Rep. Moskowitz on Trump Tariff Disaster

Summary

The MeidasTouch Podcast: Rep. Moskowitz on Trump Tariff Disaster
Release Date: April 6, 2025

In this compelling episode of The MeidasTouch Podcast, host Ben Shapiro engages in a deep and insightful conversation with Congressman Jared Moskowitz of Florida. The discussion centers around the detrimental effects of former President Donald Trump's tariff policies on the American economy, the stock market, and everyday Americans. Through a blend of expert analysis, personal anecdotes, and poignant quotes, the episode sheds light on the ongoing economic turmoil attributed to these tariffs.

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1. Market Downturn Amid Tariff Implementation

Timestamp [01:30] | Congressman Jared Moskowitz:
Congressman Moskowitz opens the dialogue by highlighting the severe decline in major stock indices:
"Once again, the Dow was down 2,200 points, the S&P down 322 points, the NASDAQ down 962 points. And of course, this follows another horrific day."
He underscores the immediate negative impact of Trump's tariff strategies, pointing to statements made by administration officials that liken America's economic strategies to those of countries like Vietnam and Cambodia.

2. Unveiling the Tariff Strategy

Timestamp [02:14] | Laurie Chavez-Darimer (Clip):
A clip from Laurie Chavez-Darimer, former Congresswoman and Trump's labor secretary, is played:
"Just to take one example, I was hearing about, you know, companies that make shirts and garments in Vietnam and Cambodia... the labor cost is so much cheaper overseas... we're going to onshore repatriate some of these companies to invest in America directly so that we can build that workforce."

Timestamp [03:09] | Congressman Jared Moskowitz:
Moskowitz critiques this approach, stating:
"They want to make America like Cambodia and Vietnam. That's part of the plan... This is affecting all Americans, but in your congressional district as well, people in their retirement living off their life savings and 401ks... It's all very bad."

3. The Economic Fallout Explained

Timestamp [04:33] | Ben Shapiro:
Shapiro delves into the specifics of the economic fallout:
"I think we need to separate the goal from the execution. The goal of increasing manufacturing is a bipartisan goal... But this execution of what they're doing is batshit crazy... He's made that happen. He literally wiped away trillions of dollars from the US Economy."

He further explains how tariffs act as a tax on the American people, disrupting supply chains and increasing costs for consumers.

4. Personal Anecdotes and Real-World Impact

Timestamp [09:18] | Congressman Jared Moskowitz:
Using a relatable analogy, Moskowitz compares the situation to an episode of Family Guy:
"It's like those old Family Guy things where you keep seeing more and it just kind of gets worse and worse... he's playing golf while the market's crashing."

Timestamp [10:53] | Ben Shapiro:
Shapiro emphasizes the tangible effects on everyday Americans:
"People are being affected... Business owners are having orders canceled. People are pulling back their money from the economy... We have a 60% chance of recession, so better than 50% chance."

5. Political Accountability and Future Uncertainties

Timestamp [13:04] | Congressman Jared Moskowitz:
Moskowitz stresses the need for political accountability and legislative action:
"There is a Republican senator that's put a bill forward that this would require congressional approval... You can't have a tax increase on the American people without congressional approval."

Timestamp [13:28] | Ben Shapiro:
Shapiro acknowledges Moskowitz's efforts and underscores the importance of truthful leadership:
"Keep doing what you're doing. Congratulations on being number one. People are coming to you guys for the real stuff now."

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Key Takeaways

• Tariff Policies' Immediate Impact: The implementation of Trump's tariff policies has led to significant declines in major stock indices, indicating widespread economic instability.

• Undefined Economic Strategy: Claims that America will emulate the manufacturing models of countries like Vietnam and Cambodia lack clear, actionable plans, leading to market confusion and decline.

• Bipartisan Goals vs. Execution: While increasing domestic manufacturing is a shared goal across political parties, the current execution under Trump's administration is criticized for its detrimental economic effects.

