Valuetainment

00:00:00.000 But let's talk about tariffs. Let's talk about tariffs. So FedEx sues the U.S. government

00:00:05.520 seeking full refund over Trump's tariffs. Rob, if you got that clip, let's start off with that

00:00:10.600 because the first story we heard was, you know, FedEx, but it didn't end with FedEx. There's many

00:00:17.120 more names that are coming up. Go ahead, Rob. FedEx is suing the Trump administration just days

00:00:22.200 after the Supreme Court ruled most of his tariffs are illegal. The company is asking for a full

00:00:27.220 refund of all the payments it made to the government under its tariff policies. Let's

00:00:31.940 go live to MarketWatch Bureau Chief Rob Schroeder. Rob, thank you for your time today. So what is

00:00:37.580 the procedure here looking? What is it going to look like for companies who are seeking to get a

00:00:42.380 refund? After the Supreme Court's really quite earth-shaking decision last week to deny or to

00:00:50.700 really reject several of President Trump's tariffs that he had used to collect duties. So what's

00:00:59.400 happening now in the case of FedEx, for example, is they're going to what's called the Court of

00:01:04.400 International Trade against the Trump administration in hopes, in desires that they get a refund. Now,

00:01:12.860 this promises to be quite a long process, as the president himself suggested, taking as many

00:01:20.600 years, five years. It could take as long as, you know, five years. It could take two years, three years,

00:01:25.580 five years. Kevin O'Leary was talking about the other day how problematic it is. I'll give you guys some

00:01:29.820 numbers here, and then Kenneth, I'll come to you first. You got $175 billion right now is what we're

00:01:35.440 looking at. L'Oreal, Dyson, I think Prada, a couple other companies, Costco, Revlon are also those that

00:01:44.180 filed suits before. Over 1,000 importers total filed similar refund claims post-ruling, spanning large

00:01:53.260 corporations and smaller importers for a total of about $175 billion. What do you think is going to

00:01:59.080 happen here, Kenneth? Well, first of all, I think it's important that most of them do get their money

00:02:04.100 back that, you know, if this was an illegal tariff, then the United States has to pay it back. On the other

00:02:11.000 hand, $175 billion, that's a lot of money, but not in the context of the U.S. budget. It's kind of like

00:02:17.620 chump change in terms of things. And I'm sure the president, as economic advisors, knew this might

00:02:24.080 happen. They knew they might have to pay it back and fill it in other ways and view it as collateral

00:02:29.700 damage for their strategy. I also want to say that, you know, there's all this drama over tariffs.

00:02:36.380 If you had 15% tariffs all over the world, I mean, we economists don't favor that. There'd be a lot

00:02:43.040 of costs. I don't think we'd be efficient. It's not the end of the world. I mean, a lot of the dramatic

00:02:48.040 effects of tariffs come from, we don't know what's going on. When we had Liberation Day, the problem

00:02:54.080 wasn't the tariffs. The problem was, you know, he had this chart that didn't really make sense. And

00:02:59.940 people are thinking, oh my God, you know, he's got his finger on the trigger. You know, what's he

00:03:05.040 thinking? But, you know, the tariffs themselves are not the issue. It's getting some certainty.

00:03:10.140 And we don't have it now because we don't know what will work. We don't know what won't work.

00:03:15.020 We had all these deals. And now suddenly, I mean, the U.K. had 10%. Now it's 15%. And they say,

00:03:21.640 what gives? And of course, you know, there are many things playing out here. But at the end of the

00:03:29.420 day, this is more about a fight for power than it is specifically about some tax. Tom, what are you

00:03:35.920 at with this? So, you know, people like to say, oh, the tariffs were illegal. The tariffs themselves

00:03:41.560 were not illegal. And CBS is calling the tariffs illegal. What the Supreme Court said very narrowly,

00:03:48.140 keep me honest here, was the president did not have the authority to put those things in place

00:03:54.240 because he needed to get permission from Congress. These were not like illegal or backdoor extortion.

00:04:01.880 This was normal negotiation, the way tariffs have been used for 100 years. And you could debate whether

00:04:07.860 tariffs are good or bad. These tariffs did not create runaway inflation as predicted. The market

00:04:14.680 calmed down because, as you pointed out, and you're correct, the market didn't have

00:04:18.760 certainty on Liberation Day. And the market, as they say, freaked the F out on April 2nd of last

00:04:26.520 year. But then the market came back. So these tariffs are not illegal. The president didn't have

00:04:32.220 permission from Congress. But if Congress got together tomorrow morning, Pat, and simply stated,

00:04:39.060 we hereby ratify the tariffs as implemented by the president and voted, that simple vote would

00:04:48.340 retroactively tell the whole world, hey, we're all together here. We're behind the president.

