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- [00:02]
Narrator
Something unexpected happened after Jeremy Scott confessed to killing Michelle Schofield in Bone Valley season one.
- [00:09]
Gilbert King
Every time I hear about my dad is, oh, he's a killer. He's just straight evil.
- [00:14]
Narrator
I was becoming the bridge between Jeremy Scott and the son he'd never known.
- [00:18]
Gilbert King
At the end of the day, I'm literally a son of a killer.
- [00:21]
Narrator
Listen to new episodes of bone Valley Season 2 starting April 9th on the iHeartRadio app app Apple Podcasts or wherever you get your podcasts.
- [00:31]
Clay Travis
The Team 47 podcast is sponsored by.
- [00:34]
Buck Sexton
Good ranchers making the American Farm strong again.
- [00:39]
Clay Travis
Team 47 with Clay and Buck starts.
- [00:43]
Buck Sexton
Now that it is liberation Day. And that refers to the tariffs. Now, there's a whole bunch of tariffs. White House has put out a lot of information about this. There's a whole bunch of tariffs that are taking effect. Here's what we know. President Trump. This is from the White House. President Trump invoking his authority under the International Emergency Economic Powers act of 1977 to address the emergency posed by the large and persistent trade deficit that is driven by the absence of reciprocity in our trade relationships and other harmful policies like currency manipulation and exorbitant value added taxes. That tax perpetuated by other countries. Under this IEEPA authority, President Trump will impose a 10% tariff on all countries going into effect April 5th. And then President Trump will impose an additional reciprocal tariff on countries with which the United States has the largest trade deficits. All other countries will continue to be subject to the original 10% that will take effect April 9th. And now there's more specificity about this and it goes into U.S. mexico, Canada, agreement, how that plays into this. So there are some, some goods are not part of the reciprocal tariff. Steel, aluminum, auto parts. Okay, so there's a lot of stuff going on and it's big. I, I'm not going to sit here and act like this is small potatoes. It's a big deal economically. And I think that first off, the best way to do this is to allow President Trump to make the case to you based on what he said yesterday about why this is necessary. I think it's unrealistic that there are people out there. Well, first of all, there are people who. All they want to do is complain about Trump. Not just Democrats. There's some Republicans, too, who seem like they only want to complain about find something even, no matter how minute. Remember, remember signal gate a week ago? Oh, my gosh, there was a journalist. The strikes all happened, but a journalist found out. But he didn't Say anything. You know, come on. Here's what's going on right now. Trump is trying to reorient a substantial component of our economy to create long term benefit for the American people. Now here is President Trump yesterday. I wanted you to hear this. This is, this is clips a little over a minute long. I wanted you to hear though, why are we doing this? Let's get into it. Let's hear from the man himself. He is absolutely committed to this. He believes in it to his core. He has believed in it for a very long time. Why are we doing this? Liberation Day remarks yesterday from Trump play cut one.
- [03:34]
Donald Trump
In the coming days, there will be complaints from the globalists and the outsourcers and special interests and the fake news, always fake news will always complain. But never forget every prediction our opponents made about trade for the last 30 years has been proven totally wrong. They were wrong about nafta. They were wrong about China. They were wrong about the Trans Pacific Partnership, which would have been a disaster if I didn't terminate it. If I didn't turn that, terminate that. United Auto Workers, you would have had no jobs in this country. You would have had no jobs, jobs. It was all going to other countries in my first term. They said tariffs would crash the economy. Instead, we built the greatest economy in the history of the world. And again, I have great respect for President Xi of China, great respect for China. But they were taking tremendous advantage of them, of us. And I commend them for that. I say, hey, if you can get away with it, that's okay. But you know, they understand exactly what's happening. And they probably, most of them are saying it's about time they did something. But, and they're going to fight and they're going to fight fair. Everyone's going to fight. You know, it's like I say to the leaders, look, you got to take care of your country, but we have to start taking care of our country now. We can't do what we've been doing for the last 50 years.
