Welcome to this week's podcast, where we dive into the ongoing political drama surrounding Donald Trump's second term. As the spring meetings of the IMF and World Bank brought financiers and journalists to Washington, the tension was palpable. Investors were anxious after Trump's announcement of hefty tariffs on China, but Treasury Secretary Scott Bessent hinted that a long-term trade war isn't sustainable. He suggested, “Eventually, we could make a deal,” although this remains unlikely, as talks aren't even happening yet.

Meanwhile, Trump was busy blaming the media for his own remarks about potentially firing Federal Reserve Chairman Jerome Powell, claiming, “The press runs away with things.” As the market fluctuated, significant contradictions surfaced between Trump's statements and those of his own officials.

Trump’s ambition for sweeping deals, from Russia to China, seems stalled. Promises for “big, beautiful deals” have yet to materialize, with talk of concessions to Russia and Ukraine sparking controversy. With low public approval ratings and the chaos of his administration under scrutiny, it's clear—the self-proclaimed “best dealmaker in the world” has his work cut out. As we wait to see if anything comes to fruition, one thing's for sure: Trump’s second term is proving just as tumultuous as the first. Stay tuned for more updates.
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