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I had the privilege of attending President Trump's meeting with the UK Prime Minister today. I saw firsthand his exceptional diplomacy and statesmanship as he strengthens international support for peace in Europe and the Middle East. We're also pursuing a new trade deal between the US and the UK, which promises greater prosperity, security, technological advancements, and medical breakthroughs for both nations. President Trump inherited a world seemingly headed towards endless war, record-high inflation, falling living standards, and an open border. Now, we're reopening American energy to lower living costs, actively pursuing peace, and tackling debt through historic cuts to the federal bureaucracy. We're reasserting American strength and leadership, using our power and vision to restore peace globally. This has been an extraordinary first month of his presidency.

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Speaker 1 stated they have not spoken about tariffs with the person in question, and suggests reading "The Art of the Deal." They believe the person is a negotiator who lays out tough terms, which sometimes works. Speaker 1 says we need to prioritize national security, resiliency, and diversified supply chains. They state tariffs are a tool that, if properly used, could help resolve these issues. Speaker 0 asks if tariffs are a legitimate negotiating tool, and Speaker 1 confirms they are.

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The speaker claims that other countries have been charging the U.S. high tariffs, and the U.S. will now charge discounted reciprocal tariffs. China charges 67%, and the U.S. will charge 34%. The European Union charges 39%, and the U.S. will charge 20%. Vietnam charges 90%, and the U.S. will charge 46%. Taiwan charges 64%, and the U.S. will charge 32%. Japan charges 46%, and the U.S. will charge 24%. India charges 52%. Cambodia charges 97%, and the U.S. will charge 49%. The United Kingdom and Brazil both charge 10%, and the U.S. will charge 10%. South Africa charges 60%, and the U.S. will charge 30%. Bangladesh charges 74%, Pakistan charges 58%, and Sri Lanka charges 88%.

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The world has been cheating the U.S. for decades with tariffs and non-tariff barriers like VAT taxes, dumping, currency manipulation, and technical and agricultural barriers. These barriers transfer $1.2 trillion of wealth abroad annually, and $18 trillion since the U.S. started running deficits. The president's strategy is to charge other countries what they charge the U.S. It's easy to calculate the tariff differential, but non-tariff barriers are much higher. The U.S. paused for ninety days, knowing countries would want to bargain, and anticipates potentially having 90 deals in 90 days. The speaker believes this pause was a success for President Trump, and they are going to get this done for the American people.

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India has been a high tariff nation, making it difficult to sell into their market due to strong trade barriers. We're now moving to a reciprocal system; whatever tariffs India imposes, we will match. Previously, during my first term, we had the strongest economy ever, but I held off on reciprocal tariffs due to global suffering caused by COVID. Now, after decades of abuse, it's time to implement this fairness mechanism with many nations, not just India. The European Union is very difficult, and China was terrible until we started collecting hundreds of billions of dollars from them. I discussed India's high tariffs in the first term but couldn't get concessions. So, we're simply matching their tariffs, which is fair to the United States and, I believe, fair to India as well.

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The speaker addressed confusion around a chart presented by the president, questioning why places like the Herd and McDonald Islands, which don't export to the U.S. and are inhabited by penguins, were included with a 10% tariff. The response was that leaving any country off the list would allow others to "arbitrage America" by shipping through them, as China did in 2018. The president aims to close these loopholes and fix the U.S. trade deficit, viewing it as a national security issue. The goal is to rebuild American manufacturing for essential goods like medicine, semiconductors, and ships, ending what he sees as the U.S. being "ripped off" by other countries.

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President Trump believes China wants and has to make a deal with the U.S., and that China made a mistake in retaliating. Because of this retaliation, 4% tariffs on China will go into effect tonight at midnight. Trump believes China doesn't know how to start the deal-making process. If China reaches out to make a deal, Trump will be incredibly gracious, but he's going to do what's best for the American people. When asked under what conditions Trump might consider lowering tariffs on China, the speaker stated it would be imprudent to say.

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Speaker 1 states that a deal with Canada is not being held up, but rather, there are different concepts being considered. Speaker 1 favors tariffs because they are simple, easy, and precise. Mark has a more complex, but also very good, idea. They are going to consider both concepts. Speaker 1 believes a deal is achievable if both parties agree.

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Canada rescinded its digital services tax to restart trade negotiations with the U.S. after President Trump halted talks, calling the tax on U.S. tech companies a "direct and blatant attack." The Canadian tax would have imposed a 3% charge on Canadian revenue over $20 million for U.S. tech companies. Trump also suggested the EU's digital rules are on the table in trade talks, implying the EU might make concessions on big tech laws to avoid U.S. tariffs. He criticized the EU's Digital Markets Act and Digital Services Act, which impose fines for noncompliance. The European Commission denied Trump's suggestion, asserting the sovereignty of its decision-making process and stating its digital laws are "untouchable." The U.S. should be demanding free speech principles from allied countries, but an agreement is more likely regarding digital service taxes than free speech.

