Bannon's War Room - Episode 4401： Trump Fights Back Puts 125% Tariffs On China

00:00:00.000 Go ahead and let it rip.

00:00:01.460 Are the numbers I'm seeing on my screen correct here for the Dow?

00:00:04.720 Are we up 7, 840 points right now?

00:00:08.660 Dana, I'm watching this literally glitching in gap.

00:00:11.920 We're up 900 points.

00:00:14.260 Is this, this is, this is, yeah, okay.

00:00:16.260 There, wow.

00:00:17.920 Our charts can't even keep up with how quickly these numerical moves are happening.

00:00:23.520 We are at session highs.

00:00:25.020 Emily, we are just sifting through everything that we're seeing in this true social post,

00:00:27.900 but two major developments.

00:00:30.060 I'm going to go first that the president says he is authorizing a 90-day pause

00:00:34.980 and substantially lowering the reciprocal tariff during this period of 10% effective immediately.

00:00:42.340 There's some fuzzy language here.

00:00:44.180 The upshot is that there's a 90-day pause in the reciprocal tariff.

00:00:47.040 What I'm not clear on is whether we go to zero during that time or to back where we were,

00:00:50.980 or if the 10% tariff remains in place.

00:00:54.120 Either way, a major step forward.

00:00:56.300 The president says that this is because more than 75 countries have called representatives

00:01:00.640 of the United States.

00:01:02.280 Negotiations are ongoing.

00:01:03.860 And so he's instituting this 90-day pause in the meantime.

00:01:07.720 On the other hand, some negative news on China,

00:01:10.240 saying that based on the lack of respect that China has shown to the world's markets,

00:01:14.820 he's raising the tariff on China to 125%.

00:01:18.880 That's, of course, up from the 104% that took effect just at midnight,

00:01:23.660 now going even higher to 125% because he does not like the way China has been retaliating,

00:01:28.800 rather than coming to the United States and wanting to negotiate.

00:01:32.200 So two major step forwards here.

00:01:34.140 One, obviously, very good for the markets.

00:01:35.940 You're seeing the markets react to that.

00:01:37.400 The other one on China, looking like, you know, they don't like the lack of respect that they see.

00:01:43.820 So we are looking at a world in which things continue to get worse with China,

00:01:48.780 one of our largest trading partners, but of course not the largest,

00:01:51.600 but getting much better with everybody else,

00:01:54.120 at least temporarily while these negotiations, Kelly, are ongoing.

00:01:57.460 An explosive rally for stocks after news President Trump is pausing reciprocal tariffs

00:02:04.920 on countries that did not retaliate, but holding them at that baseline of 10%.

00:02:09.760 China, the exception there.

00:02:11.940 The Dow up nearly 3,000 points.

00:02:14.840 S&P up 9.5%.

00:02:17.520 NASDAQ up 12%.

00:02:19.840 Charles, this is one of the greatest days in American economic history we have had.

00:02:25.480 I think we're going to call it the art of the reciprocal trade deal.

00:02:30.900 And I'll tell you, all the nervous Nellies on Wall Street who try to undermine us

00:02:35.740 consistently underestimate the power of the president to negotiate.

00:02:41.200 What have we got here?

00:02:42.840 We are at a place now where we have a broad-based 10% global tariff on.

00:02:48.760 Well, we negotiate over the next 90 days with all of these countries

00:02:54.340 who have come to us, and the mission, Charles, in these negotiations

00:02:59.480 is to dramatically reduce our trade deficit, level the playing field,

00:03:04.560 get rid of all the tariff differentials, get rid of all the non-tariff barriers.

00:03:10.260 Dow, 50,000.

00:03:11.940 Charles, I've said this before.

00:03:13.440 It's going to hit that.

00:03:14.700 We're going to have a broad-based recovery in the S&P 500.

00:03:18.040 As we told you, remember, our saying here also is that the bond markets

00:03:23.240 turfed out more governments than howitzers.

00:03:26.200 A little while ago, the bond market kind of froze up in 10-year treasury.

00:03:30.960 10-year treasury popped to 4.5%.

00:03:34.120 Remember the other day we were on the show?

00:03:36.760 It was down, I think it hit 3.9, 3.95.

00:03:39.740 That was kind of irregular, I'm not saying liquidity, but irregular treasuries back down.

00:03:47.220 And I believe that is twofold.

00:03:49.120 Number one, not just the tariff situation, but now this outright throwdown

00:03:54.840 between the Chinese Communist Party and the United States.

00:03:56.880 But in addition, I think it's just starting to think through the Senate bill,

00:04:01.060 of which is being pushed by the president.

00:04:04.020 And I can tell you there's some spending there people don't understand

00:04:06.500 or scratching their heads, including, I heard Jamie Dimon there,

00:04:09.740 a $1 trillion defense bill.

00:04:11.720 And I don't know how that's aligned with hemispheric defense.

00:04:14.440 Because it does take guts, believe me.

00:04:17.500 What are the bond markets that persuaded you to reverse course?

00:04:22.520 No, I was watching the bond market.

00:04:23.940 The bond market is very tricky.

00:04:25.520 I was watching it.

00:04:26.380 But if you look at it now, it's beautiful.

00:04:30.200 The bond market right now is beautiful.

00:04:32.100 But, yeah, I saw last night where people were getting a little queasy.

00:04:37.400 I think everything had...

00:04:39.200 Well, the big move wasn't what I did today.

00:04:42.160 The big move was what I did on Liberation Day.

00:04:45.040 We had Liberation Day in America.

00:04:46.900 We were liberated from all of the horrible deals that were made,

00:04:50.160 all of the horrible trade deals that were made.

00:04:52.620 And I was helped by people just like this,

00:04:55.800 senator, congressman, and friends, right?

00:04:58.260 And we had great help in the Senate.

00:05:02.380 Our Republican senators have been amazing.

00:05:04.860 They stood tall.

00:05:05.900 And likewise in the House.

00:05:07.620 And John...

00:05:08.040 There are decades in which nothing happens,

00:05:10.180 and there are weeks in which decades happen.

00:05:12.160 Welcome to that week, one of those weeks.

00:05:14.280 And there have been many with President Trump.

00:05:16.460 A full-blown...

00:05:18.040 It's gone beyond tariffs.

00:05:19.560 It's gone beyond trade.

00:05:20.600 It's a full-on...

00:05:22.600 You can't call it anything else but an economic war

00:05:24.820 between the Chinese Communist Party and the United States.

00:05:27.060 The Chinese Communist Party ratcheted up retaliatory measures last night,

00:05:33.820 tariffs, and others.

00:05:34.920 And they've got a full toolbox.

00:05:36.800 The Wall Street Journal has a really smart article up

00:05:40.480 about how they've been prepping for this war, economic war.

00:05:44.880 They've already been engaged in economic war

00:05:46.400 with this unconventional warfare, unrestricted warfare.

00:05:50.500 But they've been planning on this for many, many years,

00:05:53.180 and now we're fully on it.

00:05:54.700 As I said, we've given 90 days,

00:05:58.440 and the only certainty we can provide

00:06:00.560 is that the U.S. is going to negotiate in good faith,

00:06:03.520 and we assume that our allies will too.

00:06:06.600 And in terms of certainty, we will see what China does.

00:06:11.920 But what I am certain of, what I'm certain of,

00:06:14.740 is that what China is doing will affect their economy

00:06:18.580 much more than it will ours,

00:06:20.220 because they have an export-driven flood the world

00:06:24.160 with cheap export models,

00:06:26.840 and the rest of the world now understands,

00:06:29.960 because when we put up our tariff wall,

00:06:32.440 those exports were already flowing

00:06:34.660 to the rest of the G7 and to the global south.

00:06:37.820 Mr. Secretary, Mr. Secretary, how much of this decision

00:06:41.200 was driven by the bond market cratering overnight?

00:06:44.480 What is happening?

00:06:45.840 Is China selling their bonds?

00:06:48.320 I have nothing that says that,

00:06:50.140 and we actually had quite a good 10-year auction today,

00:06:53.740 and all this was, again,

00:06:55.460 this was driven by the president's strategy.

00:06:58.360 He and I had a long talk on Sunday,

00:07:00.300 and this was his strategy all along.

00:07:04.340 And you might even say that he goaded China

00:07:07.480 into a bad position.

00:07:11.060 They responded.

00:07:12.400 They have shown themselves to the world

00:07:14.420 to be the bad actors.

00:07:15.900 And we are willing to cooperate with our allies

00:07:19.900 and with our trading partners who did not retaliate.

00:07:24.120 It wasn't a hard message.

00:07:25.980 Don't retaliate.

00:07:26.960 Things will turn out well.

00:07:28.240 Just in the last few weeks, Nicole,

00:07:30.000 I had been having conversations with my colleagues

00:07:32.260 who also cover foreign policy and national security,

00:07:34.960 saying, isn't it interesting

00:07:35.840 how little we're hearing about China?

00:07:38.120 You know, during the campaign and over his career,

00:07:40.980 President Trump has been kind of obsessed with China,

00:07:43.540 and he has so many China hawks in his administration

00:07:46.460 who say that China is the biggest threat

00:07:48.380 to the United States.

00:07:49.620 But there was, you know,

00:07:50.860 there were virtually no policy pronouncements.

00:07:53.260 And now here we go.

00:07:54.640 We are in this conflict with China.

00:07:56.200 And as you say,

00:07:57.340 based in part on China's political culture,

00:08:00.640 also the fragility of its economy,

00:08:03.180 the Chinese are not going to back down

00:08:05.640 by any sign that we've seen.

00:08:07.500 They are,

00:08:08.600 Xi Jinping is going to stand up,

00:08:10.640 show that he can't be cowed by President Trump.

00:08:14.000 Nationalism is already starting to flare in that country.

00:08:17.560 And you could get into an escalatory cycle

00:08:19.680 that not only has these economic implications,

00:08:22.780 but can have security implications

00:08:24.700 that can become quite dangerous.

00:08:26.520 So we went from China seeming to be on the back burner

00:08:28.940 to now suddenly, you know,

00:08:30.660 we're in the thick of it with China,

00:08:32.240 not only economically, but in security terms.

00:08:34.640 And again, the question is,

00:08:36.140 can that escalation be controlled

00:08:38.220 as you have two leaders

00:08:39.840 who are going to have to show

00:08:41.120 that they are tough

00:08:41.960 and will not back down from one another?

