Black Monday: Trump's Tariffs are Causing Global Panic - But Should They?

Summary

Podcast Summary: Louder with Crowder Episode: Black Monday: Trump's Tariffs are Causing Global Panic - But Should They?
Release Date: April 7, 2025

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Introduction

In this episode of Louder with Crowder, host Steven Crowder delves into the tumultuous effects of former President Donald Trump's tariff policies on the global economy. Joined by guests Dan Bongino, Gerald Morgan, Josh Firestein, and insights from Howard Lutnick, the discussion navigates through market volatility, international protests, and the broader implications of protectionist measures.

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Market Volatility and Circuit Breakers

The episode opens with an overview of recent market fluctuations attributed to Trump's tariffs. Steven Crowder emphasizes the emotional turmoil investors are experiencing, urging calm amidst the chaos.

• [23:58] Steven Crowder: "The markets are down across the board... The US market is down now about 2.25%."

Crowder explains the concept of circuit breakers—mechanisms to pause trading during extreme volatility—and outlines their triggers in different markets.

• [24:43] Josh Firestein: "The rapid rate decline put the stock market at risk of triggering a circuit breaker."

The guests discuss historical parallels, referencing the 2008 financial crisis and the COVID-19 market downturn, highlighting the importance of long-term investment strategies over short-term panic selling.

• [29:15] Josh Firestein: "This happens every single time... Just put your money in and leave it in as long as you possibly can."

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Protests Against Tariffs and Trump

A significant portion of the episode is dedicated to recent protests against Trump and his policies, particularly tariffs. Crowder and his guests critique the nature and efficacy of these demonstrations.

• [14:24] Steven Crowder: "It's the civil rights issue of our time... The official Hands off website, they have the usual suspects."

Gerald Morgan humorously imitates protest slogans, underscoring the perceived disorganization and lack of clear objectives in the protests.

• [16:32] Gerald Morgan: "Dear President Trump, we the people of Ireland are humbly begging you to undo this tragedy..."

Crowder labels these protests as "astroturf"—manufactured movements lacking genuine grassroots support—and argues that they distract from the real economic issues at hand.

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Trump's Tariff Policies: Reasons and Impacts

a. Leverage in Negotiations

Crowder outlines that one primary reason for the tariffs is to use them as leverage in renegotiating unfair trade agreements.

• [35:07] Kevin Morgan (Guest): "We have offered zero for zero tariffs for industrial goods..."

He highlights the responsiveness of over 50 countries seeking negotiation, indicating a shift in global trade dynamics.

b. Reindustrializing the U.S.

The discussion shifts to the decline of American manufacturing and the role of tariffs in reversing this trend.

• [43:05] Steven Crowder: "In 1999, before most of the new policies... manufacturing jobs in America... were about 17 and a half million. Today they're about 12 and a half million."

Guests emphasize that the loss of manufacturing jobs was not due to automation but rather unfair trade practices and subsidized foreign labor, particularly from China.

c. Countering China’s Trade Practices

A substantial segment focuses on China's alleged currency manipulation and subsidization of industries aimed at undermining the U.S. economy.

• [37:02] Steven Crowder: "China subsidizes their industries to create more than can possibly be consumed... they're not even doing this to turn a profit. They're doing it to end your business, your industry."

Howard Lutnick provides expert insight into the severe trade deficits caused by China, stressing the necessity of tariffs to rectify these imbalances.

• [37:32] Josh Firestein: "This is the most protectionist economy that has ever existed in the history of mankind."

Crowder passionately argues that the tariffs are essential for protecting American industries and workers from communist adversaries.

• [53:04] Steven Crowder: "This is what it looks like. It's decoupling from the most powerful communist force that is."

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Global Reactions to Tariffs

The podcast examines how various international players are responding to Trump's tariff policies, with Europe, Argentina, Vietnam, and Taiwan showing willingness to negotiate.

• [35:31] Steven Crowder: "Vietnam, Taiwan... They are willing to remove tariffs on American goods."

Gerald Morgan humorously comments on the geopolitical tensions exacerbated by these economic measures.

• [40:12] Gerald Morgan: "Goodbye, soy sauce. No more free packets of soy sauce with your beef and broccoli."

Crowder criticizes China's labeling of U.S. tariffs as "economic bullying," countering by highlighting China's oppressive domestic policies and unfair trade practices.

• [49:54] Steven Crowder: "They're a deadly communist regime... how are your men gonna grow tits?"

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Future Implications and Conclusion

As the episode wraps up, Crowder reflects on the long-term benefits of the tariffs despite the short-term economic pain. He underscores the necessity of restructuring the global economy to prioritize American interests and counteract China's economic aggression.

• [41:10] Josh Firestein: "...young people who think you are old and out of touch in your 30s."

Crowder encourages listeners to remain disciplined in their investment strategies, emphasizing that the market will ultimately stabilize and benefit from these protective measures.

• [29:35] Steven Crowder: "Discipline is just as important today as it was yesterday and it will be tomorrow."

He concludes by reaffirming his support for Trump's policies, asserting that they are pivotal for America's economic resurgence and national security.

• [60:06] Dan Bongino: "You'll drop pounds."

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Notable Quotes

• Steven Crowder [29:15]: "If you rebalance and if you're disciplined and you don't panic."

• Josh Firestein [35:15]: "This is a restructuring of the global economy."

• Howard Lutnick [43:05]: "The trade craft of America is going to fix them."

• Steven Crowder [53:04]: "What world do you wanna live in? A world where China dictates the terms or the United States?"

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Final Thoughts

"Black Monday: Trump's Tariffs are Causing Global Panic - But Should They?" provides a comprehensive look into the complexities of trade policies and their ripple effects on both the U.S. and global economies. Through passionate discourse and expert insights, Louder with Crowder advocates for strategic protectionism as a necessary step towards economic sovereignty and countering unfair foreign trade practices.

For more episodes and exclusive content, viewers are encouraged to visit Louder with Crowder or follow them on the Rumble app.

Transcript

[Steven Crowder]

Welcome to the lineup. There was a Freddie Mercury conversation right before you came in here, and I apologize. We just needed to have. We needed a palate cleanse from discussing tariffs, which we will be discussing today. But welcome, Bongino Army. Welcome, Vince. Viewers. Which, of course, actually in. Well, not necessarily Latin, but if you go to any of the Romance languages in Italian, as it exists today, means nothing really matters. Or Freddie Mercury's final words, which were. Now, my question to you before. We're going to talk about the tariffs today. Okay. The fallout of the tariffs, the protests, how to discuss this and how not to discuss it if you are a broadcast personality. Because I know that people are scared. I know there's uncertainty, and I know that people, you know, are going through some actual pain. I don't want to be dismissive of that. I also don't necessarily know that the panic is warranted at this point. Just look at the market this morning. Things can recorrect. Well, actually, maybe even give you a little bit of advice. Not like Jim Cramer, but also the reasoning for this and having a roundtable discussion. Is this something that was warranted? And what are the primary reasons that Donald Trump has done this? Are we already seeing some progress on that front? Also, the two finalists for the women's pool championship. Well, they weren't women. My question to you, though, is, do you understand currency manipulation? I kind of do, but in reality, I don't. We'll discuss that more after this introduction.

[Dan Bongino]

And after Mr. Rogers saved his neighborhood from the fire, he hosted and funded a block party for all to attend.

[Gerald Morgan]

You know, my neighbor, old Mrs. Whitby, she refinanced with American financing, saved a bundle.

[Dan Bongino]

Oh, that's nice. Now, what does that have to do with this story right now?

[Steven Crowder]

This is live.

[Dan Bongino]

We're on live radio.

[Gerald Morgan]

Well, they both saved.

[Steven Crowder]

Hmm. Great.

[Dan Bongino]

In other news, in the latest study, nutritionists say you won't believe what's hidden in your children's lunch meat.