- [04:57]
Buck Sexton
Okay, now let's, let's take this apart a little bit and get into what he's saying. And notice I've been saying it to you for a long time. But just in advance of those remarks, what he, I had made the same case to you, which is that Trump has been right when it comes to big issues of trade, commerce, big issues of commerce, where the consensus such as that exists. You know, you can always argue what is the consensus and why do we think there is even such a thing? But such as it exists was wrong. It was wrong on China. Here, here's. You know, Trump came into office in 2016, and on China, China, he was taking positions that they said, oh, it's going to lead to a trade war. But we could even take it further back than that. It had been for decades before Trump even thought about or was really considering seriously running for president. I'm going back. You go back to the 80s, go back to the 90s. It had been the international elite consensus that if we just give China what it wants when it comes to trade, it will liberalize and democratize over time and everybody will win. And they let it in the wto, World Trade Organization. That was completely wrong. Right. There are a lot of different experts and think tanks and everything who for a long time were taking the position that all you have to do is just open up your markets to China. And as China buys our Coca Cola and as China starts importing all of our cheap stuff made in huge factories here, they're going to be all about human rights and democracy and freedom. Just give it time. Totally wrong. There's been no real evidence of that whatsoever. In fact, the opposite, you could argue, has occurred. And China has become more belligerent, more bellicose, more difficult to deal with as it has become wealthier. So we made China rich under the auspices of, this is going to help us and it's going to help national security. And, oh, that means that we're aware that trade and national security are things that intersect and that some things that are in your national security interest are not necessarily completely in your immediate trade interest, like being able to make your own antibiotics, being able to produce enough of your own microchips, you know, go down the line, a whole range of things. But we'll get more into that. Trump, though, sees this and he. It takes somebody like him who is willing to put this kind of political capital on the line to take this kind of a risk. And I will. I will be clear with you about this. It's a risk. It's a risk economically, financially for the country. But I think a couple things about it. One, it makes sense to me as he explains it, and as we see what's happening, there already have been countries. Just yesterday, Israel, Prime Minister Netanyahu said, look, we're getting rid of all. You know what? He's right. Let's get rid of all trade barriers with the United States and let's just continue to build that special relationship. Great. Look at that. There are other countries as well that have backed off a tariff that they have or they're, you know, this is all part of a negotiation. So as we go into some of the details here and I'll, I'll play more from Trump and more from Stephen Miller. Uh, yeah. Massive change is going to feel unsettling for people for a little bit. It's not going to just happen overnight and be perfect. But if you want to fix things, you have to be willing to take the actions to fix them and be in a position to do so. And like I said, Trump is willing to do this. He could be on the golf course with Clay right now. Hang. I mean, he actually might be, but I don't think he. I'm like, is he is claying his force him. But I'm, but I mean, he could be hanging on the golf course forever. He, he could just be. He's got billions of dollars, got grandkids and family and you know, he, he could just sail off into the sunset and enjoy himself at Mar a Lago. But instead he has taken it upon himself to try to do something incredibly important for the future of the country because he truly believes, believes in it. And he has, I have to look at the record here. He has been right on areas where the economic consensus has been against him. That is a fact. And so on this one, again, there are a lot of people, and there are some people that I respect a lot and like a lot on the right who are very concerned about this. And to them I just say, I think Trump has made a strong enough case and is in a strong enough position politically where. Let the man cook, let him do what he does. Let's see how he negotiates. Even Bill Ackman, right, who's a kind of a recent convert to the center, I would say he used to be a Democrat, Hillary supporter, etc. Bill Ackman is a multi billionaire hedge fund guy, investor guy, and he's along with Elon and some of these other very wealthy, very high IQ individuals, have realized Democrat party's insane. They're a bunch of lunatic, gender identity obsessed communists. So he says if you're going to be common sense, or he's seen if you're going to be common sense, you have to be a Republican. There's no other major political party for you to support right now. Maybe he calls himself an independent, I don't know. But I thought this was very, very astute observation from Bill Ackman. He, he put out on X. Sometimes the best strategy in a negotiation is convincing the other side that you are Crazy. Now I know some of you might be like, hey, Trump's not crazy. Well, yeah, he's not crazy, obviously. He's crazy like a fox in this context. Meaning he's a guy who needs the other side to believe that he's willing to do things that, that were impossible for American leadership to consider before, that there could be consequences and that's that. So that's a, that's a part of this. I've said to you before, I've explained, you know, we were just talking about who is the actor, I'm blanking on his name, who just, just passed away, who is in heat? Val Kilmer. Thank you. Val Kilmer. Val Kilmer's best role in my opinion. You can argue, I know some of you are going to say the doors, but I think Val Kilmer's best role for me is Tombstone where he plays Doc Holliday. And there's a great scene, I've mentioned this to you before in the context of foreign policy with Trump. I think it applies here too, where Wyatt Earp, very competently, very well played by Kurt Russell. They kind of, they throw the, the double barreled shotgun when they're about to have the shootout in the OK Corral. They didn't know it was going to be shootout, but they were preparing. He throws the shotgun and he goes, let's put Doc on the street. Howitzer. They might