00:04:54.000 And you better deal with these. And you've negotiated trade deals with us. So, you know,

00:04:59.500 the guy that's negotiating with you and Whitcoff and Besant and Rubio and everybody that was involved,

00:05:04.920 hey, we're behind our leadership. Deal with it. That's all they have to do, Pat. A vote by the

00:05:11.580 U.S. Congress that says, we hereby retroactively ratify that we approve the tariffs as in force

00:05:19.580 as they are today. Here. There you go. Yeah. The question is, will that happen? No, that's not

00:05:26.380 going to happen because it's anything but Trump. Of course. So the problem, to me, it's a circle.

00:05:34.600 Like the Constitution protects against a, you know, dictator coming in and choosing to do

00:05:40.800 everything they want to do. That's not Trump. I support what Trump was doing with this and not

00:05:45.580 because it affected us negatively as well. We buy products from many of these countries that we go

00:05:51.280 back and forth from. We're right now in Italy and we are in the shoe business and the fashion business.

00:05:56.360 So we're dealing with the tariffs that you have to buy and we eat the costs in many cases. But for me,

00:06:00.900 it was more about what China was going to do. And you see here, Xi gains leverage before Trump's

00:06:09.720 summit after tariff reversal. Bloomberg writes that article. You don't think Xi knows he got the

00:06:14.440 leverage now? You don't think these countries now sit there? Macron asks Trump to lift sanctions on

00:06:20.300 European officials, right? You know, U.S. tells partners to you better honor tariff deals

00:06:25.940 as Trump regroups. Even yesterday, he talked about it in a state of the union when he said

00:06:30.060 most of the countries we're speaking to are still willing to go with the agreements we made,

00:06:37.040 meaning even though Supreme Court ruled against us, they're still willing to negotiate with us in

00:06:41.500 that way. So he needs that fear. A leader has three different things that you're dealing with.

00:06:46.100 Respect, likability and fear. OK, so likability. He tends to be likable when he's negotiating his

00:06:52.320 charming, like you talked about earlier, right? Respect. We have some of that respect. You need

00:06:56.760 a little bit of the fear. Nobody feared Biden. Nobody feared Obama when you're negotiating. You

00:07:01.560 didn't fear these guys. We need a little bit of fear. America hasn't been feared in a long time.

00:07:05.400 We haven't had somebody that comes in. And my biggest concern was China. So I kind of liked that 1.00

00:07:09.680 this was here, but then it was out. And it was so important that yesterday, Rob, if you want to play

00:07:14.020 the clip when the president was coming in and how he walked past Amy Coney Barrett, Rob, if you want to

00:07:20.040 play that clip, this is not the one. It's the other one. I send you two of the clips. Yeah. I texted

00:07:24.740 to you a minute ago. If you look at the clip I just sent you, Rob, if you just check your text,

00:07:32.100 I text it to you directly to your text right there. Watch this, folks. Go ahead. OK, so one by one.

00:07:40.080 We just saw the president obviously shake the chief justice's hand. There's Justice Elena Kagan,

00:07:44.740 Gregg Kavanaugh, Amy Coney Barrett. Of course, he chose Amy Coney Barrett for the bench.

00:07:52.280 She was one of the justices who did not vote in his favor and did not shake her hand there.

00:07:59.080 Did interact with the chief justice, but then with none of the other justices.

00:08:03.840 And John Carl, this was a question for the president today. Obviously, he didn't want to go on the record.

00:08:07.800 He didn't offer any answer to us. What do you think about that?

00:08:09.680 But it was clear to us. You can pause the right. What do you think about that?

00:08:12.620 Well, I mean, I think Tom had it right that the Supreme Court ruling was correct, 0.75

00:08:17.600 that it wasn't that tariffs are illegal. It was that the procedure was illegal.

00:08:22.580 And I have a feeling Trump and his people knew this was coming all the time.

00:08:27.220 What taking this ruling is meant has been that he can't use it as capriciously as he's been doing,

00:08:33.700 which he's a good negotiator and sometimes use it effectively.

00:08:37.560 On the other hand, I have friends who run small businesses.

00:08:40.920 It has been brutal on them because not only are there the tariffs and you don't know what's coming,

00:08:47.340 but there are actually a lot of costs, administrative costs.

00:08:50.760 If you're a small business, if you're importing, it's not just that you're paying the 15, 20 percent,

00:08:56.900 but there are all these other fees that places like FedEx and others are charging

00:09:01.600 because they have to do all this paperwork that they didn't have to do before.

00:09:05.760 So I think a thing that hasn't been talked about enough is how tough this has been on small businesses,

00:09:11.780 this uncertainty. Maybe it's for the larger good, but it's not been painless.

