April 7, 2025 • 28 mins
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Trump's Approval Ratings: Despite the media's negative portrayal, Trump's job approval ratings rose during the tariff week, with significant increases among young voters, independents, Democrats, and black voters.
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Tariff Impact: The document argues that tariffs are working, with over fifty countries reaching out to negotiate with the US. Specific examples include Vietnam offering to cut tariffs on US goods to zero and Taiwan pledging to remove trade barriers.
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Economic Advisors' Views: Trump's economic advisors believe that the tariffs will not significantly affect US consumers and that the long-term trade deficit is due to other countries dumping goods into the US.
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Stock Market Reaction: The US stock market experienced a drop following the tariff announcements, but Trump's advisors urge investors not to panic and to hold their investments.
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International Negotiations: Countries like India and Vietnam are eager to negotiate with the US, and Vietnam has sent an emergency delegation to Washington, DC.
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Trump's Message: Trump encourages Americans to "hang tough" and trust his policies, believing that the tariffs will ultimately strengthen the US economy.
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Other Countries' Reactions: The document mentions Saudi Arabia's market drop and the ongoing negotiations with Russia regarding the invasion of Ukraine.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
Hang tough.
Speaker 2 (00:02):
That is the message from President Donald Trump calling on
Americans to ride out the tariff storm, and the American
people are sticking with Donald Trump. New poll numbers are
showing Trump's job approval didn't go down, didn't even stay even.
In fact, it rose during the tariff week. Another media fail.
(00:23):
Trump's job approval rises four points as he puts Americans
first to fifty three percent.
Speaker 1 (00:31):
If you were.
Speaker 2 (00:32):
Watching the mainstream media, it was armageddon. As Donald Trump said,
I'm going to stand up for American workers, bring back
American jobs, and I'm not flinching on tariffs with other
countries that are taking advantage of the US. This poll
that was taken with over one thousand registered voters between
March the thirty first and April the third, show that
(00:53):
Donald Trump's four point jump in job approval was not
the only rise since March. Trump's job approval from young
voters between the ages of eighteen and twenty nine has
jumped a staggering thirteen points, as many of them are
looking at jobs and manufacturing is a great opportunity for them.
Among independent and Democrats, Trump enjoyed a six point increase,
(01:19):
meaning that the Democratic talking points aren't even working on
their own party. Most telling, support from black voters jumped
a whopping seventeen points in a single week. Why because
they feel like the president is actually trying to get.
Speaker 1 (01:34):
Them a great job.
Speaker 2 (01:37):
Finally, more people's support than oppose Donald Trump's tariffs on
foreign countries by a margin of thirty nine percent support
to thirty seven percent. That oppose the complete opposite of
the story that was being told by those on the
left and in the media. Now with all of that,
(01:59):
you now knowing that the media is lying to you,
here's something else that they're not telling you, and that
is that the tariffs are actually working, bringing people.
Speaker 1 (02:09):
The table outside the White House.
Speaker 2 (02:12):
Giving an update on ABC this week, here is what
they said.
Speaker 3 (02:16):
I got a report from the USDR last night that
more than fifty countries have reached out to the President
to begin a negotiation. But they're doing that because they
understand that they bear a lot of the tariff. And
so I don't think that you're going to see a
big effect on the consumer in the US, because I
do think that the reason why we have a persistent
long run trade deficit is these people have very inelastic supply.
(02:37):
They've been dumping goods into the country in order to
create jobs, say in China.
Speaker 2 (02:41):
That coming from one of Trump's top economic advisors. So
what is actually happening with different countries? India and Vietnam,
for example, are making major moves and negotiations, in other words,
buckling and seeking a deal with President Trump on on tariffs.
As you heard there from the White House, more than
(03:03):
fifty countries have reached out to the White House to
begin those negotiations and his President Trump and his team
said early on those that show up first will probably
get the best deal, and those that hold out, it's
gonna hurt your economy more than ours. Now, let's talk
about what happened with Vietnam. In a major victory that
could even be announced sometime this week, Trump saying that
(03:26):
Vietnam is now offering to cut tariffs on America to.
Speaker 1 (03:31):
The number of zero.
Speaker 2 (03:34):
President Donald Trump announcing that Vietnam wants to drop the
tariff on US goods entirely if a deal can be
struck between the two countries. Trump revealed the major development
following a phone call with the General secretary of Vietnam's
Communist party, Tol Lom I. Just had a very productive
call with the General Secretary of the Communist Party of Vietnam.
(03:56):
Trump announced, who told me that Vietnam wants to cut
their tariffs down to zero if they're able to make
an agreement with the US. We also know the Vietnam
flew with an emergency delegation to Washington, DC, arrived on Friday,
and are staying for fourteen days to get the deal
done now. The call comes days after Trump announces sweeping
(04:18):
worldwide reciprocal and baseline tariffs, which included a hefty forty
six percent discounted reciprocal tariff on Vietnamese goods and ported
into America. The President saying quote, I thanked him on
behalf of our country, and I said I look forward
to a meeting in the near future. The reciprocal tariffs
(04:39):
Trump imposed on many countries will take effect after midnight
on April the ninth, this coming week, while the ten
percent baseline tariffs on other nations are set to take.
Speaker 1 (04:49):
Effect on Saturday.
Speaker 2 (04:52):
Nike stock, for example, plunged on Wednesday and into Thursday
following Trump's tariff announcement. The company has one hundred and
thirty factories in Vietnam and some four hundred and sixty
thousand workers. This is just one example of exactly why
Donald Trump is winning on the issue of tariffs.
Speaker 1 (05:10):
And it's not just Vietnam.