00:08:43.760 And that can be dangerous.

00:08:47.560 This is the primal scream of a dying regime.

00:08:52.720 Pray for our enemies

00:08:53.920 because we're going medieval on these people.

00:08:57.960 Here's the reason I got a free shot

00:08:59.140 at all these networks lying about the people.

00:09:02.220 The people have had a belly full of it.

00:09:04.180 I know you don't like hearing that.

00:09:05.600 I know you've tried to do everything in the world

00:09:06.800 to stop that,

00:09:07.320 but you're not going to stop it.

00:09:08.240 It's going to happen.

00:09:09.520 And where do people like that go

00:09:10.820 to share the big lie?

00:09:12.920 MAGA media.

00:09:14.260 I wish in my soul,

00:09:15.900 I wish that any of these people

00:09:17.920 had a conscience.

00:09:19.700 Ask yourself,

00:09:20.720 what is my task

00:09:21.800 and what is my purpose?

00:09:23.460 If that answer

00:09:24.580 is to save my country,

00:09:26.660 this country

00:09:27.640 will be saved.

00:09:29.820 War Room.

00:09:30.660 Here's your host,

00:09:32.000 Stephen K.

00:09:32.740 Bannon.

00:09:39.640 Wednesday, 9 April,

00:09:40.780 on the year of our Lord,

00:09:41.680 2025.

00:09:42.860 I told you this morning

00:09:43.800 at the start of the show

00:09:44.620 about decades

00:09:45.800 where nothing happens,

00:09:46.780 weeks where decades happen.

00:09:48.700 This is going to be

00:09:49.260 that kind of day.

00:09:50.160 If you watched the show

00:09:51.040 this morning,

00:09:52.700 saw our concern

00:09:53.580 about the bond market.

00:09:55.480 Obviously,

00:09:55.980 the president shared

00:09:57.100 that concern.

00:09:58.080 There was a good auction

00:09:58.980 or an okay auction

00:10:00.000 before Secretary of Treasury

00:10:02.860 Abessant

00:10:03.660 went over to the White House

00:10:04.960 early in the afternoon.

00:10:06.360 I think Matt Boyle

00:10:12.840 reporting from Greece

00:10:13.900 and Caroline Wren

00:10:14.940 from the other side

00:10:16.220 of the globe

00:10:16.700 in Kuala Lumpur

00:10:18.180 showed that

00:10:19.020 the countries of the world

00:10:20.880 want to unite

00:10:21.800 with the United States

00:10:24.140 economically

00:10:24.960 against China.

00:10:27.180 And these are trading partners.

00:10:28.500 And remember,

00:10:29.000 reciprocity is key,

00:10:30.160 what Peter Navarro

00:10:31.180 has said.

00:10:32.320 I saw some people

00:10:33.320 saying,

00:10:33.700 oh,

00:10:33.960 it's Besant

00:10:35.400 and Elon Musk

00:10:36.920 versus Ludnik

00:10:37.960 and Navarro.

00:10:40.020 John Cardillo,

00:10:40.720 that's idiot talk.

00:10:43.140 Elon Musk

00:10:43.700 was a guy

00:10:44.120 that went out

00:10:44.580 of his way

00:10:45.000 to crush

00:10:45.780 Scott Besant.

00:10:47.000 And Elon Musk,

00:10:47.880 his only concern

00:10:48.920 is the Chinese Communist Party,

00:10:50.960 100%

00:10:51.540 the Chinese Communist Party.

00:10:53.180 Today,

00:10:54.120 the Chinese Communist Party

00:10:55.040 got crushed.

00:10:55.560 Michael Crowley

00:10:56.720 right there

00:10:58.280 summed it up.

00:10:59.180 New York Times

00:10:59.840 diplomatic correspondent.

00:11:02.820 We're a long way

00:11:03.820 from this thing being over.

00:11:05.480 Tonight,

00:11:06.260 get ready.

00:11:07.660 She is not going

00:11:08.400 to back down on this.

00:11:09.380 He can't back down on this.

00:11:11.040 The reason he can't back down,

00:11:12.300 if he was to back down

00:11:13.260 and show any softness whatsoever,

00:11:15.020 he would be overthrown

00:11:16.040 either by his military.

00:11:17.780 This is why

00:11:18.200 he's been purging the PLA

00:11:19.600 over the last two years.

00:11:20.660 Massive purges

00:11:21.420 in the senior ranks,

00:11:22.360 kind of like Stalin

00:11:23.160 did before World War II

00:11:25.380 in the 1930s

00:11:26.380 at the senior levels

00:11:27.140 of the Red Army.

00:11:27.980 She has been doing

00:11:28.680 the exact same thing.

00:11:29.700 She understands

00:11:30.560 that he is judged

00:11:31.780 by how he stands up

00:11:33.560 to the United States

00:11:34.240 of America.

00:11:34.980 That's how he's really judged

00:11:36.180 by the hardcore.

00:11:37.400 They have many,

00:11:38.960 many super hawks

00:11:39.820 over there

00:11:40.240 that are just raring

00:11:42.600 to get it on

00:11:43.080 with the United States

00:11:43.740 of America.

00:11:44.180 This is one of the reasons

00:11:44.800 you have to decouple.

00:11:46.320 The Chinese Communist Party,

00:11:47.420 it's impossible

00:11:48.120 to do a deal with.

00:11:48.960 We learned this in 2019,

00:11:50.440 as I keep saying

00:11:51.060 over and over again

00:11:51.840 when we had the light

00:11:52.480 as a deal.

00:11:53.760 This morning,

00:11:54.200 President Trump,

00:11:55.100 you know,

00:11:55.480 you can say

00:11:55.880 laid a trap.

00:11:58.120 The three things,

00:11:59.260 so just think this through.

00:12:00.440 Number one,

00:12:00.900 we've talked about

00:12:01.640 you need to have a process.

00:12:04.020 You had Liberation Day

00:12:07.900 and then the nations

00:12:09.580 of the world

00:12:10.020 are piling in here.

00:12:11.020 Some say,

00:12:11.520 hey,

00:12:11.580 I don't understand

00:12:12.240 the formula.

00:12:12.880 Some are saying,

00:12:13.560 hey,

00:12:13.700 I understand the formula,

00:12:14.700 but I think

00:12:15.040 you might be wrong.

00:12:16.360 Some are saying,

00:12:17.200 hey,

00:12:17.480 I understand the formula,

00:12:18.540 but my reciprocity

00:12:19.900 is different.

00:12:20.360 I understand

00:12:20.740 you want to get

00:12:21.180 to reciprocity.

00:12:22.540 All of them,

00:12:23.240 and particularly

00:12:23.700 the biggest trading nations

00:12:25.200 have all wanted

00:12:25.800 to come over here

00:12:26.300 and cut deals,

00:12:26.900 as Caroline Redd said

00:12:27.860 this morning,

00:12:29.420 from Kuala Lumpur,

00:12:31.380 all of Southeast Asia,

00:12:32.760 and we know Japan

00:12:33.640 had dinner with Scott Besson

00:12:35.200 last night.

00:12:35.800 The Koreans are heading over.

00:12:37.340 Vietnam's already here.

00:12:38.720 And she was putting out

00:12:39.760 the word,

00:12:40.340 you're not going to do this.

00:12:41.160 You need to come back.

00:12:42.340 You're in our camp.

00:12:43.880 So this is about,

00:12:44.620 you had to have a process.

00:12:46.420 I think the process

00:12:47.080 they chose

00:12:47.580 to keep the 10% on.

00:12:48.780 Remember,

00:12:49.240 10% tariff

00:12:50.300 is not small.

00:12:52.540 10% tariff

00:12:53.340 is four or five times

00:12:54.880 some other,

00:12:56.040 you know,

00:12:56.320 other times they had tariffs.

00:12:57.360 So that in and of itself

00:12:58.360 is not tiny.

00:12:59.220 The reciprocity piece

00:13:00.620 will be worked through

00:13:02.220 as people,

00:13:02.760 because it's going to,

00:13:03.500 these are complicated.

00:13:04.420 Remember,

00:13:04.680 it's just not

00:13:05.420 the numerical tariff

00:13:06.840 that you've got.

00:13:07.860 It's also all

00:13:08.760 the non-tariff barriers.

00:13:10.620 But the important thing

00:13:11.620 is he had Scott Besson

00:13:13.020 under President Trump's guidance

00:13:14.640 warn China.

00:13:16.300 Warned them on Saturday

00:13:17.620 and warned them on Sunday.

00:13:19.200 Don't come back.

00:13:20.620 If you strike back,

00:13:21.800 it's going to be bad news.

00:13:23.540 And they struck back hard

00:13:24.980 and President Trump

00:13:25.720 then struck back even harder.

00:13:27.800 And the market,

00:13:28.740 of course,

00:13:29.020 took off.

00:13:29.500 Number one,

00:13:30.000 it is the,

00:13:30.940 it is the,

00:13:32.280 you know,

00:13:32.740 the process.

00:13:33.520 They liked the 90 days.

00:13:34.820 However,

00:13:36.700 there is a mother

00:13:38.080 of all short squeezes

00:13:39.400 in there

00:13:39.680 in a couple of these stocks.

00:13:41.000 People were betting

00:13:41.940 against President Trump.

00:13:43.420 They were betting

00:13:43.860 against MAGA.

00:13:44.800 They were betting

00:13:45.340 against the United States.

00:13:46.160 They were betting

00:13:46.820 against these companies.

00:13:48.440 They got squeezed.

00:13:50.620 Because remember,

00:13:51.480 when you short like that

00:13:52.540 and you're leveraged,

00:13:53.680 it's an unlimited amount

00:13:54.800 of money,

00:13:55.220 infinite amount

00:13:55.720 of money you can lose.

00:13:56.700 Not like buying a stock

00:13:57.840 and going long.

00:13:58.500 because we buy a stock

00:14:04.300 and only go to zero.

00:14:06.840 Historic day

00:14:07.500 in the markets.

00:14:08.380 Dow almost 3,000 points

00:14:10.260 up.

00:14:12.040 Broke 40,000.

00:14:13.960 Gold broke 3,100

00:14:15.480 for a while.

00:14:16.460 Backed off.

00:14:16.960 I think it's 3,098.