00:09:16.920 Yeah, there is something to that.

00:09:19.140 And I think maybe an optimal way I do would be to exempt small businesses under a certain size.

00:09:25.180 But I think that this is outrageous by the Supreme Court.

00:09:30.340 I think the Supreme Court has acquired too much power since the Constitution was created.

00:09:34.440 And they look at this like an economic thing, but I think it's a matter of national security.

00:09:39.320 Like, Rob, if you could pull up the picture I sent you, these things that, whether it's semiconductors,

00:09:45.700 advanced chips, aerospace, rare earth mining, rare earth refining,

00:09:49.340 less than 10 percent of those things are manufactured in the U.S.

00:09:52.240 So if that's not a matter of national security, I don't know what it is.

00:09:54.880 And the primary goal, if not one of the many goals of the tariffs,

00:09:59.320 is to get those things back to the U.S. to be produced in the U.S.

00:10:02.180 because it's impossible to compete with a country that pays slave wages to produce items 0.75

00:10:07.220 because obviously it's going to be cheaper to have manufactured in a different country and brought over here.

00:10:12.240 So I didn't even think the tariffs were a strong enough measure to enforce that,

00:10:15.980 but they were a step in the right direction.

00:10:17.980 So, you know, how do we solve for that?

00:10:19.740 How do we solve for being undersold by, you know, third world countries or countries like China 1.00

00:10:23.600 who could produce something for a fraction of what we could produce it for?

00:10:26.520 And when they're critical to our national security, which is why I think it is a false ruling by the Supreme Court.

00:10:31.920 It is a matter of national security.

00:10:33.060 It's not just an economic matter.

00:10:36.220 And I think a lot of people also voted for that, right?

00:10:38.700 The idea was to bring it here.

00:10:41.280 Let's find a way to bring it here.

00:10:43.260 But I think, Brandon, to go through that, what did he say yesterday?

00:10:46.480 Remember the $18.5 trillion number?

00:10:48.740 Under Biden, the investments of foreign investment coming in was less than a trillion dollars

00:10:54.340 and a lot less than a trillion dollars.

00:10:56.160 But why have gotten the commitment over $18.5 trillion

00:10:59.420 and a lot more than $18 trillion of foreign investment coming in here?

00:11:02.780 Okay.

00:11:03.660 That's good.

00:11:04.600 The challenge is America is not going to feel that right away.

00:11:08.360 No.

00:11:08.620 That $18 trillion is going to take how long?

00:11:10.440 Yeah, years, decade.

00:11:11.660 I don't know, five, 10 years, 15 years, 20 years?

00:11:14.040 Buy the land, build the factory, hire the people.

00:11:16.720 It takes a minute.

00:11:17.480 So the problem is some of these ideas that are good ideas and the pain to go through the

00:11:24.140 tariffs of making sure you put China in check, put some of these other countries in check, 0.83

00:11:28.520 you can't fix that in 13 months.

00:11:31.660 Yeah.

00:11:32.040 And you said, we don't know if it's going to work or not, right?

00:11:34.320 But it was sort of a war on everyone.

00:11:35.940 I mean, so I'm all for national security and thinking about just things like the drugs that

00:11:42.740 we use.

00:11:43.220 We found that out in the pandemic.

00:11:44.600 We were importing everything from India and China.

00:11:47.100 We didn't have control over it.

00:11:48.600 So there are things which are national security.

00:11:51.420 But, you know, is wine national security?

00:11:53.940 You know, is everything national security?

00:11:55.700 And I think, you know, if he uses them under these other mechanisms, he can target those

00:12:03.700 things.

00:12:04.160 But the trouble is, as a negotiator, he just wanted, you know, free form to do whatever

00:12:10.740 he wanted.

00:12:11.540 If he didn't like putting Bolsonaro in jail in Brazil, if he didn't like the free speech

00:12:18.080 law in the UK, you know, he would do something.

00:12:20.900 And I think reining that in was good.

00:12:23.800 You think reining that in was good?

00:12:25.080 Yeah, that, you know, you focus it on national security, that's fine, but not necessarily

00:12:31.640 every whim that you have.

00:12:33.820 That was, I think, really what, you know, seemed odd about the whole thing.

00:12:38.220 So I'm going to ask you a crazy question.

00:12:39.720 This wasn't even in the topic, Tom.

00:12:41.520 This goes to both of you.

00:12:43.300 And you're a national security guy.

00:12:44.980 You know, you got your bachelor's and master's in national security.

00:12:47.440 So your thoughts on this as well is, so if the ruling comes back and they say, well,

00:12:54.060 yeah, you never had the authority to put the tariffs on all these countries, six to three

00:12:58.420 Supreme Courts against you.

