1 00:00:00,520 --> 00:00:05,840 Speaker 1: I will be your shoes in the fiercest battle lot 2 00:00:06,040 --> 00:00:11,800 Speaker 1: of things, you from those these arrows. In the third, 3 00:00:12,200 --> 00:00:19,040 Speaker 1: I will keep you from dangel sev she. 4 00:00:23,560 --> 00:00:25,960 Speaker 2: First White is speaking truth to power. 5 00:00:27,400 --> 00:00:29,600 Speaker 3: I mean we will not get bring right. 6 00:00:33,920 --> 00:00:40,680 Speaker 4: You gona talk about the thread things. Okay, let me 7 00:00:41,440 --> 00:00:43,680 Speaker 4: let me what's wrong in this country is our sense 8 00:00:43,720 --> 00:00:45,440 Speaker 4: of American citizenship is lost. 9 00:00:45,840 --> 00:00:53,479 Speaker 5: It's lost inconvenience. Convenience will be the death of freedom. 10 00:00:53,720 --> 00:00:56,200 Speaker 5: This is my show, and on my show, I can 11 00:00:56,200 --> 00:00:57,240 Speaker 5: show the conversation. 12 00:01:05,160 --> 00:01:09,559 Speaker 6: Good morning, and welcome back to the Royce White Show. 13 00:01:09,640 --> 00:01:13,520 Speaker 6: Here on Real America's Voice. David Penn privileged to be 14 00:01:13,840 --> 00:01:17,679 Speaker 6: your guest host yet again on this May third, a 15 00:01:17,680 --> 00:01:24,039 Speaker 6: beautiful Saturday morning. In what a potent and special Saturday 16 00:01:24,080 --> 00:01:28,319 Speaker 6: morning it is today. Well, first, it's my mother's birthday 17 00:01:28,360 --> 00:01:33,720 Speaker 6: May third, Happy birthday, Mom. But in addition, this is 18 00:01:33,760 --> 00:01:40,480 Speaker 6: the day that President Trump's Automobile and Automobile Parts Executive 19 00:01:40,640 --> 00:01:45,120 Speaker 6: Order comes into play. Yes, this day, at twelve oh 20 00:01:45,319 --> 00:01:53,640 Speaker 6: one am, imports of automobile parts are being taxed tariffed 21 00:01:54,160 --> 00:01:59,240 Speaker 6: at a rate of twenty five percent. And boy, when 22 00:01:59,280 --> 00:02:02,919 Speaker 6: I want what's going on? When I look at acts, 23 00:02:02,920 --> 00:02:07,320 Speaker 6: when I listen to the pundits, it's lions and tigers 24 00:02:07,320 --> 00:02:13,240 Speaker 6: and bears. Oh my, the fear mongering is intense. Well, 25 00:02:13,280 --> 00:02:16,639 Speaker 6: let me just share some real with you because here 26 00:02:16,680 --> 00:02:19,120 Speaker 6: at Free People Radio, I'm coming to you from the 27 00:02:19,160 --> 00:02:22,679 Speaker 6: studios of Free People Radio here in Minneapolis, Minnesota, the 28 00:02:22,720 --> 00:02:26,400 Speaker 6: belly of the Beast, as Royce likes to say, we 29 00:02:26,560 --> 00:02:30,840 Speaker 6: have a tire business, tire get dot com. We actually 30 00:02:31,280 --> 00:02:34,600 Speaker 6: sell tires as a customer benefit. And I've been in 31 00:02:34,639 --> 00:02:40,520 Speaker 6: the tire business since nineteen seventy nine. Wow, that's a 32 00:02:40,560 --> 00:02:43,840 Speaker 6: minute or two. When I started in this tire industry, 33 00:02:44,840 --> 00:02:49,000 Speaker 6: every single tire that we used here in the United 34 00:02:49,040 --> 00:02:53,880 Speaker 6: States was produced here in the United and over the 35 00:02:53,919 --> 00:02:59,080 Speaker 6: course of my career, because of government policy bad policy 36 00:03:00,560 --> 00:03:06,840 Speaker 6: see United Nations policy, percent of the tires that you 37 00:03:07,040 --> 00:03:12,040 Speaker 6: use on your vehicles are now imported from country after 38 00:03:13,200 --> 00:03:22,640 Speaker 6: first Mexico and Canada, China, Cambodia, Vietnam, Thailand, Indonesia be 39 00:03:22,720 --> 00:03:29,120 Speaker 6: a pack or nationalized industry. And President Trump has said 40 00:03:29,680 --> 00:03:33,560 Speaker 6: that effective today, if it's an auto part, it's coming in. 41 00:03:33,560 --> 00:03:36,600 Speaker 6: And boy, they're saying, oh, the American people can't afford it, 42 00:03:37,080 --> 00:03:39,560 Speaker 6: You can't afford it. I can't afford it. Do you 43 00:03:39,640 --> 00:03:42,800 Speaker 6: have concerns about it? Well, let