have less itchy trigger fingers as a result, something like that. Right. But let's put Doc Holliday on the street. Howitzer. Being you want the crazy guy with the bazooka is basically the idea in this analogy. Trump is the crazy guy with the bazooka on trade. You want, you want to play this game with him or you want to be reasonable? You want to be fair? You want to deal with the reciprocal tariffs? You know, for a guy who has survived two assassination attempts, two impeachments, you know, four baloney criminal trials. Beat the Hillary machine, beat the Biden, you know, Kamala machine. I think he's earned the right to try this his way and at least have those of us who have believed in him all along look at this and say, let's see what he can do. And just remember this catastrophism and selling panic. It's just such a cheap way of getting attention for so many people. It's, oh, you know, the sky is falling stuff. Cheap way of getting attention. Cheap way of having people think that you have something worthwhile to say. Stock market's gone down. Look at the stock market. It hasn't gone down in any meaningful way really since 2008 other than the pandemic drop. And the pandemic drop was completely a self inflicted wound. And anybody like me who was paying attention was like, well, this is going to be great because people are going to realize this is like a cold and we should just go back about our lives. And there's no, you know, the economy isn't destroyed by the pandemic. That was just lunatics who made it anyway. So, yeah, there may be, there may be something of a, of a drop in the stock market for a bit. I believe it will be temporary. Look, if it's not temporary, then the American people can go and vote and they can hold Trump and the Republicans accountable for this decision the next time around. I think they're going to say when it comes time for that, wow, what leadership. Look at how things are going better for us now. And that's what leadership is. When you have what you believe truly based on all your wisdom and all of your life experience and all of your expertise, this is the right thing to do. It's in the best interest of the people I lead and I'm going to do it because of that. I'm not going to sit around and, you know, oh, which way is the wind blowing? So this is what Liberation Day is about.
- [14:20]
Narrator
Something unexpected happened after Jeremy Scott confessed to killing Michelle Schofield in Bone Valley season one.
- [14:28]
Buck Sexton
I just knew him as a kid.
- [14:30]
Narrator
Long, silent voices from his past came.
- [14:33]
Gilbert King
Forward and he was just staring at me.
- [14:36]
Narrator
And they had secrets of their own to share.
- [14:39]
Gilbert King
Gilbert King. I'm the son of Jeremy Lynn Scott.
- [14:45]
Narrator
I was no longer just telling the story. I was part of it.
- [14:49]
Gilbert King
Every time I hear about my dad, it's, oh, he's a killer. He's just straight evil.
- [14:54]
Narrator
I was becoming the bridge between a killer and the son he'd never known.
- [14:59]
Gilbert King
If the cops and everything would have done their job properly, my dad would have been in jail. I would have never existed.
- [15:04]
Narrator
I never expected to find myself in this place. Now I need to tell you how I got here.
- [15:11]
Gilbert King
At the end of the day, I'm literally a son of a killer.
- [15:13]
Narrator
Bone Valley Season 2 Jeremy.
- [15:17]
Gilbert King
Jeremy, I want to tell you something.
- [15:20]
Narrator
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.
- [15:39]
Clay Travis
You're listening to Team 47. With Clay and Buck, 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 4.
- [16:05]
Bernie Sanders
What they have said is that we need to not worry about manufacturing in America because what we should establish is a policy of unfettered free trade. We don't need tariffs. What we need is to allow corporate America the freedom, the freedom to throw American workers out on the street. People are making 15, 20, 25 bucks an hour. Health care, pensions, throw them out on the street. Because somehow, Madam President, we are going to create wealth in America and good paying jobs in America. As we shut down plants, we move to China, corporations there pay workers 20, 30 cents an hour and we bring the product back into this country.
- [16:50]
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.
- [17:25]
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, 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 going to change the border and he did. And as we've talked about, Clay, huge success. He said he was going to 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't say whoopsie after that. I mean, this is about an ongoing negotiation, two things.
- [20:07]
Clay Travis
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 since 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 a 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 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 and trade agreements with China? This is cut six Barack Obama 2018.
- [22:14]
Barack Obama
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.
- [22:49]
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 this is 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.
- [23:21]
Buck Sexton
Well, some already have some.
- [23:23]
Clay Travis
Israel.
- [23:24]
Buck Sexton
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 items?
- [24:18]
Clay Travis
That's the entire crux of this, right? I mean, it's 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.
- [24:50]
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? 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, 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.
- [26:30]
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.
- [27:17]
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. Would most likely do in my view is they, 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 that 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. For anyone. And that's putting it mildly.
- [28:18]
Narrator
Something unexpected happened after Jeremy Scott confessed to killing Michelle Schofield in Bone Valley Season one.
- [28:25]
Gilbert King
Every time I hear about my dad is? Oh, he's a killer. He's just straight evil.
- [28:30]
Narrator
I was becoming the bridge between Jeremy Scott and the son he'd never known.
- [28:34]
Gilbert King
At the end of the day, I'm literally a son of a killer.
- [28:37]
Narrator
Listen to new episodes of bone Valley, Season 2, starting April 9 on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.