00:14:18.840 You've got to learn

00:14:19.420 the process there.

00:14:20.600 The 10-year,

00:14:21.320 which was jiggy.

00:14:22.100 The 10-year market

00:14:22.960 when we started the show

00:14:23.900 this morning

00:14:24.380 was kind of frozen.

00:14:26.620 That is not good,

00:14:28.220 ladies and gentlemen.

00:14:29.720 That is not good.

00:14:30.980 And that does not happen

00:14:32.040 very often.

00:14:33.240 U.S. government securities,

00:14:34.580 particularly the 10-year,

00:14:36.800 which is the one that,

00:14:37.920 as we taught you,

00:14:39.280 the whole world

00:14:39.980 and your financial life

00:14:42.300 is off of.

00:14:43.480 Your credit cards,

00:14:44.140 all of it.

00:14:44.600 Okay.

00:14:45.300 We're going to the White House.

00:14:46.160 We've got Natalie

00:14:46.520 at the White House.

00:14:46.980 Dave Brad is here.

00:14:47.640 We're going to walk you

00:14:48.320 through all of it,

00:14:49.360 what happened today,

00:14:50.740 what you have to understand

00:14:51.740 from that,

00:14:52.220 the process about it.

00:14:53.440 More importantly,

00:14:54.440 what is to come

00:14:55.780 in the war room.

00:14:59.480 You don't go out

00:15:00.460 and buy a life jacket

00:15:01.520 when the boat

00:15:02.240 is already sinking.

00:15:03.500 You don't buy gold

00:15:04.700 when the economy

00:15:06.100 has already collapsed.

00:15:07.240 Clearly,

00:15:07.660 others are heeding

00:15:08.680 this advice

00:15:09.340 as gold hit

00:15:10.140 an all-time high

00:15:11.240 the first part

00:15:12.500 of 2025

00:15:13.120 multiple times.

00:15:14.660 It's not too late

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00:16:09.040 today

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00:16:11.040 Here's your host,

00:16:13.820 Stephen K.

00:16:14.540 Bannon.

00:16:20.900 Birchgold.com,

00:16:22.740 I told you,

00:16:23.760 we're here to teach

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00:16:25.980 Take your phone out,

00:16:27.140 text Bannon

00:16:27.980 at 989898.

00:16:29.640 Get the ultimate guide

00:16:30.620 for investing in gold

00:16:31.660 and precious metals

00:16:32.540 in the era of Trump.

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00:16:35.900 Philip Patrick

00:16:36.420 and the team,

00:16:36.840 look,

00:16:38.200 it was at 2,900s

00:16:39.820 back over,

00:16:40.580 3,100.

00:16:41.240 It's not the price

00:16:42.020 and the price swings.

00:16:43.620 This is quite abnormal.

00:16:45.160 You have to understand

00:16:46.000 what is going on here

00:16:47.080 in back of that.

00:16:47.840 The pattern recognition

00:16:48.960 and that is what

00:16:49.620 Birch Gold

00:16:50.200 will help you understand

00:16:52.000 plus the

00:16:52.540 end of the dollar empire.

00:16:54.620 As the Chinese Communist Party

00:16:55.900 is now up front

00:16:56.880 saying,

00:16:57.240 hey,

00:16:57.320 they're going to lead

00:16:57.740 a de-dollarization effort.

00:17:00.880 Don't think

00:17:01.720 this is over

00:17:02.460 by a long shot,

00:17:03.880 folks.

00:17:04.140 It was a great move

00:17:05.680 of President Trump today.

00:17:07.040 There was a short squeeze

00:17:08.320 and also people

00:17:09.160 pounded in and said,

00:17:09.980 hey,

00:17:10.640 Trump is back.

00:17:12.380 So there's a lot

00:17:13.180 of good there.

00:17:13.760 The process

00:17:14.320 to get these done

00:17:15.460 and to keep reciprocity,

00:17:17.120 which is absolutely

00:17:17.980 what President Trump

00:17:18.800 is focused on,

00:17:20.080 bringing jobs back,

00:17:21.440 which is his number

00:17:22.100 one priority.

00:17:23.440 And now in an economic war

00:17:24.920 with Xi,

00:17:25.620 who really can't,

00:17:26.720 who's not in a position

00:17:27.480 to back down.

00:17:28.880 This is what I'm saying.

00:17:29.760 Things,

00:17:30.640 other than just tariff

00:17:32.220 and trade

00:17:32.980 and,

00:17:34.500 you know,

00:17:35.240 like the kinetic part,

00:17:36.840 of this,

00:17:37.640 which may start,

00:17:38.660 quite frankly,

00:17:39.160 with us in Mexico

00:17:40.020 against their partners,

00:17:41.100 the cartels,

00:17:42.620 or it may start

00:17:43.300 around Taiwan.

00:17:44.640 Stay tuned.

00:17:45.560 This is why

00:17:46.100 the show for you

00:17:47.100 is more vital

00:17:47.800 than ever.

00:17:49.180 Natalie Winters

00:17:49.940 over in Congress.

00:17:51.320 Of course,

00:17:51.760 Zero Hedge

00:17:52.400 had it best.

00:17:54.120 The Zero Hedge guys

00:17:55.060 had an incredible

00:17:55.840 tweet up today

00:17:57.040 that said,

00:17:58.120 and now,

00:17:59.640 this is after

00:18:00.200 the story broke

00:18:01.620 and it was obviously

00:18:02.500 the focus on

00:18:03.180 economic warfare

00:18:03.960 of the Chinese Communist Party

00:18:04.960 and the market

00:18:06.580 started to run.

00:18:07.640 The guys over at Zero Hedge

00:18:08.840 put up a tweet,

00:18:10.700 and now we can go back

00:18:11.760 to your regularly scheduled

00:18:12.840 $1 trillion

00:18:13.480 in debt increase

00:18:15.520 every 100 days.

00:18:17.160 So they voted

00:18:18.020 in the Senate.

00:18:18.920 It's just procedural.

00:18:20.580 There have been promised cuts.

00:18:21.560 We'll get into that

00:18:22.760 when we've got time.

00:18:24.320 Quite a day

00:18:25.120 at the White House.

00:18:26.140 Ms. Winters?

00:18:29.180 Yes, quite a day indeed.

00:18:31.720 Just getting here,

00:18:33.340 they always are having

00:18:34.440 press gaggles.

00:18:35.360 We've already had

00:18:35.780 a ton today right now.

00:18:37.420 Transportation Secretary Duffy

00:18:39.200 is speaking to reporters.

00:18:40.900 I saw Commerce Secretary

00:18:42.080 Lutnik walk by

00:18:43.480 not too long ago.

00:18:44.600 If you were to ask me

00:18:45.320 what exactly the messaging,

00:18:46.620 the strategy is,

00:18:47.380 I think you're watching it

00:18:48.320 develop right now

00:18:49.200 in real time

00:18:50.420 on the big networks,

00:18:51.620 at the sticks,

00:18:52.420 at the press gaggle.

00:18:53.780 But I really think

00:18:54.400 confidence is emanating

00:18:55.540 from the White House today.

00:18:56.900 The rebound that we saw,

00:18:58.480 I think the strategy worked.

00:19:00.440 I think Caroline Levitt

00:19:01.280 said it best this morning

00:19:02.340 speaking to reporters.

00:19:03.780 They all got played.

00:19:04.820 They all got fooled.

00:19:06.500 This has been obviously

00:19:07.260 the strategy all along.

00:19:08.720 But overall,

00:19:09.700 from the comms angle

00:19:10.680 side of things

00:19:11.540 to each Cabinet Secretary,

00:19:13.120 it seems like they're

00:19:14.100 really emanating confidence

00:19:15.520 and that they know

00:19:16.460 what they're doing

00:19:17.100 contrary to, I think,

00:19:18.120 the narrative we've heard

00:19:18.940 coming out

00:19:19.440 from my legacy media colleagues.

00:19:23.520 Natalie,

00:19:26.900 Crowley says

00:19:27.660 some of the things

00:19:28.040 are very important.

00:19:28.740 Like I said,

00:19:29.180 President Trump ran

00:19:30.080 because of this thing

00:19:31.260 of the United States

00:19:31.960 being ripped off,

00:19:32.820 being de-industrialized,

00:19:33.980 the whole thing

00:19:34.380 around trade.

00:19:35.100 But the center of gravity

00:19:36.360 of that has always been,

00:19:37.740 as we keep pointing back

00:19:38.800 to the Financial Times

00:19:39.780 that got it right,

00:19:41.000 President Trump

00:19:41.780 in a defiant move

00:19:42.820 against Beijing

00:19:43.560 about the Chinese Communist Party.

00:19:46.060 You've been,

00:19:46.600 since you've been an intern

00:19:47.560 for us and for Rahim,

00:19:49.040 your research

00:19:50.260 originally started

00:19:51.300 in things like

00:19:51.900 the Chinese Communist Party

00:19:52.940 and how they're

00:19:53.520 infiltrated everywhere,

00:19:54.600 how they're ripping us off.

00:19:56.760 You know,

00:19:57.340 Crowley said,

00:19:58.280 hey,

00:19:58.580 Trump is a China hawk

00:20:00.320 and he surrounded himself

00:20:02.020 with China hawks.

00:20:04.060 How big,

00:20:04.440 how big,

00:20:05.200 how significant was that

00:20:07.840 in how this played out today?

00:20:10.820 Well,

00:20:11.320 I'm always honored

00:20:11.960 to return

00:20:12.640 to my anti-CCP tradition

00:20:14.520 here in the war room.

00:20:16.440 But look,

00:20:16.840 I think I'm getting

00:20:17.560 a sense of deja vu,

00:20:18.760 although maybe PTSD

00:20:19.860 is a better way

00:20:20.560 to describe it,

00:20:21.760 really to COVID,

00:20:23.040 the COVID panic.

00:20:24.060 What do I mean by that?

00:20:25.200 First and foremost,

00:20:26.200 the idea that what

00:20:27.080 was going to be a pandemic

00:20:28.220 that was going to destroy

00:20:29.060 the world,

00:20:29.480 just like it was going to be what

00:20:30.600 a recession that was going

00:20:31.880 to destroy the world.

00:20:32.780 Well,

00:20:32.940 that obviously didn't happen.