00:12:59.980 Really?

00:13:00.620 Yeah.

00:13:01.280 Even the other two that I appointed?

00:13:03.100 Yes.

00:13:03.420 They also ruled against you.

00:13:05.120 What?

00:13:05.500 So I put them there, but they're ruling against me, yes.

00:13:09.740 Got it.

00:13:10.740 All right.

00:13:11.620 But all you have to do is put it through Congress to get it passed.

00:13:15.560 No problem.

00:13:16.580 Well, guess what?

00:13:17.880 If you're sending B-2 or B-52 bombers to go help, you know, blow up the six nuclear 0.99

00:13:26.600 side Iran has, some people are saying, you also need to run that through Congress first.

00:13:31.840 Okay.

00:13:32.160 There's also a, hey, you need to get that approval.

00:13:34.380 Hey, the stuff that we're doing with Iran, you also need Congress approval.

00:13:38.080 Doesn't that make everything that before you make a decision like that, you have to go

00:13:42.500 and then how do you become unpredictable to the enemy?

00:13:45.200 An element that the president needs to be unpredictable.

00:13:48.560 Instead, it's like, no, hey guys, we're about to attack you at 6 p.m. tomorrow night.

00:13:53.300 Be ready.

00:13:54.060 We're coming to you.

00:13:55.300 Can that argument be made for that as well with Iran?

00:13:57.540 That's why the immunity was important.

00:13:59.900 It's very important.

00:14:01.660 The executive order is the mechanism for the president to do exactly what you're talking

00:14:10.420 about.

00:14:11.180 However, there are these limits.

00:14:14.060 As a matter of fact, I believe it was Massey and Ro Khanna, Rob, can you look this up, who

00:14:19.560 were pushing a war powers resolution to force the president to come to Congress to get approval

00:14:28.000 for things like that exactly as you point out.

00:14:32.660 But it was Massey and Ro Khanna a week ago talking about pushing something forward so that the

00:14:42.900 president has to go through Congress.

00:14:47.020 Yep.

00:14:47.640 Section five of war powers right from unauthorized hostilities.

00:14:51.220 And this is Massey supported by Khanna.

00:14:54.720 So they're doing the same thing.

00:14:56.480 They're trying to get this resolution started.

00:14:58.320 Pat, exactly what you're talking about.

00:15:00.280 They're saying, hey, you needed to come to us from this.

00:15:04.520 So now you need to come to us for this.

00:15:06.400 But what people don't understand, leaders have to be unpredictable.

00:15:11.060 Leaders have to take measures.

00:15:12.980 Now, the president as commander in chief is allowed to do a variety of things militarily.

00:15:19.560 And he has the executive order pen.

00:15:22.220 Those are the things where he can act.

00:15:24.440 Can't they keep coming back to you, though?

00:15:26.240 Can Congress keep coming back and say like Rand Paul was right.

00:15:28.900 I was with Rand Paul a month ago.

00:15:30.240 There it is.

00:15:30.880 And Rand Paul says, hey.

00:15:32.240 February 19th.

00:15:33.160 Yeah.

00:15:33.440 Rand Paul says, hey, you know, you realize if I said, so do you think Supreme Court's going

00:15:37.500 to rule against him or for him?

00:15:38.880 If they follow the law, they're going to rule against him on the tariffs.

00:15:41.600 He said this a month ago.

00:15:42.740 He ended up being right.

00:15:43.940 So now can the same argument be made against anything he does with Iran?

00:15:47.180 What if what if they do what they're doing to Iran and something doesn't go right? 0.61

00:15:51.360 Can they come back and say, hey, you went against the Constitution?

00:15:54.360 I think you need.

00:15:55.140 This is the War Powers Act. 0.66

00:15:56.780 And this is what kind of mass here threatened the for to force a vote on Iran as prospective

00:16:02.200 view attack looms.

00:16:03.920 That's what they're testing.

00:16:04.940 They're testing War Powers. 0.86

00:16:06.000 Why wouldn't you test it?

00:16:07.740 What I'm saying is if you're against him, you would test.

00:16:10.380 So does this push it back to Supreme Court?

00:16:12.900 Does it go back to Congress?

00:16:14.220 I mean, everybody's always fighting for power.

00:16:16.560 So there's, you know, the president wants more power.

00:16:18.660 The Congress wants more power.

00:16:20.220 The Supreme Court wants more power.

00:16:22.240 Everybody's fighting for power.

00:16:24.000 And part of, you know, the democracies and their balance of power is deciding, you know,

00:16:30.100 where it goes.

00:16:30.760 I think on economic stuff, being unpredictable is not so great.

