Canada Blinks First on Tariffs, Ukraine Agrees to Ceasefire, Trump Goes Car Shopping: AM Update 3/12

Summary

The Megyn Kelly Show: Detailed Episode Summary

Episode Title: Canada Blinks First on Tariffs, Ukraine Agrees to Ceasefire, Trump Goes Car Shopping: AM Update 3/12
Release Date: March 12, 2025
Host: Megyn Kelly
Produced by: SiriusXM

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1. US-Canada Trade Tensions Resolved

The episode kicks off with a discussion on the escalating trade tensions between the United States and Canada. President Donald Trump had previously threatened to double tariffs on steel and aluminum imports from Canada, aiming to address what he perceives as unfair trade practices.

Key Points:

• Tariff Standoff: Ontario Premier Doug Ford initially responded to Trump's tariffs with a planned 25% electricity surcharge affecting approximately 1.5 million residents in New York, Michigan, and Minnesota.
• Resolution: Facing the threat of increased tariffs, Premier Ford reversed his decision, canceling the surcharge and agreeing to meet with Secretary of Commerce Howard Lutnick to further discuss trade and tariffs.

Notable Quotes:

• President Trump: "Hopefully President Putin will agree to that also and we can get this show on the road." [00:27]
• Premier Doug Ford: "I apologize to the American people that President Trump decided to have an unprovoked attack on our country, on families, on jobs, and it's unacceptable." [04:00]
• Caroline Levitt (Press Secretary): "President Trump believes in reciprocity and it is about dang time that we have a president who actually looks out for the interests of American businesses and workers and all he's asking for at the end of the day are fair and balanced trade practices." [04:38]

Market Impact: The trade tensions adversely affected the stock market, with the Dow Jones Industrial Average, S&P 500, and Nasdaq all experiencing notable declines. Levitt addressed these concerns by attributing the market fluctuations to a period of economic transition from the previous administration.

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2. Ukraine Agrees to Ceasefire Amid Peace Negotiations

A significant development in the Ukraine-Russia conflict was highlighted, emphasizing Ukraine's agreement to a 30-day ceasefire as part of a broader peace initiative.

Key Points:

• Ceasefire Agreement: Ukraine has consented to a temporary ceasefire, contingent upon Russia taking the next steps toward lasting peace.
• US Involvement: Secretary of State Marco Rubio announced that the US has made an offer accepted by Ukraine, which includes lifting the pause on military and intelligence aid in exchange for the ceasefire.
• Future Negotiations: Special envoy Steve Witkoff is set to present the peace deal to the Kremlin, placing responsibility on Russia to agree to the terms.

Notable Quotes:

• Marco Rubio: "Today we made an offer that the Ukrainians have accepted, which is to enter into a ceasefire and into immediate negotiations to end this conflict in a way that's enduring and sustainable and accounts for their interests, their security, their ability to prosper as a nation. We'll take this offer now to the Russians and we hope that they'll say yes, that they'll say yes to peace. The ball is now in their court." [08:00]
• Donald Trump: "Hopefully President Putin will agree to that also and we can get this show on the road. It's a big difference between the last visit you saw at the Oval Office. That's a total ceasefire. Ukraine has agreed to it and hopefully Russia will agree to it." [08:56]

Contextual Insights: This agreement marks a shift from Ukraine's previous stance, which held out for security guarantees before considering a ceasefire. The new deal also involves the unfreezing of approximately $1 billion in military aid previously held under the Biden administration.

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3. Controversial Deportation of Mahmoud Khalil Sparks Debate

The deportation proceedings against Mahmoud Khalil, a former Columbia University student accused of organizing anti-Israel protests, became a focal point of contention, igniting debates about free speech and governmental overreach.

Key Points:

• Arrest and Charges: Khalil was arrested by ICE after his green card was revoked due to alleged ties with Hamas and involvement in disruptive protests.
• Public Reaction: The deportation has sparked outrage on the political left, with some framing it as a violation of free speech, while others support the administration's stance against extremism.
• Legal Standpoint: Professor Jacqueline Kelly Widmer highlighted that green card holders can be deported without conviction if involved in terrorism-related activities.

