Trump Sets Tariffs, Buffett Endorses, Dalio Warns

Nick Sasaki:

Good evening, everyone, and welcome to this very special edition of Imaginary Talks.

Today, we’re bringing together some of the most influential minds in economics, industry, finance, and policy—each with a unique perspective on one of the most significant shifts in U.S. economic strategy in recent decades: the resurgence of tariffs.

President Trump recently announced a sweeping new global tariff regime—a bold move that some have called overdue, others have called controversial, and one legendary investor called “the best economic decision in 50 years.”

This isn’t just about trade. This is about redefining the foundation of American prosperity—how we invest, where we manufacture, who we protect, and what we value as a nation.

Over the course of five interconnected conversations, we’ll examine:

• How tariffs are influencing long-term capital allocation
• Whether they’re restoring the promise of Main Street
• If globalization itself has gone too far
• Whether tariffs truly drive inflation or just disrupt old narratives
• And what “smart capital” looks like in this bold new era

Joining us are visionaries like Warren Buffett, Scott Bessent, Elon Musk, Jamie Dimon, Ray Dalio, and more—each bringing clarity, candor, and often, disagreement. And that’s the point.

Because in a world of complexity, we don’t need more slogans. We need serious thinking. And that’s what this space is for.

So wherever you're tuning in from—whether you're on Wall Street, Main Street, or somewhere in between—I invite you to lean in. Ask the deeper questions. And imagine what kind of economy we could build… if we dared to do things differently.

Let’s begin.

(Note: This is an imaginary conversation, a creative exploration of an idea, and not a real speech or event.) 

Long-Term Capital Allocation and Tariffs: Friend or Foe?

Moderator: Nick Sasaki
Guests: Warren Buffett, Charlie Munger, Scott Bessent, Jamie Dimon, Ray Dalio

Nick Sasaki (Moderator):
Good afternoon, everyone. I’m honored to be here with five of the most respected minds in finance and policy. Today, we begin our conversation with a topic at the heart of economic planning: Long-term capital allocation—and how tariffs, particularly President Trump’s newly proposed global tariff structure, are reshaping it.

Now, for nearly half a century, free trade has been considered a cornerstone of global economic progress. Yet, today, we're witnessing a dramatic shift. President Trump calls this move “transformational.” Some are calling it protectionism; others see it as a long-overdue correction.

Let me begin with you, Warren. You made headlines by saying that Trump’s tariff plan may be the “best economic move in 50 years.” Can you share what you meant by that?

Warren Buffett:
Thank you, Nick. What I meant is that for too long, we’ve operated under a system that seemed efficient on paper—outsourcing, offshoring—but it hollowed out large sections of the American economy. When entire towns lose their factories, you don't just lose jobs—you lose dignity, future productivity, even national cohesion.

Tariffs, in this context, aren’t just about tax revenue. They’re a signal. A revaluation of where value should be created. And if they push capital back toward U.S. manufacturing and innovation, then yes, I believe it may well be one of the most impactful economic adjustments in decades.

Nick Sasaki:
Fascinating. Now, Charlie, you've always had a clear-eyed view on economic incentives. From your perspective, do tariffs encourage better long-term capital behavior? Or do they simply add noise?

Charlie Munger:
Noise is everywhere, Nick. But this isn’t noise—it’s a directional bet. For years, capital chased the cheapest labor. That sounds smart until you realize you’ve made your own country less resilient, less productive.

I’m not fond of the word “tariff,” but I am fond of consequences. If consequences push capital toward productive enterprise inside our borders—where workers are paid fairly and businesses reinvest in communities—I’d call that a long-term win.

Nick Sasaki:
Thank you. Scott, as Treasury Secretary, you’ve said this is part of a larger plan to reindustrialize America. How do you believe tariffs will realign long-term capital strategy?