me put your concerns 44 00:03:43,280 --> 00:03:49,160 Speaker 6: at ease. There's truth that you can see from all 45 00:03:49,200 --> 00:03:52,560 Speaker 6: four street corners. If you're watching a car accident, what 46 00:03:52,720 --> 00:03:56,800 Speaker 6: street corner you're on is going to determine how you 47 00:03:56,840 --> 00:03:59,920 Speaker 6: see that accident. Or if you're judging a boxing match, 48 00:04:00,320 --> 00:04:03,720 Speaker 6: something I've done a lot of, they have judges because 49 00:04:03,720 --> 00:04:08,240 Speaker 6: they all see something different. And President Trump has said 50 00:04:10,120 --> 00:04:12,680 Speaker 6: those other countries are going to pay for this tax, 51 00:04:13,760 --> 00:04:15,600 Speaker 6: that we're not going to pay for it here, They're 52 00:04:15,600 --> 00:04:19,480 Speaker 6: going to pay for it, that prices go up and down, 53 00:04:19,800 --> 00:04:24,560 Speaker 6: and prices are not inflation, and boy, he gets pilloried. 54 00:04:24,640 --> 00:04:28,359 Speaker 6: I look at all the exposts, so oh my gosh, 55 00:04:28,400 --> 00:04:32,119 Speaker 6: and you're looking at it too. And we're worried about 56 00:04:32,720 --> 00:04:36,640 Speaker 6: paying for our daily needs. We have to toil for 57 00:04:36,720 --> 00:04:40,040 Speaker 6: our daily bread. We want to write price. I get it. 58 00:04:40,960 --> 00:04:43,520 Speaker 6: But here's what's really going on. Here's the real deal. 59 00:04:44,800 --> 00:04:47,919 Speaker 6: These tariffs in the tire business. I can speak about 60 00:04:47,920 --> 00:04:50,760 Speaker 6: the tire business because I know about it. I'm a 61 00:04:50,800 --> 00:04:57,360 Speaker 6: player in the game. They are being substantially offset by 62 00:04:57,360 --> 00:05:03,640 Speaker 6: the offshore suppliers, So that twenty five percent tax in 63 00:05:03,680 --> 00:05:07,320 Speaker 6: the tire business when the tires actually get in here 64 00:05:07,320 --> 00:05:11,040 Speaker 6: because of the supplier discounts, is somewhere between nine point 65 00:05:11,200 --> 00:05:15,479 Speaker 6: seven and twelve point five percent. Over half of the 66 00:05:15,520 --> 00:05:19,880 Speaker 6: tax is offset, just as President Trump promised, by the 67 00:05:19,920 --> 00:05:24,240 Speaker 6: suppliers in that offshore country. Then the tires come over here. 68 00:05:24,320 --> 00:05:28,880 Speaker 6: Guess what rate rates are dropping so that it's much 69 00:05:28,960 --> 00:05:32,560 Speaker 6: cheaper to get the product here. And then companies like 70 00:05:32,640 --> 00:05:37,080 Speaker 6: Tyre get absorbed even more of the tax, so that 71 00:05:37,160 --> 00:05:40,400 Speaker 6: the actual effect that you and I pay when we 72 00:05:40,480 --> 00:05:42,920 Speaker 6: go to the store. Yeah, there's a little bit of 73 00:05:42,960 --> 00:05:48,000 Speaker 6: an increase, but it's not twenty five percent. There are effects. 74 00:05:48,080 --> 00:05:50,560 Speaker 6: Mister producer, could you queue up and play clip number 75 00:05:50,600 --> 00:05:51,200 Speaker 6: one for us? 76 00:05:52,480 --> 00:05:54,840 Speaker 3: You're really expecting a third of the traffic to drop 77 00:05:54,880 --> 00:05:55,640 Speaker 3: off next week? 78 00:05:56,839 --> 00:05:59,200 Speaker 2: Good morning, Becky, And yes, that's right. According to our 79 00:05:59,240 --> 00:06:02,719 Speaker 2: own port optim my serve, which measures the loadings in Asia, 80 00:06:02,839 --> 00:06:05,000 Speaker 2: will be down just a little bit over thirty five 81 00:06:05,080 --> 00:06:07,880 Speaker 2: percent next week compared to last year. And it's a 82 00:06:07,920 --> 00:06:11,560 Speaker 2: precipitous drop in volume, with a number of major American 83 00:06:11,640 --> 00:06:15,560 Speaker 2: retailers stopping all shipments from China based on the tariffs. 84 00:06:16,040 --> 00:06:18,560 Speaker 3: Yeah, the China piece of that is the most interesting, 85 00:06:18,760 --> 00:06:22,600 Speaker 3: that's where the shipments are basically ground to a haul. 86 00:06:22,720 --> 00:06:25,960 Speaker 2: You said, yes, that's correct, and that makes up about 87 00:06:26,000 --> 00:06:28,920 Speaker 2: forty five percent of our business here in Los Angeles. 