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

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.

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."

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.

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."

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?"

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."

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?"

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.

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