Scott Bessent:
That’s right, Nick. We’ve created a system where financial capital was doing well, but industrial capital was neglected. This is an effort to reverse that. We’re making it more attractive—through tariffs, deregulation, and targeted tax policies—for capital to flow into productive industries again: semiconductors, shipbuilding, medicine, green energy.

If we want economic security, capital has to be incentivized to build, not just speculate. Tariffs are not the sole solution, but they are a lever—one that hasn’t been pulled in a very long time.

Nick Sasaki:
Very well said. Now, Jamie, as the CEO of JPMorgan Chase, you've overseen capital movement across sectors and continents. Are you seeing a shift in where institutional money is looking now in light of these tariffs?

Jamie Dimon:
Yes, we’re seeing signals that the market is taking this seriously. Institutional investors are recalculating risk in regions like China and starting to look more closely at domestic industrial plays.

Now, I don’t think tariffs alone solve systemic issues. But if paired with sound fiscal policy and long-term infrastructure investment, they can redirect flows of capital. Still, predictability matters. Capital hates uncertainty. If the rules change every few years, capital will hesitate.

Nick Sasaki:
Which brings me to Ray—you’ve often talked about cycles and global capital flows. Do you see this moment as a structural turning point?

Ray Dalio:
Yes, Nick, I do. We’re in what I’d call a late-cycle environment—not just economically, but geopolitically. The U.S. is reassessing its dependency on global supply chains, and the world is fragmenting into new economic blocs.

What tariffs do—if used wisely—is force a recalibration of national self-sufficiency. From an investor standpoint, this means more opportunities in domestic infrastructure, energy, and automation. But it also raises the specter of inefficiency and tit-for-tat retaliation. The key will be strategic use—not blanket tariffs—but ones that reshape global flows without triggering disorder.

Nick Sasaki:
Thank you, Ray. Before we wrap this first segment, one final question for all of you—quick answers, please:

Do you believe tariffs, when applied with discipline, can create a more stable long-term investment environment in the United States?

• Warren Buffett: Absolutely—if paired with fiscal clarity.

• Charlie Munger: If they punish bad behavior and reward productivity—yes.

• Scott Bessent: We’re building the foundation for that stability now.

• Jamie Dimon: Yes—with consistent policy and communication.

• Ray Dalio: Yes—if they’re used as a scalpel, not a hammer.

Nick Sasaki:
Thank you, gentlemen. This has been an illuminating start. In our next segment, we’ll dive into Topic 2: The “Main Street First” Doctrine—and explore whether these policies are truly restoring the American Dream.

Stay tuned.

The “Main Street First” Doctrine — Are Tariffs Rebalancing the Economy?

Moderator: Nick Sasaki
Guests: Donald Trump, Warren Buffett, Scott Bessent, Peter Navarro, Elon Musk

Nick Sasaki (Moderator):
Welcome back to our continuing discussion on tariffs. In this segment, we’re turning our attention from Wall Street to Main Street—to the factories, family businesses, and working-class communities that have often been sidelined by global trade policies.

Our question is simple, but vital: Are tariffs actually working to restore balance and opportunity for the American worker?

Let me start with the man who introduced this tariff regime and has long championed Main Street — President Donald Trump. Mr. President, in your view, how do tariffs help the everyday American?

Donald Trump:
Well, thank you, Nick. Look, for 40 years, we've seen bad trade deals gut American towns. Tariffs are about bringing jobs home, period. They're about telling the American worker, "We're fighting for you now."

It’s not about theory—it’s about results. When we put tariffs on Chinese steel, we didn’t get a theory—we got steel plants reopening in Ohio and Pennsylvania. We told the world: you want access to our market? Bring your factory here. That’s fairness. That’s Main Street first.

Nick Sasaki:
Thank you, Mr. President. Warren, you’ve long said that the measure of a good economy isn’t just GDP or stock performance—it’s whether average citizens feel more secure. Are tariffs delivering that?

Warren Buffett:
They can, Nick. But only if they’re part of a broader commitment to investing in people. Tariffs alone aren’t a silver bullet—but when paired with workforce development, better education, and infrastructure—they help recreate the kind of America where a factory job could support a family.