88 00:06:29,000 --> 00:06:29,360 Speaker 5: Becky. 89 00:06:29,640 --> 00:06:33,200 Speaker 2: Now, what we have heard in talking directly to CEOs 90 00:06:33,360 --> 00:06:36,200 Speaker 2: and senior executives of the shipping lines is they'll try 91 00:06:36,240 --> 00:06:38,719 Speaker 2: to add a couple of port calls in along the 92 00:06:38,760 --> 00:06:43,240 Speaker 2: Southeast Asia routes where cargo is still moving, albeit at 93 00:06:43,240 --> 00:06:47,800 Speaker 2: a ten percent tariff. But realistically speaking, until some accord 94 00:06:47,920 --> 00:06:51,080 Speaker 2: or framework can be reached with China, the volume coming 95 00:06:51,080 --> 00:06:54,240 Speaker 2: out of there, save a couple of different commodities, will 96 00:06:54,279 --> 00:06:55,719 Speaker 2: be very light at best. 97 00:06:56,600 --> 00:06:58,440 Speaker 3: I was looking at the numbers and for the first 98 00:06:58,440 --> 00:07:01,040 Speaker 3: three months you are all handled about two and a 99 00:07:01,080 --> 00:07:04,960 Speaker 3: half million import containers. That's up fourteen percent year over year. 100 00:07:05,080 --> 00:07:08,919 Speaker 3: So how much of that was retailers and others trying 101 00:07:08,920 --> 00:07:11,440 Speaker 3: to really bring forward as much as they possibly could 102 00:07:11,720 --> 00:07:13,240 Speaker 3: ahead of these tariffs. 103 00:07:14,640 --> 00:07:18,880 Speaker 2: A great majority of that volume was advancing inventory, and 104 00:07:18,920 --> 00:07:22,560 Speaker 2: that started last summertime, even during the campaign trail when 105 00:07:22,600 --> 00:07:28,080 Speaker 2: folks started talking about tearffs and trade policies. Some larger 106 00:07:28,160 --> 00:07:32,600 Speaker 2: retailers across a variety of sectors and manufacturing folks who 107 00:07:32,640 --> 00:07:36,200 Speaker 2: were bringing in parts and components started to advance that inventory. 108 00:07:36,280 --> 00:07:38,640 Speaker 2: So we had about nine months of a run up here, 109 00:07:38,920 --> 00:07:43,120 Speaker 2: and then this last burst in March really took us 110 00:07:43,120 --> 00:07:46,480 Speaker 2: to the end of what we call that inventory look 111 00:07:46,960 --> 00:07:51,440 Speaker 2: and now precipitous drop overall, and realistically, what we're going 112 00:07:51,440 --> 00:07:54,160 Speaker 2: to see next is that retailers have about five to 113 00:07:54,240 --> 00:07:58,040 Speaker 2: seven weeks of full inventories left and then the choices 114 00:07:58,080 --> 00:07:58,640 Speaker 2: will lessen. 115 00:08:00,720 --> 00:08:05,600 Speaker 6: So there are effects. We are a country that has 116 00:08:05,680 --> 00:08:13,120 Speaker 6: become addicted to both materialism and foreign trade. We are takers. 117 00:08:13,320 --> 00:08:16,320 Speaker 6: How do I say takers? But we have a thirty 118 00:08:16,360 --> 00:08:21,160 Speaker 6: seven trillion dollar national debt and a one trillion dollar 119 00:08:21,640 --> 00:08:25,640 Speaker 6: trade deficit. That's like going to the doctor and say 120 00:08:25,840 --> 00:08:27,480 Speaker 6: what's the reading. It's like blood work, and what does 121 00:08:27,520 --> 00:08:32,440 Speaker 6: it tell me? We consume more than we produce. Let 122 00:08:32,520 --> 00:08:36,120 Speaker 6: me say that again, we take more than we give. 123 00:08:37,360 --> 00:08:41,040 Speaker 6: That's not a positive for the American people. And President 124 00:08:41,080 --> 00:08:45,800 Speaker 6: Trump is trying to change that. President Trump is asking 125 00:08:45,920 --> 00:08:50,960 Speaker 6: we the people to produce more than we consume so 126 00:08:51,000 --> 00:08:54,480 Speaker 6: that our country is prosperous again, so that our people 127 00:08:54,520 --> 00:08:59,640 Speaker 6: are rich again. There's only one real way to get rich, 128 00:09:00,040 --> 00:09:03,640 Speaker 6: and that's to create it, to work