WEBVTT 1 00:00:00.520 --> 00:00:06.040 It's Night Side with Dan Ray on WBZ Cooston's Radio. 2 00:00:06.919 --> 00:00:09.119 Thank you very much, Dan, as we move into our 3 00:00:09.759 --> 00:00:15.119 second hour tonight. A big event today in Washington. I 4 00:00:15.160 --> 00:00:17.839 don't know how many of you watched it. It lasted 5 00:00:17.879 --> 00:00:23.320 about an hour. President Trump held forth in the Rose 6 00:00:23.359 --> 00:00:28.160 Garden and announced tariffs. Stock market didn't like it. Stock 7 00:00:28.199 --> 00:00:31.359 market took a well, it looks like the stock market 8 00:00:31.359 --> 00:00:35.240 will open tomorrow and down quite a bit. So before 9 00:00:35.280 --> 00:00:39.079 we get to our guest, let me just play one 10 00:00:39.119 --> 00:00:43.759 bite from the President today in the Rose Garden, just 11 00:00:43.799 --> 00:00:47.000 to give you a sense of the event. Cut number nine, Rob. 12 00:00:47.079 --> 00:00:49.359 This is the President this afternoon in the Rose Garden. 13 00:00:51.079 --> 00:00:55.600 My fellow Americans, this is Liberation Day waiting for a 14 00:00:55.640 --> 00:01:02.039 long time. April second, twenty twenty five will forever be 15 00:01:02.200 --> 00:01:07.519 remembered as today American industry was reborn, the day America's 16 00:01:07.560 --> 00:01:11.480 destiny was reclaimed, and the day that we began to 17 00:01:12.159 --> 00:01:14.599 make America wealthy again. 18 00:01:15.640 --> 00:01:19.760 We're going to make it wealthy, good, and wealthy. All right. 19 00:01:19.799 --> 00:01:26.400 That's President Trump this afternoon talking about tariffs substantial across 20 00:01:26.439 --> 00:01:30.120 the board, tariffs with us as Larry Edelman from the 21 00:01:30.120 --> 00:01:35.799 Boston Globe, Larry welcome to Night's side. He certainly didn't 22 00:01:35.840 --> 00:01:41.319 disappoint if you were looking for a wide swath of tariffs. 23 00:01:41.480 --> 00:01:42.480 What do you make of all of this? 24 00:01:43.519 --> 00:01:48.359 Well, the President went tough on tariffs, she sure did, 25 00:01:48.640 --> 00:01:55.079 if they were more extreme than most people expected. And 26 00:01:55.359 --> 00:01:59.560 it's gonna come at a you know, maybe a short 27 00:01:59.640 --> 00:02:03.560 term price for American consumers and businesses. You know, we'll 28 00:02:03.599 --> 00:02:06.599 see long term whether it does what the President says 29 00:02:07.200 --> 00:02:09.360 the tariffs will do, and that is, you know, increase 30 00:02:09.639 --> 00:02:13.159 US manufacturing and jobs, you know, help pay down the 31 00:02:13.240 --> 00:02:18.560 national debt and also fund his uh big beautiful tax cuts. 32 00:02:19.080 --> 00:02:23.039 Yeah. Well, I guess, I guess I don't see how 33 00:02:23.080 --> 00:02:25.680 he's able to do that, but we'll we can. We'll 34 00:02:25.719 --> 00:02:28.919 get to that in a second. Yeah, he's sort of 35 00:02:29.080 --> 00:02:34.479 acting as well. He's a protectionist at this point, not 36 00:02:34.560 --> 00:02:38.400 a free trade guy, and he's sort of antithetical to 37 00:02:38.439 --> 00:02:42.520 what the Republican Party has been since I'm gonna say 38 00:02:42.560 --> 00:02:46.080 at least the days of Dwight Eisenhower. 39 00:02:47.199 --> 00:02:47.879 Oh certainly. 40 00:02:48.360 --> 00:02:52.120 Yeah. And and also he had a lot of union 41 00:02:52.159 --> 00:02:54.960 guys there. There was a fellow from the UAW who 42 00:02:55.000 --> 00:02:59.360 spoke briefly. He did, he did talk about this on 43 00:02:59.439 --> 00:03:03.199 the campaign trail, so's it's not as if he's doing 44 00:03:03.280 --> 00:03:07.759 something different than what he promised on the campaign trail. 45 00:03:07.879 --> 00:03:11.400 But he's also a guy that watches the stock market. 