Markets Are Getting More Used to Trump: Franklin CEO

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Transcript

00:00If you actually look at what he's been doing, he said he was going to do these things throughout the whole campaign, right?

00:06And so, you know, it's all about taxes, tariffs, deregulation, and, you know, government efficiency.

00:15So he'd gone out and said, OK.

00:18And you have to remember, in the U.S., you have about 18 months to actually get anything done as a president.

00:24Because chances are, and in particular, this midterm, chances are he's going to lose control of the House in this.

00:31And so he won't be able to pass legislation.

00:33So he got out and he said, OK, I'm going to—and immigration was the other.

00:37And he came right out.

00:39And on the tariffs, if you're going to get people to the table, and from what I understand,

00:44he genuinely believes post-World War II that the U.S. has been unfairly treated with respect to tariffs.

00:50And so he goes out and he says, OK, I've got to get people to the table so you come out hard.

00:54He said, you know, President Trump is a dealmaker.

00:57We know that.

00:58And that, of course, scared the market because the numbers and the statements were, you know, obviously shocking.

01:04And then, you know, as it's played out a bit, and you hear now Secretary Besant saying, hey, this is interactive, right?

01:12Tariffs go with the tax policy, and they go with deregulation.

01:16And so I think now that people have seen a couple of deals, frameworks done, you're seeing the tax legislation move forward,

01:23they're getting more comfortable with the story.

01:25And so you're getting back to, OK, this is a storm, but we'll get through the storm.