Notable Quotes:

• Brooke Rollins (Reporter): "This is extremely unprecedented." [09:49]
• Marco Rubio: "Khalil was in any way cooperating working with Hamas. The idea that he is an extremist or violence is preposterous to anyone who knows him." [10:02]
• Caroline Levitt: "This is an individual who organized group protests that not only disrupted college campus classes and harassed Jewish American students and made them feel unsafe on their own college campus, but also distributed pro Hamas propaganda." [10:42]
• New York Post Reporter: "This is the kind of thing that we are accustomed to seeing really in the world's most repressive regimes. This is the kind of thing that you would expect in a place like China or Egypt or something like that." [10:07]

Administrative Actions: The Trump administration has cut $400 million in funding to Columbia University and is seeking assistance from the institution to identify other individuals involved in pro-Hamas activities on campus.

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4. Escalating Attacks on Tesla and Trump's Endorsement of Elon Musk

The podcast delves into a series of vandalism incidents targeting Tesla vehicles and showrooms, juxtaposed with President Trump's public support for Elon Musk and his automotive endeavors.

Key Points:

• Vandalism Incidents: Multiple Tesla Cybertrucks were torched in Seattle, and similar attacks occurred in North Charleston and Manhattan, involving spray-painted messages and arson attempts.
• Trump's Response: In defense of Elon Musk, Trump announced his intention to purchase a new Tesla, praising the company and Musk's contributions.
• Market Position: Despite challenges, Tesla remains the leader in the US electric vehicle market with a 49% share, significantly ahead of competitors like Ford.

Notable Quotes:

• Donald Trump: "I'm going to buy because number one, it's a great product, as good as it gets. And number two, because this man has devoted his energy and his life to doing this, I think he's been treated very unfairly by a very small group of people because he's able to find billions and billions and billions of dollars of fraud and waste and all of the things, I mean, our country is going to be very strong very soon because of a lot of the things that he's done." [15:01]

Additional Context: The attacks on Tesla locations reflect growing tensions surrounding high-profile figures and their business ventures. Trump's endorsement aims to bolster public confidence in Tesla amidst these challenges.

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5. Fluctuating Egg Prices and USDA's Intervention

Egg prices, a longstanding concern for consumers, experienced a significant decline, which was addressed alongside the USDA's efforts to combat avian flu affecting poultry farms.

Key Points:

• Price Drops: Average egg prices fell by nearly $2 per dozen, making them cheaper than at the onset of Trump's presidency.
• USDA Initiatives: Agriculture Secretary Brooke Rollins announced a $1 billion investment to mitigate egg costs, including funding for biosecurity measures and replacing lost chicken populations due to avian flu.
• Market Manipulation Investigation: The Department of Justice launched an investigation into egg producers for alleged price fixing and market manipulation, contributing to the price reduction.

Notable Quotes:

• Brooke Rollins: "We're seeing some relief. We've got a long way to go. Listen, combating the avian bird flu is not something that we can do overnight. It is a long term effort..." [16:26]
• Caroline Levitt: "The cost of groceries, gas, rent and eggs on day one." [17:29]
• Brooke Rollins: "But today, good news is that the price of eggs seem to be coming down." [16:26]

Economic Implications: The decrease in egg prices provides temporary relief to consumers and is a direct result of both increased governmental intervention and legal actions against potential market manipulators. However, ongoing efforts are necessary to sustain and further this trend.

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6. Other Highlights

• Stock Market Volatility: The Dow Jones, S&P 500, and Nasdaq experienced their worst two-day drops since August, attributed to ongoing trade tensions and economic transitions.

• Fentanyl Crisis: The administration's enhanced crackdown on fentanyl production in Mexico is making strides in reducing synthetic opioid trafficking into the United States, with significant arrests of cartel members reported.

• Media Silence on Egg Price Decline: Despite previous extensive coverage on rising egg prices, the recent decline has not garnered significant media attention, raising questions about media priorities.

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Conclusion

This episode of The Megyn Kelly Show provides an in-depth analysis of several pivotal issues impacting the United States, from international trade tensions and geopolitical conflicts to domestic economic concerns and controversial immigration policies. Host Megyn Kelly, along with her guests, offers a comprehensive overview, incorporating firsthand statements and expert opinions to present a nuanced perspective on each topic. Listeners are left with a clear understanding of the current political and economic landscape, informed by timely quotes and detailed discussions.

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For a more in-depth exploration of these topics, including the ongoing investigation into the disappearance of baby Lisa Irwin, tune into the upcoming special series on the SiriusXM Triumph Channel 111 or visit YouTube.com/megankelly.

Transcript

[Megyn Kelly]

Good morning, everyone. I'm Megyn Kelly. It's Wednesday, March 12, 2025, and this is your AM update.