46 00:03:11.439 --> 00:03:14.680 I mean, I assume and what do you think he's 47 00:03:14.680 --> 00:03:18.159 gonna What do you think he thought when he walked 48 00:03:18.159 --> 00:03:21.080 back into the White House and realized that the futures 49 00:03:21.120 --> 00:03:23.280 for tomorrow are down? I think of the Dow over 50 00:03:23.319 --> 00:03:25.360 a thousand points at this point. I mean, that has 51 00:03:25.960 --> 00:03:28.520 sort of an impact on That's. 52 00:03:28.439 --> 00:03:31.560 A good point, you know. I think Dan that he 53 00:03:31.719 --> 00:03:34.520 said this before, because as you know, stock's pretty much 54 00:03:34.560 --> 00:03:39.039 been falling for six weeks now, and you know the 55 00:03:39.080 --> 00:03:45.159 reason has been anticipation of this tariff plan. And we 56 00:03:45.199 --> 00:03:47.719 can only assume that when the market opens up again 57 00:03:47.800 --> 00:03:51.960 tomorrow that you know, you'll see more losses because this 58 00:03:52.120 --> 00:03:55.560 is worse one Ana said, you know, it's worse than 59 00:03:55.560 --> 00:04:00.560 his worst case scenario. But the presidents may clear that 60 00:04:00.639 --> 00:04:05.479 he is willing to endure the short term pain of 61 00:04:05.639 --> 00:04:11.960 you know, falling stock prices, potentially higher inflation and even 62 00:04:12.039 --> 00:04:15.680 a recession. He thinks it's worth it for the long term. 63 00:04:16.519 --> 00:04:19.560 And one has to you know, if you're taking him 64 00:04:19.560 --> 00:04:22.120 at his word. You know, he's going for you know, 65 00:04:22.240 --> 00:04:24.920 no pain, no gain type of approach to this. 66 00:04:25.639 --> 00:04:30.279 The problem is that presidents, even when they're second term presidents. 67 00:04:30.439 --> 00:04:33.720 Matter of fact, especially when the second term presidents, they 68 00:04:33.759 --> 00:04:38.199 have a runway of about eighteen months and if a 69 00:04:38.279 --> 00:04:41.720 year from now or fifteen months from by next summer, 70 00:04:43.160 --> 00:04:46.879 this stuff hasn't These tariffs have not worked the way 71 00:04:46.920 --> 00:04:50.560 he wants it to work. He probably can kiss the 72 00:04:50.600 --> 00:04:54.000 Senate in the House goodbye for his last two years 73 00:04:54.000 --> 00:04:56.720 in the White House. I mean, this is a this 74 00:04:56.800 --> 00:05:01.240 is an interesting period of time to to try this strategy. 75 00:05:01.399 --> 00:05:03.720 I guess he feels what does he have to lose, 76 00:05:04.680 --> 00:05:07.319 despite the fact that he's trolling Democrats. I don't think 77 00:05:07.360 --> 00:05:09.600 he's seriously serious what he says. He's going to run 78 00:05:09.639 --> 00:05:10.439 for a third. 79 00:05:10.199 --> 00:05:14.800 Term, right right, you know, the political calculations there, I 80 00:05:14.839 --> 00:05:19.040 don't I don't quite understand clearly. As we saw last night, 81 00:05:19.079 --> 00:05:21.879 there's you know, in the elections in Florida in terms 82 00:05:21.920 --> 00:05:24.959 of the margins that the Republican candidates won by, which 83 00:05:24.959 --> 00:05:28.879 were much lower than how Trump fared, you know in November, 84 00:05:29.199 --> 00:05:34.399 and in the state Supreme Court election in Wisconsin where 85 00:05:34.399 --> 00:05:38.879 the dem won despite you know, Elon Musk putting a 86 00:05:38.920 --> 00:05:42.199 lot of money into that race. You know, there's the 87 00:05:42.240 --> 00:05:45.759 backlash he's already already starting. Now what happens, you know, 88 00:05:45.920 --> 00:05:48.879 as we get closer to the mid terms. I can't predict. 89 00:05:49.360 --> 00:05:54.279 He clearly is confident that this is the right move 90 00:05:54.800 --> 00:05:57.120 and that he's going to stick with it. Whether he 91 00:05:57.199 --> 00:06:01.480 does or not, who knows. You know, I haven't heard 92 00:06:01.720 --> 00:06:02.759 very tough to predict. 93 00:06:03.240 --> 00:06:06.720 I haven't heard much criticism from his own party. I 94 00:06:06.759 --> 00:06:10.360 think there was some criticism from Mitch McConnell and Susan 95 00:06:10.399 --> 00:06:15.560 Collins today to senators who obviously, you know, are in 96 00:06:15.600 --> 00:06:21.240 many ways not aligned with him. But it seems as 97 00:06:21.319 --> 00:06:25.240 if his party is he's running this party, but it's 98 00:06:25.439 --> 00:06:30.120 it's it's it's almost as if he's realigning the American 99 00:06:30.199 --> 00:06:34.680 political spectrum in many ways. I mean, if this does work, 100 00:06:36.160 --> 00:06:38.720 and I'm not sure will I'm not enough of an 101 00:06:38.720 --> 00:06:45.360 