Speaker 2 (05:12):
There are also other countries that are running to sit
down with the President, including India. More than the fifty
countries that have reached out the White House to begin
their trade talks, and top economic advisors saying this on
Sunday that we believe this will be quote a sweeping
new set of tariffs that will be announced at new
(05:34):
and different levels because the companies that have come forward.
You look at places like India and they are eager
to sit down and work with the American people and
this government. Now, yes, the US stock market is tumbled
by around ten percent of the two days since Trump's
announce a new global tariff around the world. But what
(05:55):
we also know is that the President told the American
people hang tough, and based on the poll numbers, the
American people understand what Donald Trump is trying to do.
Speaker 1 (06:04):
They have faith in what he's doing.
Speaker 2 (06:06):
And they believe that the President has leverage to get
it done for the American worker and so that we're
not being taken advantage of any longer After more than
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dot org. Taiwan's president, by the way, on Sunday, offered
zero tariffs as the basis for talks with the US,
(07:36):
as well, pledging to remove trade barriers rather than imposing
reciprocal measures, and saying Taiwanese companies will raise their US
investments as well. Unlike other economists, Hassett said he did
not expect a big hit to consumers because exports were
likely to lower prices. He said to NBC News in
(07:57):
the White House he did not anticipate a recession based
on the tariffs, citing stronger than anticipated US job growth, saying, quote,
we could see from the job numbers on Friday that
was well above expectations that we are moving forward, So
I see no reason to have to worry about the
price moving US into a recession. Another example of Donald
(08:21):
Trump realizing that he has leverage in the world, understanding
he's not messing around is in Saudi Arabia, where the
markets were open on Sunday.
Speaker 1 (08:30):
What happened.
Speaker 2 (08:31):
They were down six point seven eight percent, the worst
daily loss since the COVID nineteen pandemic, according to state media.
Speaker 1 (08:39):
Larry Summers, formerly the director of.
Speaker 2 (08:41):
The National Economic Council under President Barack Obama, said this
there is a very good chance there's going to be
more turbulence in the markets. The way we saw on
Thursday and Friday. A drop like that following the announcement
of tariff signals that they're likely to be trouble ahead
and people ought to be very cautious. He wrote on
X Well, that's the doom and gloom they're trying to
(09:03):
sell you. What they're not telling you is there's a
good chance that even this week, there could be announcements
of movement and new deals made between the Trump administration
and several major trade partners. Pierre Navarro, Trump's tariff guru,
is pushed back against the mounting nervousness and insisted the investors, well,
(09:24):
you can move. You can't lose money unless you sell.
In other words, going back to the message from Trump,
and what did Donald Trump say?
Speaker 1 (09:32):
He said, I need you to quote hang in there. Now.
Speaker 2 (09:36):
Let's take a moment and just put into perspective when
you look at guys like Larry Summers, the former director
of the National Economic Council under Obama, he wants the
world to freak out.
Speaker 1 (09:48):
He wants you to turn on Trump, and he wants.
Speaker 2 (09:51):
You to say I'm leaving you and then give Republicans
on out in the House that are rhinos and squishy
to walk away from the President on tariffs. That's why
they're all doing this. Putting in perspective, look at Peter Navarro,
this is Trump's tariff guru. He is pushing back hard
(10:12):
against the quote mounting nervousness and insisted to investors that
you can't lose money unless you sell if you aren't
planning on using your money like right now that you
have in your investments, and just don't do anything, don't
sell it right now.
Speaker 1 (10:30):
Quote.
Speaker 2 (10:30):
The smart strategy is not to panic, just stay in
because we're going to have the biggest boom in the
stock market we've ever seen under the Trump policies. That
is what Navarro has become the public face of tariffs,
said on Fox News, Russia has not been targeted by
the latest raft of tariffs, and also has to say
(10:50):
that with Moscow over the invasion, the talks with Moscow
over the invasion of Ukraine as the main reason why
they've been left off the hit list so far. Again,
the President wants to end that war, saying, quote, there's
obviously an ongoing negotiation with Russia and Ukraine. And I
think the President made the decision not to conflate the
two issues. It doesn't mean that Russia, and the fullest
(11:12):
of time, is going to be treated wildly different than
every other country. The White House officials also suggest the
reason for Russia's a mission was because trade was negligible
thanks to all of the sanctions that we actually have
on Russia for their invasion of Ukraine. Now, Trump has
long insisted that countries around the world that sell products
(11:36):
to the US are in fact ripping Americans off, and
he sees tariffs says a mean to right that wrong.
This is clearly something where the President says, I'm digging
in and I'm going to dig in, and I need
you to understand why I'm digging in, and I need
you to hang with me. I need you to not panic.
(11:56):
I think most Americans trust the President. You look at
Vietnam offering to cut tariffs to tariffs on American goods
to zero, y'all.
Speaker 1 (12:06):
That's massive. That is just huge, the President.
Speaker 2 (12:12):
Saying to Vietnam, quote, I thanked him on behalf of
our country and said I look forward to a meeting
in the near future. Why do you say that, because
he says he understands like, you want to get a
deal done.
Speaker 1 (12:21):
Let's get a deal done. You want to do this,
Let's do this.
Speaker 2 (12:25):
There's also a lot of other companies that are, I'm
sure putting pressure on the nations where they manufacture to
get a deal done. I mentioned earlier Nike. What do
you think was happening in Nike's headquarters. Nike has one
hundred and thirty factories in Vietnam, almost a half million workers.
(12:46):
Nike's stock opened at fifty three to twenty two per
share on Friday. They saw a jump as high as
fifty eight to seventy three in the minutes after Trump's
true social announcement okay it was trading any were from
sixty three to sixty five in the days before a
sharp drop off during the present's announcement on Tuesday, which
(13:06):
he called Liberation Day. Why do their stock jump because
Donald Trump is may it clear, I'm not playing games.