The danger isn’t in tariffs themselves—it’s in forgetting to follow through. You can’t just stop at the policy—you have to build the ecosystem around it.

Nick Sasaki:
Scott, on the campaign trail, you’ve spoken about declining life expectancy and economic despair in the middle of the country. Do you believe these tariffs are the first step in reversing that?

Scott Bessent:
Yes, Nick, I do. We’ve had a “Wall Street first” system for decades. Meanwhile, the heartland’s been hollowed out—jobs lost, wages stagnant, young people leaving.

What we’re doing now is flipping the script. Tariffs realign incentives. They push investment back into places forgotten by globalization. If you rebuild supply chains here, you bring hope back. And I’ve seen it personally—steel towns with signs of life again. That’s not theoretical. That’s real.

Nick Sasaki:
Peter, you were one of the early architects of Trump’s trade strategy. What’s the strongest evidence, in your view, that tariffs are putting Main Street first?

Peter Navarro:
Easy. Look at the wage data under Trump’s first term. Working-class wages rose faster than executive salaries—something we hadn’t seen in decades. That wasn’t luck. That was a deliberate reversal of elite-first trade policies.

Tariffs forced companies to rethink offshoring. We saw jobs return—especially in manufacturing. And don’t forget: we’re not just creating jobs—we’re building leverage. Tariffs give America negotiating power. That power benefits Main Street.

Nick Sasaki:
Very direct, thank you. Elon, you’ve built gigafactories across the U.S.—from Texas to Nevada. As someone in the trenches of American industry, do you think the tariff strategy helps the kind of innovation you’re driving?

Elon Musk:
Yes and no. I’m supportive of reshoring. Building things in America is something I strongly believe in. But tariffs have to be smart. Blunt tools can backfire.

What I’d like to see is a system that not only penalizes offshoring but rewards advanced domestic manufacturing. Smart automation, clean energy production, semiconductor independence—that’s where America can lead.

If tariffs are a catalyst for that kind of investment? Then yes, they help Main Street. Especially if “Main Street” includes tomorrow’s industries—not just yesterday’s.

Nick Sasaki:
A key point—Main Street must include the future, not just the past.

Before we wrap, let me ask each of you to complete this sentence:

“Main Street will win if…”

• Donald Trump:
  If we stay strong and keep building American.

• Warren Buffett:
  If we combine tariffs with long-term investment in people.

• Scott Bessent:
  If we shrink government waste and grow industrial strength.

• Peter Navarro:
  If we keep fighting for fair trade, not free trade.

• Elon Musk:
  If we build faster, smarter, and cleaner—right here at home.

Nick Sasaki:
Thank you all. This was a powerful conversation. In our next session, we’ll tackle Topic 3: Global Trade vs. Economic Security—asking whether globalization itself has become a liability in today’s world.

Stay with us.

Global Trade vs. Economic Security — Where Should the Line Be Drawn?

Moderator: Nick Sasaki
Guests: Donald Trump, Scott Bessent, Ray Dalio, Niall Ferguson, Mary Barra

Nick Sasaki (Moderator):
Welcome back. In our third segment, we shift from domestic impact to the global stage. The central question today: Has globalization gone too far—and are we now in an era where economic security must take priority over free trade?

To start us off, I’d like to return to President Trump. Mr. President, you’ve said many times that economic security is national security. Could you unpack that in light of the new global tariff regime?

Donald Trump:
Absolutely, Nick. When COVID hit, we didn’t have masks, we didn’t have ventilators—we didn’t even make our own antibiotics. That was a wake-up call.

We gave up too much for cheap stuff. We lost control. We were dependent on nations that don't have our best interests at heart, especially China. Tariffs are how we fix that. If we don’t protect our supply chains, we're not just vulnerable economically—we're vulnerable militarily.