economist to predict that he may be able to solidify 102 00:06:45.560 --> 00:06:50.399 states like a Pennsylvania, you know, Union states like Michigan 103 00:06:51.480 --> 00:06:55.680 and maybe even well maybe not Wisconsin, because the people 104 00:06:55.680 --> 00:06:57.720 who are likely who are going to be hurt here 105 00:06:57.800 --> 00:07:02.519 the most, I think are people the agricultural sector, which 106 00:07:02.560 --> 00:07:07.920 were tremendous supporters of him in all of those those 107 00:07:07.959 --> 00:07:10.839 those plain Midwestern and Plane states. I mean, it's. 108 00:07:10.879 --> 00:07:16.319 Yeah, we've correctly identified the shift in the Republican Party, Dan. 109 00:07:16.879 --> 00:07:19.360 You know that it's gone from the party of big 110 00:07:19.399 --> 00:07:23.199 business uh in Wall Street and free trade to a 111 00:07:23.240 --> 00:07:28.279 populist party. You know that is playing toward working class people. 112 00:07:29.000 --> 00:07:34.360 And you know, there's no denying that while free trade 113 00:07:34.759 --> 00:07:38.879 made this country a lot richer over the last thirty years, 114 00:07:39.120 --> 00:07:42.839 not everybody got to go along for the ride, especially 115 00:07:43.000 --> 00:07:47.720 in those communities that were dependent on manufacturing, you know, 116 00:07:47.839 --> 00:07:53.680 either closed textiles or automobiles. Yeah, yeah, exactly exactly. So 117 00:07:54.240 --> 00:07:57.560 he's trying, you know, he's been you know, maybe you 118 00:07:57.600 --> 00:08:00.319 know it's luck, but he's been, you know, push this 119 00:08:00.439 --> 00:08:06.600 realignment with the working class. Now, if if these tariffs, 120 00:08:06.759 --> 00:08:12.519 as many economists say, increase inflation and we have another 121 00:08:12.680 --> 00:08:16.600 round of much higher prices, this could backfire with working 122 00:08:16.600 --> 00:08:22.199 class people, you know, because proportionately they pay more here 123 00:08:22.279 --> 00:08:30.079 incomebody's yeah exactly, So you know it's it's an incredibly 124 00:08:30.199 --> 00:08:34.720 risky bet, not only for him but for the economy. 125 00:08:35.320 --> 00:08:37.840 So you know, this is why I think there's so 126 00:08:37.960 --> 00:08:40.759 much attention being paid today to this because it's just 127 00:08:41.039 --> 00:08:45.679 really so much on the line, you know, over the 128 00:08:45.679 --> 00:08:48.720 next months, you know, and through the mid terms and beyond. 129 00:08:49.720 --> 00:08:52.600 The other thing, Larry, which is interesting is that in 130 00:08:52.679 --> 00:08:59.519 the last month he's been we've watched gas prices come 131 00:08:59.559 --> 00:09:04.039 down and eke prices have come down. And I don't 132 00:09:04.039 --> 00:09:06.600 know that it's that it's anything that he has done, 133 00:09:07.080 --> 00:09:11.639 but he's benefiting from that at this point. And you 134 00:09:12.000 --> 00:09:17.039 just wonder if if if this is going to to 135 00:09:17.039 --> 00:09:20.159 to change to change the economic course and not for 136 00:09:20.200 --> 00:09:24.320 the better. So I mean not just uh, it's a 137 00:09:24.360 --> 00:09:29.240 little baffling. It's just a little baffling right now to me. 138 00:09:29.279 --> 00:09:34.399 I'm sure it's like you know, to to you know, 139 00:09:34.840 --> 00:09:42.039 he just will not accept the kind of economic imperative 140 00:09:42.080 --> 00:09:45.039 that this is going to raise prices. You know, this 141 00:09:45.279 --> 00:09:49.000 doesn't you know, there's no that's so much money is 142 00:09:49.039 --> 00:09:52.519 involved that there's no way that the manufacturers overseas can 143 00:09:52.600 --> 00:09:56.519 eat all of the cares, right, They're going to pass 144 00:09:56.559 --> 00:09:59.240 them on, and the wholesalers and the people who make 145 00:09:59.320 --> 00:10:02.440 products here with foreign parts are going to pass them on, 146 00:10:02.919 --> 00:10:05.639 and food is going to be more expensive. Uh, in 147 00:10:05.720 --> 00:10:09.960 the supermarket. It's it's it's inevitable. And you know, Trump 148 00:10:09.960 --> 00:10:13.000 has done a really good job in bringing the Republican 149 00:10:13.120 --> 00:10:17.840 Party to heal right, and he's brought law firms, you know, 150 00:10:18.360 --> 00:10:21.480 to the table force them to do stuff, and universities 151 00:10:21.559 --> 00:10:25.799 like Columbia. But I don't know if that that same 152 00:10:27.000 --> 00:10:29.519 arm twisting works with the economy. 