00:16:35.580 I mean, occasionally a negotiation, but I have a friend who imports wines from Italy and

00:16:41.400 a very small business.

00:16:43.660 And the unpredictability is really hard to deal with.

00:16:46.300 For most people, you want to invest.

00:16:48.280 You want to know what's going on.

00:16:50.020 Like, can I rely on something in three to five years if I invest?

00:16:53.860 But obviously, for military strategy, it's like the last thing we want is for our enemy,

00:16:59.920 our adversary to know.

00:17:01.580 So, yeah, I mean, these are things that constantly need to be talked about and debated.

00:17:06.040 I think on the economic side, the case for having, you know, more process.

00:17:12.620 That's really what happened on the tariff ruling.

00:17:15.980 There are these, all these other mechanisms you can use.

00:17:18.860 They just require a little more process, a little more procedure.

00:17:22.480 And I think the Supreme Court actually very openly was saying, please use these instead.

00:17:28.020 They weren't saying we're going to ban everything.

00:17:30.820 We just, you know, this door, maybe you shouldn't, this approach you shouldn't use.

00:17:35.560 It's too slow, though, for him.

00:17:37.620 And remember, he's a capitalist.

00:17:39.160 He's an operator.

00:17:39.960 He comes from the private market, where if you don't move fast, you get killed.

00:17:44.020 He's a CEO.

00:17:44.480 Right?

00:17:45.360 In politics, everything is super slow.

00:17:48.460 Well, that's fine.

00:17:49.580 But in economic policy, like, you know, would you want to know if your tax rate on your company

00:17:55.820 was going to be 50% or 10% two years from now?

00:18:00.000 You'd kind of like to know that if you're making an investment.

00:18:02.680 So the unpredictability for ordinary people, for small businesses, is not great.

00:18:08.960 There are cases where it are.

00:18:09.940 I mean, you know, they're different horses for different courses, I guess, as they say.

00:18:14.880 But we have to compete with countries who are able to move at light speed, though.

00:18:17.360 I mean, like, Russia took their interest rates to 22% when we put the sanctions on them,

00:18:21.940 and they were able to stabilize their economy.

00:18:23.540 So, I mean, you kind of have to be able to swiftly move if other countries are doing things, too.

00:18:28.060 Well, for sure.

00:18:29.000 No, but that's a case of if you're in a crisis.

00:18:31.920 Russia was in a huge crisis.

00:18:32.900 I think we're in a crisis with what Trump's trying to combat against.

00:18:36.300 Well, we're in a much more slow-moving crisis than what Russia was doing. 0.94

00:18:41.560 And I don't, you know, I think there are crises in America.

00:18:45.180 There are things that are going really well.

00:18:46.580 And you don't want to throw out the baby with the bathwater.

00:18:49.440 I mean, that's the balance.

00:18:50.380 There's two problems on economics.

00:18:53.020 The first one is that we need to understand that our Congress is heavily influenced by foreign lobbyists.

00:19:04.160 China and others, we need to understand that.

00:19:06.080 The president has to work against that because otherwise his negotiations on economics will get completely undermined.

00:19:14.940 But your comment about consistency and predictability is correct on one line.

00:19:21.020 Because there was so much unpredictability and so much dirt being thrown into the air by the Democrats, that's what happened on April 1st, the stock market.

00:19:30.040 It didn't understand the tariffs.

00:19:31.500 It thought there was going to be runaway inflation.

00:19:33.900 Everybody was all full negative.

00:19:36.000 And the market was unpredictable.

00:19:37.700 And the market, what did it do?

00:19:39.380 It shifted equities to bonds in a single day.

00:19:43.060 Boom.

00:19:43.780 And you saw the market come down.

00:19:45.380 And then it came back.

00:19:47.060 Why?

00:19:47.620 Because everything was OK.

00:19:49.160 Nobody got hurt.

00:19:50.220 No bomb was thrown off.

00:19:51.900 So the president needs to have that unpredictability dealing with other people.

00:19:57.640 I mean, look at the trouble we had with Canada.

00:20:00.380 Canada is 2.1 trillion, I mean, 2.3 trillion GDP, slightly larger than Russia.

00:20:09.760 And we are 31.

00:20:11.600 And this gnat was sitting there creating these hostilities because he was handcuffed.

00:20:19.260 You have to be able, as a leader, to lead in these things.

00:20:23.120 You do want economic consistency, but when you're really trying to break two things, all these entanglements with your own Congress who are bought and influenced by foreign governments, you have to break that.

00:20:36.520 So he has to have that pen and that power to break through that.

00:20:40.580 Because in a normal circumstance, if we had rational representatives, you grab an economic committee, you say, this is the play we got to call.

