 When I was at the G7 I said I have an idea everybody. I'll guarantee you will do it immediately Nobody paying more tax everybody take down your barriers no barriers no tax everybody are you all set no more tax? Canada you're not going to get two hundred and seventy-five percent for your dairy and you're going to take down all your Bears we're going to take down all our birds. We're going to take down all our taxes, right? You know what happened Everybody said can we get on to another subject? President Trump talking to Maria Bartiromo About a no taxes no barriers trading zone with Europe and Canada today Nobody's responding idea did not go over very well, but look at this back in April the European Union and Mexico They reached a trade deal all trade and goods practically all of them between the EU and Mexico now duty-free No taxes including the farm sector. This is Canada fights Trump terrorists with terrorists of their own on look at items like Yogurt coffee whiskey ketchup. Yeah, we're getting to Heinz ketchup packets Let's take it to the panel and best mark advisory groups Michael Lee and owner of stocks whoosh Melissa Armo Melissa a you in Mexico doing what Trump is asking for your reaction. I know so exactly why can't they cooperate Trump is taking a hard line They don't want to cooperate, but he's a he's unreasonable about this, right? Well, that's what they say but there's good reasoning and thinking behind what he's saying because the tariffs really aren't fair And yet they made this agreement with Mexico EU did so why are they fighting with Trump to do this? It doesn't make any sense and also I want to know on Friday Those new tariffs come out that we're putting our that are going against China Expect some big action July 6th. That's okay in the markets. Yes. Yeah. Yes, 40% not just today because I know today It was 40% tariff, right? Yeah, we're talking about that Michael your reaction to that the fact that EU and Mexico now EU and Mexico have a Tariff-free trade zone Well, you know, that's good. That's the way it should be Trump is asking for that and here EU saying no and then all of a sudden EU and Mexico have it So that's because it's a much smaller You're talking about much smaller dollar terms the US is a big consumer of manufactured goods all over the world We have a mass I don't understand your logic there. I don't get it. So what is that that it's a it's it's a rounding air, right? So compared to the US they need that they need that money from tariffs to protect their own industry and like if you look at the Goods that are the US goods that are produced that are tariffed over in the Europe That's there to protect the lobbyists that have bought off their various Politicians to be there like these these tariffs are stupid You need to you need to tear them down and the ones in Canada are particularly the worst Justin from Canada, I go ahead Michael finish your point I was gonna say Justin from Canada just through these ones on at the last minute. Just it's all for political posturing, right? They're not gonna go anywhere. They're a huge trading work huge trading partner for them We actually have a slight trade surplus. So the problem is is the manipulation of the rules So countries are countries like China are going into Canada and Mexico and pushing goods into the US Free and they're bending the rules and breaking the rules They're not applying by the rules that we have set forth to for a free trade so Melissa What inning are we in with this first second? I don't think this is over by a long shot This could go on for days. It could go on for weeks. It could go on for months I'm not worried and long term the markets look good, but short term right now this summer I said it I don't think the SMP or the Dow make new highs this summer even though the Nasdaq did Look for more selling to continue even though we got bought up today and we rallied today We got down in the pre-market. We were selling off in the pre-market again and back down 194 We were yeah, Michael, you know usually in the midterm and think on average the S&P is down nearly 17% Since World War two and then it bounces back 32% we're gonna get a bounce back even with this fight over tariffs Well, look, I don't think this I think this tariff stuff is all noise the US economy is doing spectacularly We had a fantastic manufacturing number today So like as long as the the US economy continues to chug along and continues to approve Which I think will happen for another couple more years stocks will ultimately end up higher in the interim things like tariffs trade wars Nuclear war with North Korean those will cause headline risk and you know possibly create opportunities to get in Do you think it's been totally unfair? Do you think the trade tariffs have been unfair to the US? Well, look, I think we can do a lot better and the best correlation I've heard for these trade tariffs and these trade wars is we're Essentially the union workers going on strike. We don't normally go back to work without a better deal We have a we have the largest economy. We have a huge trades trade surplus imbalance in the US So we're almost always gonna come out ahead because we're the ones carrying the bigger stick in the form of our trade Listen, it's not but there's one thing that everybody's you think the trade imbalance. No, I think I think that it's unfair I think it's unfair. I think it's unfair. So I think what Trump's I think what Trump is doing is not unfair by imposing this Restrictions I think in the end it's better, but there's something else Trump is concerned about our national security I don't know if you remember this but but Broadcom wanted to purchase Q-com. This was back in 2017 exactly and that did not go through and the reason was Trump cited national security Remember China is stealing a lot of our intellectual property and information and I think And this has been a problem for I think since 2001 Michael This has been a real long-term problem. I think finally possibly China is getting embarrassed by this Michael final word Well, look I China is super aggressive on all fronts and they need to be confronted Again over the long run like we need China and China needs us They need us far more than we need them But this works better if we could both play nicely Well, it's made and make America great again versus China's made in China 2025 You guys are gonna come back on this and more Michael Melissa and thank you so much for joining us We really appreciate it and while it is getting to the finish line President Trump narrowing his picks for the replacement to Supreme Court Justice Anthony Kennedy We've got the story in the details the latest coming up and it is a victory for the left in Mexico's election But what does it mean to have a socialist who socialists who's now saying he possibly may go soft on crime Right at our border. We've got the details on that coming up stay right there