00:20:34.600 But more precisely

00:20:35.360 to that point,

00:20:36.040 I think the duking it out

00:20:37.160 right over the natural origins

00:20:38.800 versus the Wuhan Institute

00:20:40.440 of Virology lab origins,

00:20:42.140 we saw this really,

00:20:43.700 I think,

00:20:43.960 massive moment happen

00:20:45.520 where you had

00:20:46.160 a hardcore Chinese Communist Party

00:20:47.960 propaganda

00:20:48.500 who were on the payroll

00:20:49.880 directly of the Chinese

00:20:50.900 Communist Party,

00:20:52.060 like we exposed,

00:20:53.060 saying,

00:20:53.340 no, no,

00:20:53.740 this developed naturally.

00:20:55.000 And then the other voices

00:20:55.780 like ours,

00:20:56.520 the independent ones,

00:20:57.300 were saying,

00:20:57.940 no,

00:20:58.400 obviously it was man-made,

00:21:00.300 it was created

00:21:00.820 through gain-of-function research.

00:21:02.360 Why do I bring that up?

00:21:03.580 Because those same voices

00:21:04.740 that were weaponized,

00:21:05.900 right,

00:21:06.040 that same sort of propaganda

00:21:07.360 that you heard

00:21:08.780 to say COVID developed,

00:21:10.120 you know,

00:21:10.460 naturally in the Batcave

00:21:11.600 or whatever,

00:21:12.420 it's the same,

00:21:13.380 similar information warfare

00:21:14.900 psyop

00:21:15.540 that I think we heard,

00:21:16.500 now not in the confines

00:21:17.540 of biological research,

00:21:19.220 but when it comes

00:21:19.860 to the stock market,

00:21:20.740 when it comes

00:21:21.180 to these tariffs.

00:21:22.100 And we can get

00:21:22.880 into the intricacies,

00:21:23.960 but a lot of the think tanks

00:21:25.040 that you're hearing,

00:21:26.440 the so-called experts,

00:21:27.820 I guess,

00:21:28.140 there you go,

00:21:28.540 trust the experts,

00:21:29.260 that also cross-applies here too,

00:21:30.740 but the people

00:21:31.160 that you're hearing

00:21:31.740 being pumped across

00:21:32.540 the airwaves

00:21:33.140 on legacy media

00:21:34.120 are all a part

00:21:35.320 of these think tanks,

00:21:36.220 all are academics,

00:21:37.380 part of these institutions

00:21:38.240 that have been

00:21:38.800 on the take,

00:21:39.420 on the payroll

00:21:40.040 from the Chinese Communist Party

00:21:41.980 for decades.

00:21:42.840 And I know our side

00:21:43.620 always loves to say,

00:21:44.640 oh, so-and-so is,

00:21:45.620 you know,

00:21:46.220 bought and paid for

00:21:46.880 by the Chinese Communist Party.

00:21:48.960 That's an understatement,

00:21:50.400 right?

00:21:50.560 When you understand

00:21:51.380 the way that the Chinese

00:21:52.300 Communist Party

00:21:53.060 has systematically waged

00:21:54.500 political warfare

00:21:55.480 to target

00:21:56.200 not just the Achilles heel

00:21:57.740 of the American system,

00:21:58.860 but the American political system

00:22:00.520 in its entirety,

00:22:01.920 right,

00:22:02.100 don't miss the forest

00:22:02.860 for the trees.

00:22:03.500 Hunter Biden is one of many.

00:22:05.580 They've done that time

00:22:06.420 and time and time again.

00:22:07.700 All of these voices

00:22:08.700 that are now criticizing

00:22:09.860 President Trump

00:22:10.760 in this trade war,

00:22:12.700 which, by the way,

00:22:13.440 I reject that phrasing.

00:22:14.560 It's the Chinese Communist Party

00:22:15.840 that started this

00:22:16.580 to begin with.

00:22:17.300 That's victim blaming.

00:22:18.580 It's the American people

00:22:19.700 who have been besieged

00:22:20.780 by the Chinese Communist Party

00:22:22.160 through intellectual property theft,

00:22:24.360 illegal trade exports

00:22:25.520 and subsidies,

00:22:26.580 currency manipulation,

00:22:27.860 all these sort of

00:22:28.480 non-tariff barriers

00:22:29.520 that the Trump administration

00:22:30.460 is talking about

00:22:31.460 while their legacy media

00:22:32.680 counterparts are too dumb

00:22:33.880 to even know

00:22:34.640 that currency manipulation

00:22:35.840 exists at a rate of,

00:22:36.960 what is it,

00:22:37.300 30 to 40 cents on the dollar.

00:22:39.360 So this is a much bigger issue

00:22:41.160 of the tariffs,

00:22:41.920 I think,

00:22:42.180 right now are sort of

00:22:42.840 the latest theater of war

00:22:44.000 that we're seeing

00:22:44.700 the Chinese Communist Party

00:22:45.800 influence ops,

00:22:47.040 psyops,

00:22:47.580 you know,

00:22:47.960 run out on.

00:22:49.220 But this is just like COVID.

00:22:51.040 Our audience is always

00:22:51.900 ahead of the curve.

00:22:52.640 We're always steely-eyed.

00:22:53.600 We understand.

00:22:54.340 We stay frosty on the psyops.

00:22:56.280 I don't think the same

00:22:56.880 can be said for my colleagues here,

00:22:58.400 but it's the same

00:22:59.100 lying and deceitful actors

00:23:00.780 that are very in bed

00:23:01.780 with the Chinese Communist Party

00:23:02.960 that are telling us

00:23:03.980 that these tariffs

00:23:04.540 are detrimental

00:23:05.140 to the United States of America.

00:23:07.000 The running dogs.

00:23:09.840 You've got a clip.

00:23:10.740 Let's go ahead and play it

00:23:11.360 and then we'll bring you

00:23:11.960 back in for some observations.

00:23:15.320 Well,

00:23:15.840 I think it'll be

00:23:16.460 a devastating impact.

00:23:17.560 I mean,

00:23:17.740 for one thing,

00:23:18.340 we've already seen

00:23:19.220 in two business days,

00:23:20.900 Thursday and Friday,

00:23:22.260 after he announced

00:23:23.240 on Wednesday,

00:23:24.420 the launching

00:23:25.460 of all of these new tariffs,

00:23:26.760 that in two short days,

00:23:28.980 the United States

00:23:29.600 stock markets

00:23:30.220 lost $6 trillion,

00:23:32.140 $6 trillion in wealth.

00:23:34.400 I don't think

00:23:35.680 we've ever seen

00:23:36.400 anything like that

00:23:37.360 in history.

00:23:38.080 I think you'd have

00:23:38.500 to go back

00:23:38.940 to the Great Depression

00:23:40.420 and the crash of 1929

00:23:42.320 to see anything

00:23:43.700 on this type of scale

00:23:45.060 and even that

00:23:45.640 may not be quite the same.

00:23:47.260 This is going to go down

00:23:49.240 as one of the most

00:23:51.320 egregious self-inflicted wounds

00:23:55.000 and unforced errors

00:23:56.560 that we have ever made

00:23:57.760 as a nation

00:23:58.320 in any area

00:23:59.460 of trade policy

00:24:00.720 or economic policy.

00:24:01.640 So the bottom line

00:24:03.240 is it's going

00:24:03.960 to do several things.

00:24:04.960 Number one,

00:24:05.320 it's obviously going

00:24:06.040 to raise prices

00:24:06.900 and contribute mightily

00:24:08.080 to inflation.

00:24:09.520 Number two,

00:24:09.900 it's going to ultimately

00:24:10.740 result in net job loss

00:24:12.700 because American producers

00:24:14.520 will be having to pay more

00:24:16.320 for the inputs

00:24:17.120 for their final products.

00:24:18.540 That means that they'll have

00:24:19.780 to raise their prices

00:24:20.520 on the products.

00:24:21.520 That means fewer people

00:24:22.640 will buy the products

00:24:23.540 and that means that the factories

00:24:24.700 will have to lay people off.

00:24:25.900 That's what happened

00:24:26.480 the first time.

00:24:27.540 Before COVID,

00:24:28.860 under the Trump economy,

00:24:30.000 under these policies,

00:24:30.940 the United States

00:24:32.280 lost 250,000 manufacturing jobs.

00:24:35.780 So we know how this goes.

00:24:39.060 And so in all of those ways,

00:24:40.480 it's going to be devastating.

00:24:41.560 And of course,

00:24:42.500 it's leading to the weakening

00:24:43.640 of the dollar

00:24:44.260 and according to many economists,

00:24:46.660 a much greater likelihood

00:24:47.760 of a recession.

00:24:49.100 And none of this had to happen.

00:24:50.720 So it's very self-inflicted

00:24:52.500 and really economic mismanagement

00:24:55.840 at a level that I don't know

00:24:57.720 that we've ever seen

00:24:58.360 in the modern history.

00:25:00.940 Are they in the mumble tank

00:25:03.320 now they're not going to get

00:25:04.240 their Great Depression

00:25:05.080 this week, ma'am?

00:25:08.240 Well, Stephen K. Bannon,

00:25:09.440 you just missed Peter Navarro

00:25:10.600 walking by.

00:25:11.220 He told me to send his regards

00:25:12.700 to the posse.

00:25:14.200 But just to contextualize

00:25:15.480 who that is,

00:25:16.020 I know we love the term

00:25:16.940 running dogs here,

00:25:18.280 but that's a full-blown traitor.

00:25:19.780 That's David Fierstein,

00:25:21.280 who is the CEO

00:25:22.000 of the Bush China Center.

00:25:24.440 Now, what they don't tell you

00:25:25.440 about the Bush China Center

00:25:26.520 and what I won't tell you

00:25:27.300 about that interview,

00:25:28.020 I guess they won't tell you,

00:25:28.960 is that he was running

00:25:30.320 to Chinese state-run television

00:25:32.560 to dunk on President Trump's tariffs.

00:25:35.140 I stand by my treasonous claim

00:25:36.560 and traitor claim,

00:25:37.620 but what's more interesting

00:25:38.600 is what he doesn't disclose

00:25:39.860 is that that group,

00:25:42.080 the Bush China Center,

00:25:43.200 is directly on the payroll

00:25:44.500 of a Chinese Communist Party-run

00:25:46.060 influence group

00:25:46.740 known as the China-United States

00:25:48.280 Exchange Foundation.

