Ryan Seacrest here. When you have a busy schedule, it's important to maximize your downtime. One of the best ways to do that is by going to ChumbaCasino.com. Chumba Casino has all your favorite social casino games like Spin Slots, Bingo, and Solitaire that you can play for free for a chance to redeem some serious prizes. So hop on to ChumbaCasino.com now and live the Chumba life. Sponsored by Chumba Casino. No purchase necessary. VGW group void where prohibited by law. 21 plus terms and conditions apply.
Hey, Clay, if there was a summer camp for critical thinking, we'd be the chief counselors. Those jellyheads in June would be intellectual warriors by August. Be a lot of fun, too. Some Bill and Ted's excellent adventure references thrown in. This podcast, like a daily dose of that, minus the campfires, archery, and pranking the girls.
the bonafide boot camp for critical thinking. You can get in on it for free at the iHeartRadio app or wherever you get your podcasts. Just search our names, Clay and Bach, listen and subscribe.
President's decision. President's decision. It was the president's decision to wait until today. And again, as I've said in the past, no one creates leverage for himself like President Trump. This is a 47 Morning Update special edition with Ben Ferguson. Good Thursday morning. Nice to have you with us on the 47 Morning Update. It's Ben Ferguson with you as always. And we've got one
Big story for you. It's all tariffs. And the big news coming out of the White House that they raised the tariffs on China to 125 percent. And they issued a 90 day pause on some other tariffs with other countries that had come to the table.
Now I am going to play for you exactly what the White House said on this. You're going to hear from the White House press secretary and Secretary Scott Besant as well. Before I do that though, let me explain to you exactly what the White House is saying. The message is simple. For many countries who are ready to take a seat at the negotiating table and
and recognize that they will no longer be able to mistreat America. The White House said, we're going to work with you. Please come join us and be granted a temporary reprieve.
However, the White House said for those like China who want to retaliate after years of ripping America off, we will not bend and we will not break. Now, let's remind you of what the goal was from this White House. Put America first and trading partnerships that are willing to work with America first. Why? The White House said, number one, jobs, jobs and jobs.
President Trump's goal is to supercharge the onshoring of American manufacturing. We also know that the March jobs report shows that the president's economic agenda is already having unintended effect. The economy added 228,000 jobs in March, 4%.
far exceeding the economist's prediction of just 140,000 jobs added. Why? Because the present has been moving with aggressive onshoring, and it appears to be afoot as the sectors where you would first expect to see a response are growing rapidly. Construction employment expanded by 13,000 jobs, for example. Transportation and warehousing employment expanded by 22,900 jobs.
Which brings the White House to the third big point, lower prices and bigger paychecks. President Trump's drill baby drill agenda is already unleashing American energy and leading to lower gas prices. President Trump is calling on Congress to extend and expand his working class tax cuts for Americans, which they are doing. And then that brings us to the negotiating table on tariffs.
With all of the other things happening, there's no better time and no one better to negotiate than President Trump. And he's made it clear he is not flinching. He understands that America has been mistreated and has had unfair trade. And now he is answering the call by Americans to put American workers and manufacturing first.
So that brings us to the big point where there was a massive rally on Wall Street. Why? Because the president said those that are willing to work with us, they are going to go first and get great trade deals with America. And those that went after us and retaliated, aka China, will get ready for a 125% tariff.
So I'm going to play for you in its entirety exactly what the White House said so that you can't be lied to by the press. Many in the press did not want to cover this. And that's exactly why I'm letting you hear from Secretary Scott Bessette and Press Secretary Caroline Leavitt. Take a listen. His latest statement regarding his America First trade plan. As you all know, the president just put out a statement announcing
Announcing an additional tariff on China. The tariff on China will now go up to 125% because China imprudently decided to retaliate against the United States. And as I said at the podium yesterday, when you punch at the United States of America, President Trump is going to punch back harder. In that same vein, we have had more than 75 countries from around the world reach out to President Trump and his team here at the White House to negotiate better trade deals for the American worker. We have been overwhelmed.
with the amount of requests from countries around the world. I'll let the Secretary speak to that. We will continue with the tailor-made negotiations that I spoke about yesterday. In the meantime, there will be a 90-day pause on the reciprocal tariffs as these negotiations are ongoing, and the tariff level will be brought down to a universal 10% tariff. The Secretary here has been a huge part of
the President's trade team, of course, and we'll continue to lead these negotiations moving forward to look out for the American worker, which is always President Trump's goal. So I'll kick it over to our great Treasury Secretary, Scott Besson. Good. Thank you. And we saw the successful negotiating strategy that President Trump implemented a week ago today.
It has brought more than 75 countries forward to negotiate. It took great courage, great courage for him to stay the course until this moment. And what we have ended up with here, as I told everyone a week ago, in this very spot, do not retaliate and you will be rewarded. So every country in the world who wants to come and negotiate,
We are willing to hear you. We're going to go down to a 10% baseline tariff for them, and China will be raised to $125 due to their insistence on escalation.