153 00:10:30.080 --> 00:10:30.279 You know. 154 00:10:31.279 --> 00:10:34.039 It's like he can talk about it as much as 155 00:10:34.039 --> 00:10:37.919 he wants not being inflationary. Uh, but let's see what 156 00:10:37.960 --> 00:10:39.039 happens in six months. 157 00:10:40.039 --> 00:10:43.240 Yeah, it's good. It's going to be interesting, that is 158 00:10:43.279 --> 00:10:45.879 for sure. And he will be able to look back 159 00:10:45.919 --> 00:10:49.600 on it as a transformational president maybe and then say 160 00:10:49.679 --> 00:10:53.919 that that he did something which which was very ambitious, 161 00:10:54.399 --> 00:10:56.399 or he can look back on it at some point 162 00:10:56.399 --> 00:10:59.600 and say, boy, that was the crazy thing I do. 163 00:10:59.840 --> 00:11:03.240 He'll blame, he'll blame, He'll blame Peter Navarro and his other. 164 00:11:05.000 --> 00:11:09.039 I'd love to know who do you think, Larry? My 165 00:11:09.159 --> 00:11:11.440 last question, And I really appreciate you taking the time, 166 00:11:11.480 --> 00:11:15.399 because I'm sure you're writing on this tomorrow. Who do 167 00:11:15.440 --> 00:11:19.159 you think he is relying upon? Here? He doesn't seem 168 00:11:19.200 --> 00:11:21.080 to me to meet a guy that's going to sit 169 00:11:21.159 --> 00:11:25.320 down and listen to a balanced argument over you know 170 00:11:25.399 --> 00:11:29.000 about you know, get to get to history of you know, 171 00:11:29.440 --> 00:11:31.519 smooth Holly and all of that sort of stuff, and 172 00:11:32.519 --> 00:11:37.399 circumstances of the late twenties early thirties are identical or different. 173 00:11:37.759 --> 00:11:39.279 Who do you think he's listening to? Do you think 174 00:11:39.320 --> 00:11:42.720 it is Peter Navarro? His guy? 175 00:11:42.759 --> 00:11:44.879 I think Peter Navarro is this guy, because if you 176 00:11:44.919 --> 00:11:47.480 listen to Peter Navarro and then you listen to Trump, 177 00:11:47.519 --> 00:11:50.519 you hear very many of the same things. But one 178 00:11:50.519 --> 00:11:52.879 thing I will mention that this took me by surprise too. 179 00:11:52.919 --> 00:11:55.759 I heard Maggie Haveman on a podcast, the New York 180 00:11:55.759 --> 00:11:59.360 Times reporter who's covered Trump for years and years, and 181 00:11:59.440 --> 00:12:04.320 she said that he has been fixated on tariffs for decades, 182 00:12:04.840 --> 00:12:07.200 that this is, you know, not a new thing for him, 183 00:12:07.480 --> 00:12:12.240 that he's always looked at tariffs as something that he 184 00:12:12.399 --> 00:12:15.080 thought were needed, you know, and that America is getting 185 00:12:15.159 --> 00:12:18.440 ripped off in free trade, and he used. 186 00:12:18.399 --> 00:12:22.200 Him and he did use them somewhat in his first term. 187 00:12:22.039 --> 00:12:25.440 Correct, Right, Yes he did, and you know in a way, 188 00:12:25.639 --> 00:12:27.960 you know, they were but it was different. That was 189 00:12:28.120 --> 00:12:30.840 China for the most part, right, And you know, I 190 00:12:30.879 --> 00:12:33.679 think there's a pretty widespread agreement that, you know, something 191 00:12:33.720 --> 00:12:36.440 has to be done to keep China in check because 192 00:12:36.440 --> 00:12:40.240 they are clearly, you know, our toughest economic rival, and 193 00:12:40.279 --> 00:12:43.240 there are industries that we just can't afford to give 194 00:12:43.320 --> 00:12:46.559 up to them. But this is more than a hundred countries. 195 00:12:46.960 --> 00:12:50.919 This is our closest allies along with China and other countries. 196 00:12:51.320 --> 00:12:54.080 So it's it's a much different it's a much different 197 00:12:54.080 --> 00:12:57.679 thing this time around than it was in the first term. 198 00:12:57.840 --> 00:13:01.279 Larry Edelman of the Boston Globe, thanks so much. It 199 00:13:01.320 --> 00:13:05.000 gets us going here, and I just it's going to 200 00:13:05.080 --> 00:13:10.440 be fascinating, and we're all going to become a more economists. 