Deep Dive
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President Trump with a massive announcement yesterday at the White House. Liberation Day for the United States of America. Of course, hysteria in the media and in some cases, the markets today. We'll talk about all of the impacts, what they mean. I've got an expert assessment coming up in just moments you do not want to miss and you're probably not going to find anywhere else. Stay with us here on Vince for that. Great to talk to you this morning. A massive audience already piling in on rumble.com slash Vince. Thank you for that.
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and start feeling that relief. 888-879-6460. That's 888-879-6460. Americanfinancing.net slash Vince. NMLS number 182334. NMLSconsumeraccess.org. Operation Day in the United States of America. That's what President Trump announced from the White House yesterday. A big speech where he showed all
All of the ways that countries have been imposing financial penalties on the United States. Now, the big conversation was these would be about reciprocal tariffs, countries imposing tariffs on us and us responding in kind. It is, I'll admit, a little more complicated than that. And we'll get into the details on that in a moment. But first, take a look at President Trump holding up the big chart of the ways he says other countries are taking advantage of the United States. It's very windy out here. We didn't want to bring out the big charts because it had no chance of standing.
Fortunately, we came armed with a little smaller charge. So it's 67%. So we're going to be charging a discounted reciprocal tariff of 34%. I think, in other words, they charge us, we charge them, we charge them less. So how can anybody be upset? They will be because we never charge anybody anything. But now we're going to charge. European Union, they're very tough, very, very tough traders.
You know, you think of European Union very friendly. They rip us off. It's so sad to see. It's so pathetic. 39% we're going to charge them 20%. So we're charging them essentially half. Vietnam, great negotiators, great people. They like me. I like them. The problem is they charge us 90%. We're going to charge them 46% tariff.
All right. The president of the United States laying out all of these tariffs that we will be levying against these countries. Now, to be specific, when does this happen? Well, by this weekend, a 10 percent flat tariff to happen across the board for all of these countries around the planet. And then next week, you saw those tariffs that the president was talking about. Next week, Wednesday, is when they all come into place. For more on what exactly we just saw and the impact it's going to have on the country, I want to bring in Oren Kast now. He's the chief economist for
American Compass. Oren, good to see you here, sir. Oren Oren: Great to see you. Thanks for having me. Aaron Powell: Glad you're here to talk about all this. Now, I've seen a lot of hysteria about this. This is going to impoverish us. This will destroy the economy. What is he doing? This is a massive tax increase. And then meanwhile, I've been looking at your ex account and I've been seeing a lot of reasoned sobriety, which is actually President Trump's been talking about this for a long time. This isn't shooting from the hip. And there's a method to this madness. Tell us about it.
Well, to your point, President Trump ran on imposing a 10 percent global tariff on putting 60 percent tariffs on China, on renegotiating our agreements with other allies. And this is now what they're going forward and doing. And, you know, I think we've seen over the last couple of months a bunch of sort of stops and starts as they've gotten going. I think there's still a lot of fair questions about that.
where exactly they go now. Are these supposed to be permanent? What are we actually asking other countries to do? And so there's a long way to go on it, but the idea that this came out of nowhere or your point that the people should be hysterical about it, I don't understand. And I think the best way to realize this is, look, we've been doing that, you know, we jumped into this free trade thing a generation ago. We decided to embrace China. We've seen all the costs that that brought.
If we're not happy with those things, if we wished we'd done it the other way, it's never too late to do it the other way. I noticed that at the Rose Garden yesterday, the president brought out a number of UAW members, people who work in industries who they've seen devastated over the decades. They're enthusiastic about this.
The cattle ranchers in the United States are enthusiastic about it. They were releasing statements saying it is insane to try and sell American beef around the planet. We get treated horribly. American beef is of the highest possible quality and we want access to those markets. So the guys who actually make stuff, the agriculture guys, they seem to be on board with this.
Well, and this is the problem with how we did free trade, right? If you listen to the politicians and the economists selling free trade, they try to sell it as you Americans get to make things and sell it to the rest of the world. Right. But that's not what happened. What happened with free trade was we opened up our market.
We took the things we used to make here, moved them away, and now we get to buy a lot of things from the rest of the world. And that's what you see in our trade deficit. If trade was working well, I'd love to have free trade. I'd love to be buying all sorts of stuff from around the world, people around the world buying all sorts of stuff from us.
Well, we only got half of that deal and it's the half that does not work for American workers. And I think that's where you see a huge part of what the Donald Trump movement has been all about and what he's acting on. So let me, I want to talk about the formula for a sec.
because this I think really matters. And I hope everyone sticks with me for this because, you know, when we coming into yesterday, the basic thought that everybody was being presented with is if your country imposes a tariff on us, we will impose a tariff on you. That's what we thought reciprocal tariffs would mean. The formula that the White House released yesterday and has since acknowledged is what it is.
really addresses the trade deficits between all of these countries. In other words, we are buying a lot more product from, say, Japan than Japan is buying from the United States. So in turn, we're imposing a bit of a penalty on Japan. Essentially, the percentage comes out to half the trade deficit in order to make up for that trade deficit. So
Is this wise? Is that a wise way to construct this, do you think? - I think the important thing to say is that this did not come out of nowhere. That if you were paying attention, I mean, I'm a relatively smart guy, I guess, but I was just listening to what they were saying, what it was clear they wanted to do. I wrote a piece back in February explaining that this was exactly what they meant by reciprocal.