If you come to the table, and you're one of
these countries and you come to the table, I'm.
Speaker 1 (13:17):
All in, let's get a deal done.
Speaker 2 (13:21):
Trump on Thursday morning, for example, likened to sweeping tear
plan to the country's trade imbalances, to quote a successful
surgery on the patient, saying this, the operation is over,
the patient lived and is healing. The prognosis is that
the patient will be far stronger, bigger, better, and more
(13:45):
resilient than ever before. Make America great again. That's what
he wrote, trying to give perspective to exactly what is
going on and what is happening now. I go back
to the media here and what they're saying. They want
you to be angry with Trump. They want you to
walk away, right like they they want you to walk away.
(14:08):
The President was asked on Air Force one earlier today
about all of this pain threshold in the market, because
there are people expecting the market's going to lose on
Monday and probably on Tuesday this week because of this.
What did the President say here? He is his own
words moments ago.
Speaker 4 (14:27):
You just want it should be they're in the market there,
even in the market at some point, you're unwilling to
tolerate this idea of a Trump.
Speaker 5 (14:36):
Put is there a threshold?
Speaker 4 (14:38):
I think your question is so stupid, but I mean,
I think it's a I don't want anything to go down,
but sometimes you have to take medicine to fix something
and we have such a horrible We have been treated
so badly by other countries because we had.
Speaker 5 (14:56):
Stupid leadership that allowed this to happen.
Speaker 4 (14:58):
They took our businesses, they took our money, they took
our jobs. They moved into Mexico, they moved it to Canada,
they moved a lot of it to China.
Speaker 5 (15:07):
And it's not sustainable. We're not going to do it now.
We have hundreds of billions of dollars is pouring into
our country on a monthly basis. It's pooring.
Speaker 4 (15:16):
It's already started because they put tariff's u and eventually
it's going to straighten out and our country would be
solid and strong again.
Speaker 5 (15:24):
Elon usks it.
Speaker 2 (15:26):
The President making it clear he's not wavering, he's not cracking.
Treasury Secretary also on TV, he said this about the
idea and the possibility of a recession.
Speaker 6 (15:40):
All right, let me ask you about one of the
big questions recession. As you know, analysts say the chances
of a recession are rising in the wake of the
tariffs announced this week. Do you believe that President Trump's
tariffs are risking the chances of a recession.
Speaker 7 (15:56):
I don't, and I think we could see from the
jobs number on writing that was well above expectations. That
we are moving forward, so I see no reason that
we have to price iner reception.
Speaker 6 (16:11):
Okay, before I let you go, I know you've been
one of the official spearheading the efforts to get President
Trump's budget bill passed on Capitol Hill. It includes the
President's plans for tax cuts, extending the twenty seventeen tax cuts.
For example, are you confident that the President's budget bill
will pass before the August recess?
Speaker 7 (16:33):
We are shooting for even a much earlier date. And
Chris and I, I can tell you the underreported story
in DC is it's fun from our side of the
aisle to watch the Democratic chaos. But the underreported story
is the Republican unity. And Speaker Johnson has done an
incredible job with a small minority. He got reconciliation instructions
(16:56):
out on the first try. He got a clean continuing
resolution Speaker Thoon, the Senate issued the reconciliation instructions, so
things are moving very quickly.
Speaker 6 (17:08):
Very quickly. President Trump called on the FED chair to
lower interest rates. Do you think that Fed chairs, your
own power, should lower interest rates?
Speaker 7 (17:16):
I think that when we see inflation dropping that the
Fed will do what as always does and lower rates.
But in the meantime, what we can control is the
longer term rate, the tenure rate, which hit a new
low on Friday. That's where mortgages are priced. That's where
long term capital formation is priced. And you back to
(17:39):
the tax the deal. When we can pass that, we
will have economic certainty.
Speaker 2 (17:46):
Okay, you can hear the Treasury secretary there there's no
reason to markets to price in a recession. You look
at the data and everything that President Trump's doing right
now seems to be spot on. While we may have
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two Patriot. There are a lot of people that have said,
how did Donald Trump get the idea to do what
he's doing with tariffs and the American First policy. There
are many that are acting like this is a chaotic plan,
(20:33):
a dysfunctional plan, a plan that is radical or extreme
that should never have happened, and it happened on.
Speaker 1 (20:40):
A whim from Donald Trump.
Speaker 2 (20:43):
There isn't a bigger lie than that coming out of
the conversation with tariffs. How do we know that this
is a belief that Donald Trump has had for quite
some time. Well, you can look back to nineteen eighty eight.
President Donald Trump was on the Oprah Winfrey Show talking
about countries ripping America off in the trade war. She
(21:07):
also asked him about running for office, and he said
something else that was obviously very clear. He said he
didn't think he was going to run for office unless
things got really, really, really bad. Those two things came
to fruition. And this is all the way back in
(21:28):
nineteen eighty eight. So if you think Donald Trump is
messing around, he's not. He's believed it and been planning
it for more than thirty years.
Speaker 8 (21:38):
Last year criticizing US foreign policy, what would you do differently.
Speaker 9 (21:41):
Donald, I'd make our allies forgetting about the enemies, the
enemies you can't talk to so easily. I'd make our
allies pay their fair share. We're a debtor nation. Something's
going to happen over the next number of years with
this country because you can't keep going on losing two
hundred billion, and yet we let your pan come in
and dump everything right into our markets and everything. It's
not free trade. If you ever go to Japan right
now and try to sell something, forget about it. Open,
(22:03):
just forget about it. It's almost impossible. They don't have
laws against it, they just make it impossible. They come
over here, they sell their cars, they're VCRs. They knock
the hell out of our companies. And hey, I have
tremendous respect for the Japanese people. I mean, you can
respect somebody that's beating the hell out of you, But
they are beating the hell out of this country Kuwait.