for it, to 129 00:09:03,679 --> 00:09:09,520 Speaker 6: produce it. When you financialize an economy, as President Nixon 130 00:09:09,559 --> 00:09:13,199 Speaker 6: did in nineteen seventy two under the tutelage of Henry 131 00:09:13,440 --> 00:09:17,640 Speaker 6: Kissinger and removed a US dollar from the gold standard, 132 00:09:18,120 --> 00:09:22,720 Speaker 6: ending the Breton Wood Agreement, we have a fiat currency 133 00:09:22,760 --> 00:09:24,920 Speaker 6: and every year we just print it and print it 134 00:09:24,960 --> 00:09:28,439 Speaker 6: and print it and print it and print it. That's 135 00:09:28,520 --> 00:09:34,640 Speaker 6: not wealth. That's an illusion. That is an illusion aimed 136 00:09:34,679 --> 00:09:38,760 Speaker 6: at keeping the guns blazon and the butter on the table. 137 00:09:39,160 --> 00:09:42,160 Speaker 6: But sooner or later that comes to an end. That 138 00:09:42,200 --> 00:09:47,079 Speaker 6: comes to a very ugly end. And President Trump knows this. 139 00:09:47,679 --> 00:09:52,400 Speaker 6: So he's trying with all his might, fighting the rhinos 140 00:09:52,480 --> 00:09:56,360 Speaker 6: in his own party, fighting all the Democrats who have 141 00:09:56,440 --> 00:09:59,920 Speaker 6: now united against him all of a sudden, Bernie sand 142 00:10:00,520 --> 00:10:03,800 Speaker 6: He's the end thing because they have those leftists have 143 00:10:03,960 --> 00:10:09,360 Speaker 6: a Donald Trump to unify to oppose. He's fighting every day, 144 00:10:10,120 --> 00:10:17,360 Speaker 6: he's fighting in every way to rebuild America's economy based 145 00:10:17,400 --> 00:10:21,959 Speaker 6: on work, productivity, creativity. And there's going to be some disruption, 146 00:10:22,840 --> 00:10:26,640 Speaker 6: there's going to be a transition. And the question we 147 00:10:26,720 --> 00:10:30,760 Speaker 6: have to ask ourselves as American citizens, do we have 148 00:10:30,840 --> 00:10:38,160 Speaker 6: the endurance, do we have the strength, the strength of 149 00:10:38,320 --> 00:10:42,040 Speaker 6: will to go through this change and get off of 150 00:10:42,120 --> 00:10:47,559 Speaker 6: this unholy addiction to materialism and imports and one world economy, 151 00:10:48,160 --> 00:10:55,160 Speaker 6: one world government. Can we reassert American sovereignty, American independence, 152 00:10:55,440 --> 00:10:59,000 Speaker 6: American self sufficiency. It's going to be up to you 153 00:10:59,080 --> 00:11:02,960 Speaker 6: and me. It's up to you. Do you have the strength? 154 00:11:03,640 --> 00:11:08,640 Speaker 6: Do you have the will to go through this difficulty 155 00:11:09,160 --> 00:11:13,320 Speaker 6: which is necessary and we have to be prepared for it. 156 00:11:13,360 --> 00:11:15,800 Speaker 6: I mean, I'm here. You know, people come on, they 157 00:11:15,800 --> 00:11:18,480 Speaker 6: want to give you, you know, flowers and sunshine. It's 158 00:11:18,480 --> 00:11:22,080 Speaker 6: beautiful Saturday. Everything's great. No, it's great because we're going 159 00:11:22,120 --> 00:11:24,680 Speaker 6: to make it great. We're going to have to work 160 00:11:24,720 --> 00:11:28,160 Speaker 6: on it together as an American community. And if the 161 00:11:28,200 --> 00:11:32,320 Speaker 6: only thing that matters is the price, if that's all 162 00:11:32,400 --> 00:11:36,679 Speaker 6: that matters, well you're a Marxist. Because we are Americans. 163 00:11:37,200 --> 00:11:40,280 Speaker 6: This is the land of the Free and the home 164 00:11:40,360 --> 00:11:43,600 Speaker 6: of the brave. And how are we going to maintain that? Well, 165 00:11:43,920 --> 00:11:48,520 Speaker 6: we're going to have to regain our republic. And that's 166 00:11:48,720 --> 00:11:51,520 Speaker 6: what we're working on. That's what we're doing here on 167 00:11:51,559 --> 00:11:54,319 Speaker 6: the Rice White Show. That's what we do at Free 168 00:11:54,360 --> 00:11:58,160 Speaker 6: People Radio, and that's what we do. I really America's voice. 169 00:11:58,360 --> 00:11:59,679 Speaker 6: Police stay tuned for these