Because the problem with reciprocal tariffs, you just hold up a mirror and do the same thing everybody else is doing, is tariffs aren't necessarily what they're using. So Japan's a great example. Japan actually has some of the lowest official tariffs in the world in terms of the tax you pay.
But they have all sorts of policies that make it very hard to sell into the country, that make it much easier for their sellers to export to us. And so I think the president and his team are exactly right. What we're focused on is the deficit. That's what we want to fix. And so what we're going to do is we're going to create tariffs that look at how big the deficit is. The reciprocity, what's reciprocal, is not you do a tariff, we do a tariff. If there's imbalanced trade, we are going to put tariffs in place
Probably not. We don't want them to be permanent. We want them to lead you to change your behavior. But let me explore trade deficit for a moment, what that even means.
So as I understand it, what happened yesterday is they assessed the trade, the goods deficit. So we sell, we buy widgets from Japan. They buy very few widgets from us. That's the basic thing. But Japan buys services from the United States. Services are separate and distinct from goods. And when you include services, that actually changed the math. In some cases, countries that we have trade deficits with, we could actually assess, well, we have a trade surplus with them, actually, in terms of the way money is flowing.
So is it wise to just focus on goods? Is that a key element here? Well, I think there are two things here. One is that the good side of the equation is just much, much larger. So it's true that America is very strong in services. We should be clear, you know, you're talking about a lot of services provided by the knowledge workers, you know, financial services, technology services, etc.
That's a much, much, much smaller piece of the pie. So when economists say, sure, we have big goods deficits, but look at our great services surpluses. Those do not cancel each other out at all, overall.
The second thing, and this goes to why we care about the deficits, is that what economists got wrong for so long and we're finally catching up on is that making things matters. If you want to have a healthy economy, you need that industrial base. You need to actually have the manufacturing. If you want to have national security, you need to have the manufacturing. You want to have strong communities and good jobs for people all across the country, you need manufacturing, agriculture, mining, all of those kinds of industries. There's a social benefit to manufacturing. There's a huge social benefit.
And so, look, if we were a country that was like crushing on manufacturing and didn't have any services, then you'd probably say like, well, actually, we need to be focused more on the services. But if you look at how our economy has evolved over the last few decades, if you look at who's been left behind, if you look at what our challenges are, the challenges on the way that we hollowed out our industry. And so that's what this is all about is how do you reverse that? So-
How compelling is this? What Trump just did yesterday, how many countries are gonna rush to get into line is really the key question, I think, because we've already seen in the last 24 hours a number of countries making ovations very quickly that they wanna resolve any conflict here.
We saw Israel come out and saying, we're dropping any tariffs we have. We're going to zero. Canada is saying, we're ready to drop to zero. If you drop to zero, we drop to zero. We'll all be good. Let's just do that. I'm seeing India is doing everything it can to suck up to Trump right now on this. So it does seem like it is having some impact right away. And the other piece is, as I mentioned at the top, the 10% tariff doesn't go into place until this weekend. And then the big tariffs don't go into place until middle of the week next week.
Isn't that kind of an eternity in Trump time and in the kind of thing that could get these countries to rush to the table with big offers very quickly?
- I think that's definitely part of the calculation. And I would separate out that the 10% global tariff across the board, they're doing that sooner. I think the intention is that that's likely to be quite permanent, that that's not gonna be negotiated country by country. Those big tariffs targeted at where we have big deficits, I think it's absolutely right to interpret those as aim to start a negotiation,
What you just described, that what countries came out and immediately did was say, "Oh, we'll drop our tariffs to zero." That captures exactly why we didn't just want to do reciprocal tariffs. It would not have been good for us if the other countries just said, "Okay, we'll go to zero tariffs," and we said, "Oh, okay, great. Problem solved." What you're seeing instead is
Your point, okay, maybe that's their opening offer. What I think you're going to hear for the Trump administration and what I also think they need to do a better job communicating is, no, no, here's what we're looking for. Trade deficits don't just emerge out of nothing. They emerge out of a lot of the policy choices that countries make.
And up until now, everybody said, well, this is just an American problem. And what we're instead saying is, no, no, this is everybody's problem. If we're going to have free trade, everybody needs to do their part to solve it. And if we do do our part, if we do get the deficits down, then that's great. Then the tariffs can come down. So President Trump specializes in big opening moves.
He does this all the time. I mean, we're seeing it right now with immigration. These videos of gangsters being flown into El Salvador and then thrown in maximum security prisons, the effect of that has been illegal immigration has stopped. Nobody's coming across the border anymore. People are self-deporting from the United States in order to avoid that fate, whether or not they're actually due to receive that fate or not.
So in some sense, I know this. You have to trust Trump's judgment here because he does things in these like giant spectacular ways to start as an opening offer and gets everybody to fall in line as a result.
So I'm looking forward to that. I think that's going to happen. The other piece here is how big of a deal is it that we already have $5 trillion of investment that foreign countries, foreign businesses have now promised, brought into the United States at the behest of President Trump? And do you expect to see more of that now as these countries are like, maybe we can give big gifts to the United States to buy our way out of this?
I think that's going to be a big part of the solution. And I wouldn't even call it gifts. There's actually a very clear precedent for this. And it's actually something Ronald Reagan did. In 1981, when Ronald Reagan came into office, the Japanese auto market was crushing the American one. We were being flooded with lower cost Japanese imports. Yeah. Big three was sort of on the verge of bankruptcy.