They live like kings. The poorest person in Kuwait they
live like kings. And yet they're not paying. We make
(22:25):
it possible for them to sell their oil. Why aren't
they paying us twenty five percent of what they're making.
It's a joke.
Speaker 8 (22:31):
This sounds like political presidential talk to me. And I
know people have talked to you about whether or not
you want to run.
Speaker 1 (22:36):
Would you ever?
Speaker 9 (22:38):
Probably not? But I do get tired of seeing the
country ripple.
Speaker 1 (22:41):
Why would you not?
Speaker 9 (22:42):
I just don't think I really have the inclination to
do it. I love what I'm doing, I really like.
Speaker 8 (22:47):
It also doesn't pay as well, but you know.
Speaker 9 (22:52):
I just probably wouldn't do it. I probably wouldn't, but
I do get tired of seeing what's happening with this country.
And if it got so bad, I would never want
to rule it out totally because I really am tired
of seeing what's happening with this country, how we're really
making other people live like kings and we're not.
Speaker 8 (23:07):
What do you think of this year's presidential race the
way it's shaping.
Speaker 9 (23:10):
Up, Well, it's going to be very interesting. I think
that probably George Bush has an advantage in terms of
the election. I think that probably people would say that
he's got like that little edge in terms of the incumbency,
et cetera, et cetera. But I think Jesse Jackson's done
himself very proud. I think Michael Ducacus has done one
hell of a job, and George Bush has done a
hell of a job. You know, they all went in
(23:30):
there sort of a semi underdogs, including George Bush, and
they've all come out. I think people that are around
all three of those candidates can be very proud of
the jobs they've done.
Speaker 2 (23:39):
You listen to Donald Trump then, and there's a couple
of things there that are very consistent. He said, our
allies are ripping us off. They're ripping Americans off in trade,
and we start there. He also said it's a little
bit tougher with our adversaries. Great example of that is
(24:00):
what he's dealing with with Russia right now. There are
many in the press trying to attack Donald Trump for
not putting major sanctions on Russia. Well, he says he's
trying to stop a war between Russia and Ukraine. Why
complicate things and make things worse by throwing tariffs on them?
But there's also a second point that the media is
(24:21):
omitting from the facts.
Speaker 1 (24:23):
There's not a lot to put tariffs on because we have.
Speaker 2 (24:26):
So many sanctions right now on Russia already. So it's
almost like there is in fact they said of tariffs,
there are tariffs of we're not doing anything with you,
And yet the media is trying to act like there's
some sort of Russia collusion three point zero or four
point zero or five point zero when it comes to Russia.
(24:47):
This is how they're going to continue to attack Donald Trump.
At the end of the day, this is a plan
that Donald Trump made clear back in nineteen eighty eight.
Speaker 1 (24:57):
Is something he believed in.
Speaker 2 (24:59):
He understands leverage, and that's why there's fifty plus countries
waiting in line to work a deal with Donald J. Trump,
the President of the United States of America. I also
want to go back to something else that I mentioned earlier,
and that is when Donald Trump was talking about tariffs,
(25:21):
he also said this is a way for America to
get out of debt. Donald Trump on Air Force one
saying this about tariffs and how much money the US
will make off of these tariffs.
Speaker 1 (25:32):
Listen, I've improven of this.
Speaker 5 (25:35):
You talk to a lot of leaders this weekend. Can
you tell us her were there any deals made.
Speaker 4 (25:40):
I spoke to a lot of leaders European, Asian from
all over the world and dying to make a deal.
But I said, We're not gonna have deficits with your country.
We're not gonna do that because to me, a deficit
is a loss. We're gonna have surpluses or were at
worst gonna be breaking even. But China would be the
(26:01):
worst in the group because the deficit is so big
and it's not sustainable.
Speaker 5 (26:08):
And you know, I was elected on this.
Speaker 4 (26:11):
This was one of the biggest reasons I got elected
was exactly because of this. And we're gonna put tariffs,
and we've already put them on. It's not a question
that we will. We're gonna put them on. And those
tariffs next year will make US one trillion dollars. In
addition to the one trillion dollars, thousands of companies are
(26:32):
going to relocate back into the United States and North
Carolina already.
Speaker 5 (26:37):
Furniture people are starting to move back in.
Speaker 4 (26:40):
Detroit and Michigan, which I won because of what I said.
What I'm telling you, car companies are starting to open
up and Indiana a big one is under construction.
Speaker 5 (26:51):
As an example, Honda. But they're moving in like nobody
has ever seen this before.
Speaker 4 (26:59):
So it's unsustainable for us to allow China to have
surpluses of a trillion dollars if we will be taking
in over at trillion dollars over the next short period
of time.
Speaker 5 (27:12):
With the tariffs that I've already instituted, they're already in place.
Speaker 4 (27:17):
Now, what's gonna happen with the market, I can't tell you,
but I can tell you how our country has gotten
a lot stronger, and eventually it'll be a country like
no other. It'll be the most dominant country economically in
the world.
Speaker 5 (27:31):
Just what it should be. There market here.
Speaker 2 (27:36):
You listen to the media and you hear how they're talking,
and you hear the president. He's very calm. He has
a plan. Trump was asked about the tech leaders, for example,
are they freaking out? What do they say to you?
Like they're trying to find some sort of war somewhere.
