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- [00:00]
Clay Travis
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.
- [00:24]
Buck Sexton
No purchase necessary. VGW Group void where prohibited by law. 21/ Terms and Conditions apply.
- [00:29]
Ryan Seacrest
You know how we're always talking about what's next? Well, I found it. It's called Formula E. Forget everything you think you know about racing. This isn't just cars going fast. It's like a supercomputer on wheels. The tech is insane, and the drivers, they're like chess grandmasters at 200 miles per hour. You've got to see it. Trust me, you'll be hooked. Follow Formula E live on Roku. Next Race, Miami, April 12th.
- [00:59]
Nate Silver
I'm Nate Silver.
- [01:01]
Maria Konnikova
And I'm Maria Konnikova. On our podcast Risky Business, we talk everything from politics to poker and from.
- [01:07]
Nate Silver
Betting on elections to betting on your favorite basketball team. Sports bettors need a bit more street smarts because there's this whole second side to sports betting of how do you actually, how do you get your money down good if people think that you're a winning bettor. And now that March Madness is upon us, we're talking bracket strategies, odds, how to maybe actually win your office pool. You can listen to Risky business on the iHeartRadio app, Apple Podcast, or wherever you get your podcasts.
- [01:33]
Gilbert King
Something unexpected happened after Jeremy Scott confessed to killing Michelle Schofield in Bone Valley season one.
- [01:40]
Jeremy Scott
Every time I hear about my dad is, oh, he's a killer. He's just straight evil.
- [01:45]
Gilbert King
I was becoming the bridge between Jeremy Scott and the son he'd never known.
- [01:50]
Jeremy Scott
At the end of the day, I'm literally a son of a killer.
- [01:53]
Gilbert King
Listen to new episodes of bone Valley Season 2, starting April 9 on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.
- [02:02]
Clay Travis
Welcome back in for the Friday edition Clay Travis Buck Sexton show. We appreciate all of you hanging out with us all over the country. I am suntanned, chastened. I had a debacle of a day on the golf course, as is often the case, but thanks to Paul, to the guys who played with me, who were fabulous across the board, and we had a what I would say was a Pretty good time across the board. We'll get into that a little bit as we move throughout the program. But live going on at Doral. I played yesterday Buck with Paul Casey and at the turn, Charles Howell the third. So I got nine holes with each guys. Turns out they're both pretty good at golf. In case you wondered. President Trump flew in at the near the end of our round and I don't know if he's staying in Doral, the Miami area, to watch the tournament. I heard he was going to be there a decent amount on his golf course, but saw him walking in yesterday and the drama of the day, though, and I thought about this because I looked down at my phone a little bit as we were, as we were traveling and, and, and then also as I was on the golf course, I tried not to check my phone that much and I was like, oh, man, stock market bucks just dodging bullets solo in the show, talking tariffs, taking calls, emails. Everybody's looking at their 401ks. And so I figured we probably should start off talking about this. Also. We'll take some of your calls. We got a loaded show. By the way, Senator Tommy Tuberville gonna be with us. Dave Rutherford, who is a part of the Clay and Buck podcast network, Dave McCormick and his wife, Dina Powell, they have a great new book out. And Auburn men's basketball coach Bruce Pearl scheduled to call in. He's a fan of the program and he has got the Auburn Tigers playing in the NCAA tournament, which I also heard there was some controversy surrounding Buck's pronunciation of tournament. Yesterday, Auburn playing against Florida on one side, Houston against Duke on Saturday.
- [04:08]
Buck Sexton
I just need to clarify something, Clay, because after some of your video from the golf course made its way online, there's talk that you can hit 330 yards from the blues and that now people are calling you Shooter MC Travis.
- [04:24]
Clay Travis
That would be a great, I'd be a great fantasy football team name Shooter MC Travis. I, I don't know that anyone has ever put four worse shots together to begin around than I did on yesterday with, you know, a PGA and live pro historically. Paul Casey, super successful guy. It's bad to hit a bad golf shot when you're playing with your buddies. It's really bad to hit a bad golf shot when you're playing with pros. So anyway, four worst shots that have ever existed in the history of golf. I'm sure some of you out there listening are raising your hand saying, clay, you should have seen me. But I'm telling you, these were the four Worst shots that have ever been strung together in the history of golf. Okay, what's going on? Stock market. I know I tell you not to look, but I'm just going to tell you what the latest is. Stock market right down, right now, not going well. The S P500 down around 4% so far today. And the Dow is down right at three and a half percent. That is not well. Okay, so general rule before, before we begin, I practice this to the best of my ability. I think if you have a 401k, if you have stocks, almost the worst thing you can do, especially if you have index funds, is sit around and look at them all the time and obsess about them. Because what the data reflects is your emotion gets the better of you. My emotion gets the better of me. And people overwhelmingly, when they try to time the market, sell at the time when stocks are near their lowest prices. Because you're looking around, you're saying, oh my goodness, I should have sold three months ago. And if I had, I would have X amount of money. And now that money's gone. This is the way people think. And so you sell at the absolute worst moment. And then you tend to buy at the absolute worst moment, too. Because when stock prices are going up, you look at prices and you say, man, I should have bought six months ago. Why didn't I do it? Well, I better do it now because they're going to keep going up. And so people who are timing the market very often are buying at peaks and selling at valleys. Okay, so let's start there. Now, what is going on? Buck, the way that I would sort of classify this, I was reading this morning breaking this down. Trump