Steve Eisman, the investor immortalized in The Big Short, recently gave President Donald Trump a significant boost in the global tariff fight, claiming that if “reasonable heads prevail,” the president will get “what he wants.”
Eisman, who famously bet against subprime mortgages before the 2008 financial crisis, believes Trump can “get pretty much what he wants” from the ongoing tariff war because, in the end, the United States simply has more leverage than its trade partners.
“If reasonable heads prevail, Trump will get pretty much what he wants,” Eisman told CNBC on Tuesday.
“The US will suffer the least,” he explained, noting that exports only make up 11 percent of America’s GDP compared to 30 percent for the European Union and 35 percent for Canada and Mexico.
He continued: “If countries were rational, countries like Canada and Mexico would basically coming to the United States and beg – ‘We’ll do what you want’ – because of the 35%, Mexico and Canada have of their GDP from exports, 25 points of that 35 percent is just exports to the United States. Those countries hold no cards. Now, Europe is not much better, and so I think if everyone is rational, they’ll lower their barriers.”
“Now that doesn’t mean everybody’s rational,” he added. “There’s politics, some of the politicians might be afraid if we give in we’re going to lose our jobs, that’s the wild card.”
That kind of language is likely to rile critics—but for Trump allies, it’s a vindication of the White House’s aggressive trade posture, especially after the president announced plans to slap a massive 104 percent tariff on China and hinted at targeting pharmaceuticals next.
Eisman, portrayed by actor Steve Carell in the film adaption of The Big Short, also dismissed the panic of economic and media commentators.
“Everybody in the stock market went to college and had it drummed into their heads that trade wars are bad,” he said. “Now you’ve got a president… who doesn’t seem to accept that paradigm, and people find it jarring.”
Love him or hate him, Eisman said Trump is delivering exactly what he campaigned on: “You can agree with President Trump or you can disagree with him… he is one of the few politicians in my lifetime who does exactly what he says he’s going to do.”
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This comes as President Trump’s approval rating has risen to near-record levels, despite several days of outrage from Democrats, establishment Republicans, and mainstream media outlets over the president’s ambitious trade changes.
According to a new poll conducted by J.L. Partners in collaboration with the Daily Mail, which surveyed 1,000 registered voters from March 31 to April 3, Trump’s support rating increased even after sweeping tariffs were imposed on dozens of trading partners on April 2.
The study indicated that Trump’s approval rating increased to 53 percent, a four-point improvement from last week’s poll, when it was 49 percent. The Daily Mail termed the outcome as “surprising” considering the intense pressure and stock market crash that occurred on Thursday and Friday.
Trump’s favorability rating among voters aged 18 to 29 has improved by an amazing 13 points since March 7.
The study implies Trump is building on the tremendous support he earned from the group in the November presidential election, when voters aged 18 to 29 switched 10 points in Trump’s favor after heavily supporting Joe Biden in 2020.
The president’s support rating increased by six percentage points among registered Democrats and independents, according to the study. The president’s favorability among black voters has increased by 17 points since last week’s survey.
Nearly 100 days into his presidency, American employers and job board leaders have given Trump a very favorable report card, saying they believe the economy “can win now,” even though, as they note, it hasn’t “started to win yet.”
“I would give President Trump, right now, a pretty solid B+,” FIG Strategy & Consulting founder, author and Freedom Economy Index (FEI) respondent TaChelle Lawson told Fox News Digital.
“He came in with a very clear plan, and that was focusing on economics. He’s definitely putting business first, trimming the fat. That’s something that small business owners, business operators understand and respect. I think that it’s clear that his focus is on American business,” she added. “I do, however, think that the messaging could use a little bit of work.”
Lawson is one of over 50,000 small business owners who took part in the latest quarterly survey by RedBalloon and PublicSquare. The survey revealed that more than two-thirds of respondents now expect the economy to experience either “slow” or “robust” growth throughout the year—a complete turnaround from the previously negative outlook, Fox Business reported.