201 00:13:09.960 --> 00:13:13.039 I guess in the internet we'll bite, will have to 202 00:13:13.120 --> 00:13:15.080 in the next few weeks, that's for sure. 203 00:13:14.879 --> 00:13:17.080 That's right. Just don't watch your just don't watch your 204 00:13:18.080 --> 00:13:21.159 stock market accounts. That might be a little bit repressing. 205 00:13:21.519 --> 00:13:24.519 No, I know, I know, well, you know they always say, don't. 206 00:13:24.799 --> 00:13:27.120 I hope people aren't going to be selling in panic here, 207 00:13:27.200 --> 00:13:29.240 because that's the biggest mistake anyone can make. 208 00:13:29.279 --> 00:13:33.240 You Gotta hold on exactly. 209 00:13:33.639 --> 00:13:36.159 When the storm hits. Don't jump overboard in the middle 210 00:13:36.159 --> 00:13:40.200 of the ocean. As simple as that. Larry, thanks so much, 211 00:13:40.240 --> 00:13:42.440 as always appreciated. Will you been there? Are you? Are 212 00:13:42.440 --> 00:13:43.720 you riding tonight for tomorrow? 213 00:13:44.600 --> 00:13:46.440 Yeah, I'll be online tomorrow morning. Yep. 214 00:13:46.559 --> 00:13:48.080 All right, Well we will look forward to seeing what 215 00:13:48.120 --> 00:13:50.559 you have to say then. But thanks for for sharing 216 00:13:50.559 --> 00:13:53.840 your thoughts with us tonight. Okay, thanks Larry. Larry Edelman 217 00:13:53.960 --> 00:13:57.720 of the Boston Globe business and finance columnist. We're going 218 00:13:57.759 --> 00:14:00.399 to take a break. We're we're talking about this story 219 00:14:00.440 --> 00:14:03.879 of the day, and it is the Trump tariffs. Uh, 220 00:14:04.080 --> 00:14:06.919 and I'd love to get a wide variety of viewpoints 221 00:14:06.960 --> 00:14:11.200 on it. Feel free to join the conversation. Six thirty 222 00:14:11.679 --> 00:14:15.679 six one seven. Larry's the only guest I had scheduled. 223 00:14:15.720 --> 00:14:19.000 There's no need to fill it up with a thousand experts. 224 00:14:19.559 --> 00:14:23.159 Larry is is great. Uh, and he was able to 225 00:14:23.159 --> 00:14:24.679 give us a few minutes. Now I want to hear 226 00:14:24.679 --> 00:14:27.159 from you. Feel free join the conversation. Coming right back 227 00:14:27.159 --> 00:14:27.919 on Nightside. 228 00:14:29.240 --> 00:14:33.919 It's Night Side with Boston's news radio. 229 00:14:35.120 --> 00:14:38.279 So the President today, in a ceremony in the Rose Garden, 230 00:14:39.039 --> 00:14:44.799 laid out his view. Okay, so let's let's hit some 231 00:14:44.879 --> 00:14:47.320 of these sound bites and in the meantime we will 232 00:14:48.039 --> 00:14:50.039 get as many of you lined up as possible. Let's 233 00:14:50.039 --> 00:14:53.200 go to cut number ten, please. He's he's talking here 234 00:14:53.360 --> 00:14:55.480 about factories. Cut ten. 235 00:14:55.559 --> 00:14:59.399 Rob jobs and factories will come roaring back into our country, 236 00:14:59.440 --> 00:15:03.399 and you see it happening already. We will supercharge our 237 00:15:03.519 --> 00:15:07.519 domestic industrial base. We will probably open foreign markets and 238 00:15:07.600 --> 00:15:12.159 break down foreign trade barriers, and ultimately more production at 239 00:15:12.159 --> 00:15:16.399 home will mean stronger competition and lower prices for consumers. 240 00:15:17.039 --> 00:15:21.000 This will be, indeed the golden age of American It's 241 00:15:21.039 --> 00:15:21.600 coming back. 242 00:15:21.679 --> 00:15:25.399 We're going to come back very strongly. You've heard him 243 00:15:25.440 --> 00:15:27.679 talk about the golden age for America. Well, it's on 244 00:15:27.759 --> 00:15:30.360 the line now, that's for sure. So let's try to 245 00:15:30.679 --> 00:15:33.080 get a couple of the bites here that he tries 246 00:15:33.120 --> 00:15:36.159 to explain it a little bit. It's not easy to understand, 247 00:15:36.200 --> 00:15:39.039 but this is cut number twelve, rob cut number twelve. 