is for better or worse. Trump is trying to correct decades of futility, whether it's with immigration, border policy, whether it's with waste and fraud in the federal government and our expansive and out of control budget processes in general, or trade agreements which have been fundamentally unboxed, unbalanced against the United States for a long time. He knows he doesn't have very much time because he's only got. I know there's been a lot of talk about, oh, he's going to get a third. He's not. He's got four years. And he knows that he has to act super fast in order for things to start moving in a positive direction. And sometimes in order to fix things, you have to disrupt, you have to destroy, you have to tear down the existing systems. And we have gotten so used. This is the truth. Every politician tells you they're going to fix things. And then they get to Washington. They, they recognize how much of a swamp it is, how much of a mess it is, and they basically say, I'm just going to pass the buck along. This is why the $36 trillion debt exists in the first place. Because most politicians presume that when the penalty is there to be paid, their careers are going to be over and somebody else is going to have to deal with the mess that they created. Trump is unique in that he sees these messes and he is trying to fix them now. I don't know, I wasn't able to listen, so I'm not sure how you kind of dove into it. Buck my biggest so top line, we should have fairer trade agreements with many countries around the world. Most people would agree with that. The challenge right now is Trump is taking such drastic radical action that many companies out there that made choices, believing that politicians would never really do anything. For instance, Nike decides, hey, we're going to make all of our shoes now in Vietnam, they spend all this money in Vietnam. They never think that the tariffs are going to come because they never think any politicians actually going to hold them accountable. Apple makes most of their phones over in China. Now in India as well, it's much cheaper. And so as a result, they never thought what would happen here is happening. And so there's a bit of a panic over the drastic changes that are occurring. And what's that, what that's going to do to small, medium large businesses. That's kind of my biggest takeaway.
- [09:15]
Buck Sexton
Well, what we're also seeing is a, a weak seam, if you will, in our, in our system, in that when you try to fix any kind of problem and there's pain associated with it, even if it's short term pain, there's no benefit politically for that. So you have to be willing to give the people their medicine first before things get better. And I've brought this up before, but there was, in order to tame crazy inflation coming out of the Jimmy Carter years, Reagan's policies led into a recession that lasted a couple of years, right? Maybe it was 18 months, something like that. But then you had an absolute boom in America afterwards and a lot of the people and the so called experts were saying that what Reagan was doing was not the right thing at the time, or people were criticizing him then or they maybe criticize him now. If you're going to fix a problem, especially when it comes to spending, there's going to be a change in the way that the money is flowing and that means there are gonna be some people who are unhappy. And it's interesting to see who's particularly unhappy. Now, Clay, I don't, I don't sense that you get a lot of upset people on Main Street. I think you have a lot of people on Wall street who have gotten really addicted to just this endless flow of money printing. And as long as, when you're dealing in large numbers, right? So if you're running a multi billion dollar hedge fund, or if you're at a massive financial institution, an investment bank, and the government is printing money and putting it out into the system and you're involved in the transactions and the monetizing, effectively the monetizing of money, you're good. You, you just want the flood to continue, right? But if you're somebody who is making $50,000 a year, well, every year that you're losing 3, 4, 5% of purchasing power, and every year that you have a doubling of household goods like eggs or gas or whatever it is, that hurts. And so to deal with that in the system, you're gonna have to, you know, it's like squeezing the balloon somewhere. There's gonna be a cause and effect here. Every action has an equal and opposite reaction. And I think Trump deserves credit right now for being willing to do something that is a risk. I think there's no question about that. But also, I think he's earned the right to take this kind of a risk based upon his stewardship of the economy the last time he was president.
- [11:44]
Clay Travis
So again, I think you look at the border, it's solved. And I know nobody talks about it in terms of being able to have illegals come in. We still have to get a lot of violent predators.
- [11:56]
Buck Sexton
Illegal immigration isn't solved, but border security is where we need it to be.
- [12:00]
Clay Travis
We told, we were told it was impossible to fix without congressional action. Trump comes in and effectively, illegal crossings at our southern border have ended. We got Elon Musk going to work trying to fix the larger economic deficit that we have built in our federal budget. And frankly, a lot of what he's finding, I think is blowing his mind and many other people's minds. And this is a lot to bite off. Trump also has decided, hey, by the way, we need to fix global trade imbalance. Here's the other thing, Buck. This is not something that Trump actually benefits from. This is why it's so rare. Almost every politician doesn't take on big challenges when the payoff occurs long after they are gone. The onshoring of jobs to Replace the offshoring is something that takes years of investment. It's something, this is what we talked about that requires multiple terms of a probably Republican administration. Because I can't think of anybody who's Democrat and sane on these issues right now. And in the short term, it's gonna create pain. Now, if tariffs are so incredibly awful, as every left wing economist wants to argue now, why do they exist? This is a really difficult question, I think, for them to answer.
- [13:25]
Buck Sexton
Well, people should also remember before.
- [13:29]
Clay Travis
The.
