Part 7/12:
Beyond the economic technicalities, the conversation touches upon public sentiment. Stephen expressed concern that the current approach to tariffs and trade policies might be damaging the political capital necessary to negotiate effectively. He argued that President Trump’s previous stance—where he could threaten or impose tariffs—gave the U.S. leverage over trading partners like Japan, China, and Canada. Without this leverage, the U.S. may find itself at a disadvantage, possibly leading to less favorable trade outcomes.