I can say thank you for doing this. Let me ask you three quick things. I'm going to take clarity because the markets are open and they're wondering. First of all, Mexico and China, are they part of this 10% university? Well, China... Mexico and Canada. Mexico and Canada. Are they part of the 10%? Yes. Okay. Second, given then that you have the rest of the world essentially calling it is not China, is this now just all about China?
Well, it's about bad actors. And what we will see is some of the very early countries are China's neighbors. We're going to see—I'm seeing Vietnam today. Japan's at the front of the queue. South Korea, India. So we will see. And as I've repeatedly said, and President Trump has been saying it for years—
China is the most imbalanced economy in the history of the modern world, and they are the biggest source of the U.S. trade problems. And indeed, they are problems for the rest of the world, because what we've seen is that as the U.S. announced the tariff wall last week, many of those goods have already started flooding into China.
So as you see it now, this trade war is China versus the rest of the world. Well, I'm not calling it a trade war, but I'm saying that China has escalated and President Trump responded very courageously to that and we are going to work on a solution with
They are trading partners. Excuse me, excuse me, Raquel. If I could just add to what the Secretary said. Many of you in the media clearly missed the art of the deal. You clearly failed to see what President Trump is doing here. You tried to say that the rest of the world would be moved closer to China when in fact we've seen the opposite effect. The entire world is calling the United States of America not China because they need our markets, they need our consumers, and they
need this president in the Oval Office to talk to them. And that's exactly why more than 75 countries have called, because the United States of America is the best place in the world to do business. And as the president has shown great courage, as the secretary has said, in choosing to retaliate against China even higher. Elena, go ahead. Hi. Thank you, Treasury Secretary Bessette. Can you explain more of the decision-making on China?
What feels like a reversal here? I mean, just these went into effect less than 15 hours ago, these tariffs. Why the pause now? What led to that? No. Again, President Trump created maximum negotiating leverage for himself. And which tariffs went into effect 15 hours ago? The ones that we have lowered went into effect a week ago. They were announced a week ago, and we have just been overwhelmed, overwhelmed by the
response from mostly our allies who want to come and negotiate in good faith. So we are expecting them to come with their best deal. As I said a week ago today, don't retaliate.
hold your ground, let's see what happens. And China, they kept escalating and escalating, and now they have 125% tariffs that will be effective immediately. Mr. Secretary, thanks so much for doing this. The 90-day pause on the research.
Is that because of the whiplash that we've been seeing across the financial markets? How much was what we saw in the stock markets a part of this decision? No, it's because of the large number of inbounds. We've had more than 75 countries contact us, and I imagine after today there will be more. So it is just a processing problem. Each one of these solutions is going to be bespoke.
It is going to take some time, and President Trump wants to be personally involved. So that's why we're getting the 90-day pause. Secretary, there was a tweet that U.S. Secretary of State, Secretary of the Oval Office, was talking about this. Can you talk about what that conversation was like and what you guys said to one another that wasn't easy to forget?
It's all the president's decision and we were, the president had a level in mind to raise the China tariffs and then he had the three month, essentially the three month pause in mind and we were discussing the exact wording. Sorry?
of course the president's decision it was the president's decision to wait until today and again as i've said in the past no one creates leverage for himself like president trump no one creates leverage for himself like president trump
This is a monumental moment and a great response that was well explained by the Treasury Secretary and the press secretary there saying President Trump will take proper action for decades. Democrats, they don't understand.
how to get America first in our policies. They are constantly allowing other countries to walk all over us. As the Treasury Secretary said there, the president's going to work forward and move forward these 75 plus countries that have all said they want to meet. They're negotiating right now. And the president created the leverage for himself that he needed. As for China, they are now more isolated than they have ever
ever been, especially on the world trade front. This is the opposite of what they were hoping for. So as Caroline Levitt said a moment ago, you and the media got it wrong and the president got it right. You said people were going to run to China and now they're talking and running to America. Thank you for listening to the 47 Morning Update with Ben Ferguson. Please make sure you hit subscribe,
wherever you're listening to this podcast right now. And for more in-depth news, also subscribe to the Ben Ferguson Podcast, and we will see you back here tomorrow.
Ryan Seacrest here. When you have a busy schedule, it's important to maximize your downtime. One of the best ways to do that is by going to ChumbaCasino.com. Chumba Casino has all your favorite social casino games like Spin Slots, Bingo, and Solitaire that you can play for free for a chance to redeem some serious prizes. So hop on to ChumbaCasino.com now and live the Chumba life. Sponsored by Chumba Casino. No purchase necessary. VGW group void where prohibited by law. 21 plus terms and conditions apply.
Hey, Clay, if there was a summer camp for critical thinking, we'd be the chief counselors. Those jellyheads in June would be intellectual warriors by August. Be a lot of fun, too. Some Bill and Ted's excellent adventure references thrown in. This podcast, like a daily dose of that, minus the campfire's archery and pranking the girls.
the bonafide boot camp for critical thinking. You can get in on it for free at the iHeartRadio app or wherever you get your podcasts. Just search our names, Clay and Bach, listen and subscribe.