In episode 407 of the BE SMART podcast, Cameron and Jared discuss Donald Trump’s latest round of tariffs (25% on steel and aluminum) and whether a full-scale US trade war against the world will deliver a “stagflationary shock” to the US economy. Plus, predictions for stocks and gold, the tax code’s controversial treatment of the profits of private equity, venture capital, and hedge fund managers, and personal finance advice for listeners experiencing financial anxiety.