[Gerald Morgan]

You know, with American Financing, there's no hidden fees. New studies show my wife was hiding things from me. Studies show a separate checking and savings account.

[Dan Bongino]

Let me guess. A secret lover, too, huh?

[Gerald Morgan]

How did you know?

[Dan Bongino]

A big one.

[Steven Crowder]

Was it you?

[Dan Bongino]

Oh, everyone saw that dime store floozy for the harlot that she was.

[Gerald Morgan]

You adultering bastard.

[Dan Bongino]

I'm not an adult. I wouldn't touch that broad with his. Hey, I'm sorry. You know I like you.

[Steven Crowder]

It's just.

[Dan Bongino]

His wife's a slut.

[Gerald Morgan]

You're right.

[Dan Bongino]

No, I'm sorry.

[Gerald Morgan]

I just get so worked up.

[Dan Bongino]

It's what is with no. Don't say fight back. Have a backbone. This is the problem. The reason your wife wants a man that she can. She can have a volley with. You can't have a volley if you're just mush.

[Steven Crowder]

I'm still wearing the ring.

[Dan Bongino]

Yes, because you're a loser.

[Gerald Morgan]

This guy, I can't get it off.

[Dan Bongino]

What are you on about?

[Gerald Morgan]

Things got too fat.

[Dan Bongino]

I don't know if I feel bad for you or just want to spit on you and move on with my day.

[Gerald Morgan]

I haven't showered in weeks.

[Steven Crowder]

That'd be nice.

[Dan Bongino]

You know, I never told this story, but one time I actually hit a small boy with my car. Call American financing today at 1-800-974-6500 or visit american financing.net/crowder. No upfront fees, closing as fast as 10 days. And you could even delay up to two mortgage payments. NMLS 182334.

[Steven Crowder]

Strange. Glad to be with you today. I apologize. I'm a little out of sorts. Anyone out there know what Beta Alanine is? It's something that they put in like pre workout and explode ass type thing. I just realized it was in this thing that I had had that was sent as a sample and now my eyebrows and ears are itchy. Anyone ever experienced that?

[Josh Firestein]

Yeah.

[Gerald Morgan]

Makes you want to lift weights.

[Josh Firestein]

Yeah.

[Steven Crowder]

It doesn't make me want to lift weights. It makes me want to scratch like Wolfman. I know I asked you about currency manipulation, but let me ask you this. We are going to be discussing tariffs today because the market was up, was down during run through. We didn't even know what numbers we were going to use in today's show because of the volatility. But that also kind of makes the point. Let me ask you this. What do you think the biggest motivations behind these tariffs are and do you think they'll be effective? Is this a necessary adjustment or is it a misstep? You do have people on both sides, by the way, including just on the right today. And I think some folks are doing a great disservice to you. I know you have portfolios, I know you have retirement. I know that you have investments. And I know that this either can be affecting you right now or could potentially affect you. And you want to know which way is up. And unfortunately, not everyone's honest. It's a live show, weekdays 11am we don't have to worry about the YouTube dump button because we're only live on Rumble. Kevin Morgan, CEO.

[Josh Firestein]

How are you tranny. Sorry, I just. I feel freedom.

[Steven Crowder]

Well, we're addressing John Oliver tomorrow.

[Josh Firestein]

Oh, okay. Never mind.

[Steven Crowder]

Yeah, we were going to do it today, but of course the markets went nuts. John Oliver did a 42 minute installment on transgender athletes. But you need to stop making it an issue. Gaslighting is overused. But it was never an issue. Men competed against men and women competed against women. And now you're making it a thing. And we're saying, hey, don't make it a thing. So now you're saying that we're making it a thing by saying, don't make it a thing. Just. How about no one has ever made it a thing. Men compete against men, women compete against women.

[Josh Firestein]

Deal.

[Steven Crowder]

We'll address it tomorrow. I guarantee you. I know what it is. It's you're making a mountain out of a molehill. You're turning into a culture war issue. But let me spend 42 minutes making the case. So that's exactly what it is. We'll address it tomorrow. And Friday, Saturday, May 23rd, 24th, at Goodnight's Comedy Club in Raleigh, North Carolina. Nice spot. Josh Firestein. Hi.

[Gerald Morgan]

Yeah, I can't believe they're making me a feminist.

[Steven Crowder]

Really?

[Josh Firestein]

What?

[Gerald Morgan]

Yeah, yeah, I'm like, fighting for women here. I'm like, oh, man.

[Josh Firestein]

Yeah, that's true.

[Steven Crowder]

A part of me goes the other way too, where I'm like, you know what? It was women who wanted men and women's sports. Deal with it.

[Josh Firestein]

There are no more divisions. It's just sports.

[Steven Crowder]

I'll make the case theoretically. Like, ah, this is why it's silly. But you know what? I think you should probably have to face a biological man in a context. Sport. You're welcome. Feminism. Good luck. So here's. Well, it segues right into this combat sport.

[Gerald Morgan]

Like what? Dueling?

[Steven Crowder]

Yeah, yeah, exactly. Even with pistol dueling, I bet you men would be better. I know what you're thinking, hey, that's sexist. Are men better than women at everything? Well, to you, I would say. Last night, Harriet Hines beat Lucy Smith to win the ultimate Women's Pro Series Event 2. But both of them are men.

[Kevin Morgan]

Let's talk about the ultimate pool Women's Pro Series event. It was in Wigan on Sunday night, and after numerous women had competed in this pro pool tournament, the tournament came down to the final. The two finalists, Harriet Haynes and Lucy Smith, battled it out. In the end, it was Harriet Haynes that won. What is really, really bizarre, though, is that neither Harriet nor Lucy is actually a woman. So why on earth are they competing? In a women's pro pool event. Why? Well, because they claim to be women.

[Steven Crowder]

I do appreciate her candor. Yes. I thought she. What is really bizarre, though, is the two cooks and she's in jail. Yes.

[Josh Firestein]

It has to be two women or two men in a women's sport for us to even talk about pool.

[Steven Crowder]

Didn't we just have Strangio just last week saying there are no male. There are no male athletes in female sports. Because. Because now they redefine it and they say there's no such thing as a trans woman. You're just a woman. And I know what you're thinking. Why are men better than women at pool? You would think that would be.

[Josh Firestein]

I didn't think that was gonna be. I thought, okay, come on, pool, help me out here. And when you said it, I was.

[Steven Crowder]

Like, I'll tell you exactly what it is.

[Gerald Morgan]

It's the more the merrier. You got eight balls now you got plus four.

[Steven Crowder]

Don't get them started on snooker. Jeez, that's just an OG Now. I don't know anything about snooker other than it's a bigger table. You don't need to teach me. I don't care. It's. Men occupy the end of the bell curve. A lot of people don't necessarily know this, so it's true. Women, on average have a couple points higher IQ in that bulk of the curve at a certain point. So before women get mad and say, this is sexist. Men occupy all. Almost 100% of the violent prisons, right? Serial killers, gang members. But at a certain point, there are only male geniuses. Almost 100%. Men occupy both ends of the bell curve because we have more extreme personalities. It requires an almost obsessive, like, devotion to a sport to be excellent. And that lends itself to the male personality type, not to mention spatial awareness, reaction time. So, yeah, even some sports that aren't necessarily requiring of great physicality, men do better. It's not fair. No matter what you're playing, darts, we win. Do you understand it, ladies? There will be nothing left, including Woman of the Year. So Hanes took home.

[Gerald Morgan]

I mean, they've already won it once. At least twice. Twice?

[Steven Crowder]

Twice What? And it's the only qualifier. Like, in other words, like, oh, what? Men are better? Okay, yeah, well, okay. Swimming, I guess it makes. All right, obviously. Mma. Boxing. Okay. Wrestling. All right, fine. Pool, still darts. All right, how about this? Just be a woman of the Year. Just be a woman, guy still wins your bullshit pickleball.