And Reagan basically, under a threat of big tariffs from Congress, Reagan got the Japanese to agree to voluntarily just cap their imports.
They said the number of cars that went in last year were just, that's it. No more, no increase in cars. Instead, what Honda and Toyota are going to do to keep serving the American market is go build factories in America. And so the entire Japanese auto industry that we now have in the United States making investments here, employing hundreds of thousands of workers here, making the Toyota Camry actually the most American car ever.
on the road in terms of who's actually made the stuff in it. That was all a function of this kind of negotiation, right? And so I think that's exactly what we want to see is, look, we know that when other countries think it's in their interest to win industries from us,
to export to us, they choose policies that do that. And we're shifting that equation. We're saying, no, no, what is now in your interest is to fix this and to get back to balance. And by the way, let's just be clear on how reasonable that is, right? There's just like, oh, like the United States is now being the bully, right?
We're not asking them to do anything that we wouldn't do too. We're not saying, no, no, no, now we want to be the exporter and you have to take all of our stuff instead. All we're saying is let's get rid of the distortions that have been put into the system. Let's get back to the system the way it was supposed to work. Also, we have a lot of weight, don't we? I mean, so as I understand it, 25% of our economy is international trade, 25%. The rest is domestic. Our economy is charged by our domestic trade between the states. And so-
That's not the same for so many countries. There's a lot of countries who are highly dependent on American money flowing in. Their portfolios are not diversified. They're heavily dependent on our market. So in terms of just like being able to throw your weight around, we have a lot of it, don't we? - The United States has a tremendous amount of leverage. Even the 25% is an overstatement because it counts both the imports and the exports. - Yes, it does. Yes, it does. - If you think about as a share of GDP, as sort of a share of our economy, it's closer to 15. And to your point, for a lot of other countries,
you know, it can be upwards of 50. If you think about how dependent certainly Canada and Mexico are on their relationship with us. And then if you even think more broadly about just the role, you know, I think something else that's very important to the Trump administration is the security side of things and the role that we play in essentially, you know,
paying for everybody else's defense. And so my assessment of what's going on here is that the Trump administration has said, "Look, this old world order where the US just sort of takes everyone else's stuff and pays for everything, that's over. We would like to have a great strong alliance, economic and security, with as many market democracies as possible, but here are the requirements: balanced trade,
You pay your own way on defense, and we all agree to keep China out. And the United States, we absolutely commit to all of that too, but that's what we're looking for everybody to agree to. And if you're in, we're in, great. If you're not in, we actually do have things like tariffs that we're willing to put on the table.
I want to point to what's going on with Wall Street today. We're watching as the stock market is sliding a little bit today. That's true also in global markets, which are all panicking about this. Can we finally put to bed the idea that President Trump is beholden to Wall Street, that somehow everything is motivated by what are the billionaires want? What does Wall Street want? This is definitely not one of those moves, is it? I.
I think that's been one of the most important pieces of all of this. And you've seen this even over the last couple months, Treasury Secretary Besant going out and saying, "Look, the American dream isn't just cheap stuff. Look, we're willing to actually pay a short-term price to turn this around." Look, just because it's not good for Wall Street doesn't mean it's not good for America.
And what's so funny is that all the, you know, capital V, very serious people who spend their time on on shows, you know, complaining about American politics, complaining about people like the Trump administration. This is all they've ever said they want. They want people making long term decisions, making short term sacrifices, thinking about what's actually good for the country. And now we actually have it.
And what are they doing? I just saw last night Larry Summers, the Bill Clinton Treasury Secretary, Obama Treasury Secretary, leading left-of-center economist, literally goes out there and says, you can just take the damage in the stock market
multiply it by five or 10, and that's the damage to America. Because whatever is bad for the stock market is bad for America. This is now the position the Democrats are taking while the Republicans are saying, wait, wait, wait, the national interest is not the same as the stock market. No. And also it's like, tell that to Detroit, tell that to any number of American cities who have been absolutely hollowed out by these practices. It's just, it's absurd. And so I guess this also gets to the point that like Trump ran on this.
as you've been saying. This is not a secret. It's not a surprise. Actually, the only surprise is that everyone else thought he wasn't serious yet again. They thought he was joking about it. Wall Street traditionally prices in expectations, right? Where they make adjustments based on, oh, this will definitely happen in the future. They thought Trump was bluffing. They
They thought he was just using this as a negotiating tactic. And sure enough, yesterday, he says, no, it's Liberation Day, baby. We're doing it for real. They didn't factor the sun. And by the way, let's notice how bipartisan a lot of this actually is. When you actually look at – so Joe Biden keeps virtually all of Donald Trump's trade actions, everything he did on China. Democrats are complaining about Trump. Biden keeps basically all of it. Yeah. Yeah.
If you actually look, the recommendations on China specifically now to go even higher pretty much exclude them altogether. That's bipartisan. House China Committee, bipartisan, also in the Trump platform. And then even if you look at this idea of the 10% global tariff, this is something that we've done a lot of work on and we're really pleased to get a first round of legislation introduced on it. The guy who introduced legislation is Congressman Jared Golden from Maine, who's a conservative Democrat.