00:20:49.700 We need to do this, this, and this because of steel and China. 0.95

00:20:53.160 Are we all in?

00:20:54.200 Okay, we're going to go.

00:20:55.860 Hut, hut, hike.

00:20:57.280 Unfortunately, if you go and tell all those people they've got lobbyists, they've got people, then everybody knows about it.

00:21:04.020 But let's be careful.

00:21:05.220 We're talking about the long-term balance of power.

00:21:07.920 Again, we could have a president, Mom Donnie, not him in particular, a president in a few years.

00:21:14.480 And do you want them to have all this power without Congress to be a check on it?

00:21:18.600 I have to say one of the things that upset me a lot about what the Democrats wanted before the election was they wanted to get rid of the filibuster.

00:21:26.980 Biden said that.

00:21:28.400 President Obama said that.

00:21:31.140 Nancy Pelosi said that.

00:21:33.240 And it's so short-sighted.

00:21:34.780 They wanted to get rid of the filibuster because they wanted, you know, much more power when they were in power.

00:21:40.200 They didn't want any checks and balances.

00:21:42.160 I think of the filibuster as one of the fundamental things that we have.

00:21:46.660 And to their credit, the Republicans, even when Trump has pushed them, have not gone along with that.

00:21:51.440 So, we're not just talking about today.

00:21:54.500 You like Trump.

00:21:55.580 You like what he's doing.

00:21:57.260 What about the next guy or woman?

00:21:59.940 You know, what about it?

00:22:01.160 So, you know, that's where the problem lies.

00:22:03.480 That was the Gorshitz argument.

00:22:06.760 So, yeah, that's where I have the concern.

00:22:09.520 So, getting rid of the filibuster gets what?

00:22:11.300 It makes the Senate instead of 60 out of 100 to 51?

00:22:14.760 Yeah, you get a tiny majority and you just do whatever you want.

00:22:18.360 They wanted to make Puerto Rico and Washington, you know, into Senate seats in order to cement things. 0.77

00:22:24.300 They could just pass any law.

00:22:26.020 And the filibuster is very – they made a big mistake back, I think it was under Obama,

00:22:31.340 when they took away the filibuster for most court appointments, thinking, you know,

00:22:36.480 not thinking a couple moves ahead.

00:22:38.640 If I can be the chess player, it'd be.

00:22:40.180 And I think we have to be careful also, if you are – want President Trump to have more executive power,

00:22:47.420 that it's not something that somebody that follows him that inherits.

00:22:51.060 We have the greatest country in the world.

00:22:53.640 250 years.

00:22:55.120 It's worked really well.

00:22:57.000 And you've got to be really careful about upsetting a balance of power that has worked.

00:23:02.180 And I understand the paralysis.

00:23:04.340 There was this New York Times article four or five years ago that got me very upset that said,

00:23:08.760 we're going to only get to the end of this when one side has all the power,

00:23:13.120 meaning I think the progressives have all the power.

00:23:15.900 Now the shoe is on the other foot.

00:23:17.780 I don't think that's a good thing.

00:23:19.460 I think we have to, you know, figure out how to reestablish this balance.

00:23:23.480 That's going to take Congress stepping up.

00:23:27.120 Will they?

00:23:28.980 Will they is the question.

00:23:30.140 But look, to me, the more and more we get into this debate and both sides of the argument are given, Tom,

00:23:36.340 like what you're saying and then what he's saying about Mamdani, even though he's not born here,

00:23:40.180 but a Mamdani type of person like could become president.

00:23:43.260 Let's say AOC, who is born here, could be that. 0.98

00:23:45.800 But the Supreme Court, to me, gives me confidence about the future.

00:23:53.180 The Constitution, how it's set up, gives me confidence about the future. 0.98

00:23:57.080 That even a crazy, psycho, progressive, socialist commie that becomes a president, 0.97

00:24:01.960 how much can he or she get done? 0.99

00:24:04.280 You know, are they going to be locked in on how much they can do? 0.88

00:24:06.460 Of course they can sell their ideology, confuse the kids, and go back to some of those gays, 1.00

00:24:11.060 they opened a border and what Biden did, opening the border for four years

00:24:15.500 and getting the, what, 10, 12, 15, 20 million, whatever the number is.

00:24:18.440 That's a massive crisis.

00:24:20.060 But even with that crisis, you know, like if you actually think about this, Tom,

00:24:24.920 Kenneth, you know, so they opened a border for four years.

00:24:29.500 Every month we had to hear why it's tough to close it and how much work it takes.

00:24:34.980 Every month we had to see interviews of Border Patrol guys, we're not allowed to do this.

00:24:39.820 We have catch and release.

00:24:41.060 We can't do that.

