The 47 Morning Update with Ben Ferguson
Episode: U.S. Customs Revenue on Track to Top $500B plus Cracker Barrel Backtracks After Branding Blunder
Date: August 27, 2025
Host: Ben Ferguson | Network: Premiere Networks

Overview

In this episode, Ben Ferguson and his co-hosts spotlight two major news stories:

1. The explosive growth in U.S. Customs tariff revenue under President Trump, potentially exceeding $500 billion, marking a significant shift in trade policy and national economic direction.
2. The branding debacle at Cracker Barrel, its swift reversal after backlash from loyal customers and commentary from President Trump, highlighting the political and business implications of "woke" corporate moves.

The tone is brisk, opinionated, and unapologetically pro-Trump, with heavy emphasis on protecting traditional American values and jobs.

Key Discussion Points

1. U.S. Tariff Revenue Soaring Under Trump Administration

[01:14–06:49]

• Main Claim: Donald Trump’s tariffs are bringing unprecedented revenue to the U.S. Treasury, with customs duty revenue on track to surpass $500 billion this year.
• Treasury Secretary Scott Bessant’s Comments:
  • July to August saw a "substantial jump" in customs revenue.
  • The original estimate of $300 billion in annual tariffs "was too low."
  • CBO now projects Trump's tariffs could "reduce the federal deficit by $4 trillion" over the next decade ([03:56]).
• Details and Stats:
  • "Tariff revenue would offset the deficit increases triggered by the Republican tax cut and spending bill passed this year."
  • Customs and excise tax collections for August already match July's total with days to go.
• Economic and Security Impact:
  • Significant tariff hikes apply to almost all trading partners, kicking in as of August 7.
  • The administration claims this is not just about money, but about restoring American jobs and ensuring economic independence from foreign suppliers, especially China.

Notable Quotes

• "This administration, your administration has made a meaningful dent in the budget deficit." (Co-host, [02:52])
• “We had a substantial jump from July to August and I think we’re going to see a bigger jump from August to September. So I think we could be on our way well over half a trillion, maybe towards a trillion dollar number.” (Paraphrased from Scott Bessant, [02:59])
• “99% of high value chips are made on the island of Taiwan... if we have not de-risked the US economy and brought these industries back onshore...when we walk out the door in January 2029, we will have failed and we are not going to fail.” (White House Official, [05:20])

Memorable Moments

• Emphasis on the urgency of reshoring key industries (semiconductors, steel, pharma).
• COVID-19 considered a "beta test" for U.S. supply chain reliability.
• “We have to bring a big amount of that [pharmaceutical production] home.” (White House Official, [06:18])

2. Cracker Barrel Rebranding Backfire and U-Turn

[06:49–13:10]

• Issue: Cracker Barrel’s 2025 "modernization" effort included dropping its iconic logo (Uncle Hershel), removing Old Country Store branding, and redecorating, which alienated core customers.
• Result:
  • Immediate backlash, stock dropped by up to 17%, and a $100 million market cap loss.
  • CEO Julie Messino’s attempts to spin the change as popular were met with skepticism.
• Public and Political Pressure:
  • Critics accused Cracker Barrel of abandoning its Southern, nostalgic roots.
  • President Trump publicly called for a reversal: "Cracker Barrel should go back to the old logo, admit a mistake and manage the company better than ever before."
  • Within hours, Cracker Barrel leadership agreed to restore the traditional branding, acknowledging they "could have done a better job" and reaffirming commitment to the brand’s legacy.

Notable Quotes

• “It was a slap in the face or a middle finger… to the customers that love Cracker Barrel.” (Co-host, [08:37])
• “Honestly, the feedback’s been overwhelmingly positive that people like what we’re doing.” (Julie Messino, [09:26])
• “Cracker Barrel should go back to the old logo, admit a mistake and manage the company better than ever before.” (President Trump, [11:30] summarized by host)
• “Donald Trump’s vocal criticism and the public urging made a massive difference. It aligned with widespread customer outrage as well as the financial losses.” (Co-host, [11:56])

Memorable Moments

• Co-hosts criticize "woke ideology" in business and reference Bud Light’s previous controversy as a cautionary tale ([06:54]).
• Cracker Barrel's about-face is framed as a win for tradition and common sense, orchestrated by Trump’s involvement.
• Speculation on the future of Cracker Barrel’s leadership in light of the fiasco: "It’ll be very interesting to see how long the leadership at Cracker Barrel will still be employed after this nightmare and disaster." (Co-host, [13:04])

Timestamps of Key Segments

• Tariff Revenue Discussion: [01:14–06:49]
• White House on Reshoring/U.S. Industry: [04:55–06:29]
• Cracker Barrel Rebranding Controversy: [06:51–13:10]
• Cracker Barrel CEO Julie Messino on GMA: [09:14–09:57]
• Trump’s Direct Involvement and Result: [10:49–11:56]

Conclusion

This episode delivers a sharp, unvarnished recap of two stories where, in the hosts' view, assertive policy and public pressure prevailed: tariffs boosting the U.S. economy and tradition winning out in the battle for corporate identity. The style is urgent and combative, cheering conservative policy wins and warning other companies not to repeat Cracker Barrel’s mistakes.

Notable Quotes Recap

• "[T]ariff revenue would offset the deficit increases triggered by the Republican tax cut and spending bill passed this year..." (Co-host, [02:52])
• "If we have not de-risked the US economy and brought these industries back onshore...we will have failed and we are not going to fail." (White House Official, [05:24])
• "Honestly, the feedback’s been overwhelmingly positive that people like what we’re doing." (Julie Messino, [09:26])
• "Cracker Barrel should go back to the old logo, admit a mistake and manage the company better than ever before." (President Trump, as quoted by host, [11:30])

Tone: Direct, assertive, pro-Trump, and skeptical of “woke” corporate trends.
Useful For: Listeners seeking concise, opinionated summaries of the latest political headlines and business controversies with a Trump-administration focus.