• Real-World Consequences: Everyday Americans, especially those nearing or in retirement, are bearing the brunt of these policies through reduced savings and investment losses.

• Call for Legislative Oversight: There is a pressing need for congressional approval of tax increases and tariffs to ensure accountability and protect the interests of American citizens.

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Notable Quotes

• Rep. Jared Moskowitz [01:30]:
  "They want to make America like Cambodia and Vietnam. That's part of the plan."

• Ben Shapiro [04:33]:
  "Tariffs are a tax. This is gonna be a tax on the American people."

• Rep. Jared Moskowitz [09:18]:
  "He's playing golf while the market's crashing."

• Ben Shapiro [10:53]:
  "We have a 60% chance of recession, so better than 50% chance."

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Conclusion

This episode of The MeidasTouch Podcast offers a critical examination of Trump's tariff policies through the knowledgeable lens of Congressman Jared Moskowitz. The discussion highlights the severe economic repercussions of these policies, the lack of strategic clarity, and the urgent need for legislative intervention to mitigate further damage. For listeners seeking an in-depth analysis of current economic challenges and political accountability, this episode serves as a valuable resource.

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Transcript

[Ben Shapiro]

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[Congressman Jared Moskowitz]

Absolutely crashed on Friday. Once again, the dow was down 2,200 points, the S&P down 322 points, the NASDAQ down 962 points. And of course, this follows another horrific day. On Thursday, Donald Trump sent his propagandist from the his regime out on FOX to give these very bizarre statements after the fact. Like his labor secretary, Laurie Chavez Darimer, former congresswoman, she says what the goal of all of this is is to try to bring the kind of manufacturing jobs that exist in Vietnam and Cambodia. And she says that Americans are going to be working those jobs very soon. Here, play this clip.

[Laurie Chavez-Darimer]

Just to take one example, I was hearing about, you know, companies that make shirts and garments and Vietnam and Cambodia, that it's very difficult. There are certain things that we ramp up fairly quickly. As I said a moment ago about, you know, car manufacturers and lines that they can kind of kick open fairly quickly. But will American workers make shirts and garments for the same? You know, obviously the labor cost is so much cheaper overseas in those places. So how's that going to work? Secretary well, I think that that's exactly what the president talked about in the Rose Garden when he was talking to the American worker and to the people in saying, we're going to onshore repatriate some of these companies to invest in America directly so that we can build that workforce, we can retrain, we can upskill, and we can have the American worker be paying attention to what's happening on the ground.

[Congressman Jared Moskowitz]

They want to make America like Cambodia and Vietnam. That's part of the plan. Also, you see the stock ticker there showing 38,000. Just a few weeks ago, it was 44, 45, 30, heading to 50,000. Here's by the way, Senator Sheehy of Montana talking about again, it's gonna be a lot of pain, but it's going to teach us all to be self sufficient. And Americans need to learn how to become self sufficient. We were too reliant on world economies. Here, play this clip.

[Laurie Chavez-Darimer]

How are, how is that gonna impact our access to those things, Senator?

[Congressman Jared Moskowitz]

It's certainly gonna have a negative impact shortly. But the reality is, Martha, this is because generations of us incentivizing companies to invest el. And that's exactly what the President is trying to do, is bring critical industries back to America. Because when we have our next national emergency, whether it's a world war or whether it's another pandemic, we have to be able to be, we need to become more self sufficient. He said at the end of the clip, let's bring in Democratic Congressmember Jared Moskowitz from Florida. Congressman. More self sufficient. More like Vietnam and Cambodia. All I'm seeing are the markets crashing every single day and especially from where you're at. And that's affecting all Americans, but in your congressional district as well, people in their retirement living off their life savings and 401ks. I mean, what Trump and Mag is doing, it's disastrous.

