the gary cohn's the jamie diamond's. but what they also say is don't try and tell us black is white. don't try and tell us up is down. we know there will be an inflationary impact as a result of which which that will have to be managed. but this is classic jamie dimon. >> as you pointed out, they are at the top for a lot of folks that are not at the top, that cost of tariffs gets passed down to consumers. so there will be some pain. i wonder how other business leaders might have received what diamond was saying at the conference. >> all right, i don't know. the business leaders will have just said yep, yep, i signed. i think it's worth boris if we've just got one second to explain this idea. so the u.s. government, the trump administration tariffs my coat. for example, assuming i was buying a coat, the importer of this coat will pay the tariff to the u.s. government that will go into this fund. the external revenue service that donald trump is talking about. so that's the plus side, if you will, of the equation as seen f

but i spoke to gary cohn, who of course was the former director of donald trump's national economic council. and i asked him about this issue, particularly on the question of when tariffs come in. prices go up for consumers. >> at the end of the day, if you want a tariff, something that you manufacture in your country to protect your workers and protect your your gdp, i understand that. but if you're going to tariff something that you import that your citizens want and you're just going to raise the price on it, it becomes a consumption tax. i have had a hard time understanding this concept. >> so squaring that circle, because many people have a difficulty. on the one hand, you're going to have revenue coming into this new external revenue service. the importer exporter will pay it, but that's going to be passed on to the consumer. jake, you and me will eventually pay it because otherwise the profits will go from the from the business. >> you can pay it for me. richard, walk us through how these potential trump tariffs will impact everyday purchases for americans. >> all right. >> bring the

it's no coincidence that when gary cohn came in look at what that stock has done.the way i think that was the eye in sandy kennard's like swift trade a couple of years ago. last year all time high in ibm maybe a little extended. but this has been a great story. >> all right. coming up starbucks shares brewing up a nearly 2% two year high, i should say, as the coffee chain updates investors on its turnaround plan, the changes coming to the menu next and oaktree capital's armand pinajian helps us dig into the private credit market, where he's seeing the biggest opportunity in the space. do not go anywhere. fast money in miami go anywhere. fast money in miami is back in two. at ameriprise financial, we know our clients are so much more than clients. they're go-getters and game-changers, legacy-leavers and visionaries, healers and confidants. the goals that matter most to you matter most to us. helping you achieve them is what we do best. with personal financial advice from an advisor you can trust, and goal-based investing and solutions. it's no wonder we have a 4.9 o

so he needed mike pence and gary cohn and nikki haley and mattis and pompeo around him.nd if you were a foreign leader that didn't like what trump said, you had people you could engage with to try to stabilize the outcome. that's not true this time around. and we see that whether it's mark zuckerberg or whether it's the danish prime minister, when trump goes after you, remember he said zuck was going to be in prison, you know, so it would be investigated for all of his wrongdoings. he said, i'm going to take greenland. that makes great headlines. those things aren't going to happen. but there's no question that zuckerberg has changed his business model in a significant way. in the first weeks before even trump is president, because he sees what's coming, because he knows who won. and the same thing is true for allies of the united states around the world. so the rule of don has much, much greater impact on others that are not directly inside that circle of power and influence than it did back in 2017. casey. >> yeah. ian. briefly. big picture here. i think that there's a

catching up with gary cohn, andrew forrest, david rubenstein and antonio neri.conomic forum. you are watching bloomberg tv. ♪ >> the golden age of america begins now. today i will sign a series of historic executive orders. with these actions we will begin the complete restoration of america and the revolution of common sense. i will declare a national emergency at our southern border. the inflation caught -- crisis was caused with massive overspending and escalating energy prices. that is why today i will also declare a national energy emergency. my proudest legacy will be that of a peacemaker and unifier. >> this is bloomberg surveillance live from davos with jonathan ferro and lisa abramowicz. jonathan: the new president promising a golden age for the united states of america and we said this earlier. what we have had so far is a golden age of volatility in foreign exchange whipsawed by trade headlines. lisa: will they or won't they with tariffs? that has been a story for so many people. it is unabashedly that they will and they will make it good for us. that