There is broad-based support among people who are actually focused on what's good for the country that we need to move in this direction. And ideally, I actually think getting Congress involved is really important. At the end of the day, if we want this to be credible, if we want it to be permanent, because we do want companies to succeed, we want them to succeed here. And they need to know what the policies are going to be. They need to know they should place their bets on investing here. Yes.
So I would love to see the administration push on this and Congress step up on saying, this is the direction we're going. Let's actually codify this in law. And everyone knows that that's the plan. So let me, let me just finish on this point.
This is a big move that the president made yesterday. And I am very hopeful about what comes next, because, again, he ran on this and he's fulfilling a promise to voters. But it does seem like in the end, it's as a big move. It's also a gamble. This could come out great or there could be some downsides, couldn't there? So what so in your view, how do you expect this is going to go and what are the risks?
Well, I think there are certainly some immediate costs, and I think it's encouraging that everyone has acknowledged that and sort of not tried to deny that they exist or claim that we can avoid them. Yeah. I think going forward, the big question is how well can the administration get its ducks in a row essentially on –
settling everybody down, saying this is permanent, communicating clearly here are the conditions under which it will change. So if this is a negotiation, here are the things we're looking for, here's what we will bargain with versus here's what's permanent. And then as I mentioned, getting Congress involved in it as well,
The last piece I'd love to see the administration focus more on is what we might call the supply side, which is if we want to rebuild in America, we need to help make sure that that can happen. We need to support the companies that are coming to invest here. We need to do a lot of work retraining workers to be able to do these kinds of jobs. And so I think
Like, the risk is we just say, "Okay, we had Liberation Day, now we sit back and it's solved." And I think there's a lot can still go wrong. The second risk is that we say, "Okay, we had Liberation Day, and now every day is a new chance to futz around with all of this." I think that is a real downside risk.
And then the upside is, no, there's actually a plan here. I think Trump's team on this is fantastic. Rubio at State, Besson at Treasury, Miriam, Council of Economic Advisors, Jameson Greer, USTR, obviously JD Vance. I think these guys get it. I think they're very serious and thoughtful about it. And I think if Trump sort of deputizes them to now translate this vision into an actual operational plan, I
I think we could see a lot of success. Yeah, I'm with you and I'm optimistic about this. Oren Kass with American Compass, chief economist there. Thank you very much. Well, thank you for having me. I'm so grateful you could come in. And by the way, check out Oren's X account where you'll be able to find out a lot more about this. Oren has written extensively about this well before that announcement yesterday of Liberation Day. It'll help ground you and give you a very good perspective on all of this. Thanks again, Oren. Thank you.
um so so i'm gonna i'll get more into this in a moment uh because i do want to talk about kind of the impacts here also the the people who are very grateful this happened people for instance uaw workers auto workers from detroit who are rooting on the president of the united states saying he's doing exactly what they voted for and why they supported him in the first place more on that coming up also your reaction in the rumble chat always appreciate that the april 15th tax deadline is coming very fast
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1-800-958-1000. That's 1-800-958-1000 or visit TNUSA.com/vince. All right. We've got people pouring in. Our thanks again to Oren Katz. Oren doesn't have to stay in the studio. We don't have much of a process here. We just people slip in and out. - I'm in the studio. Thank you again. - Thank you very much, Oren. Oren's gonna head out. Oren's gotta travel. He's gotta head home, getting on a flight, which is why he's dressed like he's getting on a flight. So thank you again.
We've got a lot of people pouring in here. People are appreciative of the interview and the deep dive. One of the things, and I've seen a lot of people in the Rumble chat, I saw while Oren was talking, that people were just talking about the hysteria that's going on all around us. I'm here to tell you, and this is, and you know this from your years with Dan, and you definitely know this from our many years of watching President Trump. What we need right now, and this is not, I don't mean this in any way as an insult to the ladies,
We need masculine sobriety right now. We need, there's fire going on around you and you're the one who's riding out the storm knowing exactly what the future holds. Knowing that, yep, we've got to go through it a little bit. That's what we need right now. And in the midst of all this, how many news cycles have you and I sat through?
Where the whole world is going apoplectic, crazy about everything, something Trump said, some random press conference, some misinterpretation, some random Washington Post claim about the words that came out of his mouth. Oh, he's awful. This is what he's attempting to do. Or look at COVID or any of these other scandals, everything.
Every one of these news cycles, there's a reason Dan Bongino came up with the Bongino rule. Every single time you got one of these news cycles that start with immense hysteria. Usually, if you look back on it, it's the people who kept their feet planted and were sober about what was going on and were thoughtful about it and waited for more data and said, OK, let me process this. Those are the ones in the end that you should look back and you should trust.
Because they're the ones who actually cared about what was actually going on and didn't join the latest emotional panic bandwagon. So no more of those. How about that? And here, this is not, again, this is not a surprise. President Trump,
ran on this. President Trump ran on this exact principle, restoring American greatness. What does that mean? American greatness means restoring American manufacturing. It means restoring American communities. It means getting rid of the blight, making them less desolate, making them worth living in, getting rid of the drugs.
The reality is too many people in Washington have spent too little time in what they refer to as flyover country. But if they even drove half an hour outside of the nation's capital in many cases or half an hour outside of the finance center of New York City or half an hour, they don't even have to drive that far in L.A. What they're going to encounter is an America that's a lot sadder than it used to be. That's a lot more beaten up than it used to be and a lot more hollowed out than it used to be.