00:24:42.140 They're not letting us do this.

00:24:43.480 What do you mean they're not?

00:24:44.340 They're not.

00:24:44.820 Once the last time Kamala Harris came here, the borders are, you can't come.

00:24:47.980 Eventually one time she came, and I don't know where she went, Guatemala or whatever it is that she ended up doing.

00:24:53.460 But where was the Supreme Court against that?

00:24:57.360 Where was the Congress protecting?

00:24:59.100 So that playbook to me, if I'm a Democrat, I'm like, guys, every four years,

00:25:05.020 if we get into the office, open up the borders again. 0.74

00:25:09.140 Open up the borders again.

00:25:11.340 Eventually, within 50 years, we're going to dominate this entire thing.

00:25:15.080 Then Republicans are like, what do you mean you're going to open up the borders?

00:25:17.740 And so, okay, I dare you, go ahead and get rid of the people that came here illegally. 1.00

00:25:21.100 Go ahead.

00:25:22.060 What's going to happen if you get rid of people illegally? 1.00

00:25:23.960 You're going to get an Alex Petty.

00:25:26.020 You're going to get a, you know, what's her first name?

00:25:31.760 Rachel.

00:25:32.480 Rachel Good, right?

00:25:33.400 You're going to get a Rachel Good. 0.95

00:25:34.780 And then what happens when you get a Rachel Good and Alex Petty?

00:25:37.280 Then the other side uses a, they're killers.

00:25:39.980 Ilhan Omar was screaming that yesterday, I believe.

00:25:41.820 They're gunning us down in the streets.

00:25:43.100 So, to me, on one end, one has to follow the laws.

00:25:48.380 But on the other end, you're allowed to put 12 million people here and nobody was held accountable.

00:25:52.700 What happened there?

00:25:54.280 How does Supreme Court of Congress protect us with that?

00:25:56.780 Is this it, Rob?

00:25:57.720 Play this clip and then I want to go to Kenneth.

00:26:00.280 Go ahead, Rob.

00:26:00.740 Sanctuary cities that protect the criminals and enact serious penalties for public officials who block the removal of criminal evidence.

00:26:10.280 You ought to be ashamed of yourself.

00:26:11.420 In many cases, drug laws, murderers all over our country, they're blocking the removal of these people out of our country.

00:26:20.320 And you should be ashamed of yourself.

00:26:26.960 Let me pause it right there.

00:26:28.800 So, it's legal for them?

00:26:30.700 Was anybody held accountable for letting 10, 15 million people in?

00:26:33.680 No.

00:26:34.020 Where's the accountability?

00:26:36.020 Well, the accountability, hopefully, is in our democracy. 0.95

00:26:39.740 It was one of the dumbest things they did, not only economically, socially, but politically.

00:26:45.920 I mean, I think if I were the Republicans, I'd hope the Democrats stick to that position forever. 0.96

00:26:50.620 How?

00:26:51.600 Oh, I mean, it helped.

00:26:52.520 It was one of the big issues for President Trump and the Republicans in getting elected in 2024.

00:26:57.700 You keep doing that in three, five terms, and Americans are not making babies, and you keep pushing LGBTQ, and LGBTQ gets younger kids to transition and like the same sex. 0.77

00:27:09.060 And we know science doesn't show that same sex can make babies.

00:27:11.760 So, birth rate goes to 1.58, and then you get control of Hollywood and all the movies and cartoons you make to confuse the hell out of the kids.

00:27:18.740 That's a great combination strategically long-term.

00:27:21.400 Keep bringing illegals in. 1.00

00:27:23.000 Open the floodgates for four years.

00:27:24.980 Do that four or five times over 50 years.

00:27:27.000 We own the vote for 50 years.

00:27:28.940 Well, I want to be a little more optimistic about it.

00:27:31.800 I mean, I have to say I've come from a very liberal university, and different people have different views on this, and there's some balance.

00:27:40.660 And I think the Democrats push too hard in one direction, and they're paying for it.

00:27:46.060 These are fantastic issues for the Republicans because I think a lot of people, you know, feel the Democrats went much further than you see in other countries on a lot of these issues.

00:27:55.220 They have a lot less immigration in Europe, and they're so angry about it.

00:28:00.880 It's the biggest issue there.

00:28:02.580 I believe in legal immigration, by the way.

00:28:04.980 I think that's really important.

00:28:06.360 We should have more of it.

00:28:07.820 Yeah, I mean, I think that's being lost in this debate, that we need more of that.

00:28:12.760 But, yeah, I don't have like a simple answer to this.

00:28:16.720 You know what I'm saying, right?

00:28:17.900 Because to me, like, I love that you're saying the Supreme Court, the long-term balance of power.

