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Speaker 1: The Team forty seven podcast is sponsored by Good Ranchers

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Speaker 1: Making the American Farm Strong Again. Team forty seven with

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Speaker 1: Clay and Buck starts.

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Speaker 2: Now that it is Liberation Day, and that refers to

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Speaker 2: the tariffs. Now there's a whole bunch of tariffs. White

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Speaker 2: House has put out a lot of information about this.

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Speaker 2: There's a whole bunch of tariffs that are taking effect.

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Speaker 2: Here's what we know, President Trump. This is from the

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Speaker 2: White House. President Trump invoking his authority under the International

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Speaker 2: Emergency Economic Powers Act of nineteen seventy seven to address

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Speaker 2: the emergency posed by the large and persistent trade deficit

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Speaker 2: that is driven by the absence of reciprocity in our

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Speaker 2: trade relationships and other harmful policies like currency manipulation and

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Speaker 2: exorbitant value added taxes that tax perpetuated by other countries.

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Speaker 2: Under this i E authority, President Trumpell imposed a ten

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Speaker 2: percent tariff on all countries going into effect April fifth,

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Speaker 2: and then President trumpelm pose an additional reciprocal tariff on

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Speaker 2: countries with which the United States has the largest trade deficits.

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Speaker 2: All other countries will continue to be subject to the

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Speaker 2: original ten percent that will take effect April nine. And

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Speaker 2: now there's more specificity about this, and it goes into

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Speaker 2: US Mexico Canada agreement. How that plays into this. So

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Speaker 2: there are some some goods are not part of the

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Speaker 2: reciprocal tariff steal aluminum adel parts. Okay, So there's a

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Speaker 2: lot of stuff going on, and it's big. I'm not

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Speaker 2: going to sit here and ac like this is a

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Speaker 2: small potatoes. It's a big deal economically, and I think

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Speaker 2: that first off, the best way to do this is

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Speaker 2: to allow President Trump to make the case to you

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Speaker 2: based on what he said yesterday about why this is necessary.

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Speaker 2: I think it's unre realistic that there are people out there. Well,

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Speaker 2: first of all, there are people who all they want

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Speaker 2: to do is complain about Trump. Not just Democrats. There's

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Speaker 2: some Republicans too who seem like they only want to

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Speaker 2: complain about find something even no matter how minute. Remember

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Speaker 2: remember signal Gate a week ago. Oh my gosh, there

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Speaker 2: was a journalist. The strikes all happened, but a journalist

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Speaker 2: found out, but he didn't say anything. You know, come on,

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Speaker 2: here's what's going on right now. Trump is trying to

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Speaker 2: reorient a substantial component of our economy to create long

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Speaker 2: term benefit for the American people. Now here is President Trump? Yesterday,

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Speaker 2: I wanted you to hear this. This is this is

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Speaker 2: clips a little over a minute long. I wanted to

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Speaker 2: hear though, why are we doing this? Let's get into it.

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Speaker 2: Let's hear from the man himself. He is absolutely committed

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Speaker 2: to this. He believes in it to his core. He

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Speaker 2: has believed in it for a very long time. Why

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Speaker 2: are we doing this? Liberation Day remarks yesterday from Trump

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Speaker 2: play cut one.

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Speaker 3: In the coming days, there will be complaints from the

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Speaker 3: globalists and the outsources and special interests and the fake news.

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Speaker 3: Fake news will always complain, But never forget. Every prediction

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Speaker 3: our opponents made about trade for the last thirty years

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Speaker 3: has been proven totally wrong. They were wrong about NAFTA,

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Speaker 3: they were wrong about China. They were wrong about the

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Speaker 3: Transpecific Partnership, which would have been a disaster if I

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Speaker 3: didn't terminate it, If I didn't turn that terminate that

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Speaker 3: United Auto Workers, you would have had no jobs in

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Speaker 3: this country. You would have had no jobs. I was

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Speaker 3: all going to other countries. In my first term. They

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Speaker 3: said tariffs would crash the economy. Instead, we built the

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Speaker 3: greatest economy in the history of the world. And again

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Speaker 3: I have great respect for presidency of China, great respect

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Speaker 3: for China, but they were taking tremendous advantage of them

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Speaker 3: of us, and I commend them for that. I say, hey,

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Speaker 3: if you can get away with it, that's okay. But

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Speaker 3: you know, they understand exactly what's happening, and they probably

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Speaker 3: most of them are saying it's about time they did something.