Nick Sasaki:
Thank you. Scott, you mentioned in a prior segment that the pandemic revealed structural weaknesses in supply chains. How does this tariff policy strengthen America’s resilience?

Scott Bessent:
Great question, Nick. What we learned in 2020 is that "just-in-time" can quickly become "never-on-time" in a crisis.

We were dangerously over-optimized. Now, we’re shifting toward strategic redundancy. That’s not inefficiency—that’s insurance.

Tariffs make it costly to offshore, and that cost forces companies to rethink. It leads to onshoring—especially in defense-critical sectors like semiconductors, energy, and pharmaceuticals.

It’s not just economic policy. It’s about not being caught off guard in the next crisis.

Nick Sasaki:
Ray, you've written extensively about shifting world orders. Where do tariffs fit into the new global chessboard?

Ray Dalio:
Nick, what we’re seeing is the fragmentation of the global order—economically, politically, and technologically.

Globalization worked in an era of cooperation. But now we’re entering an era of strategic decoupling—particularly between the U.S. and China. Tariffs, in this case, act as tools of economic diplomacy—and deterrence.

But we have to be very careful. If pushed too far, these tools can spark escalation. So the challenge is: how do you decouple without destabilizing?

Nick Sasaki:
Niall, as a historian, how do you interpret this current movement toward economic nationalism? Is this a return to 19th-century trade logic, or something more complex?

Niall Ferguson:
Excellent framing, Nick. I’d say we’re seeing the rise of what I call “geo-economics.” We're no longer just trading for efficiency—we’re trading with an eye toward alliances, vulnerabilities, and soft power.

Historically, empires that lost control of their economic lifelines didn’t last. Tariffs, in this sense, are part of a larger national strategy—not unlike Britain's use of maritime control or the U.S.’s Cold War industrial base.

It’s not about abandoning trade—it’s about selective entrenchment. Picking what must be domestic and what can remain global.

Nick Sasaki:
Thank you. Mary, as CEO of General Motors, your company has supply chains that stretch across the globe. How do you balance resilience and cost in this new environment?

Mary Barra:
It’s a balancing act, Nick. We’ve spent decades optimizing for cost, speed, and efficiency. But resilience has become just as important. Tariffs force a conversation we've been putting off: where do we build, and why?

For us, it means investing more in North America. Building EVs and batteries here. Yes, it’s more expensive short-term. But long-term, it’s a hedge against uncertainty—and it’s better for jobs, better for our brand.

Tariffs can be a jolt—but sometimes, a jolt is what’s needed.

Nick Sasaki:
A necessary jolt indeed.

Let me pose a final, rapid-fire question to each of you before we close:

“What is the one sector that must be rebuilt domestically—no exceptions?”

• Donald Trump: Pharmaceuticals. We need to make our own medicine again.

• Scott Bessent: Semiconductors. Chips are the new oil.

• Ray Dalio: Critical technologies—AI, quantum, and cybersecurity tools.

• Niall Ferguson: Energy infrastructure—strategic independence is key.

• Mary Barra: EV batteries and advanced manufacturing.

Nick Sasaki:
Thank you all. It’s clear that the world is changing—and America is rethinking its role not just as a market participant, but as a fortress of resilience.

Next, in Topic 4, we’ll confront one of the most debated claims: Do tariffs actually fuel inflation—or is that just another myth from the old playbook?

We’ll be joined by Warren Buffett, Jamie Dimon, Cathy Wood, Scott Bessent, and Peter Navarro.

Stay with us.

Tariffs and Inflation — Myth vs. Reality in Pricing Power

Moderator: Nick Sasaki
Guests: Warren Buffett, Scott Bessent, Jamie Dimon, Cathy Wood, Peter Navarro

Nick Sasaki (Moderator):
Welcome back. One of the biggest criticisms leveled at tariffs is that they raise prices for American consumers and businesses. Opponents argue that they act as a hidden tax, driving inflation, while proponents say the fears are overstated—and that short-term price bumps are worth the long-term gains.