00:28:25.220 I love it.

00:28:26.120 You're right.

00:28:26.560 I'm with that.

00:28:27.500 As much as, to me, I was for the tariffs going because I wanted to see where that negotiation was going to lead to.

00:28:33.520 And the moment Besson started saying even if Supreme Court ruling goes against that, we have other plans.

00:28:38.040 But, okay, Supreme Court.

00:28:39.860 Okay, Congress.

00:28:41.200 Protect us from the next person being able to open up the borders and getting 10 or 15 million people. 1.00

00:28:45.300 And when the Republicans come in, what are they going to campaign on?

00:28:47.940 When Trump campaigned on, we're going to get rid of the illegal immigrants. 1.00

00:28:51.200 You know what I said to myself? 0.99

00:28:52.220 I said to myself, how are you going to do without being seen as a cruel, horrible human being?

00:28:58.980 What a great marketing story. 0.90

00:29:00.880 I don't care what you do.

00:29:02.580 You're going to go politely say to people, hey, Kenneth, you came here illegally with your family of six.

00:29:07.880 You came from Michoacan, Jalisco.

00:29:09.740 We need you to go back home.

00:29:11.320 Okay, America, I'm going to go back home illegally because you said so. 0.98

00:29:15.320 No, that's not how it's going to.

00:29:16.780 So where's the accountability?

00:29:18.460 Nothing.

00:29:18.780 Well, I don't know if this is going through their heads when they're looking at it.

00:29:22.720 I really don't.

00:29:24.040 But certainly until recently, the view was if you got in, you were eventually going to be made a citizen.

00:29:31.180 The U.S. would always have an amnesty every once in a while and you got to be a citizen.

00:29:35.680 And everybody thought that.

00:29:37.220 Dream out.

00:29:37.840 Yeah, now, you know, you think, well, okay, maybe the Mamdani candidate gets in in four years. 0.90

00:29:45.940 They open up the border.

00:29:47.620 You know, you got to think a little bit more because they might not be there in four years and you have to worry.

00:29:53.180 I'm not trying to approve of it or not approve of it.

00:29:57.120 But, you know, that does lay down a marker, I suppose, in being so tough.

00:30:02.900 Yeah.

00:30:03.840 If we come up with the voter ID, then they can't use the open up the floodgates of. 0.56

00:30:09.360 So if when they're like, well, no, voter ID is racist because you're asking African-Americans who, you know, can't go out there and do that.

00:30:19.680 They can't find their passports.

00:30:20.820 And, you know, all these people that have all this job they're working to, they don't have time to go to the DMV and get a new voter ID.

00:30:27.560 What are you talking about?

00:30:28.700 No, you don't want the voter ID because we get it.

00:30:30.380 How many states do you not need a picture ID to go vote with?

00:30:33.280 We know the games as well.

00:30:35.780 I believe if they do the voter ID, the opening up the borders won't work anymore because that playbook doesn't work.

00:30:42.260 This is the scariest thing for the Democratic Party if voter ID passes.

00:30:46.200 What is the strategy of letting the floodgates open up?

00:30:49.640 It's a very, anyways, we can get past this and go to the economy.

00:30:53.240 I just kind of wanted to get your thoughts on this.

00:30:55.240 Different types of sales leaders I've worked with the last 20 years.

00:30:57.900 One of them are those that are a boss, that are telling you what to do.

00:31:00.760 One of them is one that wants to be a friend.

00:31:02.300 He wants to say, hey, Johnny, let me help you get to this next level.

00:31:04.860 And then the other one is the leader, the leader that's sitting down with you, accountable, challenge, pushing you.

00:31:09.120 You can do more expectation, business planning.

00:31:11.440 Each one of them has pros and blind spots.

00:31:14.780 One year I host an event called the Sales Leadership Summit.

00:31:17.720 This year we're doing it at the beautiful Trump throughout March 25th through the 27th where we talk about topics like this, 200 plus pages in a manual where people from around the world, you have to do a minimum of a million dollars a year and five salespeople to qualify to attend this.

00:31:32.060 So if you're someone that's watching and saying, I think I'm like a boss, I think I'm like a friend, I think I'm a leader, I want to find my blind spots, click on a link below, fill out the information.

00:31:39.820 One of our consultants will get a hold of you.

00:31:41.680 Click on a link.

00:31:43.180 I do believe the executive tickets have sold out, but there's two other tier tickets for those I want to find out about it.

00:31:47.860 If you enjoyed this video, you want to watch more videos like this, click here.

00:31:50.780 And if you want to watch the entire podcast, click here.

“Sued For $175 Billion” - FedEx & Others Sue Trump’s Tariff After Supreme Court Blow

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