[Ben Shapiro]

Yeah. So. Well, first, Ben, since I'm three hours ahead of you from the future, it's not good over here. 2200 points and still going. We're getting close to the closing bell. It's not funny, actually. What's happening, what happened yesterday, what happened today. And, and look, let me say a couple of things. I think we got to separate this debate. Okay. So, yes, during COVID when I was the Director of Emergency Management in Florida, I had to buy products from all over the world. It was frustrating. Medicine, things of that nature. Okay. We did have supply chain issues. And then when Trump did the first stimulus package, three, four trillion dollars, he didn't do anything to fix any of the supply chain issues, which we could have done then. Fast forward. We passed the Chips and Science act, which was to fix the chip supply chain issue. Most Republicans voted against that. Trump wants to repeal it. He said in his State of the Union. And we all know that this team sport thing, it's just ignoring the facts. I mean, I give credit to Ted Cruz and Rand Paul. They've been very tough. Tariffs are a tax. This is gonna be a tax on the American people. When they say pain in the short term, like it's gonna be a 30 day deal, okay? Factories can't come online immediately. I do think we should make things more things here. Can't make everything here because obviously the reason we make goods in other countries is so that the cost of those goods to Americans are cheaper. You think if we made everything in America, where wages are $15 an hour, which is a good thing, where people get healthcare, which is a good thing, you think you can find things at Walmart for 99 cents? It's not gonna happen. The idea of that was to get goods cheaper in this country. That doesn't mean we can't have more manufacturing here. We should have more manufacturing here. And so let me separate the goal from the execution. The goal of increasing manufacturing. It's a bipartisan goal. We all support that. Democrats were the ones who did that with the Chips and Science act that Republicans voted against that was to increase chip manufacturing here in America, okay? But this execution of what they're doing, okay, is batshit crazy. Okay, we're gonna crash the stock market. And then Trump comes out and tweets and says, oh, maybe Powell should lower the interest rates. You go, oh, what are you doing? Are you crashing the stock market so that you can get interest rates lower? Power came out today and said that that's not going to happen. And you all know, we all know that if Joe Biden did this or made any policy change in which we lost 34,000 points, okay, in almost 4,000 points in a two day period, we've gone from 44,000 to 38,000 since Trump took office. They'd be like, it's because Joe Biden's in the basement. It's because he's with Hunter. There wouldn't be enough airtime in the day for them to fill. But yet most Republicans are silent. Trump's a genius, right? They say, I don't remember Trump ever talking about crashing the stock market while he was on stage in between the Hannibal Lecter talk. I don't remember. I mean, are you not entertained? I mean, by the way, this, this is not Easy to do. I mean, I get give Trump credit. I mean, he literally killed the economy, which he told everyone was terrible. Okay? And some people believe that, but the economy wasn't terrible. Well, it is now. So he's made that. He's made that happen. I mean, he literally wiped away trillions of dollars from the US Economy. We can't even make that up in the tariffs. And so look, he tariffed the penguins. He tariffed Vietnam, Madagascar, okay? I mean, I don't know what the plan is. The plan to get people who live in Vietnam to move to Greenland and make the shirts there. Nobody really knows what's going on. And Ben, let's not forget. Let's not forget. Can you imagine if Joe Biden was playing golf for two days while the stock market was cratering? I mean, the articles of impeachment that they would be filing would 50 members. Okay. They would have tried to impeach his dog. Okay. You know, based on what was going on. But this is the time we live in. Everything Trump does is good, even when we're staring in the face. Reminds me of that Leader DiCaprio movie. Don't look up. That's where the Republican Party is right now. Don't look up. And I know there are people out there who are like, this is good. The Republicans are going to get wiped out in the midterm. And don't get me wrong, I want to win the midterm. And we need breaks on President Trump. That's why him getting the House in the Senate was so bad. But a lot of people are going to get hurt. Businesses, people, seniors, my community, that this is their nest egg. They don't have 10 years to recover. You know, this is, this is, this is all very bad.