[Gerald Morgan]

Bonus points if you have your own pickle yes.

[Steven Crowder]

Exact BYOP. So Haynes took home $2,305 for winning. And Smith, another man semifinalist, took home $1,153 for second place. With their combined winnings, they still couldn't afford a pool table. Luck is for deeds.

[Josh Firestein]

By the way, I need to admonish you. This was in England. So those were pounds and not dollars.

[Steven Crowder]

Those were pounds.

[Josh Firestein]

So maybe it's admonished reasons.

[Steven Crowder]

No, no, we do the conversion.

[Josh Firestein]

Oh, we inverted it.

[Steven Crowder]

Hey, hold on.

[Josh Firestein]

Yes.

[Gerald Morgan]

Yes.

[Steven Crowder]

Dang it. Yeah, we did the conversion, Gerald. I took it, but I redirected it like a hadouken.

[Josh Firestein]

You can't redirect a hadouken.

[Steven Crowder]

Don't let me. Don't let me do a flaming hadouken.

[Josh Firestein]

Okay, play with Fenwick. Whatever. Your gay character Gerald's glue.

[Steven Crowder]

Fei long. That's right. Fei long. You know it. And it's the only time I beat you. So here's the thing. Sometimes the pendulum is swinging the right way. But like we saw this last week with fencing, the left can't help themselves. They can't just know. When you are voting Democrat, you are voting for men and women's sports. To be clear, you are voting for the most extreme abortion policies. You are voting for speech. They cannot help themselves. They'll say that you're turning it into an issue. Pin them down. And I mean this. When you talk with someone in real life, pin them down. So you would support no biological men in women's sports ever. They can't do it. They can't. Unfortunately, some of these people then become heads of organizations. We saw it with the Olympic committee. This is what we saw just in 2024. Haynes, the man who won, was pouting. This is one year ago that he could not compete in the she's pool event. Last year, I was removed from the English Black Ball pool Federation's good female category.

[Gerald Morgan]

The Males League exists.

[Steven Crowder]

Trans women from competing against biological women.

[Josh Firestein]

An ugly one.

[Steven Crowder]

The music they play like it's Schindler's list.

[Gerald Morgan]

Yeah.

[Steven Crowder]

I couldn't hit the eight ball. This is your civil rights struggle. I couldn't beat the piss out of women. Can someone please, like, look. Okay, how about this? Look, if you want to compare yourself to civil rights, fine. You can compete in the women's division, provided when you show up to that pool table, there is a German shepherd and fire hose awaiting you. Okay? It's such an affront to the actual civil rights movements that we've had. By the way, the ban on trannies is not because of the danger related to them winning, but the danger related to them losing, as we saw. Yeah, look, they're very. And he didn't even chalk the cue first. Oh, disrespect, disrespect.

[Gerald Morgan]

You gotta chalk that thing up for at least 45 seconds.

[Steven Crowder]

Yes, exactly. I don't even know that it does anything. I don't play pool.

[Gerald Morgan]

Ah. It's the grip strength that causes an infection.

[Steven Crowder]

I don't think that's a primary concern at this point.

[Gerald Morgan]

It makes it go.

[Steven Crowder]

You guys can let me know who's making this an actual issue. And I'm never going to stop mocking it until it is no longer an issue. How about that? Because it's fun and I think it's funny. I think pee pees where there should only be hoo ha's is funny. Okay. I still think it's funny. I'll always think it's funny. And I hate that our society has come to this.

[Gerald Morgan]

Have you seen one? They look funny.

[Steven Crowder]

They do. They are.

[Gerald Morgan]

Look, we should look together later.

[Steven Crowder]

We should.

[Josh Firestein]

What?

[Gerald Morgan]

Yeah, we should have a, you know, a watch party.

[Steven Crowder]

Exactly. Over by the pool table.

[Josh Firestein]

Yeah.

[Steven Crowder]

Or is it snooker?

[Josh Firestein]

We don't have a pool table.

[Steven Crowder]

Hey, by the way, best way to follow us, download the Rumble app and follow us. On Rumble. You get notified only when we are live. It's Rumble. We own live. There is no algorithm that severs the tie. So if you're on. Well, they don't want to see it. Well, they might see it as a clip. If you're on YouTube or on Facebook, just go follow on Rumble. You actually get to watch what it is that you choose. And let's go on to the Trump protests. And I know you have a something you want to plug in later. So. Did you see this? Before we get to the tariffs, there were organized protests against. Take a guess. Correct. Donald Trump, Elon Musk. They happened across the country and a few other major cities. This was on Saturday. Across the U.S. and the world. More than 1400 protests on Saturday. According to organizers telling U.S. president Donald Trump and his adviser Elon Musk.

[Kevin Morgan]

Hands off.

[Gerald Morgan]

Hands off Canada.

[Steven Crowder]

Hands off Greenland. It's like an afterthought. Like, you know, you think about it. When the Tea Party happened after Barack Obama, they were. I was there. They were proposing very specific policies.

[Josh Firestein]

Yes.

[Steven Crowder]

And they elected, you know, they actually got people into political office and it was a movement. In this case, what do you think you're just gonna say hands off Canada. Hands off Donald Trump. Well, since you Said so.

[Josh Firestein]

He doesn't even have his hands on them, though. Right now. He's like, hey, you guys should probably vote Greenland to come in and be a part of America. We'll see what happens. Canada, you guys will be better as a state. Right? Like, that's it.

[Gerald Morgan]

A preschool teachers convention.

[Steven Crowder]

And the protest was literally called Hands Off. Hands off. This, of course, goes back to, you know, Hands off my. That was the thing with the vagina hats. It's like, this is the 2016 retread. It's San Francisco 60s retreads using punchline slogan. Retreads from 2016.

[Josh Firestein]

They still have the signs, Stephen. Like, you gotta put them to use.

[Steven Crowder]

Hands off the bloated government. Yeah, exactly.

[Josh Firestein]

Yes. There we go.

[Steven Crowder]

It's the civil rights issue of our time. And dudes playing pool against women. So the official Hands off website, they have a partners list. And of course, you see the usual suspects. The aclu, the labor unions, the Arab American Institute, the Bend the Ark, Jewish Action, lgbtq, AIP groups, Planned Parenthood. And some accidental support this time from one George McFly. Oh, hey, you get your damn hands off her. He's nervous.

[Gerald Morgan]

He meant to be at the pool tournament.

[Steven Crowder]

Guys, are you getting the picture? Remember when Nancy Pelosi said the Tea Party was astroturf? When the left accuses you of something, they are telling on themselves. When they say you are turning trans athletes, male athletes competing against women. When you're turning that into a cultural issue, they're telling on themselves when they say, oh, actually, this is Astroturf from the MAGA crowd. They're telling on themselves, this is very clearly astroturf. NGO supported protest. This is not grassroots. That's why you haven't really heard of it. That's why no one, you know, has actually attended it. And I just don't think it works anymore. I remember I was on Joe Rogan's show, Gosh, 2016, 2017, where he said, well, the big. The big Pussy march, that was a big thing. And I said, it wasn't grassroots. That was from the top down. And he was surprised we know it now. Just remember this. This is always what the left does.

[Josh Firestein]

Well, they're not even actually promoting anything or, sorry, protesting anything real right now. I call off Social Security. He said he was going after fraud in Social Security. He didn't say anything about any benefits. And so did Donald Trump. He's like, I'm not gonna touch that. I already told you about Greenland and Canada. So what are we out here yelling about? I don't Think anybody knows?

[Gerald Morgan]

Stop changing the color of the sky.

[Steven Crowder]

What?

[Josh Firestein]

Hands off my chemtrails. I don't know.