So the central question today is this: Are tariffs truly inflationary—or is the narrative more complicated than we’ve been led to believe?

Let’s start with Warren Buffett. Warren, how do you think tariffs impact inflation in the long term? Are they as destructive as critics claim?

Warren Buffett:
Thanks, Nick. Inflation is complicated. It’s about supply, demand, monetary policy—and yes, sometimes external shocks like tariffs.

But in my view, the impact of tariffs on inflation is often exaggerated. What matters more is whether you’re creating productive capacity in your own country. If tariffs lead to long-term investment in domestic production, you may see short-term price adjustments—but over time, supply catches up, and inflation stabilizes.

The real inflation risk comes from printing money without creating value. Tariffs don’t do that.

Nick Sasaki:
Thank you, Warren. Scott, you’ve been working with the data. What are we actually seeing so far in terms of price impact from tariffs?

Scott Bessent:
It’s a great question, Nick—and one filled with misinformation.

There was a recent MIT study on Trump’s original China tariffs—about 20% average—and it showed consumer prices rose just 0.7%. In other words, most of the cost was absorbed by foreign producers or offset by currency adjustments.

So when critics say “tariffs = inflation,” they’re oversimplifying. We’re talking about one-time price adjustments, not structural inflation spirals.

Also, let me be clear: the worst inflation of recent memory didn’t come from tariffs—it came from massive COVID-era spending, supply bottlenecks, and energy shocks. Tariffs were a minor player, if at all.

Nick Sasaki:
Jamie, as someone who monitors both consumer sentiment and corporate margins, are you seeing inflationary pressure from tariffs? Or are companies absorbing more than expected?

Jamie Dimon:
We’re seeing a bit of both, Nick. In some cases, prices are passed on. But in many industries—particularly tech and apparel—margin pressure has been internalized.

What I find more interesting is how tariffs are forcing innovation. Companies are looking for ways to bring production closer, reduce dependency, and streamline logistics. That’s deflationary over time.

But as I’ve said before, policy consistency is key. If companies feel tariffs will come and go with every election cycle, they won’t invest. The worst inflationary pressure is uncertainty.

Nick Sasaki:
Cathy, you focus on innovation and disruption. Could tariffs actually accelerate deflationary trends through automation and reshoring?

Cathy Wood:
Yes, absolutely. When tariffs are applied strategically, they can act as a forcing function—compelling industries to evolve.

We’re seeing a rise in smart factories, AI-driven supply chains, and robotics—especially in countries reshoring production. These trends are inherently deflationary, not inflationary.

And here’s what’s exciting: this doesn’t just apply to traditional manufacturing. Even biotech, energy, and transportation are undergoing shifts toward domestic, tech-driven efficiency. So in the medium to long term, I believe tariffs, if structured well, can be neutral to deflationary, not inflationary.

Nick Sasaki:
Peter, you've been the most vocal defender of tariffs in the Trump administration. What do you say to critics who still argue they’re just a tax on American families?

Peter Navarro:
I say they’re dead wrong, Nick. The idea that tariffs are fully passed onto consumers is based on old, static economic models that don’t reflect today’s dynamic global pricing.

Most foreign producers lower their prices to maintain access to the U.S. market. Currencies adjust. Supply chains reroute. The real impact on the average consumer is negligible.

And let’s not forget—tariffs bring leverage. They force foreign governments to play fair, and they fund tax relief at home. You want to lower taxes on overtime or tips? Use tariff revenue. That’s not inflationary—that’s smart policy.

Nick Sasaki:
Let me now pose a final round-robin question:

“What’s one common myth about tariffs and inflation that needs to be debunked?”

• Warren Buffett:
  That tariffs are always bad for the consumer. That’s not supported by real data.

• Scott Bessent:
  That tariffs cause inflation. The numbers just don’t show it.

• Jamie Dimon:
  That businesses won’t adapt. They already are, rapidly.