It's not happening.
Speaker 1 (27:54):
There is no war.
Speaker 2 (27:56):
Donald Trump's communicating with everybody openly to bend for guson show.
Much more coming up. Make sure, by the way, that
you share this podcast with your family and friends. Hit
that little forward arrow and text it or put it
on social media while the media does everything you can
to try to shut you down, silence us, and make
(28:16):
sure no one knows what's really happening. Also, hit that
auto download or subscribe button so you get this podcast
each and.
Speaker 1 (28:23):
Every day for free. And I'll see you back here tomorrow.
Hang tough.
Speaker 2 (00:02):
That is the message from President Donald Trump calling on
Americans to ride out the tariff storm, and the American
people are sticking with Donald Trump. New poll numbers are
showing Trump's job approval didn't go down, didn't even stay even.
In fact, it rose during the tariff week. Another media fail.
(00:23):
Trump's job approval rises four points as he puts Americans
first to fifty three percent.
Speaker 1 (00:31):
If you were.
Speaker 2 (00:32):
Watching the mainstream media, it was armageddon. As Donald Trump said,
I'm going to stand up for American workers, bring back
American jobs, and I'm not flinching on tariffs with other
countries that are taking advantage of the US. This poll
that was taken with over one thousand registered voters between
March the thirty first and April the third, show that
(00:53):
Donald Trump's four point jump in job approval was not
the only rise since March. Trump's job approval from young
voters between the ages of eighteen and twenty nine has
jumped a staggering thirteen points, as many of them are
looking at jobs and manufacturing is a great opportunity for them.
Among independent and Democrats, Trump enjoyed a six point increase,
(01:19):
meaning that the Democratic talking points aren't even working on
their own party. Most telling, support from black voters jumped
a whopping seventeen points in a single week. Why because
they feel like the president is actually trying to get.
Speaker 1 (01:34):
Them a great job.
Speaker 2 (01:37):
Finally, more people's support than oppose Donald Trump's tariffs on
foreign countries by a margin of thirty nine percent support
to thirty seven percent. That oppose the complete opposite of
the story that was being told by those on the
left and in the media. Now with all of that,
(01:59):
you now knowing that the media is lying to you,
here's something else that they're not telling you, and that
is that the tariffs are actually working, bringing people.
Speaker 1 (02:09):
The table outside the White House.
Speaker 2 (02:12):
Giving an update on ABC this week, here is what
they said.
Speaker 3 (02:16):
I got a report from the USDR last night that
more than fifty countries have reached out to the President
to begin a negotiation. But they're doing that because they
understand that they bear a lot of the tariff. And
so I don't think that you're going to see a
big effect on the consumer in the US, because I
do think that the reason why we have a persistent
long run trade deficit is these people have very inelastic supply.
(02:37):
They've been dumping goods into the country in order to
create jobs, say in China.
Speaker 2 (02:41):
That coming from one of Trump's top economic advisors. So
what is actually happening with different countries? India and Vietnam,
for example, are making major moves and negotiations, in other words,
buckling and seeking a deal with President Trump on on tariffs.
As you heard there from the White House, more than
(03:03):
fifty countries have reached out to the White House to
begin those negotiations and his President Trump and his team
said early on those that show up first will probably
get the best deal, and those that hold out, it's
gonna hurt your economy more than ours. Now, let's talk
about what happened with Vietnam. In a major victory that
could even be announced sometime this week, Trump saying that
(03:26):
Vietnam is now offering to cut tariffs on America to.
Speaker 1 (03:31):
The number of zero.
Speaker 2 (03:34):
President Donald Trump announcing that Vietnam wants to drop the
tariff on US goods entirely if a deal can be
struck between the two countries. Trump revealed the major development
following a phone call with the General secretary of Vietnam's
Communist party, Tol Lom I. Just had a very productive
call with the General Secretary of the Communist Party of Vietnam.
(03:56):
Trump announced, who told me that Vietnam wants to cut
their tariffs down to zero if they're able to make
an agreement with the US. We also know the Vietnam
flew with an emergency delegation to Washington, DC, arrived on Friday,
and are staying for fourteen days to get the deal
done now. The call comes days after Trump announces sweeping
(04:18):
worldwide reciprocal and baseline tariffs, which included a hefty forty
six percent discounted reciprocal tariff on Vietnamese goods and ported
into America. The President saying quote, I thanked him on
behalf of our country, and I said I look forward
to a meeting in the near future. The reciprocal tariffs
(04:39):
Trump imposed on many countries will take effect after midnight
on April the ninth, this coming week, while the ten
percent baseline tariffs on other nations are set to take.
Speaker 1 (04:49):
Effect on Saturday.
Speaker 2 (04:52):
Nike stock, for example, plunged on Wednesday and into Thursday
following Trump's tariff announcement. The company has one hundred and
thirty factories in Vietnam and some four hundred and sixty
thousand workers. This is just one example of exactly why
Donald Trump is winning on the issue of tariffs.
Speaker 1 (05:10):
And it's not just Vietnam.
Speaker 2 (05:12):
There are also other countries that are running to sit
down with the President, including India. More than the fifty
countries that have reached out the White House to begin
their trade talks, and top economic advisors saying this on
Sunday that we believe this will be quote a sweeping
new set of tariffs that will be announced at new
(05:34):
and different levels because the companies that have come forward.
You look at places like India and they are eager
to sit down and work with the American people and
this government. Now, yes, the US stock market is tumbled
by around ten percent of the two days since Trump's
announce a new global tariff around the world. But what
(05:55):
we also know is that the President told the American
people hang tough, and based on the poll numbers, the
American people understand what Donald Trump is trying to do.