- [13:30]
Buck Sexton
Constitutional amendment that made it possible for the income tax. Right. Isn't that a constitutional amendment? I'm trying to remember. There's 27. I think that's right before the 20th century when the income tax came into effect. That I can say with confidence, the country was funded with tariffs. So it's interesting and I know that we're a lot wealthier in, in 2024 than we were in, you know, 1824 as a country or 2025. Sorry, forgot what year it is. But we were growing rapidly and industrializing rapidly when tariffs were in fact the way the country was funded. Now that's not to say that you want to try to fund America with tariffs, although Trump does talk about that a little bit. But it does go to. This clearly isn't the annihilation of your. Has it annihilated the Chinese economy? China has tariffs that are super aggressive. China Clay has tariffs, has currency manipulation, has IP theft, has. I mean, you add all the things that they're doing. Has their economy been destroyed? China 1980 versus today. Have they gotten richer or poorer with all these things that they have in mind?
- [14:37]
Clay Travis
No, they definitely been playing the game. I think the best example, China taking advantage of US Buck is they took total advantage of labor laws and the trade agreements by just moving a lot of their production to Mexico and so they can bring it into the country far cheaper. And that's one reason, you know, the technology has become such that people can just hopscotch around the world. I think Nike used to be in the Philippines. Philippines got too expensive, so they moved to Vietnam. They have just continued to move to the country where their, their, their product cost is the lowest. And, and again, the result has been, and I know many of you out there listening, know and feel this, that the average manufacturing worker in America is making a, those jobs just don't exist anymore. And Trump is actually trying to fix much of that in the Rust Belt.
- [15:29]
Buck Sexton
Yeah, and look, he's not banning imports. And it is important to keep in mind that we're not hoping that we're going to start making all, you know, T shirts and sneakers necessarily in America. There are some things that would be very difficult for us to make profitably just based upon cost of labor here and expectations for what quality of life would be for a worker here versus in other places. I mean, there are, there's a lot of push pull. But again, Trump has been very consistent on this clay. Something else we should remind everybody of. It wasn't that long ago when Nancy Pelosi and Chuck Schumer and others were talking about the huge problem of our trade deficit. So what happened to that? Where did all that go? And so we'll dive into some more of this. But I know right now this is, I think the Democrats are gearing up to make this their issue. They're hoping they're rooting against the country. Let's just say that out loud. They're rooting against the American economy right now, now, because they think this is their pathway to retaking the House and maybe the Senate, although I think that's a stretch unless things get really ugly and stopping the Trump agenda. So we have to be aware of the politics in the background of this, too. And we will, we will take your calls on this. And let's take some pro and, and con. I mean, let's take some. If you really, if you love Trump, but you're really worried about the tariffs, I want to hear from you. And if you either love Trump or if you're iffy on Trump or whatever you think on Trump, but you think the tariffs are absolutely the way to go, we want to hear that, too. So strong opinions either direction. Let's get them going. 800-282-2882. The Preborn Network of clinics has a team of people who live by a mission to save the lives of unborn babies. They see the access and widespread availability of abortion for pregnant women. And they step in on the front lines to save lives by offering love, care and support to moms in need. This is how preborn does their mission day in and day out. And so often the first step in this, that's the game changer, is when preborn welcomes that mother in with open arms and gives her a free ultrasound. Because when mom to be meets her unborn child in the womb and hears the heartbeat and sees the tiny movements of her child within, guess what? She realizes how important this bond is. Each ultrasound costs $28. You and I can make a donation to cover those, knowing that it well may save a life. Most Often it does. Preborn operates clinics in communities across our nation where abortion rates are the highest. They do this on purpose to save as many babies as possible. In 20 years, they've saved over 300,000 babies. To donate securely, just dial pound250 and say the keyword baby. That's 250. Say baby or visit preborn.com buck preborn.com B U C K Sponsored by Preborn.
- [18:18]
Clay Travis
Making America Great Again. Is it just one man? It's many. The Team 47 podcast Sundays at noon Eastern in the Clay and Buck podcast feed. Find it on the iHeartRadio app or wherever you get your podcasts. 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.
- [18:57]
Nate Silver
No purchase necessary.
- [18:58]
Buck Sexton
VGW Group void where prohibited by law 21 + terms and conditions apply.
- [19:02]
Ryan Seacrest
You know how we're always talking about what's next? Well, I found it. It's called Formula E. Forget everything you think you know about racing. This isn't just cars going fast. It's like a supercomputer on wheels. The tech is insane, and the drivers, they're like chess grandmasters at 200 miles per hour. You've got to see it. Trust me, you'll be hooked. Follow Formula E live on Roku next race Miami, April 12 for the next.
- [19:33]
Clay Travis
Four years, maybe more, the name of the game is efficiency and doing more while spending less. And I'm not talking about our government. Private sector desperate to cut unnecessary expenses while still building better products and services and beat the competition.
- [19:46]
Buck Sexton
Over 41,000 businesses are doing just that because they upgraded to NetSuite by Oracle. NetSuite is the number one cloud ERP, bringing accounting, financial management, inventory, HR into one efficient suite instead of you paying for multiple Systems.
- [20:02]
Clay Travis
And with NetSuite's AI helping you automate manual tasks, you can free up your most important people to work on strategy, not spreadsheets. NetSuite gives you insights and recommendations in real time. Whether your company is earning millions or even hundreds of millions, NetSuite helps you find efficiency across the entire business. Speaking of which, download the CFO's Guide to AI Efficiency at netsuite.com Clay Guide is free to you at netsuite.com Clay let's get you started towards more efficiency and more success. One more time. N e t s U-I-T e.com/clay I'm Nate Silver.
