function as its own kind of non-monetary tariff, eroding trade relationships without generating the additional tax revenue. And that really is the issue. I mean, Trump has lost complete control of the tariff narrative. He has proven himself to be an erratic and untrustworthy trade partner, an abuser of the global economic system. He offers no stability to businesses or governments. Under his leadership, there is no reason for our allies or our rivals to place any faith in the consistency of U.S. policy. And for American businesses, the uncertainty has to be paralyzing. How can a company justify sinking billions into building

factories in the United States if those investments could instantly be undercut by a single tweet? Trump could raise tariffs, lower them, scrap them entirely at a whim, obliterating an entire business model overnight. There's no strategy here, no coherence, only chaos, and we all suffer because of it. As Midas Touch editor-in-chief Ron Filipkowski says, quote, the credibility of the U.S. government is completely shot, gone, annihilated. Nobody anywhere in the world can believe a single word that comes out of this administration ever. Oh, and here's a photo that the Democrats on the House and Ways Committee posted. Trump's trade representative, Ambassador Greer, was in the middle of testifying to Congress

about why Trump's tariffs were so great and should never be paused. And at this very moment in the picture that I'm showing right now, he found out that Trump reversed the policy. For those listening, he's staring down at his phone in disappointment and confusion

after hours and hours of testimony. The Ways and Means Democrats tweeted the following along with this image. Heartbreaking. Man discovers he has to backpedal on a policy he just spent over four hours defending. Ouch. So there you have it. Trump caved again. The propagandists, they're out in full force to try to spin this. Our alliances are shattered and Americans are worse off because of Donald Trump's erratic behavior. We're going to continue to follow this and all the news, so make sure you are subscribed to our YouTube channel.

Also, make sure you add the Midas Touch podcast right now on Apple Podcasts and Spotify, and join us on Substack at MidasPlus.com. Thanks so much. I'll see you soon. Can't get enough Midas? Check out the Midas Plus Substack for ad-free articles, reports, podcasts, daily recaps from Ron Filipkowski, and more. Sign up for free now at MidasPlus.com.