Scott Galloway Slams Tariffs: ‘This Could Not Be More Stupid’

RUSH TRANSCRIPT Galloway nyu ░░░░░░░░ Host of the prof ░░░░░░░░ podcast and co host ░░░░░░░░ Kara Swisher of the ░░░░░░░░ podcast So Scott to ░░░░░░░░ president s tariffs make ░░░░░░░░ sense to you or ░░░░░░░░ more sense to you ░░░░░░░░ than they did before ░░░░░░░░ mean and what is ░░░░░░░░ end game here Do ░░░░░░░░ see this as a ░░░░░░░░ to some negotiation country ░░░░░░░░ country It would be ░░░░░░░░ to think of a ░░░░░░░░ elegant way to reduce ░░░░░░░░ globally than these levels ░░░░░░░░ tariffs These are more ░░░░░░░░ 10 x the levels ░░░░░░░░ tariffs in the first ░░░░░░░░ On a gross level ░░░░░░░░ re actually greater than ░░░░░░░░ than the tariffs levied ░░░░░░░░ smoot hawley That led ░░░░░░░░ into a depression where ░░░░░░░░ lost a third of ░░░░░░░░ GDP and unemployment was ░░░░░░░░ 25 if we re ░░░░░░░░ to alienate the largest ░░░░░░░░ partners in the world ░░░░░░░░ shove them into the ░░░░░░░░ or the arms of ░░░░░░░░ Japan South Korea and ░░░░░░░░ are having talks for ░░░░░░░░ first time in a ░░░░░░░░ If we re looking ░░░░░░░░ reduce our purchasing power ░░░░░░░░ prosperity take our markets ░░░░░░░░ This is literally the ░░░░░░░░ elegant way I could ░░░░░░░░ of doing this I ░░░░░░░░ to Anderson in graduate ░░░░░░░░ I was a graduate ░░░░░░░░ instructor in macro macroeconomics ░░░░░░░░ we used to talk ░░░░░░░░ tariffs The way I ░░░░░░░░ they talk about leeches ░░░░░░░░ medical school saying can ░░░░░░░░ believe they ever did ░░░░░░░░ So I don t ░░░░░░░░ what the endgame is ░░░░░░░░ other than somebody who ░░░░░░░░ he s a great ░░░░░░░░ and can go country ░░░░░░░░ country and figure out ░░░░░░░░ better deal But we ░░░░░░░░ lost so much credibility ░░░░░░░░ I think the the ░░░░░░░░ long term damage here ░░░░░░░░ really significant Beyond tariffs ░░░░░░░░ structural long term damage ░░░░░░░░ America s reputation to ░░░░░░░░ faith in our economic ░░░░░░░░ The reputation of America ░░░░░░░░ risk innovation ip great ░░░░░░░░ It also means consistency ░░░░░░░░ rule of law And ░░░░░░░░ the last literally the ░░░░░░░░ 10 weeks rule of ░░░░░░░░ has been thrown out ░░░░░░░░ window Whether it s ░░░░░░░░ court orders or having ░░░░░░░░ a used car sale ░░░░░░░░ the White House lawn ░░░░░░░░ appears we re no ░░░░░░░░ engaging or holding up ░░░░░░░░ of law And we ░░░░░░░░ totally inconsistent The tariffs ░░░░░░░░ on They re off ░░░░░░░░ re on they re ░░░░░░░░ Global trade has been ░░░░░░░░ enormous unlock for the ░░░░░░░░ S economy and our ░░░░░░░░ And anytime we take ░░░░░░░░ down we get especially ░░░░░░░░ This is the definition ░░░░░░░░ stupid is doing something ░░░░░░░░ hurts yourself while hurting ░░░░░░░░ This could not be ░░░░░░░░ stupid.