Speaker 1 (06:04):
They have faith in what he's doing.
Speaker 2 (06:06):
And they believe that the President has leverage to get
it done for the American worker and so that we're
not being taken advantage of any longer After more than
a year of war, tear and pain in Israel, the
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dot org. Taiwan's president, by the way, on Sunday, offered
zero tariffs as the basis for talks with the US,
(07:36):
as well, pledging to remove trade barriers rather than imposing
reciprocal measures, and saying Taiwanese companies will raise their US
investments as well. Unlike other economists, Hassett said he did
not expect a big hit to consumers because exports were
likely to lower prices. He said to NBC News in
(07:57):
the White House he did not anticipate a recession based
on the tariffs, citing stronger than anticipated US job growth, saying, quote,
we could see from the job numbers on Friday that
was well above expectations that we are moving forward, So
I see no reason to have to worry about the
price moving US into a recession. Another example of Donald
(08:21):
Trump realizing that he has leverage in the world, understanding
he's not messing around is in Saudi Arabia, where the
markets were open on Sunday.
Speaker 1 (08:30):
What happened.
Speaker 2 (08:31):
They were down six point seven eight percent, the worst
daily loss since the COVID nineteen pandemic, according to state media.
Speaker 1 (08:39):
Larry Summers, formerly the director of.
Speaker 2 (08:41):
The National Economic Council under President Barack Obama, said this
there is a very good chance there's going to be
more turbulence in the markets. The way we saw on
Thursday and Friday. A drop like that following the announcement
of tariff signals that they're likely to be trouble ahead
and people ought to be very cautious. He wrote on
X Well, that's the doom and gloom they're trying to
(09:03):
sell you. What they're not telling you is there's a
good chance that even this week, there could be announcements
of movement and new deals made between the Trump administration
and several major trade partners. Pierre Navarro, Trump's tariff guru,
is pushed back against the mounting nervousness and insisted the investors, well,
(09:24):
you can move. You can't lose money unless you sell.
In other words, going back to the message from Trump,
and what did Donald Trump say?
Speaker 1 (09:32):
He said, I need you to quote hang in there. Now.
Speaker 2 (09:36):
Let's take a moment and just put into perspective when
you look at guys like Larry Summers, the former director
of the National Economic Council under Obama, he wants the
world to freak out.
Speaker 1 (09:48):
He wants you to turn on Trump, and he wants.
Speaker 2 (09:51):
You to say I'm leaving you and then give Republicans
on out in the House that are rhinos and squishy
to walk away from the President on tariffs. That's why
they're all doing this. Putting in perspective, look at Peter Navarro,
this is Trump's tariff guru. He is pushing back hard
(10:12):
against the quote mounting nervousness and insisted to investors that
you can't lose money unless you sell if you aren't
planning on using your money like right now that you
have in your investments, and just don't do anything, don't
sell it right now.
Speaker 1 (10:30):
Quote.
Speaker 2 (10:30):
The smart strategy is not to panic, just stay in
because we're going to have the biggest boom in the
stock market we've ever seen under the Trump policies. That
is what Navarro has become the public face of tariffs,
said on Fox News, Russia has not been targeted by
the latest raft of tariffs, and also has to say
(10:50):
that with Moscow over the invasion, the talks with Moscow
over the invasion of Ukraine as the main reason why
they've been left off the hit list so far. Again,
the President wants to end that war, saying, quote, there's
obviously an ongoing negotiation with Russia and Ukraine. And I
think the President made the decision not to conflate the
two issues. It doesn't mean that Russia, and the fullest
(11:12):
of time, is going to be treated wildly different than
every other country. The White House officials also suggest the
reason for Russia's a mission was because trade was negligible
thanks to all of the sanctions that we actually have
on Russia for their invasion of Ukraine. Now, Trump has
long insisted that countries around the world that sell products
(11:36):
to the US are in fact ripping Americans off, and
he sees tariffs says a mean to right that wrong.
This is clearly something where the President says, I'm digging
in and I'm going to dig in, and I need
you to understand why I'm digging in, and I need
you to hang with me. I need you to not panic.
(11:56):
I think most Americans trust the President. You look at
Vietnam offering to cut tariffs to tariffs on American goods
to zero, y'all.
Speaker 1 (12:06):
That's massive. That is just huge, the President.
Speaker 2 (12:12):
Saying to Vietnam, quote, I thanked him on behalf of
our country and said I look forward to a meeting
in the near future. Why do you say that, because
he says he understands like, you want to get a
deal done.
Speaker 1 (12:21):
Let's get a deal done. You want to do this,
Let's do this.
Speaker 2 (12:25):
There's also a lot of other companies that are, I'm
sure putting pressure on the nations where they manufacture to
get a deal done. I mentioned earlier Nike. What do
you think was happening in Nike's headquarters. Nike has one
hundred and thirty factories in Vietnam, almost a half million workers.
(12:46):
Nike's stock opened at fifty three to twenty two per
share on Friday. They saw a jump as high as
fifty eight to seventy three in the minutes after Trump's
true social announcement okay it was trading any were from
sixty three to sixty five in the days before a
sharp drop off during the present's announcement on Tuesday, which
(13:06):
he called Liberation Day. Why do their stock jump because
Donald Trump is may it clear, I'm not playing games.
If you come to the table, and you're one of
these countries and you come to the table, I'm.
Speaker 1 (13:17):
All in, let's get a deal done.