And so President Trump was elected now multiple times on a promise to fix that. We had tariffs in Trump's first term. I just want to remind everyone. And guess what happened during that time? Did inflation skyrocket? No, inflation sat at one and a half percent. That's what you want.
When it comes to the Trump administration, it was a much better environment. The economy was rocking under President Trump. When President Trump introduced the tax cuts in the first place, very few people in media will ever admit this to you. But when President Trump introduced the tax cuts, by the next year, government revenues had increased in the government. And that's with tax cuts. The reason for that, of course, is that the American economy became more productive in that environment.
And so here, President Trump has a plan. This is his first year. He's not even to 100 days yet. And his plan is to reorder the global trade system around what's good for America, to restore American industry and manufacturing, to induce international investment in the United States, and then to provide tax cuts, huge, multi-trillion dollar tax cuts to the American people
So will that result in a savings for you? You bet it will. If the president is delivering massive tax cuts to you, that means you get to keep more of your money and then spend it on whatever you'd like to spend it on. And as time goes on, that'll be increasingly American-made products made in flourishing American communities for perfectly good American prices.
So there's a lot of excitement here. I want to share with you some footage from that Rose Garden yesterday. There's a great UAW member who got a chance to speak yesterday. I'll share that with you here in just a moment. But we've got to thank our sponsors. We do have to keep this show free, which is the plan. And the reason we can do that is the great sponsors who make it happen.
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So I do have this gentleman who is these American autoworkers, very excited. This is cut six. Listen to this UAW member, longtime autoworker. He's seen Detroit absolutely hollowed out by Washington. And he says, thank God President Trump is here. Take a look. Thank you, Mr. President. I grew up just north of Detroit, Michigan in Macomb County, Michigan.
known as the home of the Reagan Democrats. My first vote for president was for Ronald Reagan. I thought that was going to be the best president I ever saw in my lifetime until Donald J. Trump came along. I have watched my entire life, I have watched plant after plant after plant in Detroit and in the metro Detroit area close. There are now plants sitting idle. There are now plants that are underutilized and
Donald Trump's policies are going to bring product back into those underutilized plants. There's going to be new investment. There's going to be new plants built. And the UAW members, and I brought 20 of them with me. They're sitting right over here.
We support Donald Trump's policies on tariffs 100%. So, Mr. President, we can't thank you enough. And in six months or a year, we're going to begin to see the benefits. I can't wait to see what's happening three or four years down the road.
Yeah, not every president brings workers in for a major announcement like this. And yet there you have guys working on the front lines of American auto manufacturing, UAW members there. Of course, Democrats seething. How did they get the UAW by actually caring about what they care about, which is their jobs, their livelihoods and their families? What can we do for you? Democrats have spent years selling them out. How did the UAW benefit from his relationship with Democrats? They didn't. They got screwed.
by that. Imagine, you just give your money to your abuser every single month. And that's what the UAW has been doing. They're turning over a new leaf, working with President Trump because
They need to survive. President Trump is trying to rescue them. So really nice to see that. Nice to see the president just take normal Americans, bring them to the White House and support them in that way. Also, it's not just the auto industry. It's also the steel workers. They're all very excited. Cut three. Take a look. Auto and steel workers pumped about what President Trump announced yesterday. What was your reaction to the president's announcement on tariffs today? What do you think?
Very excited about it. A lot of my brother, brothers and sister steel workers like Brian, we're very excited about it because we saw what it did back in 2018. It definitely made a difference in the market. It held back all the influx of all the stuff coming over from everywhere else. Saved a lot of jobs.
Did a lot of good for us. As an American, just as a country, it did a lot. But for the steel industry, it definitely helped us. The more that we can sell more American vehicles and stop this influx of all these imports, it increases everything. The steel industry with the...
aluminum industry with everybody that supplies everything for every vehicle that every American owns, it's going to increase. It's going to create more jobs. It's going to be much better. Tax revenue. It's everything's going to be so much better for all of us. And I think it's a very positive thing is what's happening today. Yeah. America is not a stock ticker. America is over 300 million people who live here.
What is good for this country? What is good for the people who live here? So, of course, the auto workers, the steel workers excited about this. They got a chance to see what it looked like in term one. They're very happy to see what's happening now in term two. That's great. The Treasury Secretary is Scott Besson.
he has been speaking of sobriety here this guy has been sober and steady throughout all of this explaining it in very educated ways uh what's happening and why president trump is making this course correction he was asked yesterday this is cut too about whether or not prices are going to go up dramatically for americans and we have every right to be concerned about the impact on prices what will they be here is scott benson with an answer to that question for someone who says that this money coming in
is really a tax on consumers. What do you say? I say a couple of things. One, we're seeing the
The CEO of Walmart is pushing back on his Chinese suppliers, and he is telling them they have to eat all the tariff increases. They're the largest retailer in America. I think 40 million Americans go into Walmart every week. We saw in Trump 1.0, prices didn't go up.
And if we have that happening at the same time, we are able to use that income to provide President Trump's tax agenda, no tax on tips, no tax on Social Security, no tax on overtime, and making auto interest deductible for American cars. That's a home run for working class Americans.