- [20:44]
Maria Konnikova
And I'm Maria Konnikova. We're both journalists and professional poker players. And on our podcast Risky Business, we talk about taking risks in everything from poker to politics.
- [20:54]
Nate Silver
And we talk about betting. From betting on elections to betting on your favorite basketball team, we've learned a lot about taking risks through our own research and sometimes even our own bets. And we share what we've learned with you.
- [21:05]
Maria Konnikova
Are you still doing sports betting? I had no idea that you'd wagered over a million dollars for your research.
- [21:11]
Nate Silver
I bet almost the entirety of the 2022, 23 NBA season, all the regular season and about half the playoffs. And I learned that, I mean, it's probably what I should have expected, but I learned that it's pretty hard. I went on a huge heater at the start of the NBA season where it was up like 70,000 bucks. I'm like, man, I'm really good at the sports betting stuff. But then, but then, things change.
- [21:32]
Maria Konnikova
Now that March Madness is upon us, we're talking Braca strategies and a whole lot more. Join us and listen to Risky business on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.
- [21:46]
Gilbert King
Something unexpected happened after Jeremy Scott confessed to killing Michelle Schofield in Bone Valley season one.
- [21:53]
Buck Sexton
I just knew him as a kid.
- [21:55]
Gilbert King
Long, silent voices from his past came.
- [21:58]
Jeremy Scott
Forward, and he was just staring at me.
- [22:01]
Gilbert King
And they had secrets of their own to share.
- [22:04]
Jeremy Scott
Gilbert King I'm the son of Jeremy Lynn Scott.
- [22:10]
Gilbert King
I was no longer just telling the story. I was part of it.
- [22:15]
Jeremy Scott
Every time I hear about my dad is, oh, he's a killer. He's just straight evil.
- [22:19]
Gilbert King
I was becoming the bridge between a killer and the son he'd never known.
- [22:24]
Jeremy Scott
If the cops and everything would have done their job properly, my dad would have been in jail. I would have never existed.
- [22:29]
Gilbert King
I never expected to find myself in this place. Now I need to tell you how I got here.
- [22:36]
Jeremy Scott
At the end of the day, I'm literally a son of a killer.
- [22:39]
Gilbert King
Bone Valley Season 2 Jeremy.
- [22:43]
Jeremy Scott
Jeremy, I want to tell you something.
- [22:45]
Gilbert King
Listen to new episodes of bone Valley Season 2 starting April 9 on the iHeartRadio app, Apple Podcasts or wherever you get your podcasts. And to hear the entire new season ad free with a exclusive content starting April 9th. Subscribe to Lava for Good plus on Apple Podcasts.
- [23:03]
Buck Sexton
All right, welcome back into Clay and Buck. And I think as we're talking about reciprocal tariffs in particular, it's worth noting that not only is Trump a major proponent of this and pushing it now and has been for decades, there was a time where Trump could have listened to some others on this issue who would have also sounded like they were very dedicated to the notion of the reciprocal tariff. This is back in 1996. I was in grammar school. Clay was finishing his Ph.D. and here we are. This is cut three. Here's Nancy Pelosi.
- [23:42]
H
Listen, I think it's interesting to note that the average US MFN tariff on Chinese goods coming into the United States is 2%, whereas the average Chinese MFM tariff on US goods going into China is 35%. Is that reciprocal China trade supports 170,000 jobs in the United States, 170,000 jobs, whereas our imports from China support 10 million jobs at least. Fact is that that US China trade is a job loser. On this day, your member of Congress could have drawn the line to say to the President of the United States, do something about this US China trade relationship. That is a job loser.
- [24:28]
Buck Sexton
Maybe, maybe Trump should ask Nancy if she could kind of go on tour and propose more reciprocal tariffs now.
- [24:35]
Clay Travis
Well, I mean this is where I think Trump has remade the Republican Party to a large degree. The average blue collar worker now votes Republican. And for those of you who were voters in the 80s and 90s, that was highly uncommon. And I think frankly it's one reason we talked about this, if you want to tie it in that there's a challenge to mobilize the Republican base now when it comes to these elections that take place in non traditional times because people are busy at their jobs. And the country club Republican image that still exists in the party, there's still very much of that as well. But really the college educated voter, the person who's going to show up at every election has become a Democrat orthodoxy voter. And now they don't care about the average manufacturing worker. And that's how they've come to lose the Midwest and how they have come to fundamentally start to reject the things that they used to speak in favor of. And this is true across the board. There's so many things Trump now is advocating for that we've played for you, Buck. Where Democrats used to be the strongest advocates for them in the entire country.
- [25:50]
Buck Sexton
Yeah, well, Democrats are no longer a party of people who work for a living in the private sector and are trying to build wealth for themselves and build financial security. Democrats are the party of the very rich government worker and the dependent class. That's, that's what has happened. Look, I know tax day is coming up soon. I gotta get to work on my taxes. And I just want to talk to any of you out there who get really stressed at this time of year because you might have some real problems with the irs. Look, happens, happens to the best of us. But you don't want to let this stuff wait. You want to take action on it now. Have you missed a year or two of returns already? Look, you want to get moving on this because if the IRS comes to you first, they, they could be seizing assets, garnishing your paycheck, targeting your business, even revoking your passport. You need somebody to step in and help you fix any IRS problems you have right now. Call the pros at rush tax resolution 877554 rush. Get relief and just sleep well again, my friends. Tell them Buck told you to call and get a free IRS transcript investigation. Rush will only take your case if they know they can help. Period. Call now. Rush tax resolution 877554 rush or go to rush taxresolution.com welcome back in Clay.