248 00:15:39.799 --> 00:15:42.759 But those days are over. Let me offer just a 249 00:15:42.799 --> 00:15:47.399 few examples of the vicious attacks workers have faced for 250 00:15:47.440 --> 00:15:51.679 so many years. The United States charges of the countries 251 00:15:51.799 --> 00:15:57.960 only a two point four tariff on motorcycles. Meanwhile, Thailand 252 00:15:58.159 --> 00:16:02.600 and others are dodging much higher prices like sixty percent. 253 00:16:02.679 --> 00:16:07.039 India charges seventy percent, Vietnam charges seventy five percent, and 254 00:16:07.080 --> 00:16:10.919 others are even higher than that. Likewise, until today, the 255 00:16:11.039 --> 00:16:15.840 United States has for decades charged a two point five tariff. 256 00:16:16.240 --> 00:16:21.559 Think of that two point five percent on foreign made automobiles. 257 00:16:22.799 --> 00:16:25.919 And he went on, this is cut number thirteen. He's 258 00:16:25.960 --> 00:16:28.679 talking here about cars, and again numbers are tough on 259 00:16:28.720 --> 00:16:32.240 the radio, but essentially what he's saying is that cars 260 00:16:32.279 --> 00:16:40.200 made in other countries are imported into this country relatively freely. 261 00:16:41.200 --> 00:16:43.840 And so now we have cars from places like South 262 00:16:43.919 --> 00:16:48.039 Korea and Japan and in other countries Germany, who are 263 00:16:48.039 --> 00:16:53.399 competing with American built automobiles. Uh. And that obviously cuts 264 00:16:53.440 --> 00:16:58.639 down the portion of the economy that are that are 265 00:16:58.639 --> 00:17:02.799 made in America, and that cost American jobs. And now 266 00:17:02.840 --> 00:17:06.000 he's trying, well, he's trying to basically now turn the 267 00:17:06.079 --> 00:17:11.720 tables on them and what he calls reciprocal tariffs. Okay, obviously, 268 00:17:11.799 --> 00:17:17.160 you can build a car in Korea or Japan less 269 00:17:17.160 --> 00:17:21.799 expensively than you can build a car in America. But 270 00:17:22.519 --> 00:17:26.880 but in addition, when we try to send a car overseas, 271 00:17:27.119 --> 00:17:30.720 they charge us more, and so he wants reciprocal tariffs. 272 00:17:31.319 --> 00:17:35.079 He'd like to have reciprocal tariffs at zero. That's his goal. 273 00:17:36.480 --> 00:17:38.720 Let me go to cut thirteen rob. 274 00:17:39.640 --> 00:17:42.400 Eighty one percent of the cars in South Carea made 275 00:17:42.440 --> 00:17:45.400 in South Korea. Ninety four percent of the cars in 276 00:17:45.519 --> 00:17:50.880 Japan are made in Japan. Toyota sells one million foreign 277 00:17:50.920 --> 00:17:54.480 made automobiles into the United States, and General Motor sells 278 00:17:54.519 --> 00:17:59.200 almost none. Ford sells very little. None of our companies 279 00:17:59.240 --> 00:18:02.839 are allowed to go into other countries. And I say 280 00:18:02.839 --> 00:18:06.039 that friend and foe, and in many cases the friend 281 00:18:06.119 --> 00:18:09.119 is worse than the foe in terms of trade. But 282 00:18:09.240 --> 00:18:13.920 such horrendous imbalances have devastated our industrial base and put 283 00:18:13.960 --> 00:18:18.240 our national security at risk. I don't blame these other 284 00:18:18.279 --> 00:18:21.440 countries at all for this calamity. I blame former presidents 285 00:18:21.480 --> 00:18:23.799 and past leaders who weren't doing their job. They let 286 00:18:23.880 --> 00:18:26.680 it happen, and they let it happen to an extent 287 00:18:26.720 --> 00:18:29.880 that nobody can even believe. That's why, effective at midnight, 288 00:18:30.400 --> 00:18:33.079 we will impose the twenty five percent tariff for all 289 00:18:33.200 --> 00:18:36.039 far and made automobiles. 290 00:18:37.720 --> 00:18:40.759 Most of those chairs came from UAW workers who were 291 00:18:40.799 --> 00:18:43.680 sitting in the audience in the Rose Garden, and then 292 00:18:43.720 --> 00:18:45.519 one final sound bu before we start to get the 293 00:18:45.559 --> 00:18:51.559 phone calls. He talks about farmers, and again I assume 294 00:18:51.640 --> 00:18:57.119 that these statistics that he has announced are accurate. Let's 295 00:18:58.119 --> 00:19:03.160 he's talking about what Canada does to our dairy products 296 00:19:03.160 --> 00:19:06.839 that are produced on United States farms cut fourteen rob. 297 00:19:07.480 --> 00:19:10.480 We're also standing up for our great farmers and ranchers 298 00:19:10.519 --> 00:19:13.680 who are brutalized by nations all over the world. 