[Steven Crowder]

I have no idea. Well, anyway, maybe we'll get some more context with some highlights here from the hands off Trademark 2025 protests. I am an immigrant. I am a. That's a huge bitch.

[Josh Firestein]

Unafraid, queer and unashamed and deployed.

[Steven Crowder]

Where'd you immigrate from, Charlie? Chocolate factory.

[Howard Lutnick]

Hands off Boston march.

[Steven Crowder]

And it is the slowest march.

[Gerald Morgan]

I have told his dentist, hands off my teeth.

[Steven Crowder]

Hands off my broom.

[Josh Firestein]

Oh, geez. Hands off the Cheetos. The litigator.

[Gerald Morgan]

Hands off women.

[Steven Crowder]

For him, we're the litigate.

[Josh Firestein]

Okay, this morning, out of fascism looks like.

[Steven Crowder]

Yes, thank you, Chinese spy banger in chief, Eric Swalwell. So kicking the out of fascism is trannies and puppets.

[Gerald Morgan]

Sex puppet, sex puppet.

[Josh Firestein]

They're people.

[Steven Crowder]

This is the left has no message and they have no messengers for proof. See the protests that involve drum circles, trannies, puppets, and their messenger, Eric Swalwell. I don't know if they ever win again. And here's the thing too. We used to think of it as a youth movement, right, that has shifted dramatically. I'm a millennial. Where of course, they were very, very left wing. Gen Z is the most conservative generation at this point in their life, meaning 20 year olds, young people than any we have seen really in the last at least three quarters of a century. So if you were looking for some young people, some enthusiasm at these protests, you're not the only one.

[Tim Pool]

I'm at the protest right now in New York City anti Trump, anti fascist protests. And I have one question. Where the is Gen Z? These people are cheering, they're talking like it's just the 60s. It's just like the 60s, 60s. And they're having conversations and walking slowly. There's no fight here. There's no youth here. It's all 30 somethings and their children. Barely any teenagers ever like, yeah, these. Oh my God, I can't even like.

[Steven Crowder]

Try to eat going if you're not.

[Tim Pool]

Going to the protest right now.

[Steven Crowder]

Anywhere. They're going anywhere that's not the protest.

[Gerald Morgan]

And by the way, somewhere with their friends. Yeah, lonely.

[Steven Crowder]

Yes, you, you, not without my daughter retread. This is. She says it's like from the 60s and their 30 something with their kids. I will say this being someone in my 30s, this is the first generation you will have young people, particularly young liberals, who will go, okay, boomer. To someone who's like 32 or to someone who is like 29. This is the first time where you have young people who think you are old and out of touch in your 30s. That wasn't actually.

[Gerald Morgan]

I have a theory. I think it's because if you're in your 30s, you were born in the 90s or 80s, which makes it a different century.

[Steven Crowder]

Okay. The turn of the century.

[Gerald Morgan]

So we're in the. We're 20th century kids.

[Steven Crowder]

So do you think that was old? Was that what it was like? Like kids who were born in 1901?

[Gerald Morgan]

Yeah, yeah. They were antiquated.

[Steven Crowder]

Listen to your, your old 19th century rhetoric. You don't know what it's like being raised in today's youth.

[Gerald Morgan]

Nobody cares about Gettysburg.

[Dan Bongino]

That's right.

[Gerald Morgan]

We care about Pittsburgh.

[Dan Bongino]

That's right.

[Steven Crowder]

We've been emancipated. Get with the program. I have 14 brothers and sisters, and 12 of them died by being kicked from a horse.

[Gerald Morgan]

Oh, look, a motor car.

[Steven Crowder]

Yeah. So to give you an idea, though, Generation Z, we've seen this, right? In 2024, 46 went for Trump, 52% for Harris. Now, that's a huge number when you look at people under 30 compared to any other election pretty much ever. And it's even more glaring when you look at Gen Z men. 56% for Trump, 42% for Harris. Typically, young people become more conservative. They don't become more liberal. These are kids who are voting for Donald Trump before they even pay taxes, before they have families. So it's not all doom and gloom. There is a silver lining. I think they see the absurdity.

[Josh Firestein]

Yeah. And we talk about that all the time, that once you get older, you get out into the workforce, you have to have a job, you have to pay taxes, you start raising a family, that you become very conservative very fast. Typically, you see those numbers now, that is very. That's very heartwarming because I think for a while there was looking pretty bad.

[Gerald Morgan]

I think it's less than becoming more conservative. And in just being disgusted with the.

[Steven Crowder]

Left, I think that's part of it.

[Gerald Morgan]

With what the Democratic Party is doing. And then it's quickly making them go, oh, maybe I shouldn't be siding with these people. What are the. What are they saying on the other side?

[Steven Crowder]

Yeah, yeah, I think so. I mean, the left just can't. Again, they just can't help themselves, probably. You know, you were raised in, you know, kind of on the west coast there, up in Washington area. You think about back then, okay, gay marriage, that was kind of. Okay, socialist. You'd be like, I'm socially Liberal. But now, if you're voting Democrat, you have to be voting for sex surgeries for violent inmates, and for biological men to compete in women's contact sports and not even fill out a form stating they're a biological. The disconnect is so what? I've got to imagine that young men are in high schools today and please. I know, I know. There are a ton of you who watch. If you're in that generation and you are, for example, in a public school, how do people in your class treat the transgender queer pansexual furry in your class? How do you guys deal with it? Do you just go, oh, okay, yeah, sure. Is there a rejection of it? Is that why we're seeing this divide between, again, young men and women? I've got to imagine that they're living with it going, this is absurd.

[Gerald Morgan]

Yeah, you're right. This view has changed. When we were, you know, teenagers or young adults, it was, you know, the saying was, yeah, it's not Adam and Steve.

[Steven Crowder]

I'm like, oh, that's fine.

[Gerald Morgan]

It's not a big deal. But now it's like, oh, Adam's in Eve's cell.

[Steven Crowder]

Yes.

[Gerald Morgan]

That's getting her pregnant in prison.

[Steven Crowder]

Yeah. And Eve used to also be Adam as well. And I don't know how she got pregnant.

[Gerald Morgan]

I'm all. I'm very confused.

[Steven Crowder]

That just makes sense.

[Gerald Morgan]

Why is the warden a cat?

[Josh Firestein]

Their prison should just be. They have to be completely normal in whatever gender.

[Steven Crowder]

Exactly. Yeah. We're not even gonna put you in a prison. We're just gonna put you on a routine where you're gonna get up at the same time, you're gonna eat three square meals a day, you're gonna exercise, you're gonna do your word, your word, jumble some Sudoku.

[Josh Firestein]

So problem will take care of itself.

[Steven Crowder]

Speaking of discipline, we'll move on here to the markets and tariffs and the reason why. But before that, obviously, at opening bell this morning, markets went red, and then they went up, and then they went down again. And I don't know where we are right now.

[Josh Firestein]

Down.

[Steven Crowder]

They've gone up, down, up, down. There's a lot of volatility, and I understand that that creates a lot of uncertainty, and I understand why a lot of you may be worried. But that brings us to the word of the day, right now that you are seeing the media use circuit breaker. UK has suspended its stock futures due.

[Josh Firestein]

To a circuit breaker, and trading has been suspended there.

[Steven Crowder]

The Korean stock market tumbled during early.

[Tim Pool]

Trade on this Monday with a second.

[Steven Crowder]

I did not Expect that voice briefly.

[Tim Pool]

In the morning to ward off panic selling.

[Gerald Morgan]

We also saw a number of markets like Japan actually in that circuit breaker today.

[Steven Crowder]

The rapid rate decline put the stock market at risk of triggering a circuit breaker. It's something you need, right? You need sort of circuit breaker, I guess.

[Josh Firestein]

7. We would have hit the circuit breaker. They would have turned the lights out on the market. That's not true. To try to save us from ourselves.