00:25:49.740 They notoriously signed

00:25:51.000 a five-year,

00:25:51.620 $1 million-a-year contract

00:25:53.220 to basically parrot

00:25:54.280 Chinese Communist Party

00:25:55.360 talking points.

00:25:56.020 That interview you see right there

00:25:57.620 is what they call,

00:25:58.400 I guess, an ROI.

00:25:59.900 But more to that point,

00:26:00.900 each year they were only

00:26:01.800 bringing in about $1.2 million,

00:26:03.700 so the buried lead there

00:26:04.700 being that it was

00:26:05.420 the China-United States

00:26:06.480 Exchange Foundation

00:26:07.320 that was constituting

00:26:08.740 essentially the entirety

00:26:10.360 of that group's budget.

00:26:11.660 But this pattern

00:26:12.840 is replicating itself

00:26:14.040 over and over and over again.

00:26:16.340 The other think tanks

00:26:17.260 that are essentially

00:26:17.960 bought and paid for

00:26:18.940 by this very same,

00:26:20.200 like I repeat,

00:26:20.940 communist influence group,

00:26:22.700 the Brookings Institution,

00:26:23.780 the Center for Strategic

00:26:24.880 and International Studies,

00:26:26.120 the Atlantic Council,

00:26:27.380 the Center for American Progress,

00:26:29.040 the East-West Institute,

00:26:30.240 the Carter Center,

00:26:31.500 and the Carnegie Endowment

00:26:32.480 for International Peace.

00:26:34.280 Of course,

00:26:34.740 a bunch of America's

00:26:35.540 top institutions

00:26:36.460 are also on the take

00:26:37.740 from the China-United States

00:26:39.160 Exchange Foundation.

00:26:40.360 And if Denver wants

00:26:41.040 to toss up on screen,

00:26:42.900 the Center for American Progress,

00:26:44.440 which has actually led

00:26:45.640 delegations to China,

00:26:47.120 paid for,

00:26:47.700 subsidized by this

00:26:48.600 communist influence group,

00:26:50.120 since 2009,

00:26:51.660 this was a group

00:26:52.140 that was founded

00:26:52.640 by John Podesta,

00:26:53.700 though I think

00:26:54.040 that's maybe the lesser

00:26:55.240 of the two controversies

00:26:56.500 when it comes to this think tank,

00:26:57.900 at least in the context

00:26:58.700 of Chinese relations.

00:27:00.180 But for decades,

00:27:00.900 they've been collaborating

00:27:01.720 with them,

00:27:02.360 going on these

00:27:02.880 high-level delegations,

00:27:04.100 receiving hundreds

00:27:04.720 of thousands of dollars

00:27:05.880 to lobby for them.

00:27:07.220 Why an American think tank

00:27:08.380 would be lobbying

00:27:08.960 for Chinese Communist Party interests?

00:27:11.300 I can't quite tell you

00:27:12.400 the fact that it's comprised

00:27:13.500 of overwhelmingly

00:27:14.340 Obama administration alumni.

00:27:15.980 Maybe that squares

00:27:16.840 that logic chain.

00:27:18.320 But this is what you're hearing.

00:27:19.380 It's full-blown propaganda

00:27:20.680 from, guess what,

00:27:21.900 people who hate

00:27:22.760 the United States of America

00:27:24.040 don't think borders matter

00:27:25.460 and don't think sovereignty

00:27:26.480 is important.

00:27:27.220 So, of course,

00:27:27.660 they're going to hate

00:27:28.060 these tariffs.

00:27:30.940 Natalie Winters,

00:27:31.840 social media, ma'am.

00:27:34.700 Natalie G. Winters

00:27:35.620 on all platforms.

00:27:36.620 Thank you for having me.

00:27:39.620 Great job.

00:27:41.500 Couldn't have come out

00:27:42.320 of the box

00:27:42.960 firing with all cylinders.

00:27:45.820 about the CCP.

00:27:50.180 Folks,

00:27:50.880 don't think

00:27:52.000 we're through this one

00:27:52.700 by a long stretch.

00:27:54.360 This is Battle of the Titans

00:27:55.480 right now.

00:27:56.700 Short break.

00:27:57.400 Brat on the other side.

00:27:58.460 I'm trying to find

00:28:00.120 your soul

00:28:01.960 health isn't just

00:28:12.300 a personal issue.

00:28:13.300 It's a family issue,

00:28:14.220 a community issue.

00:28:15.600 We're living

00:28:16.260 in unpredictable times.

00:28:17.700 Supply chains

00:28:18.280 can break down.

00:28:19.000 Hospitals can get overwhelmed

00:28:20.280 and let's not even start

00:28:21.700 on the natural disasters.

00:28:23.640 These aren't hypotheticals.

00:28:24.840 They're happening.

00:28:25.460 You see it here

00:28:25.920 in the war room

00:28:26.520 and we all know it.

00:28:28.180 The question is simply,

00:28:29.820 are you ready?

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00:29:17.120 Here's your host,

00:29:19.520 Stephen K.

00:29:20.220 Bannon.

00:29:23.840 President Trump

00:29:24.640 absolutely hammered him today.

00:29:26.740 Make sure that you

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00:30:16.000 Just Steve?

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00:30:27.640 Dave Brett.

00:30:29.500 I want to get to the second.

00:30:30.680 The Senate,

00:30:31.540 I don't know.

00:30:32.900 I'm not feeling it, brother,

00:30:34.120 but I heard it was

00:30:34.700 just procedural day.

00:30:35.620 A lot of long faces

00:30:36.420 having to vote for this.

00:30:37.900 But walk me through

00:30:38.960 your assessment

00:30:40.280 of President Trump's

00:30:41.200 handling of this

00:30:41.840 over the last couple of days.

00:30:42.780 And where do you think

00:30:43.660 we are right now?

00:30:46.680 Yeah,

00:30:47.280 my view is

00:30:48.660 we're in the middle

00:30:49.220 of a geopolitical,

00:30:51.440 geoeconomic revolution,

00:30:53.600 a Cooneyan paradigm shift

00:30:55.680 that's going to be permanent.

00:30:57.760 President Trump

00:30:58.580 is assessing it

00:30:59.420 in real time

00:31:00.140 and seeing the max damage

00:31:02.300 he can do

00:31:03.040 to an evil system.

00:31:04.900 Right?

00:31:05.140 St. Augustine,

00:31:06.420 Provaccio, Boney,

00:31:07.560 the absence of the good

00:31:09.280 is evil.

00:31:10.900 Communism,

00:31:11.620 Morning Joe,

00:31:12.480 Mika,

00:31:12.920 Baptist,

00:31:14.100 let's have a debate

00:31:16.140 on that one.

00:31:16.760 Is communism

00:31:17.480 good or evil?

00:31:19.320 Let's have that one.

00:31:21.040 Somehow,

00:31:21.540 communist China

00:31:22.200 grew at 10% GDP

00:31:23.880 for a decade.

00:31:25.520 Somehow,

00:31:26.060 they are doing

00:31:26.580 $5 trillion

00:31:27.380 in manufacturing a year

00:31:29.700 while the United States

00:31:30.720 of America

00:31:31.180 is doing half of that,

00:31:32.400 $2.5 trillion.

00:31:33.620 Somehow,

00:31:34.320 China has $100 trillion

00:31:35.920 in capital

00:31:36.960 to work with

00:31:38.200 and we only have

00:31:39.480 $70 trillion.

00:31:40.720 That might explain

00:31:41.640 why our productivity

00:31:42.600 has been going down

00:31:43.780 for 70 years.

00:31:44.960 Bob Gordon,

00:31:45.640 Northwestern,

00:31:46.640 I've shown that chart

00:31:47.620 a thousand times

00:31:48.800 talking about

00:31:49.640 the real economy.

00:31:50.740 That guy on the news

00:31:51.500 you just had,

00:31:52.160 Feierstein or whoever,

00:31:53.680 talking about

00:31:54.220 the real economic outlook.

00:31:55.760 He didn't mention

00:31:56.240 the economy once.

00:31:57.280 Our economy is not

00:31:58.420 in strong shape

00:31:59.180 because it's been destroyed

00:32:00.840 by the communists

00:32:02.060 and the leftists,

00:32:02.880 et cetera,

00:32:03.260 who have given us

00:32:03.800 those charts.

00:32:05.340 And so,

00:32:05.800 I think President Trump

00:32:06.880 is just weighing

00:32:07.820 in real time.

00:32:08.480 He sees very clearly

00:32:09.500 what they did to him

00:32:10.360 in 16,

00:32:11.620 in 20,

00:32:12.980 what they're still doing

00:32:13.920 in 2024

00:32:14.680 with the courts,

00:32:15.520 et cetera.

00:32:16.280 And he's maxing out

00:32:17.900 what he can do

00:32:18.940 in a short order.

00:32:20.220 It's not like

00:32:20.880 the establishment,

00:32:21.900 once he starts

00:32:22.420 these changes,

00:32:23.000 they're going to continue

00:32:23.920 on his regime,

00:32:25.320 right?

00:32:25.920 They're not going to say,

00:32:26.720 oh, yeah,

00:32:27.180 or Trump's not going to say,

00:32:28.200 let's just do this

00:32:28.860 incrementally.

00:32:29.720 Let's just make,

00:32:30.320 you know,

00:32:30.940 little changes

00:32:31.680 right at first

00:32:32.180 because, boy,

00:32:32.660 we don't want to upset

00:32:33.400 the apple cart

00:32:34.300 that's been wreaking

00:32:36.760 havoc on the

00:32:37.660 American middle class.

00:32:39.680 And so,

00:32:40.180 I also want to add

00:32:41.360 the moral debate.

00:32:42.380 President Trump,

00:32:43.700 he'll never admit this,

00:32:44.960 but I see

00:32:45.820 the positive thinking

00:32:47.660 in his upbringing.

00:32:49.020 I see that he is

00:32:50.580 not a beggar-thy-neighbor guy.

00:32:52.280 He doesn't want

00:32:52.980 our advancement

00:32:53.660 at the worsening

00:32:54.940 of the rest of the world.

00:32:56.460 What he wants

00:32:57.140 is a system

00:32:57.740 that makes us

00:32:58.840 all better off,

00:32:59.660 as opposed to China,

00:33:01.340 who is beggar-thy-neighbor.