Speaker 2 (13:21):
Trump on Thursday morning, for example, likened to sweeping tear
plan to the country's trade imbalances, to quote a successful
surgery on the patient, saying this, the operation is over,
the patient lived and is healing. The prognosis is that
the patient will be far stronger, bigger, better, and more
(13:45):
resilient than ever before. Make America great again. That's what
he wrote, trying to give perspective to exactly what is
going on and what is happening now. I go back
to the media here and what they're saying. They want
you to be angry with Trump. They want you to
walk away, right like they they want you to walk away.
(14:08):
The President was asked on Air Force one earlier today
about all of this pain threshold in the market, because
there are people expecting the market's going to lose on
Monday and probably on Tuesday this week because of this.
What did the President say here? He is his own
words moments ago.
Speaker 4 (14:27):
You just want it should be they're in the market there,
even in the market at some point, you're unwilling to
tolerate this idea of a Trump.
Speaker 5 (14:36):
Put is there a threshold?
Speaker 4 (14:38):
I think your question is so stupid, but I mean,
I think it's a I don't want anything to go down,
but sometimes you have to take medicine to fix something
and we have such a horrible We have been treated
so badly by other countries because we had.
Speaker 5 (14:56):
Stupid leadership that allowed this to happen.
Speaker 4 (14:58):
They took our businesses, they took our money, they took
our jobs. They moved into Mexico, they moved it to Canada,
they moved a lot of it to China.
Speaker 5 (15:07):
And it's not sustainable. We're not going to do it now.
We have hundreds of billions of dollars is pouring into
our country on a monthly basis. It's pooring.
Speaker 4 (15:16):
It's already started because they put tariff's u and eventually
it's going to straighten out and our country would be
solid and strong again.
Speaker 5 (15:24):
Elon usks it.
Speaker 2 (15:26):
The President making it clear he's not wavering, he's not cracking.
Treasury Secretary also on TV, he said this about the
idea and the possibility of a recession.
Speaker 6 (15:40):
All right, let me ask you about one of the
big questions recession. As you know, analysts say the chances
of a recession are rising in the wake of the
tariffs announced this week. Do you believe that President Trump's
tariffs are risking the chances of a recession.
Speaker 7 (15:56):
I don't, and I think we could see from the
jobs number on writing that was well above expectations. That
we are moving forward, so I see no reason that
we have to price iner reception.
Speaker 6 (16:11):
Okay, before I let you go, I know you've been
one of the official spearheading the efforts to get President
Trump's budget bill passed on Capitol Hill. It includes the
President's plans for tax cuts, extending the twenty seventeen tax cuts.
For example, are you confident that the President's budget bill
will pass before the August recess?
Speaker 7 (16:33):
We are shooting for even a much earlier date. And
Chris and I, I can tell you the underreported story
in DC is it's fun from our side of the
aisle to watch the Democratic chaos. But the underreported story
is the Republican unity. And Speaker Johnson has done an
incredible job with a small minority. He got reconciliation instructions
(16:56):
out on the first try. He got a clean continuing
resolution Speaker Thoon, the Senate issued the reconciliation instructions, so
things are moving very quickly.
Speaker 6 (17:08):
Very quickly. President Trump called on the FED chair to
lower interest rates. Do you think that Fed chairs, your
own power, should lower interest rates?
Speaker 7 (17:16):
I think that when we see inflation dropping that the
Fed will do what as always does and lower rates.
But in the meantime, what we can control is the
longer term rate, the tenure rate, which hit a new
low on Friday. That's where mortgages are priced. That's where
long term capital formation is priced. And you back to
(17:39):
the tax the deal. When we can pass that, we
will have economic certainty.
Speaker 2 (17:46):
Okay, you can hear the Treasury secretary there there's no
reason to markets to price in a recession. You look
at the data and everything that President Trump's doing right
now seems to be spot on. While we may have
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two Patriot. There are a lot of people that have said,
how did Donald Trump get the idea to do what
he's doing with tariffs and the American First policy. There
are many that are acting like this is a chaotic plan,
(20:33):
a dysfunctional plan, a plan that is radical or extreme
that should never have happened, and it happened on.
Speaker 1 (20:40):
A whim from Donald Trump.
Speaker 2 (20:43):
There isn't a bigger lie than that coming out of
the conversation with tariffs. How do we know that this
is a belief that Donald Trump has had for quite
some time. Well, you can look back to nineteen eighty eight.
President Donald Trump was on the Oprah Winfrey Show talking
about countries ripping America off in the trade war. She
(21:07):
also asked him about running for office, and he said
something else that was obviously very clear. He said he
didn't think he was going to run for office unless
things got really, really, really bad. Those two things came
to fruition. And this is all the way back in
(21:28):
nineteen eighty eight. So if you think Donald Trump is
messing around, he's not. He's believed it and been planning
it for more than thirty years.
Speaker 8 (21:38):
Last year criticizing US foreign policy, what would you do differently.
Speaker 9 (21:41):
Donald, I'd make our allies forgetting about the enemies, the
enemies you can't talk to so easily. I'd make our
allies pay their fair share. We're a debtor nation. Something's
going to happen over the next number of years with
this country because you can't keep going on losing two
hundred billion, and yet we let your pan come in
and dump everything right into our markets and everything. It's
not free trade. If you ever go to Japan right
now and try to sell something, forget about it. Open,
(22:03):
just forget about it. It's almost impossible. They don't have
laws against it, they just make it impossible. They come
over here, they sell their cars, they're VCRs. They knock
the hell out of our companies. And hey, I have
tremendous respect for the Japanese people. I mean, you can
respect somebody that's beating the hell out of you, But
they are beating the hell out of this country Kuwait.
They live like kings. The poorest person in Kuwait they
live like kings. And yet they're not paying. We make
(22:25):
it possible for them to sell their oil. Why aren't
they paying us twenty five percent of what they're making.
It's a joke.