- [27:11]
Clay Travis
Travis Buck Sexton show. Appreciate all of you hanging out with us. We are rolling through the Friday edition of the program. We're going to take a bunch of your calls today. We also have a bunch of guests coming your way, 800-282-2882 if you want to weigh in. But I do think it's important to talk about how many of the people now saying Trump's tariff ideas are unacceptable actually were huge proponents of tariffs not too long ago. We played Nancy Pelosi for you. Here is Bernie Sanders in 2008 saying free trade without tariffs will destroy American manufacturing. Cut for what they have said is.
- [27:49]
Buck Sexton
That we need to not worry about.
- [27:54]
Clay Travis
Manufacturing in America because what we should establish is a policy of unfettered free trade.
- [28:02]
Buck Sexton
We don't need tariffs.
- [28:03]
Clay Travis
What we need is to allow corporate.
- [28:05]
Buck Sexton
America the freedom, the freedom to throw.
- [28:08]
Clay Travis
American workers out on the street.
- [28:11]
Buck Sexton
People are making 15, 20, 25 bucks an hour.
- [28:14]
Clay Travis
Health care, pensions, throw them out on the street. Because somehow, Madam President, we are going.
- [28:19]
Buck Sexton
To create wealth in America and good paying jobs in America. As we shut down plants, we move to China.
- [28:26]
Clay Travis
Corporations there pay workers 20, 30 cents an hour and we bring the product.
- [28:30]
Buck Sexton
Back into this country.
- [28:33]
Clay Travis
It is kind of interesting here, Buck. This is when, if you remember the 2016 election, there was, and there probably are some of you out there that were deciding between voting for Bernie Sanders or Donald Trump. Because many people just wanted a disruptive force in the wake of the Barack Obama era. And there were a lot of people, New Hampshire in particular, I remember this voter buck where people went to vote and they were deciding. It might sound crazy to some of you, but hey, do I want to support Bernie Sanders or do I want to support Donald Trump? That voter was real.
- [29:07]
Buck Sexton
Oh, absolutely. And there was, this was an interesting remnant, a memory of that 2016 election cycle when there were Bernie people. And because I was at CNN at the time, there were Bernie supporters who would have to mutter out of the side of their mouth, well, I kind of agree with Trump on, on some of this trade stuff too, because they also took this pro, if you will, pro worker position. And you know, I think that there's. My view on this, just to be clear. And we're getting a lot of your calls in and we want to take different opinions on this and hear from you. My view on this is as follows. One, the people, or rather there are a number of things. One, the people who are saying this is absolutely terrible, go back and look at them on the most important policy issues, on economics and otherwise in the last decade or two, they're wrong on everything. Okay? Everything they tell you is true is not true, or everything they tell you will happen does not seem to happen when there's an important decision to be made. Right? We all know that the US Is wealthy. We all know that our economy is very dynamic. But when it comes time for a choice, I don't think that a lot of the voices that are trying to tear Trump down have a good record at all. That's one part of it. Right? Another part of it is you look at the effects of the tariffs around the, of tariffs around the world and who has been doing them and why they have them. If it was so evidently a, so self evidently destructive, I'm sorry, but Canada, the EU wouldn't have tariffs on our products if it was such a dumb move. And if making people so rich was what was what not having tariffs does, you'd wonder, Well, I guess the EU just doesn't, doesn't want to be making money in these different sectors. So there's. And so I think that's another part of it that there's no real answer to. And then the other thing is if you want change, you have to be willing to change things. And I know that's a tautology, but you have to actually do something different from what you've been experiencing the status quo is going to give you more status quo. Trump came in and he said he was gonna change the border and he did. And as we've talked about, Clay, huge success. He said he was gonna look at government waste, fraud and abuse. Doge is doing that. Hopefully they'll get a rescission package from Congress. If they do, I think that'll be a considerable success. This is a big, this is a big move. This is a big call. And Trump is rolling the dice on this one. I think he's earned the right to play the hand as he sees fit. I really, I. And I think that's in the best interest of the country right now. And you know what, Clay? If he's wrong, okay, then we'll double back. We'll bring these things down. It's not, we're not nuking Moscow over this. You know what I'm saying? This is not like a million people are incinerated overnight. And you can, you can't say whoopsie after that. I mean, this is about an ongoing negotiation.
- [31:49]
Clay Travis
Two things. And then I want to play Barack Obama talking about the necessity of reciprocal trade agreements with China when it comes to tariffs. But gas prices are going to be based on the price of oil. Gas prices are going to be the lowest that they've been since the COVID basic shutdown. So a lot of you are going to be seeing gas prices lower than they have been again in five years, basically. Second part of this, these tariffs are not supposed to impact the price of goods on a day to day basis in a substantial way in grocery stores, meaning whatever you're buying to eat is not likely to be impacted in a price. Those are the two places that I think most Americans notice cost. And, and so I think that if that happens, plus Trump has sent out a message saying, a truth, social message saying that interest rates need to be cut again. If, if there is a fear that we are sliding towards recession, Jerome Powell should be cutting interest rates. A cut in interest rates, let me just point out, would free up a lot of the housing market. I just. The number of people out there buck who have 2 and a half or 3% interest rates, don't want to leave their home and yet don't want to be paying 7% for their mortgage rate to go somewhere else has completely, completely discombobulated the entire housing park market. The run up that Joe Biden caused in interest rates going from 2 and a half to 7% as rapidly as it did for mortgages for instance, has to rectify itself in order for the economic house to get in order. Those are three things that I see moving in a positive direction. Even though the stock market in the short term, as it as, as it is, clearly, I start off the show telling you exactly what's happening is down here. Is Barack Obama demanding reciprocity in trade agreements with China? This is cut six Barack Obama, 2018.