299 00:19:13.839 --> 00:19:14.680 It's brutalized. 300 00:19:17.599 --> 00:19:20.359 Canada, by the way, imposes a two hundred and fifty 301 00:19:20.400 --> 00:19:24.200 to three hundred percent tariff on many of our dairy products. 302 00:19:24.200 --> 00:19:28.279 They do the first, the first can of milk, They 303 00:19:28.279 --> 00:19:30.640 do the first little carton of milk at at very 304 00:19:30.640 --> 00:19:32.839 low price. But after that it gets bad and then 305 00:19:32.880 --> 00:19:35.079 it gets up to two hundred and seventy five three 306 00:19:35.200 --> 00:19:39.240 hundred percent. So when they're figuring what's Canada charging, they say, oh, 307 00:19:39.319 --> 00:19:42.319 about two percent, three percent. But take a look at 308 00:19:42.359 --> 00:19:44.720 what happens down the road when you look a little bit, 309 00:19:45.039 --> 00:19:47.319 it's not a pretty picture, and we don't like it, 310 00:19:47.359 --> 00:19:49.480 and it's not fair. It's not fair to our farmers, 311 00:19:49.480 --> 00:19:50.799 it's not fair to our country. 312 00:19:52.599 --> 00:19:57.720 So that's his rationale talking about, amongst other things, automobiles 313 00:19:57.759 --> 00:20:04.680 and dairy products. The concern is that when the tariffs, 314 00:20:05.640 --> 00:20:09.119 when we get into a trade war, everything's going to 315 00:20:09.119 --> 00:20:13.359 become more expensive. And I've noticed in stores, and I 316 00:20:13.400 --> 00:20:16.400 hope you have as well, in grocery stores, that there 317 00:20:16.440 --> 00:20:19.039 are a lot of products that are made here in 318 00:20:19.079 --> 00:20:25.720 the US, and prices that went up during COVID have 319 00:20:25.880 --> 00:20:28.920 never come back, that have never come down. There's a 320 00:20:28.960 --> 00:20:34.720 couple of cookie manufacturers that I used to really enjoy. 321 00:20:35.599 --> 00:20:38.559 I won't buy them anymore. I won't buy them anymore. 322 00:20:38.640 --> 00:20:41.640 I could see during COVID when there were supply line 323 00:20:42.200 --> 00:20:45.519 concerns and all of that, and there were trouble. I 324 00:20:45.559 --> 00:20:47.279 get it, We're going to pay a little bit more, 325 00:20:47.440 --> 00:20:50.200 but not now. Not now. The funny thing about it, 326 00:20:50.240 --> 00:20:53.119 as I mentioned Larry Edelman of the Boston Globe, who 327 00:20:53.119 --> 00:20:55.880 we had on earlier this hour, that there was a 328 00:20:55.920 --> 00:20:58.799 period of time where gas prices were coming down. I 329 00:20:58.880 --> 00:21:02.680 paid two seventy three for gas this weekend. Gas prices 330 00:21:02.680 --> 00:21:08.640 were coming down. There were egg prices have apparently come down. Well, 331 00:21:09.119 --> 00:21:14.440 let's see what happens. If Donald Trump can pull this off, 332 00:21:15.720 --> 00:21:21.680 he will be remembered as a transformational president, which is 333 00:21:21.720 --> 00:21:27.799 probably the most important thing a president can achieve to 334 00:21:27.839 --> 00:21:32.720 transform something. Obama did it with healthcare. Ronald Reagan did 335 00:21:32.720 --> 00:21:36.039 it with taking down the Berlin Wall and defeating the 336 00:21:36.039 --> 00:21:40.359 Soviet Empire. This is where Donald Trump has put his 337 00:21:40.519 --> 00:21:43.559 chips on the table. Let's see what people have to think. 338 00:21:43.640 --> 00:21:46.119 Let me start it off with Joe in Revere. Hey, Joe, 339 00:21:46.720 --> 00:21:48.440 your first this hour and night side. This is not 340 00:21:48.480 --> 00:21:50.480 an easy topic, but I'd love to know what you 341 00:21:50.480 --> 00:21:52.559 think about it. Go ahead, Joe. How are you tonight? 342 00:21:52.839 --> 00:21:56.000 Hey, Yeah, thank you for taking my call, sir, very much. 343 00:21:56.279 --> 00:22:02.519 I'm great. But I also saw service. I believe in 344 00:22:02.599 --> 00:22:06.160 mister Trump. I believe in what he's doing. We've been getting, 345 00:22:06.680 --> 00:22:10.079 you know, beat up for years with these tariffs. I 346 00:22:10.079 --> 00:22:12.279 think his intentions in the long run, and you tell 347 00:22:12.319 --> 00:22:15.119 me I could be wrong, but they take theirs off, 348 00:22:15.119 --> 00:22:16.039 we take ours off. 349 00:22:16.559 --> 00:22:19.200 That is that is yeah, that is correct. 