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The European Commission's retaliatory tariffs are still on the table if a deal with President Trump cannot be made. Speaker 1 believes a deal can be made and offers to help. Their goal is to invite President Trump to Italy for an official visit and explore the possibility of a meeting with Europe, advocating for frank discussions to find mutually beneficial solutions. Speaker 1 believes that together, both sides are stronger and is committed to finding the best way to reinforce this strength on both sides of the Atlantic. Speaker 0 claims that making a deal with Europe will not be a problem because the U.S. has something that everyone wants.

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The White House is pursuing both long-term tariff revenue and trade deals. The administration has 18 important trading relationships and will be speaking to those partners. President Trump believes tariff revenue could provide income tax relief, potentially in the upcoming tax bill. He campaigned on no tax on tips, Social Security, and overtime, while restoring interest deductibility for American-made autos. Tariff income could be used for tax relief on those items. The speaker believes tariffs will bring back American manufacturing and generate substantial revenues, suggesting a significant role for tariff revenue in US fiscal policy.

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The speaker believes the current tariffs are stronger than expected but are the opening step in a negotiation that won't last past the first half of the year. The tariffs fall into four groups: automobiles (Mexico, Canada, Germany), reciprocal tariffs, a 10% tariff from all countries, and China. The USMCA agreement will likely address tariffs with Mexico and Canada. Germany's tariffs could be fixed to improve US market access. The president will seek victories by negotiating with many countries. The 10% tariff from all countries may be to prevent supply chains from moving. China requires special negotiation beyond a phone call, potentially involving a trade deal. A 10% tariff on all imports could become a permanent legacy, providing predictable analysis for companies and long-term revenue for the US government. China will retaliate, but not dollar for dollar, acting in its own interest. China is confused by the current situation, lacking backchannel communication, and prefers negotiating with Secretary Besant, but there is no one to fill that role currently.

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The European Commission's retaliatory tariffs are still on the table if a deal with President Trump cannot be made. Speaker 1 believes a deal can be made and aims to invite President Trump to Italy for an official visit, potentially organizing a meeting with Europe. The goal is to frankly discuss everyone's needs to find a mutually beneficial middle ground. Speaker 1 believes that together, both sides are stronger and is seeking the best way to reinforce both shores of the Atlantic. Speaker 0 claims that making a deal with Europe will not be a problem because the U.S. has something that everyone wants.

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President Trump's strategy was to hit back very hard. The media predicted civilization would melt down. However, half the countries in the world decided to lower trade barriers and make a deal with the president. They needed access to US markets and determined it was in their best interest. These countries came to the table because of President Trump's actions. Some may not want to admit it, but it is the truth. Deal-making is an art, and President Trump has mastered it.

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US Business Leaders are begging to meet with the president because he is a negotiator making good deals for the American worker. The president discussed the need for steel and aluminum tariffs in his speech in Pennsylvania. According to someone backstage at the speech, the tariffs are the greatest thing to happen for the Pittsburgh community in sixty years. The president is delivering on his promises to bolster the steel and aluminum industries and protect those jobs. If not for this president, that steel plant in Pittsburgh would have closed and the president saved that company, those jobs, and that community.

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The speaker states they are in dialogue with the prime minister and believes he is happy with how they treated them with tariffs. The speaker addresses foreign leaders, urging them to terminate their tariffs, drop barriers, and stop manipulating currencies, which they claim is devastating. They request these leaders buy tens of billions of dollars of American goods. The speaker asserts tariffs protect the country from economic harm and will lead to unprecedented growth, adding that this growth has already started.

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President Trump is threatening a 50% tax on all imports from the EU and a 25% tariff on Apple products if iPhones aren't made in America. These proposed tariffs on the EU, a long-standing US ally, are higher than the 30% tariffs on China, a geopolitical rival. The reduction of tariffs on China was intended to facilitate negotiations between Washington and Beijing. Trump is reportedly upset by the lack of progress in trade talks with the EU, which is pushing for zero tariffs, while Trump wants to maintain at least a 10% tax on most imports.

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The speaker states that China wants to make a deal with the United States and believes China has to make a deal. China made a mistake when it retaliated. When America is punched, the president punches back harder, which is why 4% tariffs will go into effect on China tonight at midnight. The president believes that Xi and China want to make a deal, but they just don't know how to get that started. If China reaches out to make a deal, the president will be incredibly gracious but will do what's best for the American people. The Chinese want to make a deal, but they just don't know how to do it.