[Steven Crowder]

Good night. Sweet bitch. Now, I really didn't expect that voice from the Korean lady. No, I was like, ah, Korean market bad. Sell, sell, sell, sell, fire. So what this is actually addressing circuit breaker is it defines the pause, right? Yes, the pause that takes place in trading when prices drop too fast in the market. So it kind of gives everyone a little bit of a break to let things calm down. Let me explain kind of the triggers to you. So if in a single day the S and P drops 7%, there's a 15 minute circuit breaker, a 15 minute pause in trading across all the stock market indexes. If there's a 13% drop, there's another 15 minute pause. And if there's a 20% drop, trading ends for the day. That's really what it is. And sometimes they're saying circuit breaker and they keep anticipating circuit breaker. You're almost like, I think you almost want a circuit breaker is how this kind of sounds. It's almost like you guys sell fear and panic. But remember, for those of you at home, breaking the circuit can be dangerous, as we saw in overseas markets this weekend. Three, two, one. Don't do that.

[Josh Firestein]

The new firework I love. You're right. The fear porn right now is everywhere. Everybody's talking about how the market is down. And it was funny because we were watching CNN talk about how bad the markets were as the stock market had trended up. Right. And it was up 300 points on the NASDAQ and the Dow, roughly. And they were trending all over the place. But they're not covering that stuff. So just calm down. Anybody. I know what our demographics of our audience are right now. I know what you are. Don't worry. It could suck. And we'll get into that in the next segment for just a little while, but don't worry. And if you're an old person retiring, that's not so great. But you should probably be in something that's less volatile right now anyway. If you move the market around. Yeah, so that's the thing. But CNN would have you believe that the world is coming to an end. And so Social media, to be honest.

[Steven Crowder]

And this is not the first time that this has happened.

[Josh Firestein]

No.

[Steven Crowder]

So to be clear, kind of getting to this before we get into why it's actually better for you to not panic right away, please. I've seen some people out there going, I'm pulling everything out, so buy high and sell low. There's an interesting strategy, just locking in those losses. Yes, exactly. Just hold on a little bit. But there are some reasons for the tariffs. We talked about this, really, for the last several months, saying there's going to be some discomfort. And that's not to minimize the discomfort. But at a certain point, you do have to understand and you do have to make a choice. Okay? Do we want to live in a world where we continue to lose our manufacturing, where we continue to lose our national economy because of a foreign communist adversary who is subsidizing industry with the expressed goal of destroying our national economy? At some point, there needs to be a change, Right? We're gonna get to why this has taken place before we get to that, though, the panic. Okay, let's just. Let me just give you some very clear historical context. In 2008, right? It was way worse than this. Let's grab this overlay. In 2008, there was a point. If you. Look, There you go. Oh, my gosh, look, this is terrible. I have to sell. The market is. It's done. But then if you just zoom out, if you'd have done nothing, look, you would have more than doubled in some case if you were in the dip, tripled your money. Let me be really clear. The market wins out. There are people out there who want to pick stocks and give you a hot ticket. They don't do any better than a monkey throwing darts at a board. Random walk. That is true. But then there are people who tell you. And putting anything in the stock market is like. It's like playing roulette. It's like playing the lottery. No, it is not. The market over time will always win out. If you rebalance and if you're disciplined and you don't panic. Okay, that is one thing that is constant. It's something that Tool man has talked about, that people here were very conservative in our investment strategy with our wealth. If you panicked and sold, and there were some people who did that in 2008, that's the wrong. Let me give you again, Covid. Remember, Covid, there's a day. Oh, my gosh, it's done. It's over. Some people panicked and sold. Okay, I've lost everything. Now let's just zoom out a couple of years. If you did nothing, you not only get it all back, you would have gotten it all back and significantly outpaced the inflation that followed.

[Josh Firestein]

This happens every single time. Every single time. And I have been on some calls with some of the best minds out there who talk about investing for some other stuff that I've done. And they are honest. They're like, you want to look at these trends? You want to look at those trends? Fine, you can look at those trends. You know what? It is time in the market, period, period, period, doesn't matter. Just put your money in and leave it in as long as you possibly can.

[Steven Crowder]

And I say this because we would be doing you a disservice if we. And I know that some of you will be upset at this anyway and said that I'm a Wall street show. I'm not. I absolutely am not. And I hate that Wall street wants to privatize profits and socialize losses. That is not capitalism. It is not free enterprise. I am a conservative in spite of the crony capitalism that we have seen in this country. I am a conservative as it relates to health care. I'm anti socialized health care in spite of effectively the pseudo nationalization that we've seen with insurance companies. Okay? That is not free market capitalism. It sucks today. It may suck for a while, it's painful and I understand that. But discipline is just as important today as it was yesterday and it will be tomorrow, okay? This will pass. And it's been a lot worse for significantly longer periods of time. This is not unexpected as it relates to the tariffs. It would never be consequence free. But this doesn't change the reason that they had been implemented in the first place. Which brings us to the latest installment of the Terrifier.

[Dan Bongino]

Sir.

[Steven Crowder]

Still the best thing I've potentially ever seen.

[Gerald Morgan]

Gotta get that shirt.

[Steven Crowder]

And you guys comment below, especially anyone who's been through this, what kind of rebound you saw and people who are going through it right now who might find yourself in a tough spot. Talk in the chat and in the comments section like people there who are a little bit older, wiser. Please do help some folks because you have some kids who are. And by kids I mean younger people who feel like they want to swallow a knife. We're not there. So when the patient. In this case our trade agreements, in this case our national economy. And I'm no longer anti protectionism, to be clear, because if you're protecting your economy from a communist foreign adversary, isn't that A good thing. I understand economic protectionism. If you are basically siloing yourself off from the world, right, where you're rejecting new technology, more efficient methods of goods, and of creating or delivering goods and services. That's not what we're talking about. These tariffs are designed to silo the super villain of the world who's been taking advantage for a very long time. And we'll get into some shocking numbers. References are always available, every single show. Regarding manufacturing, regarding deficits. The premise is not something that can be disputed. So this is where we end up. All right.

[Josh Firestein]

Yep.

[Steven Crowder]

China has been using our system, I mean, many loopholes to take advantage of us and to basically tear apart at the carcass that is the United States national economy, manufacturing, as far as intellectual property, you look at our trade agreements, it's never actually been fair. That is something that cannot be disputed. So now you say, okay, where do we line up on how to deal with this status quo? Keep doing it because we're all comfortable with this, or at some point you're going to come home to roost and we have to. We'd rather deal with it now before this gets worse. It kind of is an A or B, and that's where we find ourselves when the patient is sick, in this case, our national economy. Medicine can have an adverse reaction initially. It doesn't mean that it's not necessary. And that's what President Trump spoke to regarding his new tariff policy last night, I believe on Air Force One. Is there a Trump put, though? Is there pain in the market? At some point you're unwilling to tolerate this idea of a Trump put. Is there a threshold?

[Howard Lutnick]

I think your question is so stupid. 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 stupid leadership that allowed this to happen.

[Josh Firestein]

True, true. Very stupid leadership.

[Steven Crowder]

So, you know the markets are down across the board. Right. Japan was. The Japanese markets were down 7.8%. Korea was 5.1. China was 7.3. Australia, 4.2. Germany, 6.8. And as of the time of this broadcast at 11:30 Eastern, the US market, I guess it's down now about 2.25%. Moving around a lot.

[Josh Firestein]

Yeah.

[Steven Crowder]

So that brings us to. Okay, what were the reasons for these tariffs? How severe are these consequences and really, how long are they going to last? Let's go through the reasons. They haven't changed. First reason, okay. To try and use these tariffs to get countries to negotiate as a leverage tool. Not the only reason, but one of them. Right. And according now to the treasury secretary Scott Bessen, 50 countries, 50 countries at least have reached out to the United States to try and negotiate tariffs.