[Caroline Levitt]

President Trump believes in reciprocity and all he's asking for at the end of the day are fair and balanced trade practices.

[Megyn Kelly]

Canada backs down in the tariff standoff as Ontario's leader cancels a planned retaliatory measure. This after President Trump's threat to double tariffs on steel and aluminum.

[Donald Trump]

Hopefully President Putin will agree to that also and we can get this show.

[Megyn Kelly]

On the road, a crucial step in the peace process. Ukraine agrees to a ceasefire. Now it's up to the Russians to take the next step toward peace. The left erupts over the deportation of Columbia University agitator Mahmoud Khalil and President Trump goes car shopping. All that and more coming up in just a moment on your AM Update.

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[Megyn Kelly]

The House passes the continuing resolution funding the government for the next six months. The bill passing Tuesday evening on a nearly party line vote 217 to 213. Kentucky Congressman Thomas Massie following through on his promise to vote against the bill. In response, President Trump calling to primary Congressman Massie, a move receiving mixed reactions on the right. Speaker Johnson on Tuesday saying he is in the business of defending the incumbent despite his disagreement with Mr. Massie on the CR. The bill now moves to the Senate where it faces complete Democrat opposition. It does require 60 votes to pass. Replacement Republicans only account for 52 yes votes as Kentucky Senator Rand Paul, a Republican says he is also a no. The deadline is 11:59pm on Friday. Otherwise a shutdown looms. Ontario Premier which is like a Governor Doug Ford backing down almost immediately on a 25% electricity surcharge on roughly 1.5 million residents of New York, Michigan and Minnesota. On Tuesday morning, Mr. Ford played tough slapping on the surcharge in response to Mr. Trump's 25% tariff on Canada meant to encourage a crackdown on fentanyl. Mr. Ford saying Americans needed to, quote, feel the pain. We will not back down. We will be relentless. I apologize to the American people that President Trump decided to have an unprovoked attack on our country, on families, on jobs, and it's unacceptable. In response to Mr. Ford's threats, President Trump announcing he would increase aluminum and steel tariffs on Canada to 50% within a matter of hours. Mr. Ford backed down, reversing the surcharge, saying he will meet with Secretary of Commerce Howard Lutnick on Thursday in Washington to further discuss tariffs and trade. Press Secretary Caroline Levitt addressing the matter.

[Caroline Levitt]

On Tuesday, the President is again responding to the fact that Canada has been ripping off the United States of America, America and hard working Americans for decades. If you look at the rates of tariffs across the board that Canadians have been imposing on the American people and our workers here, it is egregious. American cheese and butter, nearly 300% tariff. President Trump believes in reciprocity and it is about dang time that we have a president who actually looks out for the interests of American businesses and workers and all he's asking for at the end of the day are fair and balanced trade practices.

[Megyn Kelly]

Markets struggling under the tariff, turf wars, the Dow Jones closing Tuesday with a 1.1% drop, the S&P 500 with a 0.8% decline and the Nasdaq with a 0.2% fall. Each of the three indices marking their worst two day drop since August. Ms. Levitt responding to concerns first of.

[Caroline Levitt]

All, when it comes to the stock market, the numbers that we see today, the numbers we saw yesterday, the numbers we saw will see tomorrow, are a snapshot of a moment in time. We are in a period of economic transition. We are in a period of transition from the mess that was created under Joe Biden in the previous administration. Joe Biden left this country in an.

[Megyn Kelly]

Economic disaster in the first Trump administration. Success was measured by markets this time around, the President urging Americans to be patient as he says the short term suffering will be worth the long term gains. Despite generally negative attitudes in the media, the Trump tariffs on Canada and Mexico are making inroads toward the President's goal of reducing fentanyl trafficking into the U.S. just ask the New York Times. Yes, the New York Times is the daily podcast embedding with Mexican fentanyl producers to report on the impact of increased government enforcement efforts. And listen to this.

[Reporter]

They said, no, we shut everything down. There is such an intense crackdown by the government right now and we're under so much scrutiny and pressure that we're not cooking anything. We're trying to sell our cars and other property to try to make up for lost income, because nothing is going on here. I mean, obviously the threat of military intervention in any way, even if it's just targeted strikes, is anathema in Mexico. But the threat of tariffs has long seemed much more credible. I have to say, of the two, I think the tariff threat is the one that really spurs the action.