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The tariff on China will increase to 25% because China retaliated against the U.S. More than 75 countries have contacted the White House to negotiate better trade deals. There will be a 90-day pause on reciprocal tariffs during negotiations, and the tariff level will be reduced to a universal 10%. According to the Treasury Secretary, President Trump's negotiating strategy has brought more than 75 countries forward to negotiate. Countries that do not retaliate will be rewarded with a 10% baseline tariff. China's tariff will be raised to 25% due to their insistence on escalation.

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Trump removed the Philippines and Indonesia from his tariff hit list at 19% each, and Japan at 15%. Japan has $550 billion invested in the U.S. and has created thousands of jobs. According to Speaker 1, the U.S. just signed the largest trade deal in history with Japan. He states that it's a great deal for everybody, a lot different from deals in the past, and that the U.S. is doing really well as a country with a lot of money flowing in.

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With this agreement, reciprocal tariff rates will decrease to 10% on both the United States and Chinese sides, representing a 15% reduction for the United States and a 15% reduction for China. A 90-day pause period for negotiations will commence, with commitment from both countries. China will also remove countermeasures currently in place. However, other tariff measures implemented by the United States in the past, including those from 2018, tariffs under other statutory authorities, and tariffs related to fentanyl, will remain unchanged for now.

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The speaker believes President Trump has "won" because 40% of the world's countries are supposedly trying to reduce tariffs with America due to his actions. The speaker claims China wants a deal, not primarily for economic reasons, but to "save face." China's economy is allegedly in its worst shape in 25 years, making it unable to withstand further economic conflict. The speaker asserts China is quietly seeking a deal with President Trump, similar to 40% of countries worldwide. The speaker urges seizing the opportunity and pursuing a deal aggressively.

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On January 17th, the British signed a deal with Ukraine securing exclusive rights to future agreements. This is a key point, as it seems the U.S. was unaware of this arrangement. The UK/Ukraine deal is a 100-year agreement covering security guarantees and economic development. It appears President Trump and his team realized they were being misled, creating conflicting narratives. News outlets claim European leaders support Zelensky, but the U.S. is seemingly being asked to commit to a deal the British have already secured. To move forward, honesty is crucial. The President was attempting a straightforward agreement on mineral rights, unaware the British had already finalized a deal days before his inauguration. If Europe wants U.S. assistance, they must be transparent about existing agreements.

The Rubin Report

Press Gasps When Told Details of Trump Trade Deal They Said Was Impossible

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Dave Rubin opens the May 12, 2025 episode of the Rubin Report by discussing recent events, including his speaking engagement at the Biden School of Public Policy and the launch of a new podcast, Actual Friends, featuring friends from various backgrounds. He emphasizes positive developments in the world, such as improved trade deals with China and the UK, and the release of an American hostage from Gaza. Rubin highlights the significant changes in tariffs, noting that the tariff on Chinese goods has dropped from 145% to 30%, while the US tariff on Chinese goods has decreased from 125% to 10%. He also mentions a historic US-UK trade deal that will unlock $5 billion in export opportunities and reduce tariffs, asserting that these changes are beneficial for America. He critiques media responses to these developments, particularly from Fox News, and discusses the importance of fair trade agreements. Rubin argues that previous administrations failed to negotiate better deals, attributing the current successes to Donald Trump's assertive approach. The conversation shifts to international tensions, particularly between India and Pakistan, where Rubin notes that US mediation has led to a ceasefire. He also celebrates the return of Eden Alexander, the last American hostage held by Hamas, as a significant achievement. Rubin criticizes Democrats for their handling of immigration and crime, referencing incidents involving lawmakers breaking into ICE facilities and the lack of accountability for violent offenders. He expresses concern over the cultural decline in cities like Chicago and Philadelphia, pointing to rising crime rates and social unrest. The episode concludes with Rubin discussing the hypocrisy of progressive politicians, particularly regarding their environmental stances and personal behaviors. He emphasizes the need for a return to American values and unity, contrasting the positive developments he outlined earlier with the chaos and division he associates with the current Democratic leadership.

Breaking Points

Bill Maher Says He Was WRONG About Trump Tariffs

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Donald Trump announced a trade deal with the European Union, establishing a 15% flat tariff on goods, including pharmaceuticals, in exchange for a pledge of $600 billion in investments and natural gas purchases. However, the EU admitted it cannot enforce the investment commitment, as it relies on private companies. Critics argue that the deal lacks substance and that the promised gas purchases may not benefit U.S. suppliers due to supply limitations. Additionally, Trump's negotiations with China have led to a freeze on export controls for AI chips, raising concerns about national security.