[Congressman Jared Moskowitz]

You know, when you talk about Trump golfing while the economy crashes, it's almost like, as you know, it's like those old Family Guy things where you keep seeing more and it just kind of gets worse and worse and then, like, it never stops getting worse for, like.

[Ben Shapiro]

You mean when literally Peter, like, runs, he goes to the Hinden Peter, and he gets in and then it just crashes.

[Congressman Jared Moskowitz]

And it's like eight minutes, though, and they drag it out until the commercial break. So, yes, he's playing golf while the market's crashing with the Saudi leaders who are paying him at his resort for a live golf tournament where he's making personal money promoting his brand while they do pink Birkin bag Hermes parties at Mar a Lago, celebrating $450,000 handbags while flying Marine One into the Golf course or onto the golf course to show off. But. But here, Congressman, is what Trump is saying. And with statements like this, it makes things worse infinitely. The post was week 11 wins. This was posted on Friday after the markets crashed. Week 11 wins. President Trump unleashes economic prosperity. It was another highly successful week for the American people as President Donald J. Trump continues his relentless pursuit of strength, prosperity and peace, and lays the foundation for America to be the global powerhouse for generations to come. They're celebrating this as the greatest week of prosperity. And you see that. I mean, what's your response to that?

[Ben Shapiro]

Look, they're used to spinning things, right, and creating their own sort of reality. They're used to doing that. But this is going to be different. People, People are go. People are being affected, right? Like, so it's not just like a talking point. They can see what's happening in the market. And so, yeah, look, there are people who voted for Donald Trump that thought, you know, he was a stable genius and he's going to, you know, get us to the promised land, golden age. And, you know, now's not a time to revel in the fact that, you know, this is what they voted for. But, you know, these people are probably now, and I'm hearing from some of them business owners who are having orders canceled. People are pulling back, pulling back their, Their, their money from the economy. You know, this. I mean, you got JP Morgan saying, you know, this is the highest tax increase on the American people. You know, you have JP Morgan saying that there's now a 60% chance of recession, so better than 50% chance. Before Trump did this, we were in the 30s, very low percentage of recession. We had hit that soft landing. And so, look, we're gonna go back to Washington on Monday. Most of my Republican colleagues will tell us the truth. When the cameras aren't on, they'll tweet how Trump knows exactly what he's doing. But when the camera's on, they'll tell us, but they'll be too afraid, too afraid to come out and say it. I mean, Mike Pence was literally. Mike Pence had the courage, was the first one to come out and said, this is a terrible idea, even before the markets collapsed today. And so, look, it's up to the House and the Senate if they want to put brakes on that. There is a Republican senator that's put a bill forward, that this would require congressional approval. Even Ben Shapiro said that these tariffs are probably unconstitutional, by the way, yesterday, because he needs congressional approval. You can't have a tax increase on the American people without congressional approval. And so listen, you know, we get, we're just gonna have to see what the next couple of days are. I, I have no way to know how Monday or Tuesday or Wednesday is going to go. The tariffs hit. Most of the tariffs will hit on April 9. China's reciprocal tariffs will hit on April 10. And, you know, who knows where the bottom has been.

[Congressman Jared Moskowitz]

Congressman, we got to have you back on and make sure you're kind of keeping us posted on these developments. And, you know, I'm specifically, you know, focused also on, on your constituents as they have, you know, overwhelmingly their retirements are being impacted, you know, by, by this and are kind of being directly hit. So thank you for joining us and we'll have you back soon.

[Ben Shapiro]

Appreciate it. Keep doing what you're doing. Congratulations on being number one. People are coming to you guys, you know, for the real stuff now.

[Congressman Jared Moskowitz]

I appreciate you, everybody. Hit. Subscribe. Let's get to 5 million subscribers. Love this video. Continue the conversation by following us on inst. Instagram at Midas Touch and help US blow past 1 million followers.