- [33:56]
Buck Sexton
When it comes to the international system of commerce and trade, it's legitimate for poor countries to continue to seek access to wealthier markets. And by the way, wealthier markets, that's not the big problem that you're having. A small African country is sending you tea and flowers. That's not your biggest economic challenge. It's also proper for advanced economies like the United States to insist on reciprocity from nations like China that are no longer solely poor countries to make sure that they're providing access to their markets.
- [34:32]
Clay Travis
So again, China has eaten our lunch phrase that Trump has used quite a lot. China is saying they're going to reciprocate with tariff increases on United States goods. But I think the economic hand, the United States has much stronger right now than the economic hand that China has. And I would suspect, as a prediction, I would suspect that the phone lines are buzzing at the White House and that there are a lot of countries that want to unilaterally end their tariffs with the United States.
- [35:03]
Buck Sexton
Well, some already have some. Israel, Israel, for example, which is not a huge trading partner, but it's an important ally and a trading partner. They've come out and said, Prime Minister Netanyahu said, look, we're just, I like where Trump's head is at on this. Let's get rid of it. And we're going to deepen our relationship even more with America on trade. So there's also been a willingness, I think, to renegotiate some of the Canadian tariffs already. This is all, this is already happening. And the other part of this is it's a dynamic. This is what I meant Clay by this can be fixed. Right. This is not a, you know, this is not like the bombing of Pearl harbor where once you start it, you know, it's, it's going right. There's the day to day of how is this looking in the market? What does that other government do to respond? And here's the thing. Whenever, whenever they are upset about this, any country that has a tariff against the United States, on what grounds can they be upset about the United States putting a tariff on their, on their.
- [35:59]
Clay Travis
Items, that's the entire crux of this, right? I mean, really, we're in the right. I mean, Trump, I think in general would prefer just an even playing field for American goods compared to other goods. And so instead of us getting lots of other countries, including China, to your point, I mean, yes, look at the average income In China since 1980, the most of that money. To a large extent, that money is coming off of Chinese goods being able to be bought by Americans and the trade imbalance that that has created.
- [36:33]
Buck Sexton
And then there's. We didn't even get into this yet. We talked. I talked about a bit yesterday, Clay, when you were making Happy Gilmore look like a guy who can't even. Can't hit, you know what I mean? Weeks, weak swing, Happy Gilmore compared to Clay. But we talked about Stephen Miller and how I played some of his explanations of this. There's also a national security component of this. How can anyone tell me it's not just that we get a lot of our. I mean, when I say a lot, I think it's like 80 or 90% of different kinds of antibiotics and other. Whether it's precursors for computer chips or it's just a huge range. I mean, I can't even begin to run off the list of what we rely on China for. Imagine if during the Cold War we said to people, you know what, we need to rely on the Soviets for antibiotics. We need to rely on the Soviets for, you know, simple manufactured goods that are going to be necessary for us in a long conflict. People haven't paid enough attention to this in my mind, Clay. There have been concerns from the US Military, from the Pentagon all along about how long we can even sustain the arms shipments to Ukraine. Stretching our. Think about that. The Ukrainian war is stretching our war supply chain capability. Now, I understand it's far away, but the point is we can't make enough artillery rounds fast enough right now. So domestic industry is more than just whether you can buy cheap flat screen TVs is the point. And I think Stephen Miller's been hitting that point hard.
- [38:12]
Clay Travis
Not only that, I mean, I've raised the question and I think it's a really tough one that nobody has an answer for. What happens if China actually invades Taiwan? If we had a war start? Our reliance on China to produce many of the goods that the United States has to have is actually, I think maybe buck, the largest national security issue we have. Leaving aside. Look, somebody could get a nuclear weapon and set it off somewhere around the world, right? I'm talking about in a state actor situation. The danger of China controlling so much of the flow of American commerce is that if they decided to engage in some nefarious action, we just have to wear it, I think because we don't have the ability to produce our own products without China being involved.
- [38:59]
Buck Sexton
No, I think we rely a lot on the Taiwanese being able to extract such a high price from a Chinese invasion of and what would probably there's a lot of different theories on this. There's a lot of war gaming around this. What China would most likely do, in my view is they would try to just launch missile and you know, airstrikes, missile strikes and pummel the island into submission as much as possible. And then maybe they would try some kind of a amphibious landing operation which, you know, Taiwan is not big compared to China, but it's obviously very sophisticated technologically and it's, it's a rough country to invade. The back eastern half of it, there's a lot, it's very rugged. There's a lot of mountains. I'm just saying we're really relying a lot on the Taiwanese making it ugly for China much more so than I think we would just be able to ride in like the cavalry in a western movie and save the day. Would not be, it would not be easy or fun for anyone. And that's putting it mildly.