[Josh Firestein]

More than 50 countries have approached the, have approached the administration about lowering their non tariff trade barriers, lowering their tariffs, stopping currency manipulation. And they've been bad actors for a long time. And it's not the kind of thing you can negotiate away in days or weeks.

[Steven Crowder]

And here's the good news. When you're talking about these tariffs, when you're talking about executive orders, if these countries play ball, they can change like that. It could be instant. They can come to the table instantly and we can negotiate instantly. There is some value in that. There are pros and cons. And this was just happening this morning. I believe the EU just offered to introduce zero tariffs on specifically industrial goods.

[Kevin Morgan]

And this is a major turning point for the United States. Nonetheless, we stand ready to negotiate with the United States.

[Steven Crowder]

We stand ready.

[Kevin Morgan]

Indeed, we have offered zero for zero tariffs for industrial goods as we have successfully done with many other trading partners because Europe is always ready for a good deal. So we keep it on the table.

[Steven Crowder]

Two things. Why had you done it with other trading partners and not us? Screw you for that. Two, we stand now ready to negotiate like she acts like they're getting ready for. We stand now ready to say, uncle.

[Gerald Morgan]

We don't do it sitting down.

[Steven Crowder]

That's right.

[Josh Firestein]

And by the way, that's a brave and courageous industrial goods. That's the, the vast majority of our trade. So yes, percentage wise, like that's huge. That's not just some random thing that's getting thrown around out there. So that's a big, big, big deal. By the way, I want to go back with Scott Besant said, which is really rude to have that in. And there it makes it hard to make sense his name. He, he said it's not just about tariffs. It's about other things that these countries have done to us to keep our goods and companies out of their country and competing with them or exporting to them. Right, right. It's trade barriers. Trade barrier can be like, well, I don't like how you take care of, you know, some kind of a toxin or some kind of a bacteria in your chicken. I don't, I don't like that you do that. We do something similar to it, but we do it in a different way. And I don't like that. So therefore you can't do it. I don't have a tariff on it.

[Steven Crowder]

China said. You mean you do nothing?

[Josh Firestein]

Yeah, exactly. You're tr.

[Steven Crowder]

We do nothing.

[Josh Firestein]

Yeah.

[Steven Crowder]

Oh, nothing. Not okay. Okay, okay, okay. We do something.

[Josh Firestein]

Speaking of which, China, currency manipulation. Instead of letting your currency float where it should, right where the market demands it goes, you artificially do something to it to make your goods, I don't know, cheaper on the world market, like China is theoretically doing or would do. Of course now to stay competitive. All of that hurts US Businesses, all of it. And we've just gotten so used to it that we're just like, ah, fine. Right.

[Steven Crowder]

And it's. By the way, this is not free enterprise. It's not. Here's one thing too. Yep. There's a problem with unions in the United States. I understand that. Yes. Where it makes it cost prohibitive for certain goods. But the American worker, even the non union American worker taxpayer, you're not competing with an honest. You're not even necessarily competing with slave labor in the third world as it relates to China. You are competing with slave labor that is still not profitable. So the Chinese communist government subsidizes it.

[Josh Firestein]

Yeah.

[Steven Crowder]

You cannot win. And China's okay doing it so long as it cuts us off at the knees. Do you understand that? We're talking about the. Where are we? Hold on a second. This timeline, because last week I thought they were saying we don't have tariffs, saying, oh, we don't. Donald Trump said reciprocal tariffs. They said, well, we don't really have those. But now they're saying, well, we're gonna introduce zero tariffs. Well, what are you introducing? What are you standing tall to introduce? You know what?

[Josh Firestein]

This makes this particularly egregious with the EU after the Second World War, the United States basically said, we will. We're the richest country on the planet right now. And to make sure that your economies get back into the global order and it's better for safety and stability. I get it. But to make sure that you guys can rebuild, we will have an imbalance.

[Steven Crowder]

Right.

[Josh Firestein]

We will help you guys do this. And then to get treated like that.

[Steven Crowder]

Yeah. We're like, okay, we're going to help you get back. Wait, wait, wait. How are you giving everyone free Internet, whether you still haven't spent your amount in NATO? Wait a second. You're giving everyone free health, but we invent the drugs. This wasn't the deal, by the way, Argentina has come to the table as well. Malay said that Argentina was working on a zero tariff deal with the United States. Currently, their tariffs average around 10 to 13%.

[Gerald Morgan]

Where is he sending the tariffs?

[Steven Crowder]

What was that? Yes, exactly. I thought there was an answer that I didn't know. I'm like, wait, what?

[Gerald Morgan]

There we go.

[Steven Crowder]

Vietnam. We talked about them last week. They offered to remove all tariffs on American goods. Their current average rate is about 9.4%. Taiwan, actually, the president wrote on X, Taiwan does not seek retaliatory tariffs.

[Josh Firestein]

That's not against.

[Steven Crowder]

Well, no, I'm saying it because they sound, this is one like they sound more American. They sound more American. It's like this is a Chinese. Taiwan does not seek retaliatory tariffs against the United States. Instead, we'll start talking from bilateral zero tariffs to ensure Taiwan's competitiveness, will increase US Imports and adopt other measures. Working together will usher in a golden age of shared prosperity. I got away from you. Current rate average is about six and a half percent. So over 50 plus countries, these are the ones that we know about. You can say it's not enough. Sure, I understand that. But you can't say that it's insignificant when that's one of the primary goals of these tariffs. By the way, Ireland seems to be the most desperate. They actually sent this open video plea to President Trump this morning.

[Gerald Morgan]

Dear President Trump, we the people of Ireland are humbly begging you to undo this tragedy your presidency has caused the Irish people. We can no longer survive under these conditions. Please, oh please take back Rosie O'Donnell. We don't even care about the tariffs, truly. In fact, I'll do you one further. We will take on other countries tariffs if you'll just take this monster off our hands. We haven't enough potatoes on the island for the appetite of. Oh, shite. I think she's here. Oh, for the love of God and all that is holy. Oh, now she's stopping in and demanding more potatoes.

[Steven Crowder]

Sometimes you don't really know that's really.

[Gerald Morgan]

What the President of Ireland looks like. He looks like a leprechaun.

[Steven Crowder]

You don't really understand until you see how it affects real folks.

[Josh Firestein]

Real folks.

[Steven Crowder]

Name that movie line. Here's reason number two for the tariffs. And this is going to take a little while, but is the re industrializing of the United States. The numbers are shocking. Now, I want you to keep in context. The reason that this manufacturing has been siphoned is not because of automation, is not because of us entering into the modern workforce. No, it's because of communist subsidized slave labor. In other words, slave labor isn't enough to beat the United States to The goods and services punch. When you're seeing this from China, it is subsidized. You cannot be a small business in the United States and compete with the Chinese communist government who doesn't care about losses. As a matter of fact, it's part. It's not a bug, it's a feature. Please comment if you understand the difference. A small business in the United States competing against a small business in Germany or medium sized business in the United States competing against a medium sized business in Taiwan is very, very different from a business in the USA competing against a communist government who is willing to subsidize losses in order to drive you out of business. So Commerce Secretary Howard Lutnick, he actually talked about this on Face the Nation.

[Scott Bessen]

The army of millions and millions of human beings screwing in little, little screws to make iPhones, that kind of thing is going to come to America, going to be automated and great Americans. The tradecraft of America is going to fix them, is going to work on them. They're going to be mechanics, there's going to be H Vac specialists, there's going to be electricians. The trade craft of America are high school educated Americans. The core to our workforce is going to have the greatest resurgence of jobs in the history of America to work on these high tech factories which are all coming to America. That's what's going on. Next generation of America.