[Megyn Kelly]

Unlike heroin made from poppies and cocaine made from cocoa leaves, fentanyl is a fully synthetic drug made from chemicals. Producing the drug is relatively easy and labs can be set up almost anywhere, which is why up until now it has been such a lucrative option for cartels. President Sheinbaum ramping up police activity, making hundreds of arrests throughout Mexico, including of senior cartel officers. The daily reporting genuine fear among higher level cartel members.

[Reporter]

His hands are trembling in front of us and he said, the only option for me right now is survival. No, we're not cooking. No, we're not making fentanyl. The main thing that has changed from when you were here last is, is that Trump is in office and he's making all of these threats and the Mexican government is cracking down like never before.

[Megyn Kelly]

Fentanyl is the leading cause of drug overdoses in America. More than 450,000Americans have died of synthetic opioid overdoses in the last 10 years. While that number is on a year to year decline, last year, synthetic opioids like fentanyl claimed 55American lives, according to the CDC. Secretary of State Marco Rubio on Tuesday announcing a major update on negotiations with the Ukrainians toward a peace deal.

[Marco Rubio]

Today we made an offer that the Ukrainians have accepted, which is to enter into a ceasefire and into immediate negotiations to end this conflict in a way that's enduring and sustainable and accounts for their interests, their security, their ability to prosper as a nation. We'll take this offer now to the Russians and we hope that they'll say yes, that they'll say yes to peace. The ball is now in their court.

[Megyn Kelly]

This marks a dramatic shift for the Ukrainians who previously resisted a ceasefire until the US was willing to provide security guarantees. Kyiv agrees to a 30 day ceasefire and in exchange the US will lift the pause on sharing military and intelligence aid with Ukraine. CBS News reporting. The unfrozen military aid includes about 1 billion in equipment approved under the Biden administration. The agreement also says Ukrainian President Volodymyr Zelensky and President Trump will sign the minerals deal as soon as possible. President Trump responding optimistically Tuesday afternoon.

[Donald Trump]

Hopefully President Putin will agree to that also and we can get this show on the road. It's a big difference between the last visit you saw at the Oval Office. That's a total ceasefire. Ukraine has agreed to it and hopefully Russia will agree to it.

[Megyn Kelly]

Special envoy Steve Witkoff will be traveling to Russia to present the deal to the Kremlin. A hearing set today in the deportation case of former Columbia University student and campus agitator Mahmoud Khalil. Mr. Khalil arrested by ICE on Saturday afternoon after his green card was revoked. His deportation paused by a federal judge pending a further hearing. The arrest igniting a firestorm on the left and some on the right even questioning it, framing it as a free speech issue. With Mr. Kahlil the victim of an authoritarian regime.

[Brooke Rollins]

This is extremely unprecedented.

[Megyn Kelly]

The government has not provided evidence that.

[Marco Rubio]

Khalil was in any way cooperating working with Hamas. The idea that he is an extremist.

[Megyn Kelly]

Or violence is preposterous to anyone who knows him.

[Reporter]

This is the kind of thing that we are accustomed to seeing really in the world's most repressive regimes. This is the kind of thing that you would expect in a place like China or Egypt or something like that.

[Megyn Kelly]

Mr. Kahlil, currently held in a Louisiana detention facility. Cornell immigration law professor Jacqueline Kelly Widmer tells the Apostle green card holders do not need to be convicted of something to be removable when the offending action relates to terrorism. The White House stating the decision was made following this man's role in organizing last year's violent and disruptive anti Israel protests at Columbia.

[Caroline Levitt]

This is an individual who organized group protests that not only disrupted college campus classes and harassed Jewish American students and made them feel unsafe on their own college campus, but also distributed pro Hamas propaganda. And this administration is not going to tolerate individuals having the privilege of studying in our country and then siding with pro terrorist organizations that have killed Americans.

[Megyn Kelly]

The New York Post reporting Mr. Kahlil was born in Syria in 1995 and briefly served as a political affairs officer with the UN's Relief and Works Agency for Palestinian refugees. Multiple reports in 2024 revealed ties between that group and Hamas, a group the US Recognizes as a terrorist organization, ultimately leading the Biden administration to cut funding for this UN group. As a Columbia student, Mr. Khalil served as a student negotiator for the Columbia University apartheid divest group. The New York Post reports that group sympathizes with terror groups like Hamas and Hezbollah and calls for the end of Western civilization. End quote. The Columbia group's public Instagram showing hundreds of images calling for disruptive student actions. Dozens of photos showing men and women donning Palestinian keffeys. A cartoon image of a young black child throwing a Molotov cocktail captioned resist all colonial powers. Resist white supremacy. Another advertising a protesting skills seminar. One advertising a vigil titled All Martyrs have a Name. The Trump administration has vowed to crack down on illegal protesting, saying Mr. Khalil is just the first of many to come.