- [39:59]
Clay Travis
We'll take some of your calls. We come back 800-282-2882. We got a stacked load of awesome guests including a couple of different senators and a final four coach, among others. Weekend holy grail for college basketball fans. Final four coming, two big games Saturday, championship Monday. You can download the Price Picks app right now. Have so much more fun playing along with the final four. And you know, it's kind of sad. My Atlanta Braves have started off the season. Oh and seven, they have yet to win a baseball game. Padres swept them. Dodgers swept them. Maybe they're finally going to get a win against the buck area. Lowly Miami Marlins playing tonight, I believe. If I'm not mistaken, I think my son's going to be at that game with a bunch of his friends. On the Prizepix app right now you can play along all over the place. You can play in California, you can play in Texas, you can play in Georgia. Get hooked up right now. Prizepix.com Code Clay you get $50 when you play $5. Again, it is prizepix.com Code clay $50 when you pay when you play $5. Prizepix.com code clay MasterCard Visa, Discover. Easy to get your deposits in pricepicks.com Code clay Geek out with the guys on the Sunday Hang with Clay and Buck podcast a new episode every Sunday. Find it on the iHeart app or wherever you get your podcasts.
- [41:19]
Ryan Seacrest
You know how we're always talking about what's next? Well, I found it. It's called Formula E. Forget everything you think you know about racing. This isn't just cars going fast. It's like a supercomputer on wheels. The tech is insane, and the drivers, they're like chess grandmasters at 200 miles per hour. You've got to see it. Trust me, you'll be hooked. Follow Formula E live on Roku next race Miami, April 12 for the next.
- [41:50]
Clay Travis
Four years, maybe more, the name of the game is efficiency and doing more while spending less. And I'm not talking about our government. Private sector desperate to cut unnecessary expenses while still building better products and services and beat the competition.
- [42:03]
Buck Sexton
Over 41,000 businesses are doing just that because they upgraded to NetSuite by Oracle. NetSuite is the number one cloud ERP bringing accounting, financial management, inventory, HR into one efficient suite instead of you paying for multiple Systems.
- [42:19]
Clay Travis
And with NetSuite's AI helping you automate manual tasks, you can free up your most important people to work on strategy, not spreadsheets. NetSuite gives you insights and recommendations in real time. Whether your company's earning millions or even hundreds of millions, NetSuite helps you find efficiency across the entire business. Speaking of which, download the CFO's Guide to AI Efficiency at netsuite.com Clay Guide is free to you at netsuite.com Clay let's get you started towards more efficiency and more success with one more time. N E T S u I t e.com Clay I'm Nate Silver.
- [43:01]
Maria Konnikova
And I'm Maria Konnikova. We're both journalists and professional poker players. And on our podcast Risky Business, we talk about taking risks in everything from poker to politics.
- [43:11]
Nate Silver
And we talk about betting. From betting on elections to betting on your favorite basketball team, we've learned a lot about taking risks through our own research and sometimes even our own bets. And we share what we've learned with you.
- [43:22]
Maria Konnikova
Are you still doing sports betting? I had no idea that you'd wagered over a million dollars for your research.
- [43:28]
Nate Silver
I bet almost the entirety of the 202223 NBA season, all the regular season and about half the playoffs. And I learned that. I mean, it's probably what I should have expected, but I learned that it's pretty hard. I went on a huge heater at the start of the NBA season where it was up like 70,000 bucks. I'm like, man, I'm really good at the sports betting stuff. But then, but then, things change.
- [43:49]
Maria Konnikova
Now that Marge madness is upon us, we're talking bracket strategies and a whole lot more. Join us and listen to Risky business on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.
- [44:03]
Gilbert King
Something unexpected happened after Jeremy Scott confessed to killing Michelle Schofield in Bone Valley season one.
- [44:10]
Buck Sexton
I just knew him as a kid.
- [44:12]
Gilbert King
Long, silent voices from his past came.
- [44:15]
Jeremy Scott
Forward, and he was just staring at me.
- [44:18]
Gilbert King
And they had secrets of their own to share.
- [44:21]
Jeremy Scott
Gilbert King. I'm the son of Jeremy Lynn Scott.
- [44:27]
Gilbert King
I was no longer just telling the story. I was part of it.
- [44:32]
Jeremy Scott
Every time I hear about my dad, it's, oh, he's a killer. He's just straight evil.
- [44:36]
Gilbert King
I was becoming the bridge between a killer and the son he'd never known.
- [44:41]
Jeremy Scott
If the cops and everything would have done the job properly, my dad would have been in jail. I would have never existed.
- [44:46]
Gilbert King
I never expected to find myself in this place. Now I need to tell you how I got here.
- [44:53]
Jeremy Scott
At the end of the day, I'm literally a son of a killer.
- [44:56]
Gilbert King
Bone Valley Season 2 Jeremy.
- [45:00]
Jeremy Scott
Jeremy, I want to tell you something.
- [45:02]
Gilbert King
Listen to new episodes of bone Valley Season 2 starting April 9 on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. And to hear the entire new season ad free with exclusive content starting April 9th. Subscribe to Lava for Good plus on Apple Podcasts.
