The Daily Show: Ears Edition
Trump Pauses Tariffs, Crashes the Stock Market & Threatens China | Antoni Porowski
Fri, 07 Mar 2025
Michael Kosta on Trump doubling down then ditching Canada and Mexico tariffs, the GOP pretending the plunging stock market is normal, and the president pissing off China. Plus, Josh Johnson takes inspiration from Trump flip-flopping on tariffs. Desi Lydic heads to Michigan to get to the bottom of the state's "buy back" initiative that turned out to be refurbishing guns instead of destroying them. Bestselling author and culinary expert Antoni Porowski talks to Michael Kosta about hosting his new National Geographic show, “No Taste Like Home,” which uses a dish significant to each guest as an entry point to a journey through their family and ancestral history. They discuss the extensive research process that goes into the show, some of the most emotional moments of the season, and why food is so important to Porowski and how he connects with his own family.See omnystudio.com/listener for privacy information.
Chapter 1: What is the focus of this episode of The Daily Show?
Welcome to The Daily Show.
I'm Michael Kosta. We've got so much to talk about tonight. The U.S. economy is down bad. Apparently America likes guns and Trump broke a campaign promise. So let's get into it. I'm going to come. Being president comes with a lot of pretty cool powers. You can write executive orders. You get one free checked bag on Air Force One. And you even get an uncensored feed of C-SPAN, which...
But for Donald Trump, the power he enjoys the most is the power to impose tariffs.
Tariffs are easy, they're fast, they're efficient, and they bring fairness. We're going to bring so many things back to our country, and the thing that's going to get us there is tariffs. We'll take in hundreds of billions of dollars in tariffs, and we're going to make our country so strong and so rich, it will never be so rich. Tariffs, it's a beautiful word, isn't it?
Tariff. It's a beautiful word. It's why I named my daughter Tariphony. This guy's so horny for tariffs, isn't he? I love any word with big, natural double Fs. According to Donald Trump, tariffs are great. And I also want our country to be rich without any negative consequences. So let's see how he's imposed tariffs on Canada and Mexico. And let's sit back and let's watch that economy roar, baby.
Tonight, the stock market dropping more than 600 points.
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Chapter 2: How are Trump's tariffs affecting the stock market?
U.S. stock markets plunged for the second day in a row. We've seen consumer confidence tank. Layoff numbers across the U.S. are the highest they've been since 2020. The R-word is back, thanks in large part to tariffs. Wait, the R-word is back?
Tariffs brought back the R-word? So I guess I can say it.
Wall Street banks are starting to raise a red flag that recession odds have become unsettlingly high.
Right, right, that R word. Of course, that's what I was thinking. I can be such a recession sometimes. By the way... Is recession an R-word now? Who thinks the word recession is offensive? Finance bros? Did they get woke?
Before we discuss the impending R-word, we begin by acknowledging that we are on the ancestral grounds of Capital Grill, where Chad was unjustly removed by the bartender before he could get a chance to cheat on his wife. Sup, Chad? So basically... Trump said the tariffs are gonna be a quick and painless way to get rich.
And now that it turns out we're not all shitting gold, Republicans have moved into their new talking point. Hey, nobody said this was gonna be easy. Trust the process.
There'll be a little disturbance. But we're okay with that?
There's going to be a little bit of pain going into this.
It is going to be painful.
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Chapter 3: Why did Trump pause tariffs on Canada and Mexico?
Josh.
What... What exactly... What exactly is going on with these tariffs? Costa, this is nothing we haven't seen before. These economic decisions are smart, so everyone should stop throwing around the R-word.
Oh, recession.
Okay, everybody should stop throwing around both R words. In fact, these tariffs are gonna help out all my N words. Your, your... My net gains, Costa. Right, right, of course. Of course, your net gains. Hey, hey, you're not an economist. That's not your word to say, okay? Point is, these tariffs are necessary.
I've been talking to President Trump, and I can speak exactly to his intentions on tariffs. I mean, come on. Y'all heard Donald Trump. He said during the campaign, we're doing this. It's an economic street fight, so you better get on board because the pain is worth it to bring back manufacturing even if it leads to higher prices. We are not backing down.
Okay, but the American people don't like higher prices.
Then forget the whole thing. Tariffs off. All right? I don't even know who suggested it.
Trump did. He said they're necessary to bring back America's economy. And they are, which is why they're back on. So we are doing tariffs? Damn right we are. I ain't scared of shit. Not even more expensive housing? Tariffs are off. But that will increase the trade deficit. On again. What about the price of breakfast?
Off in the morning, on at night. But Canada is retaliating. Off with Canada, on with China. We'll go to war with China. I don't give a f***. Josh, China has nukes. No tariffs on China. In fact, we're part of China now. All hail President Xi. Year of the snake, mother . Get on board.
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Chapter 4: What are the consequences of a trade war with China?
Get off his ass, Costa. All Trump's trying to do is stand firm on his principles, even though he doesn't know what they are yet. no matter the cost, although cost really shouldn't be a single dollar, and what anybody thinks, but please, nobody get upset.
Josh, Josh, be realistic. Part of being a leader is knowing there are trade-offs to every decision. It's not possible for everyone to have a net gain. Well, I thought...
I told you, Costa, that's our word, okay? Me and my economists are going to f*** you up. I'm sorry. I'm sorry. Josh Johnson, everybody.
Josh Johnson, when we come back, we get guns off the streets. Don't go away.
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Welcome back to The Daily Show.
There are millions of guns in America, but one 40-year-old virgin is trying to change that. Desi Lydic has more.
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Chapter 5: How does Michigan's gun buyback program work?
You know it's bad when a priest is sick of thoughts and prayers. I mean, that's your bread and butter. And just as Jesus turned water into wine, Father Yah turned prayers into action and started a gun buyback program.
The gun buyback program is aimed at reducing gun violence. They're popular, and that's because it's your choice to turn in your gun.
And because this is America, people are more willing to part with their guns if they get something out of it.
The first buyback we did, we had $5,000 worth of gift cards, and the line was two miles long, and we gave away the gift cards in 20 minutes.
What kind of gift cards are we talking about here?
Usually Target.
Target?
Target.
I'm not allowed in Target anymore. I had a bit of a run-in with the law involving an incident with a cheese grater.
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Chapter 6: Are gun buyback programs effective in reducing gun violence?
Ah, the pulverizer. That was my signature move when I was on the amateur wrestling circuit.
No, no, it's it. These things destroy weapons.
A deadly machine that destroys deadly guns? Problem solved.
This machine called the pulverizer can turn this into this.
Most of the metal left behind can be recycled. I love a name that says exactly what it is. Busting guns. No deception there.
But they weren't busting them.
Come again?
We found out they're not really destroying them. They were salvaging most of the gun and reselling the parts on the Internet. People can make their own ghost guns.
So Gun Busters is actually contributing to making more guns.
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