[Steven Crowder]

Let me give you some numbers on manufacturing jobs, okay? In 1999, before most of the new policies that we see regarding China came into play, the manufacturing jobs in America, they were about 17 and a half million. Today they're about 12 and a half million. Now here's what's even more startling. If you look at the global manufacturing share from the United States, how much of the global manufacturing we made up, okay, 1995, we made up 24%, China was 5. Compared to today where we make up 15% and China makes up 32, we went from 24% to 15% and China went from 5% to 32. That occurs nowhere in nature and certainly not for a country where most of those people live in abject poverty and eat street food fried in sewer water. And that's not a joke. That's the reality for those people. Again, bring up the overlay. For those who doubt it, you can check the references. China subsidizes their industries to create more than can possibly be consumed, to dump it on a market and ensure that you are run out of business. They're not even doing this to turn a profit. They're doing it to end your business, your industry.

[Josh Firestein]

So I want to go back to something that Howard said there because this is one of those very fine people clips. Everybody this weekend was sharing that after he had that appearance on Sunday morning and saying that Howard Lutnick was basically saying, oh good, we're going to have thousands and millions of jobs created by people screwing in tiny little screws. And they were like, great, sweatshop labor is coming to the United States. Without playing the clip for two more seconds where we said, and we're going to automate that. Basically he's saying we don't need sweatshop labor. Shouldn't this be good? We can actually automate this process. We can get rid of sweatshop labor because that's just taking advantage of a workforce. Obviously you have to retrain that workforce and move into something else. But isn't this a good thing? And they're like, he's bringing sweatshop labor to the United States. That's not at all what he said there. But this is another time instead of dealing with the facts that you just gave them, right? You can deal with that. You can go, oh, sweatshop labor. I don't have to deal with the fact that China's kicking our butts in manufacturing.

[Steven Crowder]

And I understand too the argument that people will make regarding automation. We have this argument all the time regarding AI for sure. Well, oh, you'll automate Americans out of jobs that can happen. Or if you can automate menial, low skilled tasks, it allows more high paying skilled labor jobs for Americans. And that's what we've seen. For example, you've seen plenty of companies who moved to subsidized sweatshop labor in China. Apple did that. And then what do they do? Well, then they expanded rapidly. Then they created new products and services. They had more manpower, they had more brainpower to focus on the kinds of advances that you have seen where you frankly have more in common. Well, they actually, they've talked about this. They've said that young people today are so different as far as they've grown up in the era of a smartphone, that people born in the 1970s had more in common with someone from the time of Jesus Christ, literally, than pre smartphone, pre modern computers than they would with today's generation. Now you can argue if technology has been a good thing or a bad thing. But when Apple started using the subsidized slave labor in China, they became the Apple that you know today. So wouldn't we rather not have slave labor, sweatshop labor, automate some jobs here onshore and chance these companies providing more jobs. We've talked about that with mugs. There was not an American manufacturer that could meet the demand for mugs because of the kinds of policies that we have seen. So it is made overseas and we have Americans who etch it and paint it. And that pays a lot more than the bulk cost of mugs. By the way, if you're an American mug manufacturer and you can please reach out, we still haven't found them. You need to be able to create many, many tens of thousands or hundreds of thousands of mugs like that. No one could do it. So the skilled labor goes to Americans because that's the only possibility. Let's go to Apple and look at them. 2001, that's when they started this huge partnership with China to set up their manufacture, their housing, their factories. Right. Roads, all this stuff with the Chinese government in order to set up their manufacturing there. What happened? They became the most valuable company for the United States. But a lot of that money is going to a foreign adversary. Wouldn't you rather have those headquarters here? Would you rather have something automated in the United States and everyone else at Apple employed here? Or instead of automation, Chinese slave labor? Again, you do have to kind of look at it and make your choice. There's a reason for it, because with Apple led to a huge loss in American jobs and a huge trade deficit, which has been described by Donald Trump many times and is one of the reasons for these tariffs.

[Howard Lutnick]

Hundreds of billions of dollars a year we lose with China. And unless we solve that problem, I'm not going to make a deal. Now, I'm willing to deal with China, but they have to solve their surplus. We have a tremendous deficit problem with China. They have a surplus of at least a trillion dollars a year. I think it's like a trillion one. And I want that solved. And no other president has taken it on. I had to take it on the last time. And then we had a rigged election. We're not going to lose a trillion dollars. But the privilege of buying pencils from China.

[Steven Crowder]

The privilege of buying pencils from China. He's putting a finer point on it. And by the way, he's mostly correct. This brings us to the third reason and the primary reason. Beating China's ass. Okay? That's a big reason for this. We have a very skewed economy and we have a very significant enemy. I don't know that an enemy has been more underestimated than China in modern history. The United States, especially when you look at exactly what they say they aim to do and exactly how they refer to us, how they treat us. So now in response to retaliatory tariffs, China said there's going to be a retaliatory to retaliatory tariffs, another 34% tariff on US products. And what's funny is China, yes, the communist government of China accused the United States of economic bullying.

[Josh Firestein]

The pursuit of so called fairness is more than just America's exceptionalism. That's the stance that China has taken on US Sweeping tariffs against trading partners around the globe. In a statement on Saturday, Beijing said Washington's move infringes on other countries legitimate rights, violates World Trade Organization rules, harms the rules based multilateral trading system and disrupt global economic stability. Good. It also labeled U.S. tariffs as an act of unilateralism, protectionism and economic bullying. What?

[Steven Crowder]

We're bullying? We're bullying? What do you do to Christian converts in China? Hold on a second. We're bullying? How do you treat your workers there in China? I just want to understand, are people allowed to speak out against, against the government, just to your own citizens? Then we're bullying. What kind of tariffs have you had against the United States? What kind of industries have you subsidized specifically to take out business in the United States to take food from the mouths of our children? You accuse us of bullying and this term protectionism. And I was more libertarian where again, that was a dirty word. Yeah. Protecting us from China, protecting us from communism. Let me ask you this. We weren't major trading partners obviously with the Soviet Union, but if during the Cold War you guys understood, we said, okay, well obviously we're not going to be, we're not going to be paying for it. We're not going to be supplying Russia through, through trade.

[Josh Firestein]

Right.

[Steven Crowder]

Through economic exchange. We're going to have a moratorium. We're going to have a ban on purchasing anything from. Why? Because. Well, because they're a nuclear nation who wants to wipe us off the face of the map. How do we know? Because they've said so. Right. You would never bet you go, okay, that makes sense. They're an enemy. Why is it wrong to protect you, the American worker from the communist Chinese government? And President Trump responded to this. The tariffs on truth, he said all caps. China played it wrong. They panicked. The one thing they cannot afford to do.

[Josh Firestein]

Well, if they panicked before, they're going to be crapping in their small little britches right now. Donald Trump just posted something else, threatening a, that's long threatened a 50% tariff if they didn't remove their 34% additional tariff in response to us.

[Steven Crowder]

Wow.

[Josh Firestein]

So China responds with 34% more. I guess they're gonna do it. And then Donald Trump's like, well, if you don't pull that off by Tuesday, close of business, I believe is what it is, then on Wednesday, 50% goes into effect on you. That's.

[Steven Crowder]

That's pretty ballsy. That's pretty ballsy. It's pretty ballsy.

[Josh Firestein]

And by the way, it's very rich for the Chinese government to accuse anybody else of doing things unilaterally or for protectionists methods or using protectionist methods to kind of destabilize. This is the most protectionist economy that has ever existed in the history of mankind. They manipulate everything about their economy to the detriment of the rest of the world. And the rest of the world, the only reason that we stand there and go, okay, fine, is because of cheap labor. Right. If we could find another place tomorrow to do super duper cheap labor and it could be spun up very quickly, we'd go there.

[Steven Crowder]

Well, let me ask you this research. Can you say, are you allowed to even wave an American flag in China? It's just funny. They say we're bullies.