Speaker 8 (22:31):
This sounds like political presidential talk to me. And I
know people have talked to you about whether or not
you want to run.
Speaker 1 (22:36):
Would you ever?
Speaker 9 (22:38):
Probably not? But I do get tired of seeing the
country ripple.
Speaker 1 (22:41):
Why would you not?
Speaker 9 (22:42):
I just don't think I really have the inclination to
do it. I love what I'm doing, I really like.
Speaker 8 (22:47):
It also doesn't pay as well, but you know.
Speaker 9 (22:52):
I just probably wouldn't do it. I probably wouldn't, but
I do get tired of seeing what's happening with this country.
And if it got so bad, I would never want
to rule it out totally because I really am tired
of seeing what's happening with this country, how we're really
making other people live like kings and we're not.
Speaker 8 (23:07):
What do you think of this year's presidential race the
way it's shaping.
Speaker 9 (23:10):
Up, Well, it's going to be very interesting. I think
that probably George Bush has an advantage in terms of
the election. I think that probably people would say that
he's got like that little edge in terms of the incumbency,
et cetera, et cetera. But I think Jesse Jackson's done
himself very proud. I think Michael Ducacus has done one
hell of a job, and George Bush has done a
hell of a job. You know, they all went in
(23:30):
there sort of a semi underdogs, including George Bush, and
they've all come out. I think people that are around
all three of those candidates can be very proud of
the jobs they've done.
Speaker 2 (23:39):
You listen to Donald Trump then, and there's a couple
of things there that are very consistent. He said, our
allies are ripping us off. They're ripping Americans off in trade,
and we start there. He also said it's a little
bit tougher with our adversaries. Great example of that is
(24:00):
what he's dealing with with Russia right now. There are
many in the press trying to attack Donald Trump for
not putting major sanctions on Russia. Well, he says he's
trying to stop a war between Russia and Ukraine. Why
complicate things and make things worse by throwing tariffs on them?
But there's also a second point that the media is
(24:21):
omitting from the facts.
Speaker 1 (24:23):
There's not a lot to put tariffs on because we have.
Speaker 2 (24:26):
So many sanctions right now on Russia already. So it's
almost like there is in fact they said of tariffs,
there are tariffs of we're not doing anything with you,
And yet the media is trying to act like there's
some sort of Russia collusion three point zero or four
point zero or five point zero when it comes to Russia.
(24:47):
This is how they're going to continue to attack Donald Trump.
At the end of the day, this is a plan
that Donald Trump made clear back in nineteen eighty eight.
Speaker 1 (24:57):
Is something he believed in.
Speaker 2 (24:59):
He understands leverage, and that's why there's fifty plus countries
waiting in line to work a deal with Donald J. Trump,
the President of the United States of America. I also
want to go back to something else that I mentioned earlier,
and that is when Donald Trump was talking about tariffs,
(25:21):
he also said this is a way for America to
get out of debt. Donald Trump on Air Force one
saying this about tariffs and how much money the US
will make off of these tariffs.
Speaker 1 (25:32):
Listen, I've improven of this.
Speaker 5 (25:35):
You talk to a lot of leaders this weekend. Can
you tell us her were there any deals made.
Speaker 4 (25:40):
I spoke to a lot of leaders European, Asian from
all over the world and dying to make a deal.
But I said, We're not gonna have deficits with your country.
We're not gonna do that because to me, a deficit
is a loss. We're gonna have surpluses or were at
worst gonna be breaking even. But China would be the
(26:01):
worst in the group because the deficit is so big
and it's not sustainable.
Speaker 5 (26:08):
And you know, I was elected on this.
Speaker 4 (26:11):
This was one of the biggest reasons I got elected
was exactly because of this. And we're gonna put tariffs,
and we've already put them on. It's not a question
that we will. We're gonna put them on. And those
tariffs next year will make US one trillion dollars. In
addition to the one trillion dollars, thousands of companies are
(26:32):
going to relocate back into the United States and North
Carolina already.
Speaker 5 (26:37):
Furniture people are starting to move back in.
Speaker 4 (26:40):
Detroit and Michigan, which I won because of what I said.
What I'm telling you, car companies are starting to open
up and Indiana a big one is under construction.
Speaker 5 (26:51):
As an example, Honda. But they're moving in like nobody
has ever seen this before.
Speaker 4 (26:59):
So it's unsustainable for us to allow China to have
surpluses of a trillion dollars if we will be taking
in over at trillion dollars over the next short period
of time.
Speaker 5 (27:12):
With the tariffs that I've already instituted, they're already in place.
Speaker 4 (27:17):
Now, what's gonna happen with the market, I can't tell you,
but I can tell you how our country has gotten
a lot stronger, and eventually it'll be a country like
no other. It'll be the most dominant country economically in
the world.
Speaker 5 (27:31):
Just what it should be. There market here.
Speaker 2 (27:36):
You listen to the media and you hear how they're talking,
and you hear the president. He's very calm. He has
a plan. Trump was asked about the tech leaders, for example,
are they freaking out? What do they say to you?
Like they're trying to find some sort of war somewhere.
It's not happening.
Speaker 1 (27:54):
There is no war.
Speaker 2 (27:56):
Donald Trump's communicating with everybody openly to bend for guson show.
Much more coming up. Make sure, by the way, that
you share this podcast with your family and friends. Hit
that little forward arrow and text it or put it
on social media while the media does everything you can
to try to shut you down, silence us, and make
(28:16):
sure no one knows what's really happening. Also, hit that
auto download or subscribe button so you get this podcast
each and.
Speaker 1 (28:23):
Every day for free. And I'll see you back here tomorrow.
Host
Ben Ferguson
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