• Cathy Wood:
  That reshoring means inefficiency. It often means automation—and lower costs.

• Peter Navarro:
  That American families are paying the full cost. That’s propaganda.

Nick Sasaki:
Thank you all. This was a powerful session—backed by evidence, not just opinion.

In our final topic, we’ll look at the road ahead: What does smart capital look like in the new tariff era? Should investors be thinking differently? Should America be investing differently?

Join us next for Topic 5: Investing in the Tariff Era — What Does Smart Capital Look Like Now?

Let’s close strong.

Investing in the Tariff Era — What Does Smart Capital Look Like Now?

Moderator: Nick Sasaki
Guests: Warren Buffett, Scott Bessent, Elon Musk, Cathy Wood, Marc Andreessen

Nick Sasaki (Moderator):
Welcome to our final segment in this landmark conversation on tariffs. We’ve explored policy, Main Street impact, global security, and inflation. Now we ask: Where should smart capital go in this new tariff-driven landscape?

Are we witnessing a new age of domestic opportunity? Or are investors still clinging to the old, globalized playbook?

To kick us off—Warren, you’ve often said your favorite holding period is “forever.” How should investors think about long-term capital in this new era?

Warren Buffett:
Thanks, Nick. For me, the fundamentals don’t change: buy into businesses you understand, with strong moats, solid leadership, and a clear future.

But the location of those businesses matters more now than it did 20 years ago. Tariffs are shifting the gravity of production and value creation back to the U.S. And that creates opportunities—in manufacturing, logistics, even energy.

Smart capital, in this era, might look a little less like Wall Street and a little more like Omaha. Steady, asset-backed, and grounded in the real economy.

Nick Sasaki:
Beautifully put. Scott, you’ve said we’re entering a new industrial era. What does the investment map look like now?

Scott Bessent:
Great question, Nick. I think we’re about to witness a multi-trillion-dollar reallocation of capital into sectors that used to be boring.

Factories. Ports. Railroads. Rare earth mining. Domestic pharmaceuticals. Smart energy grids. These aren’t just policy priorities—they’re investment priorities.

If you’re managing capital, the smart bet isn’t on speculative tech right now—it’s on mission-critical infrastructure, supported by tax policy, tariffs, and national momentum.

Nick Sasaki:
Elon, you’ve built some of the most advanced factories in the world—right here in the U.S. What sectors do you think are ripe for investment now?

Elon Musk:
There’s huge opportunity in AI-powered manufacturing. We’re talking smart factories that learn, self-optimize, and adapt in real time. These will power EVs, battery cells, satellites, space equipment—even home energy systems.

We also need to think about vertical integration again. That’s why we do our own battery production. Tariffs make it more viable now to bring those capabilities in-house.

If I had to summarize it: invest where resilience meets innovation.

Nick Sasaki:
Cathy, you’ve made bold calls before—often ahead of the curve. What does your innovation lens tell you about this era?

Cathy Wood:
I’m very optimistic, Nick. Tariffs are accelerating what we already believed: that the next wave of growth is local, automated, and intelligent.

I see opportunities in robotics, genomics manufacturing, decentralized logistics, and AI-led quality control. These aren’t just futuristic—they’re necessary in a more fragmented world.

We’re moving toward anti-fragile supply chains, and the companies enabling that—digitally or physically—will lead the next bull cycle.

Nick Sasaki:
And finally, Marc, your venture capital portfolio spans from social media to biotech. What’s your take? Where should capital go now?

Marc Andreessen:
Thanks, Nick. I think we’re entering a time when software will eat the global supply chain—in reverse.

Tariffs are forcing companies to localize, but you don’t build 20th-century factories—you build smart, modular, AI-integrated production ecosystems.

So capital should go into companies that enable digital twins, factory OS software, autonomous logistics, and secure data networks. It’s not “old vs. new.” It’s new applied to the old.