00:33:03.560 They got rich

00:33:04.320 off of our backs.

00:33:05.360 They took manufacturing

00:33:06.520 away from us.

00:33:07.560 They cheated,

00:33:08.120 lied,

00:33:08.460 steeled.

00:33:09.120 The tariffs

00:33:09.560 are about a third

00:33:10.280 of the story.

00:33:10.960 Non-tariff barriers

00:33:11.940 are two-thirds

00:33:13.220 of the story.

00:33:14.060 And the White House

00:33:14.560 is,

00:33:14.860 and you've been strong

00:33:15.740 on that for the last

00:33:16.400 few days, Steve.

00:33:17.740 And so,

00:33:18.380 I applaud the backbone

00:33:19.420 from our America First side

00:33:21.140 for sticking with it

00:33:22.180 and doing the best.

00:33:23.460 And Trump's a smart,

00:33:24.520 smart guy.

00:33:25.200 So,

00:33:25.340 he's reading the leaves

00:33:26.320 and seeing how he can

00:33:27.980 maximize goodness

00:33:29.460 for the American people

00:33:30.580 in the political sphere.

00:33:33.040 This is just

00:33:39.460 getting kicked off.

00:33:40.360 Now,

00:33:40.640 this is a throwdown.

00:33:41.960 You know how tough

00:33:42.780 and hard

00:33:43.220 the Chinese Communist Party

00:33:44.660 is.

00:33:45.240 They have a huge problem

00:33:46.280 with legitimacy

00:33:47.020 since they were

00:33:48.300 a revolutionary force

00:33:49.520 and they did defeat

00:33:50.420 one of the Kuomintang armies,

00:33:52.160 but essentially,

00:33:52.920 the country was given

00:33:54.060 to them

00:33:54.500 by traitors

00:33:56.440 in the State Department

00:33:57.400 and the U.S. government

00:33:58.300 who took a small

00:33:59.540 revolutionary cadre

00:34:00.760 and gave the country

00:34:02.020 to them.

00:34:02.400 And they had defeated

00:34:03.320 on many occasions,

00:34:04.900 many battles,

00:34:06.080 the nationalist forces.

00:34:08.080 But they've always had

00:34:08.840 a question about legitimacy.

00:34:09.980 They've never had

00:34:10.540 an election.

00:34:11.040 They've never been elected in.

00:34:12.100 They've never had

00:34:12.700 to go out and convince

00:34:13.880 the Chinese people

00:34:14.560 to support them.

00:34:15.520 Where do you think

00:34:16.080 we are now?

00:34:16.980 Particularly,

00:34:17.920 you've got Taiwan.

00:34:19.020 You have the fentanyl crisis

00:34:20.280 on our southern border.

00:34:22.060 You've got the Panama Canal.

00:34:23.920 You have the Arctic.

00:34:25.500 You have,

00:34:26.020 my recommendation immediately

00:34:27.340 is to take all 350,000 students

00:34:29.760 that are here,

00:34:31.140 revoke the student visas

00:34:34.000 and send them all home

00:34:34.920 right now.

00:34:35.700 There may be some swell kids

00:34:36.940 in that,

00:34:37.300 but it's just,

00:34:37.740 it's a principle.

00:34:38.700 They all got to go.

00:34:39.680 And we still have

00:34:40.520 tens of thousands

00:34:42.000 that snuck in here

00:34:42.940 and crossed the border

00:34:44.260 when Biden invited them in.

00:34:46.960 Where do you think

00:34:47.520 we are now

00:34:48.200 in this overall war

00:34:49.880 that they've been engaged

00:34:50.860 against us since 2019?

00:34:54.260 I think we're

00:34:55.820 in a very,

00:34:56.840 very scary world

00:34:58.540 and predicament right now.

00:35:00.440 And that's why

00:35:01.320 I brought up

00:35:01.840 all these morning

00:35:03.160 Joe and Mika's

00:35:04.380 and Jamie Diamonds

00:35:05.600 and the Wall Street Journals.

00:35:07.680 Hey,

00:35:07.920 what are you guys

00:35:08.680 going to say in the morning

00:35:09.760 if China goes all in,

00:35:11.820 puts all in chips,

00:35:13.980 does,

00:35:14.440 takes over Taiwan

00:35:15.360 or does something

00:35:16.160 worse than that?

00:35:17.240 Then all of a sudden,

00:35:18.320 are you going to

00:35:18.800 finally figure out

00:35:19.840 that the Chinese

00:35:21.400 totalitarian communist

00:35:22.880 surveillance state

00:35:23.800 is not morally good?

00:35:25.740 They have no human rights.

00:35:27.260 They do not believe in God.

00:35:29.320 They're abusing human beings.

00:35:30.900 There's no human freedom.

00:35:32.720 The moral equivalents,

00:35:33.720 right,

00:35:33.860 I'm just shocked

00:35:34.960 on the moral equivalents,

00:35:35.820 right,

00:35:35.920 the Panama Canal

00:35:36.680 versus Taiwan

00:35:37.380 or whatever.

00:35:38.160 We have paid

00:35:39.220 for a peaceful order

00:35:40.520 for 70 years.

00:35:42.580 China has never done

00:35:43.620 anything good

00:35:44.400 for anyone

00:35:45.200 in the last 70 years

00:35:46.200 except themselves

00:35:47.060 and not even themselves,

00:35:48.500 a small,

00:35:49.360 teeny little minority.

00:35:50.240 When we talk about China,

00:35:51.180 we're not talking

00:35:51.840 about the Lao Bai Jing,

00:35:52.860 the people made

00:35:53.340 in the image of God.

00:35:54.460 We're talking about

00:35:55.400 the totalitarian despots

00:35:56.800 and it is a scary world

00:35:59.100 we're living in right now.

00:36:00.380 That,

00:36:01.220 we don't know.

00:36:02.160 My guess is

00:36:03.120 they're probably

00:36:03.740 in a recession

00:36:04.660 and near 0% GDP growth.

00:36:07.320 I know we are,

00:36:08.140 as we've always said.

00:36:09.520 If you stripped out

00:36:10.380 the grotesque money printing

00:36:12.540 and the 2 trillion deficits,

00:36:13.880 we'd be shrinking

00:36:15.360 at at least 3%,

00:36:16.720 4%,

00:36:16.960 5%.

00:36:17.740 But you wouldn't know that

00:36:19.280 because none of the

00:36:19.960 mainstream economists

00:36:20.860 will ever do any research

00:36:22.560 on anything that matters.

00:36:24.440 And that's,

00:36:24.860 I mean,

00:36:25.200 what Natalie just brought up,

00:36:26.560 right,

00:36:26.740 just look at all those

00:36:28.220 foundations she reeled off.

00:36:29.740 They all fund

00:36:30.720 all the economists

00:36:31.620 at Harvard and Yale

00:36:32.460 and Princeton,

00:36:33.120 Berkeley and MIT.

00:36:34.600 So if you want to know

00:36:35.400 why none of the

00:36:36.060 America First issues

00:36:37.020 are ever covered

00:36:37.920 by economists,

00:36:39.820 and that's why,

00:36:40.620 I'm serious,

00:36:41.200 we're in a Coonian revolution.

00:36:42.980 Their story,

00:36:44.100 their narrative on the left,

00:36:45.040 the Marxist left,

00:36:45.560 they cannot explain the data,

00:36:47.800 how our productivity

00:36:48.960 is so far down,

00:36:50.320 why China's growing so fast,

00:36:52.140 how we let that happen,

00:36:53.560 who's in charge,

00:36:54.580 right?

00:36:54.860 No one in the establishment

00:36:56.080 is defending

00:36:56.960 the current trade regime.

00:36:59.440 That's the tell,

00:37:00.900 right?

00:37:01.180 But they don't have

00:37:01.840 another story,

00:37:03.400 narrative,

00:37:04.000 theory ready to go.

00:37:05.880 And when it comes

00:37:06.740 to geopolitics,

00:37:07.780 you know more than I do,

00:37:08.760 so I'll defer to you

00:37:09.740 on the Chinese military threat.

00:37:12.980 Well,

00:37:15.140 it's going to be significant.

00:37:16.180 I mean,

00:37:16.340 we've got to be on watch

00:37:17.300 and starting tomorrow,

00:37:19.520 we're going to break

00:37:19.940 this all down,

00:37:20.620 but overnight,

00:37:21.160 I'll be putting stuff

00:37:21.760 up and get her.

00:37:22.560 But tonight's dangerous.

00:37:24.200 Every night's going

00:37:24.680 to be dangerous,

00:37:25.200 but particularly,

00:37:26.100 she cannot sit there

00:37:27.240 and have Trump go,

00:37:28.560 okay,

00:37:28.940 tough guy,

00:37:29.580 it's 125,

00:37:30.600 how about that,

00:37:31.660 and keep coming for him.

00:37:33.280 So,

00:37:34.240 you know,

00:37:34.580 zero hedge.

00:37:35.640 Today,

00:37:36.220 the 10-year auction,

00:37:38.760 and before,

00:37:39.520 the auction went okay,

00:37:40.220 but before that,

00:37:41.020 the bond market

00:37:41.780 did freeze

00:37:42.500 or appeared to freeze

00:37:43.680 for a few minutes.

00:37:45.200 It was rattled.

00:37:46.440 Part of the reason

00:37:47.060 it's rattled

00:37:47.700 is that,

00:37:48.940 you know,

00:37:49.460 they hadn't seen

00:37:50.160 the trap

00:37:51.200 that President Trump

00:37:52.060 was working on springing.

00:37:53.880 They thought it was

00:37:54.700 maybe a little too much

00:37:55.600 confusion

00:37:56.520 and that you had

00:37:57.340 this reciprocity,

00:37:59.060 but there wasn't

00:37:59.680 really a process

00:38:00.440 to get everybody in

00:38:01.660 the 75 to 100 countries in,

00:38:04.700 so they hadn't been able

00:38:05.560 to see that.

00:38:06.000 President Trump

00:38:06.420 made that clear later.

00:38:07.920 But the other thing

00:38:08.500 that spooked them,

00:38:09.320 Dave,

00:38:10.080 is this Senate bill.

00:38:11.380 Now,

00:38:11.600 you've got to help me here,

00:38:12.360 brother.

