Markets Rebound, Tariff Threat Forces Over 50 Nations to the Table
By Richard Luthmann with Michael Volpe
In early April 2025, President Donald Trump announced sweeping tariffs: a 10% baseline on all imports and a 145% levy on Chinese goods. This move, dubbed “Liberation Day,” aimed to pressure trade partners into negotiations.
The immediate market reaction was severe. The Dow Jones Industrial Average plunged over 4,000 points in two days, marking its worst performance since the 2020 pandemic-induced crash The move sent markets tumbling nearly 20% between April 7 and April 9.
But just as quickly, the storm settled. By April 10, over 50 countries were “racing to the table” for new trade deals, and the markets rebounded by nearly 4%.
PRESIDENT TRUMP WINS TRADE WAR IN TWO-DAYS: TRUMP’S GAMBLE PAYS OFF
“The Trump ‘recession’ lasted two days,” The Unknown Podcast host and journalist Richard Luthmann declared. “President Trump knew what he was doing from the start.”
Markets closed flat on April 9, even after China and the EU announced retaliatory tariffs. Trump’s bold strategy is already paying off, according to Luthmann, who believes the tariffs finally arm the U.S. in a trade war that’s been one-sided for decades.
“China’s been fighting a trade war against us for years,” Luthmann said. “We just weren’t acknowledging it. Now we are.”
Co-host Michael Volpe played skeptic. “Why are we hitting Canada and Australia? He made the USMCA deal himself.”
Luthmann replied bluntly: “It was a terrible deal. Trump’s telling the world the free ride is over.”
This time, Trump isn’t negotiating piecemeal. “He’s putting every country on notice,” Luthmann said. “No one wants to be the country he leaves out in the cold.”
Renowned Wall Street ‘Wise Guy’ John Tabacco agrees that President Trump’s economic strategy is a masterclass:
“Trump just toppled the Biden House of Cards. For over a year on Newsmax, I warned viewers that when Trump returned, the market would need a full bath. I urged people to stay in cash and stay nimble.
The Biden administration used every trick in the book to deceive Americans into thinking their portfolios were booming. It was a Ponzi scheme—rigged jobs reports, unmatched money printing, and open market ops to artificially prop up the Dow and S&P as cover for bad news.
They released 13 glowing unemployment reports—only to quietly revise them downward months later. Trump had to rinse the system and flush out all the toxic, artificial stimulus left behind.
I believed the Dow at 35,000 was the floor. And unless China does something insane, I still think the bottom is in.
It looks like Secretary Bessent is in charge now—and thank God for that.
The market just got a full colonic. Now it can reset and build on a real foundation.”
SUPREME COURT BACKS TRUMP ON MIGRANT DEPORTATION
On April 7, 2025, the U.S. Supreme Court, in a 5-4 decision, allowed the Trump administration to use the 1798 Alien Enemies Act to deport Venezuelan migrants alleged to be gang members . The Court stipulated that detainees must receive notice and the opportunity to challenge their removal in court. Legal challenges must be filed in Texas, where the detainees are held, rather than in Washington, D.C.
The administration targeted individuals associated with the Tren de Aragua gang, designated as a Foreign Terrorist Organization by the State Department in February 2025 . Critics argue that the use of the Alien Enemies Act, historically invoked during wartime, raises due process concerns. Justice Sonia Sotomayor, in her dissent, cautioned against circumventing constitutional protections.
Attorney General Pam Bondi and Homeland Security Secretary Kristi Noem have indicated plans to intensify efforts to locate and deport suspected gang members . The administration’s actions have sparked debates over the balance between national security and individual rights.
Luthmann called it “a huge victory” that exposes the left’s misreading of the law. “The statute allows the president to act during an invasion or predatory incursion,” he said. “That’s exactly what we’re seeing at the southern border.”
Volpe pushed back, pointing to the law’s text: “It applies to foreign nations or governments. A gang is neither.”
Luthmann countered, “Venezuela emptied its prisons and weaponized criminal gangs. These aren’t refugees—they’re state-sponsored missiles launched at our border.”
The legal debate centered around due process. The Court said migrants still have the right to file habeas corpus petitions. But Luthmann dismissed concerns over judicial oversight. “They’ll get an administrative judge at most,” he said. “This isn’t about criminal defendants—it’s about national defense.”
Volpe raised constitutional concerns. “They deserve a real hearing,” he argued. “The Court said they can challenge their detention.”
Luthmann fired back: “That doesn’t mean they get an Article III judge. It’s all posturing.”
MUSK TAKES A HIT—CYBERTRUCK SALES FLOP
Elon Musk, the world’s most erratic CEO, found himself under fire from Forbes this week. The Tesla Cybertruck—once hyped as revolutionary—was labeled “the auto industry’s biggest flop in decades.”
Tesla has encountered challenges amid the broader market instability. The company’s stock has experienced significant volatility, influenced by the administration’s tariff policies and global economic uncertainties .
The Tesla Cybertruck has faced criticism over its pricing and production delays. Originally projected to start at around $40,000, the vehicle’s base price now exceeds $79,990, leading to consumer dissatisfaction. Analysts have expressed concerns about Tesla’s ability to maintain its market position amid increasing competition and supply chain disruptions.
Volpe noted, “The truck sells for $82,000—nearly double what Musk promised. It’s also heavy, underwhelming, and Tesla’s sales and earnings are tanking.”
The stock reflects the trouble. Tesla’s P/E ratio sits at a nosebleed 113. For comparison, Meta is at 21 and Alphabet at 17.
Luthmann blamed politics. “This is a coordinated attack by the left to destroy Elon,” he said. “They hate him because he stumped for Trump.”
Volpe pushed back: “Tesla is a public company. Musk has duties to his shareholders.”
Luthmann responded, “He’s protected by the business judgment rule. Unless he’s embezzling, he’s safe.”
Volpe disagreed: “Shareholders own this company. Musk acts like he owns it alone.”
Luthmann shrugged: “If the shareholders don’t like it, they can vote him out.”
The feud between media, politics, and business continues to bruise Tesla. Luthmann, however, believes things will stabilize soon.
“He’s stepping back. The market will correct. The Cybertruck isn’t the problem—it’s the smear campaign,” Luthmann said.
IRAN DEAL ON THE HORIZON, UKRAINE STALEMATE CONTINUES
The podcast ended with a surprising geopolitical note: the U.S. may be close to brokering a deal with Iran. According to Luthmann, “After the Netanyahu meeting at the White House, Trump may be the only one who can sit down with Iran and bring peace.”
As for Ukraine? “They’re working on it,” Luthmann said. But Volpe noted it’s been over a month since the Ukrainian president agreed to a ceasefire, and nothing has moved.
Volpe also brought up Trump’s mixed messaging on tariffs. “He says it’s about bringing manufacturing back and also about cutting deals. Which is it?”
Luthmann said it’s both. “Trump’s playing chess. Everyone else is playing checkers.”
The April 9 segment was taped the same day markets bottomed out. By the time this article is published on April 12, the turnaround is clear. Trump’s tariffs caused panic, but only for 48 hours.
“He’s the only one who had the guts to do this,” Luthmann said. “And it’s working.”
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