Podcast Summary: The Clay Travis and Buck Sexton Show Episode: Normally Podcast: Trump's Tariffs Are Here...Now What?! Release Date: April 8, 2025

Introduction

In this episode of The Clay Travis and Buck Sexton Show, hosts Mary Kathryn Hamm and Carol Markowitz delve into the resurgence of trade tariffs under the Trump administration. Titled "Trump's Tariffs Are Here...Now What?!", the episode explores the implications of these tariffs on the U.S. economy, the stock market, and international trade relations. The discussion is rich with insights, differing perspectives, and notable quotes that shed light on the current economic climate.

Resurgence of Tariffs and Market Reactions

Mary Kathryn Hamm ([04:02] MM): "If you're trying to solve every trade deficit, we're going to be in trouble."

Carol Markowitz ([04:20] CM): "America had an exciting weekend. The tariff thing really came to a head after we recorded our last episode."

The hosts begin by addressing the recent implementation of tariffs by President Trump, highlighting the immediate negative reaction from the stock market. CM notes the volatility, saying, "The stock market had a real bad day on Friday and it's not having a great day today" ([04:20]).

Mary Kathryn Hamm adds, "There's a significant percentage of people who have investments in the stock market, including those who had a working-class or a government career and have pensions that are invested in the stock market" ([05:54]). This underscores the widespread impact of the tariffs beyond traditional investors.

Impact on International Trade and Manufacturing

CM: "The question going forward is who do we want to be? And I don't see why we want to be a manufacturing hub."

The discussion shifts to the broader implications of the tariffs on international trade. CM questions the strategic direction of the U.S., debating whether a return to manufacturing dominance is beneficial or sustainable in the current global economy.

MM counters, "I don't find the trade deficit inherently to be a problem... If we're trying to solve every trade deficit, we're going to be in trouble" ([08:36]). She argues that not all trade deficits are detrimental and that strategic management is crucial.

Strategic Use of Tariffs and Policy Goals

MM: "Remember ultimately what the goal here is to achieve a more balanced trade with the rest of the world" ([12:00]).

CM introduces a perspective from John Carney, a finance and economics editor at Breitbart, sharing his support for the tariffs as a tool to address trade imbalances. This segment includes a critical analysis of how tariffs are being used as strategic measures rather than mere economic tools.

MM elaborates, "We are not going to absorb these surpluses anymore. We are going to put a tariff on you. If you start to bring down your tariff barriers... then we will lower the reciprocal tariff" ([12:00]). This highlights the transactional nature of the current tariff strategy.

Consequences of the Tariff Strategy

CM: "Being the one making the rules, all the other people have no idea what you're going to do next. That is a formula for having people hang on to their money until they figure out what you're going to do" ([16:08]).

MM expresses concerns about the unpredictability introduced by the tariff strategy, emphasizing the market's uncertainty and its ripple effects on everyday goods and services: "It will affect goods at some point as well. Beyond the markets" ([16:54]).

The hosts discuss legislative responses, mentioning a Senate bill sponsored by Grassley and its companion in the House by Representative Don Bacon, aiming to reclaim congressional authority over tariff decisions ([17:12]). MM voices skepticism about the use of emergency powers, paralleling the recent Covid pandemic measures: "He's saying this is a trade emergency. I don't believe it's a trade emergency" ([17:15]).

Economic Theories and Opinions

CM references economist Thomas Sowell, criticizing the current tariff approach as ruinous and indicative of a broader trade war: "He’s using these tariffs to get various strategic things settled and that he's satisfied with that" ([15:39]).

MM challenges the sustainability of Trump's approach, questioning whether the strategy effectively addresses underlying issues or merely creates short-term disruptions: "I'm not sure we're fixing the problem that we're trying to fix" ([09:24]).

The discussion includes personal anecdotes about the real-world impact of tariffs, such as the spike in bathroom tile prices during the initial Trump tariffs and the broader effects on consumer goods and employment.

Political and Social Implications

Transitioning from economics to politics, the hosts touch on recent protests and political unrest. CM notes, "There were protests... They didn't seem as motivated. They seemed less clear" ([21:15]).

The conversation highlights violent incidents associated with protests, reflecting growing tensions and the potential for increased polarization: "A pro-life reporter was punched in the face in Harlem over the weekend" ([23:11]).

MM emphasizes the role of voting as a more powerful tool than protests in effecting change: "What's even more powerful than nationwide protests? The voting. The voting" ([22:33]).

Violent Rhetoric and Public Safety Concerns

CM shares alarming statistics from the Network Contagion Research Institute, revealing that over 55% of left-leaning respondents see some justification for killing President Trump: "[...] Over 55% of left-leaning respondents felt there was some justification for killing President Trump" ([25:46]).

MM discusses the dangerous trajectory of escalating violent rhetoric, urging for Democratic leaders to temper the discourse: "Democratic politicians need to be at the forefront of that saying violent rhetoric is not going to be okay" ([25:46]).

The hosts express deep concerns about the potential for increased violence and the undermining of civil discourse, emphasizing the need for responsible leadership to mitigate these risks.

Concluding Thoughts

In wrapping up, CM and MM reflect on the complexities of the current political and economic landscape. They call for measured responses to tariffs and a return to constructive political engagement through voting and dialogue rather than protests and violence.

CM: "When things get weird, act normally" ([37:34]).

MM reinforces the importance of adaptability and resilience in both personal and national contexts, encouraging listeners to navigate the turbulent times with composure and strategic thinking.

Notable Quotes

• Mary Kathryn Hamm ([05:54]): "There's a significant percentage of people who have investments in the stock market, including those who had a working-class or a government career and have pensions that are invested in the stock market."

• Carol Markowitz ([15:39]): "It's painful to see a ruinous decision being repeated now insofar as he's using these tariffs to get various strategic things settled and that he's satisfied with that."

• Mary Kathryn Hamm ([16:54]): "It will affect goods at some point as well. Beyond the markets."

• Carol Markowitz ([25:44]): "Over 55% of left-leaning respondents felt there was some justification for killing President Trump. It's a real powder keg and I think we need to be way more worried about it."

Conclusion

This episode of The Clay Travis and Buck Sexton Show provides an in-depth analysis of the current tariff situation under President Trump, examining its economic impacts, political ramifications, and the societal tensions it exacerbates. Through a balanced discussion, Hamm and Markowitz offer listeners a comprehensive understanding of the complexities surrounding trade policies and their far-reaching consequences.

Note: This summary intentionally omits advertisements and non-content segments to focus solely on the substantive discussions within the episode.