00:38:12.960 The House voted on it today,

00:38:14.420 and if it hadn't been

00:38:15.280 for a couple of Democrats

00:38:16.200 who have died,

00:38:16.900 I think,

00:38:17.160 from cancer,

00:38:18.320 I don't know

00:38:18.780 if the bill

00:38:19.160 would have passed.

00:38:19.980 I mean,

00:38:20.160 it was 216,

00:38:20.960 215,

00:38:21.500 right on the nose

00:38:22.280 with a couple of no's,

00:38:24.520 three no's

00:38:25.100 from the Democrats.

00:38:27.520 This Senate bill

00:38:28.420 is almost indecipherable.

00:38:29.780 I mean,

00:38:30.020 it was only a procedural

00:38:30.900 thing today,

00:38:31.560 and we promised,

00:38:32.080 President Trump

00:38:32.640 specifically promised

00:38:33.780 a trillion dollars

00:38:35.280 in cuts.

00:38:36.720 So,

00:38:37.120 this thing

00:38:38.840 could be horrific,

00:38:39.800 and the bond market

00:38:41.940 is not going

00:38:43.180 to sit there

00:38:43.960 and let us,

00:38:45.400 they get a vote now.

00:38:46.800 They're just not

00:38:47.500 going to let us

00:38:48.000 run up these

00:38:48.520 massive deficits

00:38:49.320 in both of these deals.

00:38:50.500 One has four trillion,

00:38:51.360 the other has five trillion.

00:38:52.680 I mean,

00:38:52.940 what's your sense?

00:38:53.780 I know the arm twisting

00:38:54.760 in the House

00:38:55.800 has been intense,

00:38:56.900 and they've committed

00:38:58.080 that they're going

00:38:58.640 to get to work

00:38:59.460 and we're going

00:38:59.840 to understand

00:39:00.400 this entire thing

00:39:01.500 and understand

00:39:02.000 what the spending is,

00:39:03.520 understand what

00:39:04.080 the deficits are,

00:39:04.880 how they're going

00:39:05.320 to get to zero,

00:39:06.660 understand where

00:39:07.360 the tax cuts are,

00:39:08.400 whose taxes are being raised,

00:39:10.300 and who are continuing

00:39:11.340 on with the lower taxes.

00:39:13.560 I mean,

00:39:13.820 what is your outlook

00:39:14.540 on this?

00:39:14.940 Clearly,

00:39:15.600 the zero hedge

00:39:16.320 was kind of mocking

00:39:17.060 everybody and said,

00:39:18.340 okay,

00:39:18.680 now that this crisis

00:39:19.460 is over,

00:39:19.860 we're back to just

00:39:20.600 running up a trillion

00:39:21.400 dollars every hundred

00:39:22.760 days, sir.

00:39:25.720 Yeah,

00:39:26.300 I think the analysis

00:39:27.780 of the budget

00:39:28.920 is fairly similar

00:39:29.920 to that with tariffs.

00:39:31.900 Where have any

00:39:33.040 of the House

00:39:33.680 members been

00:39:34.340 with a plan

00:39:35.100 or the courage

00:39:36.580 to come out

00:39:37.100 and defend

00:39:37.760 this America First

00:39:39.080 play on behalf

00:39:39.860 of the American worker?

00:39:41.400 And I get it.

00:39:42.340 I was there.

00:39:43.080 I mean,

00:39:43.300 it's a tough world

00:39:45.020 running against

00:39:46.040 the tooth fairy

00:39:46.880 and the Democrats

00:39:48.000 who are supposed

00:39:48.600 to be pro-labor

00:39:49.720 and pro-worker,

00:39:51.340 and where are they?

00:39:52.840 They have no strategy,

00:39:54.920 no nothing.

00:39:55.760 They're not populists.

00:39:57.640 And so,

00:39:58.100 yeah,

00:39:58.260 I've got no hope

00:40:00.540 at all

00:40:01.140 in the budget process

00:40:02.520 right now.

00:40:03.080 I haven't seen

00:40:03.640 any reason

00:40:04.380 to be optimistic

00:40:05.100 that there's cuts.

00:40:06.240 I think the Senate,

00:40:07.320 from what I read today,

00:40:08.960 the cuts are in the billions,

00:40:10.640 not the hundreds of billions,

00:40:12.400 not a trillion,

00:40:13.980 but in the billions.

00:40:15.680 And then the House is,

00:40:16.980 you know,

00:40:17.260 I think the Speaker

00:40:18.280 and some of the members

00:40:18.980 are saying,

00:40:19.580 that's not good enough.

00:40:21.640 So they're going to get,

00:40:22.840 go back and forth.

00:40:24.180 But at the end of the day,

00:40:25.000 they're going to lob it

00:40:25.720 into one big,

00:40:26.500 beautiful bill,

00:40:27.220 which means

00:40:28.340 there's going to be

00:40:28.880 extreme pressure

00:40:30.320 on everyone

00:40:31.100 to vote for that thing.

00:40:32.040 That's how they do it.

00:40:32.800 They time it.

00:40:33.380 They wait for a key choke point

00:40:35.280 when you're going home

00:40:36.780 or whatever,

00:40:37.380 and then they force you

00:40:38.320 to the wall

00:40:38.880 and that's it.

00:40:40.660 And so,

00:40:41.320 you're right.

00:40:42.300 On the bond market,

00:40:43.700 now we've added

00:40:45.320 other realities

00:40:47.260 to the risk calculus

00:40:48.720 around the world, right?

00:40:49.880 Now you've got geopolitics,

00:40:51.380 you've got China,

00:40:52.600 you've got the tariffs,

00:40:54.200 and President Trump

00:40:55.680 knows full well

00:40:56.840 that this cannot

00:40:58.680 be incremental,

00:40:59.900 this America first move,

00:41:01.740 right,

00:41:01.940 on energy,

00:41:03.240 all in,

00:41:04.160 on the tariffs,

00:41:05.200 all in,

00:41:06.720 and it's not the tariffs.

00:41:08.280 He wants them

00:41:08.740 to come to the table

00:41:09.700 like, you know,

00:41:11.900 van der Leyen

00:41:12.800 for the EU,

00:41:13.780 et cetera.

00:41:14.120 They offered

00:41:14.580 a zero tariff,

00:41:15.540 no way, Jose.

00:41:17.220 Two-thirds,

00:41:18.160 right,

00:41:18.280 I got a chart,

00:41:18.900 I'll show it

00:41:19.280 in the six o'clock hour,

00:41:20.200 the blue chart

00:41:20.820 that shows

00:41:21.260 for most of the G20,

00:41:23.120 the non-tariff barriers

00:41:24.280 are bigger by far

00:41:25.880 than the tariff barriers,

00:41:27.320 right?

00:41:27.560 And that's Bank of America

00:41:28.700 and World Bank,

00:41:29.580 by the way.

00:41:30.420 So if any of these

00:41:31.280 analysts want to question

00:41:32.500 the methodology

00:41:33.420 and the formula,

00:41:35.560 I'll show them

00:41:36.280 Bank of America,

00:41:37.100 World Bank,

00:41:37.760 same stuff.

00:41:38.880 No.

00:41:39.600 This is why

00:41:40.980 Navarro's a genius.

00:41:42.920 What Navarro said is,

00:41:43.900 hey,

00:41:44.140 you've got to put in

00:41:44.800 currency manipulation,

00:41:46.080 counterfeiting,

00:41:46.820 all the non-tariff barriers,

00:41:48.880 it's just not the number.

00:41:50.240 Because, you know,

00:41:51.340 people come all the time

00:41:52.420 and say, hey,

00:41:53.000 between Europe and us

00:41:53.800 it's just zero-zero,

00:41:54.820 let bygones be bygones.

00:41:56.300 No, no, no, no, no, no.

00:41:57.180 That's not how it goes.

00:41:58.260 This is still the way Germany,

00:42:00.120 we have not one American car

00:42:02.000 sold in Germany.

00:42:03.580 The Senate bill,

00:42:04.940 we're going to have

00:42:05.280 to deconstruct,

00:42:06.060 you're right.

00:42:06.460 You know,

00:42:06.680 you've got a trillion dollar

00:42:07.600 defense budget,

00:42:09.280 they're adding another

00:42:10.200 $170 billion

00:42:11.260 for the border,

00:42:14.080 for deportations.

00:42:15.660 These things have to be done,

00:42:17.200 but we've really got to go

00:42:18.140 through the fine-toothed comb

00:42:19.380 and find out about it,

00:42:20.900 plus the taxes,

00:42:22.000 all of it.

00:42:22.440 It's complicated.

00:42:23.040 I just,

00:42:23.720 this audience is going to come

00:42:24.900 under tremendous pressure

00:42:26.180 to roll over on this thing.

00:42:27.680 Go ahead, Dave.

00:42:28.780 Yeah,

00:42:29.060 I'll just throw in real quick,

00:42:30.640 I watched that debate

00:42:31.520 last night,

00:42:32.100 Schiff I disagreed

00:42:32.880 with on the tariffs,

00:42:33.940 but he did have

00:42:34.800 another parallel explanation

00:42:36.420 with the Federal Reserve

00:42:37.360 right?

00:42:38.480 Print too much money,

00:42:40.060 reserve currency,

00:42:41.660 interest rates way too low,

00:42:44.280 therefore you don't do

00:42:45.160 any saving,

00:42:45.800 you do all consumption.

00:42:47.820 That line of thought

00:42:49.760 is also powerful,

00:42:51.240 it parallels why we're

00:42:52.500 in a problem,

00:42:53.880 and the Federal Reserve

00:42:54.660 better get its act together

00:42:56.020 to be complementary

00:42:57.220 to this whole

00:42:57.980 America First project.

00:42:58.880 project.

00:43:01.800 Hang on one second,

00:43:02.880 Dave Brat's with me,

00:43:03.620 we're going to take

00:43:03.860 a short commercial break.

00:43:05.560 Take down the CCP.

00:43:07.440 Back in a moment.

00:43:08.200 While we may have won

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00:45:54.600 We are going to talk tomorrow

00:46:01.320 about non-financial

00:46:03.040 and non-tariff

00:46:04.020 and non-trade

00:46:04.920 because that's going to take

00:46:06.820 a life of its own.

00:46:07.940 There's going to be some retaliation

00:46:09.440 tonight you watch.

