Tariff On, Tariff Off: Trump vs. Europe, Apple Fines, and Trade Bluffs

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It’s a classic “tariff on, tariff off” moment. After threatening the EU with a 50% tariff on imports, Donald Trump is suddenly dialing it back—following a friendly call with European Commission President Ursula von der Leyen. But what’s really going on beneath the headlines?
In this episode:

• Trump’s threat of massive tariffs on EU goods—and the quick walk-back
• Why European regulators keep targeting U.S. tech (and why it matters)
• A deep dive into Apple’s $500 million EU fine under the new Digital Markets Act
• Why high-end manufacturing like Louis Vuitton or Gucci won’t be coming to America anytime soon
• The skills gap and labor shortage holding back reshoring efforts
• Why retaliatory tariffs may hurt more than help—and what smarter strategies could look like

Tariffs may make headlines—but they are much more complicated in practice!

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Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski tariffon
tiff Off.

Speaker 2 (00:17):
I can't get at mister Miagi out of my head
with this thing, tariff on teff Off. It's like Trump,
but it's Tariff's okay. European Union agreed to fast track
talks with the US to de escalate their trade spat.
This is after there was a phone call made. I

(00:38):
guess it was like a rom com right there. We
got a littleromantic comedy there going between Trump and Ursula there. Anyway,
they agreed to both fast tracked the negotiations and stay
in close contact. The announcement marks a return to friendly
relations between the President of the EU and President Trump
after Trump lashed out at the EU threatening to impose

(01:00):
fifty tariffs on European imports from June first. Trump expressed
frustration over slow moving talks, and I get it. I
understand why he's frustrated too, Okay, I do, I do.
I don't understand the tariff route, though I really don't. Again,

(01:22):
I've described this, you know, via in terms of that
colonel in Vietnam. We need to destroy the village in
order to save it. He look at it this way.
Louis Vaton. Louis Vauton opened up a factory in Texas.
They wanted to hire I think with some three thousand

(01:44):
plus workers this couple of years ago. They've got six hundred.
Why do they have six hundred? Can't find the workers?
This is a trade. Anybody ever watch how these things
are any high quality products are made. It's it's a

(02:08):
master collect Yeah. Give an example. Daniel day lewis the best,
in my opinion, one of the great actors of our time,
actually took a sabbatical for a period, took a sabbatical period,
didn't act, went to Italy and learned how to make shoes,
learn how to be a cobbler. They have Florence, have

(02:29):
Florentine shoemakers there where they you have to go for
a bunch of fittings for these shoes, obviously very high end.
We don't have a lot of those trades here in
the United States. Just don't. Just don't. With that being said, Okay,

(02:50):
you know, there's no way that they're going to be reshure.
There's no way Gucci bags are going to be made
here anytime soon. Just just not going to happen. Okay,
that's part of the get the past, the whole thing.
I want to buy an Italian shoes, I want a
time whatever it may be. Okay, they're not making them here.

(03:12):
With that being said, this is where Trump is not wrong.
The problem with Europe right now is the regulators. The regulators,
the European Commission, constantly fining and going after our tech companies.
Case in point, the latest five hundred million dollar fine
against Apple. It was levied under the new Digital Markets
at huge penalty. But that's not the point. Apple tried

(03:37):
to navigate this, tried to work with the regulators there,
but they were basically set up. That's the problem. It's
problem you're they're not. You take a look at the
startup money that actually goes to startups and venture capital
and Europe. It's dropping every single year by by a
great deal every single year. This this is the reality,

(04:04):
my friends. Okay, their economy is not doing well in
many respects, especially when it comes to the tech side
of things. And they look to punish American companies that
needs to be dealt with. I don't think fifty percent
tariffs is the way to go. There's probably maybe a
little strategy maybe go after some of their some of

(04:26):
the things that they're sending here, be a thorn in
their side if they're going to be a thorn in oys.
But the reality is that we just you know, cutting
off or fifty percent. I knew it wasn't going to happen.
I knew it was one of those mister Miyagi's tariffon
tariff off situations. Watch Dog on Wall Street dot com