Smart capital looks like this: Hyperlocal. Highly automated. Digitally optimized. That’s the new investing frontier.

Nick Sasaki:
Powerful perspectives all around. Let me close this segment with a quick-fire challenge:

“In one word or phrase, what will define successful investing in the tariff era?”

• Warren Buffett: Patience with purpose.

• Scott Bessent: Resilience.

• Elon Musk: Automated production.

• Cathy Wood: Decentralized innovation.

• Marc Andreessen: Smart localization.

Nick Sasaki:
That concludes our five-part roundtable on the future of tariffs, trade, and the evolving landscape of global economics.

We’ve seen that tariffs aren’t just taxes—they’re signals. They’re catalysts. They’re shaping a world where investing isn’t just about growth—it’s about where and why growth happens.

To all our panelists—thank you for your brilliance, clarity, and conviction. And to our audience: The future isn’t offshore—it’s in motion, right here at home.

Stay curious, stay bold, and invest with purpose.

Final Thoughts by Nick Sasaki

As we close today’s extraordinary roundtable, I want to thank each of our distinguished guests—Warren Buffett, Scott Bessent, Elon Musk, Jamie Dimon, Ray Dalio, Cathy Wood, Peter Navarro, and others—for lending their time, intellect, and conviction to this important dialogue.

We’ve explored five dimensions of the new tariff era—from long-term capital strategy to the revival of Main Street, from geopolitical resilience to the myths of inflation, and finally to the redefinition of smart capital in a rapidly shifting world.

What we’ve uncovered is not a one-size-fits-all answer, but a deeper realization:

That tariffs are not just taxes.
They are turning points.
They are tools of realignment—meant to rebuild not just economies, but trust in the American promise.

This isn’t a return to the past—it’s a rebalancing of priorities. And if handled with foresight, discipline, and integrity, this moment could mark the beginning of a more grounded, more secure, and more equitable American economy.

It won’t be easy. Structural change never is. But as several of our guests have said today—the old system was breaking. Now, we have a chance to build something better.

On behalf of Imaginary Talks, thank you for being a part of this journey. Let’s continue to ask difficult questions, challenge our assumptions, and imagine boldly.

Until next time—stay thoughtful, stay curious, and stay committed to the future.

Short Bios:

Donald J. Trump
45th & 47th President of the United States, businessman, and architect of the new tariff strategy aimed at reshaping U.S. trade and manufacturing policy.

Warren Buffett
Chairman and CEO of Berkshire Hathaway, widely regarded as one of the greatest investors of all time with a long-term value investing approach.

Scott Bessent
Former Chief Investment Officer at Soros Fund Management and current U.S. Treasury Secretary in this conversation, known for his macroeconomic insight.

Charlie Munger
Vice Chairman of Berkshire Hathaway and longtime business partner to Warren Buffett, celebrated for his wit and wisdom in economics and human behavior.

Jamie Dimon
CEO of JPMorgan Chase, a leading voice in global finance with firsthand insight into banking, markets, and economic cycles.

Ray Dalio
Founder of Bridgewater Associates, one of the world’s largest hedge funds, known for his global macroeconomic analysis and principles-based approach.

Peter Navarro
Former White House trade advisor and strong advocate for economic nationalism, tariffs, and American industrial policy.

Elon Musk
CEO of Tesla, SpaceX, and multiple ventures in AI and manufacturing, focused on innovation, vertical integration, and domestic production.

Cathy Wood
Founder and CEO of ARK Invest, known for investing in disruptive innovation including AI, robotics, and advanced manufacturing.

Marc Andreessen
Co-founder of Andreessen Horowitz, venture capitalist, and pioneer of the internet era, now investing in software, automation, and decentralized systems.

Niall Ferguson
Historian and senior fellow at the Hoover Institution, renowned for his work on empire, economics, and the global implications of trade and conflict.

Mary Barra
Chair and CEO of General Motors, leading GM’s transition toward electric vehicles and American-based advanced manufacturing strategies.