00:46:11.700 But Dave Bratt,

00:46:12.480 we've got to start talking about also

00:46:14.280 because this is going to last for a while.

00:46:15.920 There's not going to be

00:46:16.540 kind of a handshake and deal.

00:46:18.920 They're dug in,

00:46:19.680 and one of the reasons

00:46:20.180 they're dug in,

00:46:20.700 they've got their own

00:46:21.540 internal problems.

00:46:23.160 One of that is

00:46:23.800 they've got to be tough.

00:46:24.840 They've got to be tough

00:46:25.480 about Taiwan.

00:46:26.340 They've got to be tough

00:46:27.000 about the Panama Canal

00:46:28.520 besides the student visas.

00:46:31.400 And look,

00:46:32.060 I love the Lao-Bai Jing,

00:46:33.320 and I'm one of the leaders

00:46:34.180 of the anti-CCP movement

00:46:36.320 here in the country.

00:46:37.560 I'm the only civilian

00:46:38.380 in the history of the country

00:46:39.240 to be fully banned,

00:46:40.900 right,

00:46:41.200 and essentially politically

00:46:45.780 and economically quarantined

00:46:47.500 from China

00:46:48.580 or any Chinese communists

00:46:49.600 by the Chinese Communist Party.

00:46:51.080 On the day of President Trump

00:46:52.360 when he left the White House,

00:46:53.920 it was Pompeo,

00:46:56.240 it was Matt Pottinger,

00:46:57.460 it was Peter Navarro,

00:46:59.140 and myself.

00:47:01.120 And so I'm very proud of that.

00:47:02.260 I wear a badge of honor

00:47:03.140 because I detest the CCP,

00:47:05.200 but we've got to start thinking outside.

00:47:06.560 I know things are being developed,

00:47:07.940 but the student visa ban

00:47:09.940 has to happen.

00:47:11.340 You have to send

00:47:11.920 all $350,000 home.

00:47:13.400 You're also going to unmask

00:47:14.480 these colleges

00:47:15.160 that are really,

00:47:16.840 this is how they're getting by,

00:47:18.500 and that's just not right.

00:47:20.080 The priority has to be U.S. citizens.

00:47:21.800 The other thing I would do immediately

00:47:23.400 is I would take the deal

00:47:26.560 down in the Panama Canal,

00:47:27.720 Hutchinson, Wampoa,

00:47:29.260 and Larry Fink,

00:47:30.020 and look,

00:47:30.280 Larry Fink is,

00:47:31.580 I mean,

00:47:32.000 no angel, right,

00:47:32.920 a terrible guy,

00:47:33.840 but he's the one

00:47:34.340 that could step up and buy it.

00:47:35.260 I think it was a $25 billion deal.

00:47:36.720 Right now,

00:47:38.380 the Panama,

00:47:39.600 the government of Panama

00:47:40.280 should seize that

00:47:41.640 from Hutchinson,

00:47:42.280 Wampoa,

00:47:43.260 transfer it to Larry Fink's BlackRock,

00:47:47.520 take the cash

00:47:48.320 and send it right back

00:47:49.120 to Hutchinson,

00:47:49.620 Wampoa,

00:47:50.000 and say,

00:47:50.220 hey,

00:47:50.380 here's the cash.

00:47:51.080 You guys came to a deal.

00:47:52.500 It was stopped

00:47:53.160 by the Chinese Communist Party

00:47:54.300 after they had a deal,

00:47:55.400 just like TikTok.

00:47:57.120 TikTok's going to be

00:47:57.740 another fiasco

00:47:58.480 because the Chinese Communist Party

00:47:59.480 says,

00:47:59.860 hey,

00:47:59.980 deal off.

00:48:00.520 We're not selling.

00:48:01.240 Screw you.

00:48:02.300 If you want to do anything about it,

00:48:04.060 go ahead and try.

00:48:05.180 So there's all these types

00:48:07.700 of aspects.

00:48:08.580 This thing has 10 fronts to it,

00:48:10.640 all the way from the fentanyl

00:48:12.380 to the Arctic.

00:48:14.060 And right now,

00:48:15.080 we have to start being creative

00:48:16.820 about how we're thinking

00:48:18.560 about this,

00:48:19.160 the team over at the White House

00:48:20.220 and the National Security Council,

00:48:21.680 and of course,

00:48:22.640 the great Scott Besson

00:48:23.540 and others

00:48:23.900 because this is so far

00:48:25.720 metastasizing trade and tariff

00:48:28.820 and what they've done to us

00:48:29.880 on trade

00:48:30.340 is one aspect of it.

00:48:31.840 That's the big one.

00:48:32.620 But the grievances here

00:48:34.100 on both sides

00:48:34.920 are substantial.

00:48:35.900 You heard this morning

00:48:37.280 from Caroline Wren

00:48:38.320 and it was 10 o'clock

00:48:39.280 at night in Kuala Lumpur.

00:48:40.540 They had told the nations

00:48:42.040 of Southeast Asia,

00:48:42.920 you're not even going

00:48:43.440 to the United States.

00:48:44.360 If you've got a delegation,

00:48:45.780 get back

00:48:46.280 because you're not making

00:48:47.520 a deal with America.

00:48:48.800 That is how hardball

00:48:49.860 it's getting.

00:48:50.700 Dave Brett,

00:48:51.220 any thoughts about going forward

00:48:52.700 against the Chinese Communist Party?

00:48:54.200 Yeah, I'll just start off

00:48:58.180 again with the provaccio bonum,

00:49:01.980 the absence of the good.

00:49:04.680 Communism rejects God.

00:49:06.320 In the Judeo-Christian West,

00:49:07.580 God is the good.

00:49:09.780 And at Harvard,

00:49:10.900 the motto in 1640

00:49:12.480 and Princeton and Yale

00:49:13.480 and all the publics,

00:49:14.900 their motto was

00:49:16.260 truth for Christ and church

00:49:17.960 for hundreds of years.

00:49:19.840 Now, not so much.

00:49:20.940 So these universities,

00:49:22.060 what do they believe in?

00:49:23.260 So the left always used

00:49:24.800 to beat us conservatives

00:49:25.720 up with the moral arguments.

00:49:27.080 They'd make the little pithy,

00:49:28.700 sympathetic moral claims.

00:49:31.040 I'd love to hear

00:49:31.900 what the moral claims are.

00:49:33.000 We have the moral high ground now.

00:49:35.000 Trump is providential.

00:49:36.520 He doesn't want to act pietistic

00:49:38.460 and like we're holy rollers.

00:49:40.320 That's not what I'm after.

00:49:41.720 We need to make the moral argument

00:49:43.200 that we're the ones

00:49:44.240 fighting for the small guys.

00:49:45.520 That's always been

00:49:46.340 the Judeo-Christian West, right?

00:49:48.160 Christ came and said,

00:49:49.060 whoever takes care

00:49:49.820 of the least of these,

00:49:51.420 you're good, right?

00:49:52.960 In a simple summary,

00:49:55.520 that's the Sermon on the Mount.

00:49:57.020 Love your God

00:49:58.200 and love your neighbor

00:49:58.860 as yourself.

00:49:59.920 That's the piece

00:50:00.660 I would throw into

00:50:01.280 the White House theorists.

00:50:02.400 While they're composing

00:50:03.340 all of their reactions

00:50:04.980 to the non-tariff barriers,

00:50:06.900 everything that China's doing

00:50:08.400 hurts people.

00:50:09.500 Everything we're doing

00:50:10.580 helps people.

00:50:11.780 And if you draw

00:50:12.420 that contrast,

00:50:13.660 the left does not have

00:50:14.660 a narrative to compete

00:50:15.580 with that story.

00:50:16.400 Dave, hang on.

00:50:19.780 Charlie Gasparino

00:50:20.740 is reporting that,

00:50:22.460 and I've heard

00:50:22.920 similar to this,

00:50:23.840 it wasn't China last night

00:50:25.120 selling bonds

00:50:25.800 that kind of caused

00:50:26.560 President Trump

00:50:27.140 to get his attention

00:50:28.360 and actually freeze

00:50:29.400 the bond market

00:50:30.040 this morning.

00:50:30.500 It wasn't China.

00:50:31.600 A lot of people thought

00:50:32.240 China might be offloading

00:50:33.500 their treasuries.

00:50:34.960 It turns out,

00:50:36.540 rumor has it,

00:50:37.240 it was Japan

00:50:37.940 because they were nervous

00:50:39.320 about the direction

00:50:40.020 of this thing.

00:50:40.400 We will make sure

00:50:42.600 we break all that down

00:50:43.940 for you tomorrow morning

00:50:45.020 as we work overnight

00:50:46.620 to get this.

00:50:49.280 Birchgold.com,

00:50:51.220 if you haven't taken

00:50:52.620 this wild ride today

00:50:53.700 and think you need

00:50:54.660 to know about gold

00:50:55.440 or need to talk

00:50:56.220 to Philip Patrick

00:50:57.040 and the team

00:50:57.660 of everything that's

00:50:58.700 happening in gold

00:50:59.540 and why it's a store of value,

00:51:01.160 why we're going to go

00:51:01.880 through this rollercoaster,

00:51:03.080 it's only going to get

00:51:04.360 crazier, folks.

00:51:05.540 That much I can guarantee you.

00:51:07.740 You're going through

00:51:08.260 a massive geopolitical

00:51:09.600 and a geo-economic

00:51:12.320 earthquake.

00:51:15.260 And it's tectonic plate shift

00:51:16.340 is a better term for it.

00:51:17.440 It's not going to slow down

00:51:18.320 anytime soon.

00:51:19.620 Birchgold.com

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00:51:22.100 The Chinese Communist Party

00:51:23.140 already said they're starting

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00:51:32.420 All of it's free

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00:51:42.920 Dave Bratt is going to be back.

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00:52:19.840 Particularly in a day

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00:52:21.840 Who knows

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00:52:24.220 One thing I can tell you,

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00:52:28.320 Right now,

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00:52:34.460 Stick around.

00:52:35.360 Short commercial break.

00:52:36.700 We'll be back

00:52:37.360 in the war room

00:52:37.980 in just a moment.

00:52:45.600 The April 15th

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Bannon's War Room - April 10, 2025

Episode 4401： Trump Fights Back Puts 125% Tariffs On China

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