- [45:19]
Buck Sexton
Welcome back into Clay and Buck. We're talking tariffs. It is post liberation day from earlier this week and the markets are getting clobbered. But you know what? We thought that would happen. Trump thought that would happen. He's very sanguine about the whole thing. Trump's kind of a sanguine guy in general, but he is. He is just. He is just chilling. He is not worried about this. And we have some calls coming in here and some talkbacks coming in here, which I want to get to. Let's see, Kerry, you are first up. Kerry in Holland, Michigan. What's going on?
- [45:53]
H
How are you guys?
- [45:55]
Clay Travis
Good.
- [45:55]
Buck Sexton
Kerry's a great name, by the way. A great name. Some people say maybe the best lady's name. Go ahead.
- [46:01]
H
Yes. Your wife is lovely, Buck.
- [46:03]
Buck Sexton
Thank you.
- [46:06]
H
I am in Holland, Michigan, and I just wanted first I wanted to say I love the show. I listen to you guys every day at work.
- [46:13]
Buck Sexton
Well, you have excellent taste in radio. Thank you.
- [46:18]
H
So I am not happy about seeing my investments go down. Nobody is. I'm pushing 60. I want to retire in a few years. And unfortunately I have to pay attention to the stock market because I work in the financial investments industry. But I understand the strategic calculation. Trump wants to bring manufacturing back to America and he's shocking the system to do it. And ultimately, will it work? I don't know. I don't have a crystal ball. But I understand the strategy and I'm supportive of it right now. I'm not panicking at this point. And let's just see how this plays out. A lot of the people who are yelling at me in my life are people who said nothing during the open border Biden years and everything we found out about the Biden selling us out to China to line their own pockets and now suddenly they're upset. So I just let that roll off of me. But I understand the strategy. I think Trump knows what he's doing. I think he's got a lot of smart people in the room and I'm willing to let it play out.
- [47:19]
Buck Sexton
Carrie, that's how, I mean, that's how I feel too. Clay, you. You co sign on this call?
- [47:23]
Clay Travis
I was just gonna hit a couple more talkbacks. A lot of people weighing in. Great call from Carrie. I just saw a movie about Holland, Michigan, I think with Nicole Kidman. They filmed it here in Nashville. It's literally called Holland, Michigan. I think just. Okay.
- [47:36]
Buck Sexton
She's no Sydney Sweeney, though, Clay.
- [47:38]
Clay Travis
She is no Sydney Sweeney. That's true. She could have been the evil witch. Would have been a good evil witch listener. Jerry, San Diego, what you got for us? Jerry?
- [47:46]
Buck Sexton
I think the terrorists are a good thing. I bought in the market right now while it's getting low. Got a feeling it's going to pay off in the long run. So I'm spying in low and holding, so staying positive with it.
- [47:58]
Clay Travis
Okay, Buck, this just ties in with what we were talking about off air. The average retail investor buying stock. Big hedge funds, big investment banks selling stock. You hit us with that data point, which I thought was kind of interesting.
- [48:10]
Buck Sexton
Yeah, that's what they're reporting right now. And so I guess the, A lot of the financial. Financial wizards who are supposed to be able to time the markets, which Warren Buffett, I would tell you, says nobody can do. But they're getting out, some of them and they're worried because they don't want to have a 20 correction for the next year. Remember, they live quarter to quarter. A lot of other people are talking about retirement, talking about trying to just slowly build wealth by investing in the American economy. Which means, you know, mutual funds, broad based ETFs, things like that. If you're thinking in five or ten year increments, which is, in my opinion, how most day to day investors should be, must be thinking you do not want to be unless you're very sophisticated and have some real insight. Dude, like day trading Clay, we're gonna see who's right and who's wrong. That's the thing. We don't have to guess for long on this one. We're gonna start to see what actually happens. Let's take some more. We got more calls and more talkbacks coming up because it's a big issue. Let's hear from all of you. Light up the lines. We'll come right back.
- [49:10]
Ryan Seacrest
You know how we're always talking about what's next? Well, I found it. It's called Formula E. Forget everything you think you know about racing. This isn't just cars going fast. It's like a supercomputer on wheels. The tech is insane and the drivers, they're like chess grandmasters at 200 miles per hour. You've got to see it. Trust me, you'll be hooked. Follow Formula E live on Roku Next Race, Miami, April 12th.
- [49:40]
Nate Silver
I'm Nate Silver.
- [49:42]
Maria Konnikova
And I'm Maria Konnikova. On our podcast Risky Business, we talk everything from politics to poker and from.
- [49:48]
Nate Silver
Betting on elections to betting on your favorite basketball team. Sports bettors need a bit more street smarts because there's this whole second side to sports betting of how do you actually, how do you get your money down good if people think that you're a winning better. And now that March Madness is upon us, we're talking bracket strategies, odds, how to maybe actually win your office pool. You can listen to Risky business on the iHeartRadio app, Apple Podcast, or wherever you get your podcasts.
- [50:14]
Gilbert King
Something unexpected happened after Jeremy Scott confessed to killing Michelle Schofield in Bone Valley season one.
- [50:22]
Jeremy Scott
Every time I hear about my dad is, oh, he's a killer. He's just straight evil.
- [50:26]
Gilbert King
I was becoming the bridge between Jeremy Scott and the son he'd never known.
- [50:31]
Jeremy Scott
At the end of the day, I'm literally a son of a killer.
- [50:34]
Gilbert King
Listen to new episodes of bone Valley Season 2, starting April 9 on the iHeartRadio app, Apple Podcasts, or wherever you get your podcast.