[Caroline Levitt]

Columbia University has been given the names of other individuals who have engaged in pro Hamas activity and they are refusing to help DHS identify those individuals on campus. And as the President said very strongly in his statement yesterday, he is not going to tolerate that.

[Megyn Kelly]

The Trump administration has already cut 400 million in funding to the university. Coming up, President Trump goes car shopping. And the media is suspiciously silent on one of their recent favorite subjects. Egg prices.

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[Megyn Kelly]

Today, four Tesla cybertrucks torched in Seattle. The suspect and motive not yet identified, though it follows a similar pattern across the country of attacks against Elon Musk's electric car company. In North Charleston last week, a masked vandal spray painted F. Trump. Long live Ukraine. Near Tesla charging stations before launching Molotov cocktails at the station. The local NBC outlet reporting witnesses say the suspect caught his own back on fire while fleeing the scene. In Manhattan, protesters gathered outside a Tesla showroom in a swanky West Village chanting against Elon Musk's involvement with Doge and the Trump administration. These incidents just a few examples of similar disturbances and disruptions against Tesla locations in recent weeks. President Trump backing Elon Musk on Tuesday with the purchase of a brand new Tesla.

[Donald Trump]

I'm going to buy because number one, it's a great product, as good as it gets. And number two, because this man has devoted his energy and his life to doing this, I think he's been treated very unfairly by a very small group of people because he's able to find billions and billions and billions of dollars of fraud and waste and all of the things, I mean, our country is going to be very strong very soon because of a lot of the things that he's done.

[Megyn Kelly]

Despite increasing competition, Tesla leads the US electric vehicle market with approximately 49% of sales. In second place, Ford at just 8% of recent sales. Egg prices making like Humpty Dumpty and having a great fall. Average prices falling by nearly $2 a dozen now cheaper than when President Trump took office. Egg prices have been steadily rising over the past several years due to increasing inflation and widespread outbreaks of avian flu. Under the Biden administration, prices increased by 22% and kept rising under President Trump. The drop in prices coming two weeks after Agriculture Secretary Brooke Rollins announced a $1 billion investment aimed at reducing egg costs. And just days after the DOJ launched an investigation into egg producers for alleged price fixing and market manipulation. Secretary Rollins telling FOX Business the work is just getting started.

[Brooke Rollins]

We're seeing some relief. We've got a long way to go. Listen, combating the avian bird flu is not something that we can do overnight. It is a long term effort. But the Biden administration, this was a major problem that they had two years ago. They talked about it, they wrote some plans about it and then nothing ever happened. So I think that it's really important to know and for your viewers that we are on it, we have a major plan. We've rolled out. As you mentioned, it's got five different points, but the really piece of at least right now, today, good news is that the price of eggs seem to be coming down.

[Megyn Kelly]

Forbes reporting the avian flu outbreak began in February 2022. Since then, an estimated 166 million chickens have been culled under USDA policy. The administration's plan increases funding for biosecurity measures to prevent further spread of the flu and increases funding to replace lost chicken populations, among other measures. The increasing cost of eggs a major focus for Democrats and the media since January 20, this president ran on lowering.

[Caroline Levitt]

The cost of groceries, gas, rent and eggs on day one.

[Megyn Kelly]

It has been a huge betrayal of.

[Caroline Levitt]

That one promise that he made to the American people.

[Megyn Kelly]

We have corruption up, we have chaos up, and we have costs up. Ask anyone in the egg aisle.

[Reporter]

So the price of eggs is up.

[Marco Rubio]

Americans are struggling when it comes to.

[Megyn Kelly]

The cost of eggs. After months of breathless reporting on high prices, the sudden decline doesn't seem to interest the media or Democrats. Go figure. And that'll do it for your AM Update. I'm Megyn Kelly. Join me back here all week for our special series, Megyn Kelly Investigates on the disappearance of baby Lisa Irwin, a 10 month old girl who disappeared from her crib in the dark of night. It will air on SiriusXM Triumph Channel 111 at noon east on YouTube.com megankelly and on all podcast platforms on the Megyn Kelly show feed.

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