You hear the half, the second half of that part is tax cuts. What are we going to do in order to help Americans get more of their own money back? Which is, which is a huge component to this, not to be lost in any of this conversation whatsoever. That's the president's agenda with Scott Besson is laying out there. And,
And the impact on prices, I heard, I think it was Howard Lutnick who came out and made this argument. One of the White House officials did. And they were saying, look, you have to understand that if one product gets tariffed, the price of that product does not go up commensurate exactly to the level of the tariff. It doesn't. In fact, what ends up happening is that buyers will go to other markets to buy the same product or they'll come right to the United States to buy the same product at a much lower price.
And so that means that the country that has a tariff imposed on their products, they can't raise the price of that product exactly with the tariff or else that product is not going to sell at all. It's not going to sell at all. The equivalent here is, say, you own a house and you're trying to sell it.
And there are buyers out there for that house. And then in your community, there's a massive property tax on your home. Well, the buyer's going to say, well, wait a second. I'm not going to go to the community with the massive property tax. I'm going to go to a different community where I can get a better price on a home. I've got options here. The buyer has options. The person who's locked in in the house, they've got fewer options in terms of
where how they sell it so they're going to have to eat a loss in order to make their house competitive on the market yeah that's right the property tax is really crappy here i'm going to lower the price in order to gain access to that market of buyers this is what happens
This is what happens with tariffs. And here you have the Trump administration saying, we're gonna restructure this around what's good for the United States of America, which is really, really critical here. Yeah, it's called market substitution, says Replicant Alpha, laying out all of that. Excellent, excellent stuff.
We're the biggest buyers. We'll say, nope, I'm buying elsewhere. This fifth dimensional BS. So it's really great. Yeah, people are very fired up here about what the president is doing and demonstrating a lot of that. What did I call it? Masculine sobriety in this issue. Scott Besson has also cut for warning other countries. Now's not the time to fight with us. You've already attacked us. We're defending ourselves. Don't you dare escalate here.
You look at this list of all these countries and there's some policy decisions here. China is at 34% added to the 20% already, so that's 54% on Chinese goods. Are they going to come back with something big? Well, we'll see what they do. My advice to every country right now is do not retaliate. Sit back.
Take it in. Let's see how it goes because if you retaliate there will be escalation. If you don't retaliate, this is the high water mark.
If you don't retaliate, this is the worst it's going to get. In fact, that water can recede if you start behaving yourself, if you reorient your purchases towards the United States of America. That's what Scott Bestin is announcing. Now, let me, I just want to dwell for a moment on the timeline. And I talked about it with Oren Kass at the top of the episode. And if you joined us late, go check that out. Oren's brilliant, smart guy, really offered a lot of explanations for what we've seen, what we're seeing this week. The timeline is amazing. Think about this.
President Trump says by Friday, everyone's going to get a 10% tariff around the planet. But by Wednesday of next week, everybody's going to get some shifting scale, massive tariff placed on their country based on the trade deficits that we have with them. That means they have less than a week now to quickly come up with a way to get this to stop, to suck up to the United States, to make President Trump happy. They have less than a week. They don't have a lot of time.
They certainly it's in many ways an eternity in Trump time, but not an eternity for these countries. They've got to move quickly. And that means what? They don't have time to devise crafty strategies to try and evade us. They don't have time to try and figure out a way that they can pull the wool over our eyes. They need to move with incredible speed in order to try and forestall this or stop it altogether.
That's what they need to do. So the president gave them this tiny little window of time to quickly react to what he just announced. And that's it. This is the only opportunity they're going to get. They better make it good. They better make the offer strong. They better reorient quickly. And yes, I'm seeing some temper tantrums. A couple of countries going, we're not changing anything. We might impose tariffs on you. That's fine.
That's fine. They get ready for suffering because that's what you're in for. Beyond that, though, everybody else, I'm seeing a lot of quick ovations going on from a number of countries who are already saying we're dropping our tariffs, we're dropping our barriers, we'll buy American, we'll invest in America. Expect a lot more in the days ahead. I think some more apples are going to be shaken out of this tree. I think a lot is going to get shaken out in the next few days. So once again, hold, hold.
because I think it'll be worth holding in the end. It's gonna be good. It's gonna be very good. More, more, more, more, more, says Chaosborn. I love that. Okay, let me move now into something else. I wanna talk about health. I wanna talk about healthcare. There's a fella called Cali Means. Cali Means, for a long time, he was a healthcare lobbyist in Washington, DC. And he worked in that health industry and he learned a lot and he became horrified by what he was learning.
He and by now you may know Callie Means. If you don't, you should. Callie is a fella and he's got a sister named Casey Means. Traditionally, I usually get them mixed up because sometimes I'm like, Casey's a guy's name too, so I'm not sure which one's which. Trust me, they're worth following. Callie and Casey Means.
