And today, Gary Cohn is one of the losers. He spent a year and a couple of months as the head of the National Economic Council, a free-trade Democrat in a populist Republican White House. He announced today he's leaving the White House. We'll talk about what it means and what's next for economic policy in the Trump administration. Then, keeping with that theme, what does Trump mean when he says we're "losing" on trade? That's not what a trade deficit means. Plus: The three richest American musicians all came from hip-hop. We'll talk about the "Three Kings," Dr. Dre, Jay Z and Diddy.
Now what? We're starting today's show trying to figure that out, with several stories on the new steel and aluminium tariffs Trump announced last week, if they'll actually protect American jobs, how other countries might respond and how trade policy is supposed to work (hint: not like this). Then: With another Oscars ceremony in the books, let's take stock of what Hollywood is actually making. It doesn't look much like last night's winning movies. Plus, what you need to know about the big chip merger that has people worried.
What do you say about a week where the president of the United States, without any indication that the decision had been thought through by policy experts, announces trade tariffs that leave basically every constituent part of the global economy going, "Wait, what?" Here, we call it Friday. We'll talk about President Donald Trump's steel and aluminum tariff announcement, his tweet about trade wars being "good and easy to win," and what Canada, our biggest importer of those metals, thinks about all this. Plus: The Oscars are this weekend, and it's one of the biggest moments yet for #MeToo. But let's turn our attention to another industry, finance, where women arrived at the workplace in the '80s and '90s to find terrible harassment.
In retrospect, we should have seen these steel and aluminum tariffs coming. Treasury Secretary Steven Mnuchin mentioned "reciprocal free trade," in our interview earlier this week, and President Donald Trump said something similar today. Tariffs are a complicated macro-economic topic anytime, especially when they're a surprise. We'll start the show by catching you up, then look at how our allies might or might not respond. Tariffs go both ways, you know. Plus: How many cup holders is too many?
There are a whole lot of threads to pull from the national conversation we're having about gun violence. President Donald Trump did one of those televised meetings with congressional leaders at the White House today. Dick's Sporting Goods said it'll stop selling assault-style rifles in its stores. But in some cases, the political and economic threads get crossed. Delta Airlines and the state of Georgia is one of those cases. The lieutenant governor and other politicians there are offering the airline a tax break to cut ties with the NRA. That's where we're starting today. Plus: A possible future for post-coal coal towns and Pizza Hut's new rule as the NFL's official slice.
Treasury Secretary Steve Mnuchin faced a boisterous crowd while in conversation with Kai on stage at the Burkle Center for International Relations at UCLA last night. We're bringing you that chat in two parts on today's show, and we cover a lot of ground: Russian sanctions, trade deals, Dodd-Frank and more. Plus: Student real estate is hot right now: investment nearly tripled from 2014 to 2016 and it's still going strong. We'll take a closer look. Plus: Whether you call it "chain migration" or "family reunification," the argument for reducing it goes like this: A single legal immigrant can quickly and easily bring in a nearly unlimited number of relatives, who then create a drain on the economy. But there's very little that's quick and easy about it.