350 00:22:19.240 --> 00:22:20.720 He beat up for a long time. 351 00:22:21.240 --> 00:22:23.799 Yeah. So basically, you've got a situation where where some 352 00:22:23.880 --> 00:22:26.759 of these other countries have gotten a good deal. I 353 00:22:27.079 --> 00:22:30.559 think we all can agree that a lot of other 354 00:22:30.680 --> 00:22:34.559 we've treated other countries well. Donald Trump is coming in 355 00:22:34.839 --> 00:22:38.559 and Donald Trump is saying, hey, you know, we want 356 00:22:38.559 --> 00:22:41.720 to we want to level the playing field. How tough 357 00:22:41.799 --> 00:22:42.559 is your business? 358 00:22:42.680 --> 00:22:43.039 Right now? 359 00:22:46.119 --> 00:22:51.440 I missed what you said, you know, Oh yeah, no, 360 00:22:51.440 --> 00:22:53.519 I understand that. My question to you is, since you're 361 00:22:53.680 --> 00:22:56.839 in the car business, has there been a spike in 362 00:22:56.960 --> 00:22:59.160 activity in the last few days. I've read a couple 363 00:22:59.200 --> 00:23:02.720 of ours that said people are trying to buy new cars. 364 00:23:02.759 --> 00:23:05.119 If they were planning on buying cars later this spring, 365 00:23:05.359 --> 00:23:08.400 they want to get in before the terraffs raised the prices. 366 00:23:08.519 --> 00:23:10.720 Is that likely? What is likely going to happen in your. 367 00:23:10.640 --> 00:23:16.640 Opinion, certain dealerships. Yeah, depending on the make and model. 368 00:23:17.160 --> 00:23:19.759 So I did a little research, like bosses and like 369 00:23:19.839 --> 00:23:23.359 everything's going up a thirty two thousand dollars Equinox is 370 00:23:23.359 --> 00:23:25.920 now going to be thirty eight this and that, and 371 00:23:25.960 --> 00:23:27.480 then I went out and looked at a bunch of 372 00:23:27.480 --> 00:23:30.839 stickers today. But I went on and did some research today. 373 00:23:30.960 --> 00:23:37.039 Dan the Colorado final production. Now they said final production 374 00:23:37.079 --> 00:23:38.759 don't matter, it's where it was built. I said, no, 375 00:23:38.839 --> 00:23:45.039 wait a minute, now, this says final production rowan Oak, Roanoak, Indiana, 376 00:23:45.480 --> 00:23:48.720 which I didn't know there was when I know there's Roanoke, Virginia. Anyway, 377 00:23:49.480 --> 00:23:53.359 if the final production, if the final production on the 378 00:23:53.440 --> 00:23:56.400 sticker is in USA, it will not get hit with 379 00:23:56.440 --> 00:23:56.960 a tariff. 380 00:23:57.440 --> 00:23:58.799 Correct, That's correct. 381 00:23:58.839 --> 00:24:01.480 That's the latest I have for you for information. 382 00:24:01.880 --> 00:24:02.079 Yeah. 383 00:24:02.160 --> 00:24:04.400 So what, Joe, what. 384 00:24:05.960 --> 00:24:07.960 Sort of cars? What sort of cars do you sell? 385 00:24:09.880 --> 00:24:16.759 I sell chevyes, Dan, So you shall you sell American cars? Yep? Okay, 386 00:24:16.920 --> 00:24:20.640 you know parts on every vehicle from everywhere. 387 00:24:20.440 --> 00:24:23.000 Right, But I don't think they can turn around and say, well, 388 00:24:23.119 --> 00:24:25.839 ninety four percent of this car is built in America 389 00:24:26.359 --> 00:24:29.559 and six percent of it is built in Mexico or whatever. 390 00:24:30.240 --> 00:24:33.279 H do you think that's gonna be then, so, therefore 391 00:24:33.279 --> 00:24:36.480 the tariff on this car will be six percent of 392 00:24:36.519 --> 00:24:38.400 the I can't imagine that. 393 00:24:38.519 --> 00:24:38.799 God. 394 00:24:38.880 --> 00:24:39.400 I hope not. 395 00:24:39.680 --> 00:24:41.039 No, no, no, no, I hope not. 396 00:24:41.200 --> 00:24:41.400 Dan. 397 00:24:41.519 --> 00:24:44.839 What I'm looking at is final assembly point. That's what 398 00:24:44.920 --> 00:24:46.880 I'm trying to get across to my managers. 399 00:24:46.880 --> 00:24:48.039 And my glasses. 400 00:24:49.279 --> 00:24:51.960 Was finished in our country. 401 00:24:52.160 --> 00:24:52.400