By now, you probably know about them if you're on board with the Make America Healthy Again movement, as I am. They're brilliant and they're really, really good. They're really good at saying, hey, there's a huge problem with the American food supply and it's been aided and abetted by the government. There's a huge problem with nutrition guidelines that the government has been pushing on the American people for a long time. They're not designed for your health. They're designed to enrich some of the wealthiest food companies
on the planet. That's the way they were built. There's a huge problem with pharmaceuticals, as you know. And there's a huge problem with chronic disease that Americans are becoming sicker in a world where we've never had access to more drugs. It certainly seems like health is not improving. And yet the big pharmaceutical companies have become richer than ever. Hello, Pfizer? I mean, which of course is given
unbelievable sums of money by our own government and then given all sorts of lawsuit protections in the midst of all these COVID jabs. And they were allowed to advertise. The government did the advertising for them without ever mentioning side effects to any of these drugs. There's massive corruption in this industry. It's an industry that's in bed with people like Anthony Fauci. It's a the medical establishment literally created COVID. So it's
Not to be trusted here. And so Cali Means is working with RFK Jr. at...
the Department of Health and Human Services. And this week, the big news out of HHS is they're firing a lot of people. They're firing about 20,000 people from HHS saying, we've got to get rid of a lot of these bureaucrats. This is not an agency that's been serving the American people well. And we need to focus on health. We need to focus on chronic disease. We need to focus on the explosion in autism, the explosion in obesity, the explosion in autoimmune disorders. We have...
so many things that are worth tackling and we've made no progress on them. In fact, things have only gotten worse in the United States of America. So all of you need to go. Callie Means was sitting down with Politico this week. They did one of these big Politico interviews on stage. And the interviewer, a woman called Dasha Burns, was treating him like he was a caveman. That like, what's wrong with you? Firing all these experts. Why are you firing all these scientists? People are going to die because of this.
And Cali Means was having none of it, and he shouldn't have been. And so he decided that he would go full Leonidas, not just on the woman on stage, but in every healthcare lobbyist sitting in the crowd. Take a look at this moment, which deserves a big audience. Take a look at this. There's real problems. And, you know, when you turn on CNBC, it's just a nonstop...
It's a nonstop infomercial for pharma. It's a Sky Rizzy commercial followed by Scott Gottlieb saying how Bobby's killing people, followed by a breathless coverage of the measles outbreak and no mention of the mental health crisis. But, Callie, how does cutting a bunch of HHS solve that problem? It is insane. It is insane.
It is insane for you to insinuate that the thing standing between us and better health is more government bureaucrats. That's not what I'm insinuating. That is what everyone is saying. It is what she's saying. It is absolutely insane to insinuate that it's some crime. It's not all bureaucrats. It's a lot of scientists. It's researchers. It's people who are making sure that our citizens are safe. Those scientists fundamentally have overseen, just demonstrably, a record of utter failure. It would be insane. Is that funny? It's not true. Is that not true? It's not true.
I'd love to hear how, so what metrics would you guys point to for how the scientific community, how the four times more per capita on health care spending that we spend in America versus other countries has produced innovation? Has there been one single chronic disease medication in modern American history that has lowered rates of the chronic disease? Is it appropriate that the American Academy of Pediatrics right now, which is 90% funded by pharma, is pushing OZIPIC on six-year-olds? That is what the medical authorities are doing.
That is what the medical authorities are doing. They're pushing Ozempic on six-year-olds. It's a disgrace. And I love, don't you love that attitude? How pumped are you? This guy was like, okay, bring it on. You know, let me just give you a sense. I don't know exactly how Politico, who paid for Politico's event, but here's the way it works in DC. These events, you ever see these news events where basically a media company like Politico
They will do a stage show like what you just saw, where they'll do a live interview on a stage with a number of guests. The point of those events is to make Politico a lot of money. Those are paid for by massive sponsors. Those are revenue generating events. Those are not simple news gathering exercises. Those are some of the core means by which these news outlets are making their money. And so who pays for those events?
massive corporate sponsors do. And those corporate sponsors, one would assume for an event like that would include the pharmaceutical company. The audience is packed with pharmaceutical lobbyists who are there, who are probably given tickets by the sponsors who bought the event in the first place.
So they bring in Cali Means, and the reason for that, the reason he's so newsworthy, he's an HHS official. He's a special government employee working for RFK Jr., working with him, helping inform his judgment here, thinking that they can corner him, embarrass him, do this at an event that's sponsored by these organizations. Again, I'm making assumptions here. I didn't look to see who their corporate sponsors were, but I've seen this happen a million times.
And he goes on that stage and he goes, bring it on, suckers. Every single one of you. He had lobbyists for pharmaceutical companies laughing at him disdainfully for saying something that was completely true, which is that these agencies haven't helped us. And by the way, why would pharmaceutical lobbyists be mocking him for the harsh position he's taking on government employees? Why would they be doing that? The answer is because these agencies are captured.
That's why. It's because these agencies are hardly distinguishable from the corrupt entities that own them. They're all on the same team. These aren't separate. It's not industry and government being at loggerheads with one another, not in the world that the left has certainly created, not in the world that Washington has created for so long. They're all on the same team. They're wearing the same uniform.
And so Cali Means gets on that stage and goes, you're all full of crap and you're hurting children and you're hurting Americans. All you're doing is maintaining their illness. You're not providing cures. You're not providing solutions. This is a Washington that told you that the solution to COVID was to lock yourself inside of your house, to wear a mask, to hang plastic sheeting around every element of your life, to not go outside.
and to jab yourself with an experimental drug. That was the solution. And meanwhile, in real life, the actual solution to the disease of COVID is lose weight, go for a jog, get out in the sun, go live your life is the solution to that. Natural immunity is a solution to that. And now, thank God, how pumped are you about the people that
President Trump has in his administration right now. RFK Jr. is in, Jay Bhattacharya, Marty McCary, Cali Means is in there. This doesn't happen because the game in this case is rigged. This happens because we're gonna end the rigging. These are the people who are being brought in to be the wrecking balls, to destroy that system.