[Gerald Morgan]

I doubt it.

[Steven Crowder]

We're bullies here in the United States. They can never. Course. Correct. Because they kill people who speak out against the communist fascism that takes place.

[Gerald Morgan]

They gotta be careful too. They keep raising the tariffs on us. We're like their number two soybean importer. Goodbye, soy sauce.

[Steven Crowder]

Yep, yep.

[Gerald Morgan]

No more free packets of soy sauce with your beef and broccoli.

[Steven Crowder]

Yeah, you gotta pay for that now. How are your men gonna grow tits?

[Gerald Morgan]

Yeah.

[Josh Firestein]

Good luck.

[Steven Crowder]

But even China. Send the quiet part out loud. You do have a choice to make. This is a restructuring of the global economy. China, communist. Now, you do have to pick. What world do you wanna live in? A world where China dictates the terms or the United States? United States is not perfect. Would you rather live under de facto international Chinese rule or the United States? That is the pick you have to make. And the finance professor of Tsinghua University actually gave a pretty honest take of this. Said, we're willing to take on challenge. We're ready to compete with the USA in redefining the global trade system. Meaning this is not going to be what we once knew. This is not. We get to benefit from slave labor that's subsidized by a communist nation because we like some cheap trinkets. Here in the United States, we have to rip off the band aid and no longer support our adversaries abroad. And we have to start looking out for the United States. That is what we are seeing. An entire reconstruction of the global economy. You've been saying you want to fight globalists. This is what it looks like. It's decoupling from the most powerful communist force that is. Do you understand? To give you an idea, the people that we are talking about, the reason for these tariffs, let's just laser in here. These tariffs are designed to address the nation that has stolen our manufacturing, that has stolen a lot of our intellectual property, technology, businesses. And this nation still venerates the single most deadly communist regime that has ever taken place on earth. Mao. It's not even close. They still have statues and posters. It's not like they course corrected which you can at least say about Russia. Okay, all right. Stalin. We're not like they still have a little red book outside.

[Gerald Morgan]

It's a lot different than us having confederate statues, right?

[Steven Crowder]

This is to address the government that is call it the protege of Mao, depending who you ask. It's 30 million to 100 million people killed from that communist regime. And they're still blatantly self avowed communists. All of a sudden some tariffs seem kind of mild, don't they? And why have we gone this long without addressing it? Seems to me that should have happened right away when we started opening up some kind of international trade relations. Wait, hold on a second. That whole running people over with tanks, the whole tens of millions of people who you guys starved to death in the name of communism, right? You're done with that, right? Otherwise we're not going to be business pals. No one ever did. No one ever did. And Wall street kept telling us they were going to be the next great superpower and we just had to accept it. It's Mao. You want to do business. You want to allow Mao's government to take your job? What are we doing? What are we thinking?

[Josh Firestein]

It doesn't make any sense. And so in 2003, you had Warren Buffett write an article that actually decried a situation where we had about negative. We had an imbalance of, of basically ownership, right? Money that was actually just being sucked out of our economy to the rest of the world versus what the rest of the world was contributing to us. And around that time it was just under $3 trillion. That's a lot of money. Warren Buffett who? A guy right now who says tariffs are terrible. And he's the Only billionaire in the top 20 who's actually increased his fortune. He's a pretty smart guy. He's not going to get everything right. But he raised the alarm in 2003. That was when we were bringing China, like full force into everything as much as possible. He said that was a bad thing. Now it's $23 trillion. That's the kind of deficit. And so just think about that right now, since he raised the Alarm, an additional $20 trillion being sucked out of our economy. Think about tentacles in the United States from everywhere else in the world sucking the lifeblood out of our economy. That's what it's like. And we think we can just innovate our way out of this. And to some degree you can. But innovation typically is really, it's happening really closely to manufacturing. And so when you get rid of all your manufacturing, that's where the innovation occurs. Why do you think China has made such a great leap forward in innovation and technology? It's because all the manufacturing is happening over there.

[Steven Crowder]

Yeah.

[Josh Firestein]

You have to be able to pull this stuff back. We have known this forever. Donald Trump's on video talking about this in the 80s, talking about all these problems, like, this is not a new thing. And there are plenty of people, economists will tell you, one way or the other, it'll happen. It'll be 100% sure. And you have people all over the spectrum. Right. But there are plenty of very smart people who've been in the business world who have to deal with this on a daily basis, not in academia, who tell you, you have to fix this. The problem is that we didn't fix it under George Bush or Barack Obama.

[Steven Crowder]

Because the profits were too good. Exactly.

[Josh Firestein]

The companies just turned a blind eye. We're making too much money.

[Steven Crowder]

Yep.

[Josh Firestein]

And now we're about to die.

[Steven Crowder]

Donald Trump is the hipster of hating China.

[Josh Firestein]

He is. He's been doing it for.

[Steven Crowder]

I hated. I hated this look, look, frankly, I despised the chinks. Before, it was cool.

[Josh Firestein]

He'd say it like that. In the 80s it was fine.

[Steven Crowder]

Sooner or later, those zipper. I'll have to pay.

[Josh Firestein]

I've always shed this insane.

[Steven Crowder]

And by the way, for those of you who are still with us, before I actually mention Tim Pool, this actually just came in from, I believe, the Military Journal 1945. Intelligence analysts have said that they expect the Chinese invasion of Taiwan within the next six months.

[Josh Firestein]

What?

[Steven Crowder]

And of course, that could be catastrophic. As far as semiconductors, chips, we've discussed this before. If you are not a Rumble Premium member, we're going to discuss this and more how to address this. The markets going. We've talked about the tariffs, addressing the markets. There are people like Ben Shapiro and there are people like Benny Johnson. There are people on the left and on the right who are addressing it as though either this is idiotic and supporting it is ridiculous or hey, you don't need that iPhone. I think these are wrong approaches. We'll get into that and have some clips. But before that, you had something you wanted to tell me, right? Noodles.

[Josh Firestein]

I was just letting you know that research had chimed in about the flag thing. They said there's no definitive laws saying the. That you can't. You could do things that like the Olympics, for example.

[Steven Crowder]

Okay.

[Josh Firestein]

However, Hong Kongers used American flags in their protests, if that tells you anything.

[Steven Crowder]

Oh, there you go.

[Josh Firestein]

They knew how to piss off the Chinese. Yeah. And that said you can manufacture them there. In 2017, 99 and a half percent.

[Gerald Morgan]

Of the American flags that we brought.

[Josh Firestein]

In came from China.

[Steven Crowder]

Oh, lovely.

[Gerald Morgan]

Not mine. I stitched my own.

[Josh Firestein]

There you go, Betty Ross. That's right, Betsy.

[Steven Crowder]

So before we can look, this readjustment I would argue is absolutely necessary. If you disagree, you can let me know. There are always going to be short term growing pains and I do believe that these are short term. I do believe in the end it's necessary and I think that we'll come out better for it. And I certainly think that Donald Trump is making a significant effort. If you are not, by the way, Rumble Premium member. You click that, you continue with us. I think we're gonna go a whole hour. We have a lot more to get to as it relates to China and the globalists and gay frogs. If not. Hey, you're watching the lineup. You just keep on watching. You keep watching Tim Pool. He's coming up next. And you don't have to pay a dime. We appreciate it, but consider joining. That's the only way we keep the lights on. Donald Trump has really given this the old college try and doing pretty well. He's swinging the bat as seen or heard here by this exclusive audio that we have of a phone call between our president and Xi Jinping. Okay.

[Howard Lutnick]

You agreed not to invade Taiwan.

[Steven Crowder]

And I'll change my mind maybe about the tariffs. Very good.

[Dan Bongino]

You'll drop pounds.

[Steven Crowder]

We take Taiwan. No, no. Frankly, I should not take Taiwan. You leave Taiwan, Al.