The markets continue to plummet as the Trump administration continues to try to pitch the new tariff war; Elon Musk takes on Peter Navarro in a face-off on trade philosophy; and Democrats pounce on Trump’s weekend golf tournament. Click here to join the member-exclusive portion of my show: https://bit.ly/3WDjgHE Ep.2174 - - - Facts Don’t Care About Your Feelings - - - DailyWire+: We’re leading the charge again and launching a full-scale push for justice. Go to https://PardonDerek.com right now and sign the petition. Now is the time to join the fight. Watch the hit movies, documentaries, and series reshaping our culture. Go to https://dailywire.com/subscribe today. Get your Ben Shapiro merch here: https://bit.ly/3TAu2cw - - - Today's Sponsors: Perplexity is an AI-powered answer engine that searches the internet to deliver fast, unbiased, high-quality answers, with sources and in-line citations. Ask Perplexity anything here: https://pplx.ai/benshapiro PureTalk - Switch to PureTalk and start saving today! Visit https://PureTalk.com/SHAPIRO ZipRecruiter - Try ZipIntro FOR FREE: https://ZipRecruiter.com/DAILYWIRE Good Ranchers - Visit https://goodranchers.com for free bacon, ground beef, seed oil-free chicken nuggets, or wild-caught salmon in every order for a year + $40 off with code BEN. Grand Canyon University - Find your purpose at Grand Canyon University. Visit https://gcu.edu today. - - - Socials: Follow on Twitter: https://bit.ly/3cXUn53 Follow on Instagram: https://bit.ly/3QtuibJ Follow on Facebook: https://bit.ly/3TTirqd Subscribe on YouTube: https://bit.ly/3RPyBiB Learn more about your ad choices. Visit megaphone.fm/adchoices
Full Episode
Well, folks, the news is breaking hot and heavy because it is always breaking hot and heavy in Trump 2.0. But to be part of our conversation, generally, you do have to be a Daily Wire Plus member. You get all sorts of magical privileges. First of all, Daily Wire Plus members get everything. All of our content, ad-free, including daily shows, hit movies, documentaries, and more.
Plus, exclusive investigative journalism that gives you the whole story, not just the part that fits a narrative. Become a member today at dailywire.com slash subscribe or download the Daily Wire Plus app in the App Store right now. Well... it was a bit of a fraught weekend. The stock futures dumped all over the place.
The market was set to open as of Monday morning down, pretty much across the board. Markets prepared for a bloodbath, according to the Wall Street Journal. In the United States, contracts tied to the tech-heavy Nasdaq 100 led the declines down more than 5%.
In Japan, the Nikkei 225 dropped nearly 8% shortly after open actually hit the circuit breakers, meaning they had to shut down trading for a little while. Bitcoin and oil prices fell sharply as well. And remember, Thursday and Friday were terrible days on the stock market. U.S.
stocks lost $6.6 trillion in value during that two-day washout after President Trump announced that giant tariff regime that he called Liberation Day. And it appears that many traders are betting that things are going to continue to be really, really chaotic in the world of tariffs.
The biggest problem here is that the Trump administration has not made it clear what exactly they want to accomplish with these tariffs. This has been my point the entire time. There are times when tariffs can be useful. In fact, out of three times, tariffs could theoretically be useful. Two times could actually be useful. Okay, so theory number one as to tariffs.
One, tariffs are important to protect important industries. Like for example, defense industries, because you need to produce that stuff here at home instead of producing it elsewhere. And so you actually protect and give effectively artificial subsidies to American defense industries. Totally understandable. Two, tariffs are designed in order to leverage other countries.
either because those countries are our enemies and we want to do harm to them, or because we wish to get other countries to lower their own tariffs. And the end goal is a lower tariff regime. And then there's the third possibility. And this is the possibility that is retailed by President Trump and many other members of the administration. And...
To be perfectly honest, all of these various rationales for the tariffs have been put forward. The third one is the one that's really problematic and the one that the economy is currently reading, that the markets are currently seeing. And that is the idea that tariffs are good. Trade wars are good and easy to win. Tariffs themselves are good and make us rich.
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