And so there's a theme here that I want to dwell on just for the whole show, which is there are people who claim that ludicrously that Trump, because he's a billionaire, is therefore owned by Wall Street. And no question, there are rich interests who are trying to constantly get in President Trump's ear to advance their own stake. That happens for every president of the United States. They definitely try to do that.
but what owned by wall street you've got to be psychotic to walk away with the assessment that everything president trump is doing is merely for like his own enrichment or elon musk's enrichment or for wall street's enrichment it's pathetic and it's the la it's the most brain-dead analysis you can possibly summon especially in light of the fact that what he's actually doing is working for the little guy relentlessly and then on this issue of health
President Trump's not captured by the health care industry. He's not captured by the bureaucrats. He just fired Anthony Fauci's wife this week. Did you know that? Anthony Fauci's wife was still working within HHS as a bioethicist. She was just canned this week by the Trump administration. Also, what kind of bioethics was she doing? She presided over the period where COVID was created by the government and then got unleashed.
And then started mandatory injections on our troops. It's madness. And so that system is being broken. And the convulsions that you are witnessing in the corporate media and on like absurd corporate media stages.
and over our airwaves in many cases, those convulsions are the convulsions of a captured corrupt establishment, furious that you are finally going after them. That's what they're upset about. That's what we're seeing today. And we're seeing a lot with this, with the reaction here to Trump's tariff policies. Again,
Go look up Casey and Callie. I'm going to have, I'm going to have them on the show. We'll, we'll get these guys at least one or two of them on. We, they reached out very early. One of their, one of their reps reached out really early to, to say that they're available. So hell yeah, we're going to get them in here. And also at some point we'll have RFK Jr. You got to wait. Let me, let me just actually, let me, I'll ask the audience here. Chat. Do you want RFK Jr. To stop by the show? Is that a yes? I'm getting some yeses. Dog mom. 1000 says yes. Okay.
Let's see. And if anybody in RFK's orbit is listening, pay attention here. The audience is asking right now. Heck yeah. Yes, yes. Hell yes. Fellas, put the chat up. I just want to make sure RFK Jr. can see this. Yeah, I think it's pretty overwhelming. I think the reaction here. We do have a no. Somebody put a no. That's a troll no. I can tell that. Yes, yes, yes, yes, yes. Yeah, we'll get him in here. Who, by the way, he's got the jacked up fitness machine at HHS.
Yeah, Jacked Up Fitness, they wanted to give RFK a machine. And so they made a donation there. And RFK said, I guess somebody at HHS said, sure, we'll take the machine. But of course, RFK was like, I can't just take it in my office. HHS, everybody who works here needs to have access to this thing. So they put the machine up right there in the building so everybody can use it. They can all get jacked up. Look at this. Yeah.
Yes, yes, yes. I'm telling you, you knows, the people who are dropping no's right now, you're trolls. And I love you. Thank you for doing that. I appreciate that. No, we do need to hear from this guy. Even if you disagree with him fundamentally, if you're like, RFK Jr. is crazy. You know what?
So you're allowed to have that opinion. And I'm happy to have him in because I'd like to talk to him, because what is the point of all of this if we can't hold our government officials accountable? What is the point of all of this if we can't talk to these guys and find out what they're actually thinking? Because this is an agency that wields incredible power over the entire health industry in the country. And we desperately need to get this thing fixed.
And he's been tackling everything, whether it's the food industry, getting out the harmful dyes, going after the stuff that's poisoning people, the chronic diseases. What's going on with our groundwater? What chemicals are they injecting into literally everything that you're consuming? Beef tallow. You fellas like beef tallow? Yeah.
Can people, hey, talk in such a way that people can hear you. Justin, are you a beef tallow guy? Oh, okay. So the guys say they can't, they can't do that right now, but they like beef tallow. Justin likes beef tallow. I don't know if I've ever had the beef tallow. Does it really make a big difference? You can taste it? Steak and shake. Well, I don't have a steak and shake near me right now. You guys are in Florida, so you have steak and shakes all over the place.
Okay, we're going to have RFK on and talk to him, the beef tallow and everything else. I got to try the tallow. Everybody keeps telling me to try the tallow. So I'm going to do that. Hey,
Guys, would you keep your feedback coming? All of you, everybody in the chat, God bless you. We got 62,500 people in the Rumble chat. Keep the feedback coming. What you like about the shows, what you don't like about the shows, feel free. I like all the feedback. I've got a thick skin. I like it. And I do feel like we're really finding our stride here with this program. And one of the things, just to give you sort of an insider perspective, we always debate
how we structure the show, where we put the interviews, where we emphasize different things in the program. That debate is always going on. The goal here is to be maximally informative, to make this hour worth your time so that you can consume it, be a little entertained, find out about some cool stuff, find out what's really going on in the world and hear from experts who really know their crap. So I'm really grateful. Oh, somebody doesn't like the set. That's
That's fine. You don't have to like the set. The set, by the way, just so everybody knows, is temporary. We're here with the generosity of Rumble. This is Rumble's studio. They're just lending us the space right now. We're building a brand new studio for me right now. And as soon as it's locked and loaded, we'll be in there, baby. And we'll be doing the show from there. So I'll give you updates as we go. I owe you more updates on all the nitty gritty behind the scenes. But God bless you. I'm just, I can't be more grateful to speak to this great audience.