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Speaker 3: But and they're gonna fight, and they're gonna fight for

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Speaker 3: everyone's going to fight. You know. It's like I say

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Speaker 3: to the leaders, look, you got to take care of

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Speaker 3: your country, but we have to start taking care of

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Speaker 3: our country now. We can't do what we've been doing

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Speaker 3: for the last fifty years.

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Speaker 2: Okay, now let's take this apart a little bit and

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Speaker 2: get into what he's saying. And notice I've been saying

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Speaker 2: it to you for a long time. But just in

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Speaker 2: advance of those remarks, what he I had made the

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Speaker 2: same case to you, which is that Trump has been

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Speaker 2: right when it comes to big issues of trade commerce,

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Speaker 2: big issues of commerce where the consensus such as that exists.

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Speaker 2: You know, you can always argue, what is the consensus

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Speaker 2: and why do we think there is even such a thing,

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Speaker 2: But such as it exists was wrong. It was wrong.

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Speaker 4: China here, here's you know.

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Speaker 2: Trump came into office in twenty sixteen, and on China, China,

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Speaker 2: he was taking positions that they said, oh, it's going

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Speaker 2: to lead to a trade war, but we could even

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Speaker 2: take it further back than that. It had been for

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Speaker 2: decades before Trump even thought about or was really considering

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Speaker 2: seriously running for president. I'm going back. You go back

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Speaker 2: to the eighties, go back in the nineties. It had

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Speaker 2: been the international elite consensus that if we just give

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Speaker 2: China what it wants when it comes to trade, it

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Speaker 2: will liberalize and democratize over time and everybody will win.

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Speaker 2: And they let it in the wto World Trade Organization.

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Speaker 2: That was completely wrong.

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Speaker 4: Right.

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Speaker 2: There are a lot of different experts and think tanks

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Speaker 2: and everything who for a long time, we're taking the

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Speaker 2: position that all you have to do is just open

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Speaker 2: up your markets to China, and as China buys our

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Speaker 2: Coca Cola and as China starts importing all of our

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Speaker 2: cheap stuff made in huge factories here, they're going to

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Speaker 2: be all about human rights and democracy and freedom. Just

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Speaker 2: give it time. Totally wrong. There's been no real evidence

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Speaker 2: of that whatsoever. In fact, the opposite, you could argue,

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Speaker 2: has occurred, and China has become more belligerent, more bellicost

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Speaker 2: more difficult to deal with, and as it has become wealthier.

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Speaker 4: So we made China rich.

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Speaker 2: Under the under the auspices of this is going to

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Speaker 2: help us, and it's going to help national security. And

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Speaker 2: oh that means that we're aware that trade and national

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Speaker 2: security are things that intersect, and that some things that

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Speaker 2: are in your national security interests are not necessarily completely

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Speaker 2: in your immediate trade interests, like being able to make

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Speaker 2: your own antibiotics, being able to produce enough of your

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Speaker 2: own microchips, you know, go down the line, a whole

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Speaker 2: range of things. But we'll get more into that. Trump though,

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Speaker 2: sees this and he it takes somebody like him who

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Speaker 2: is willing to put this kind of political capital on

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Speaker 2: the line to take this kind of a risk. And

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Speaker 2: I will be clear with you about this, it's a risk.

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Speaker 2: It's a risk economically financially for the country. But I

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Speaker 2: think a couple things about it. One, it makes sense

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Speaker 2: to me as he explains it, and as we see

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Speaker 2: what's happening.

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Speaker 4: There already have been countries.

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Speaker 2: Just yesterday israel A Prime Minister net Yahoo said, look,

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Speaker 2: we're getting rid of all you know what, He's right,

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Speaker 2: Let's get rid of all trade barriers with the United

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Speaker 2: States and let's just continue to build that special relationship.

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Speaker 4: Great, look at that.

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Speaker 2: There are other countries as well that have backed off

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Speaker 2: a tariff that they have or they're you know, this

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Speaker 2: is all part of a negotiation. So as we go

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Speaker 2: into some of the details here, and I'll play more

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Speaker 2: from Trump, but more from Steven Milli. Yeah, massive change

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Speaker 2: is going to feel unsettling for people for a little bit.

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Speaker 2: It's not going to just happen overnight and be perfect.

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Speaker 2: But if you want to fix things, you have to

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Speaker 2: be willing to take the actions to fix them and

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Speaker 2: be in a position to do so. And like I said,

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Speaker 2: Trump is willing.

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Speaker 4: To do this.

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Speaker 2: He could be on the golf course with Clay right now. Hang.

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Speaker 4: I mean he actually might be, but I don't think

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Speaker 4: he is like he is.

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Speaker 2: Claying is for some But I mean he could be

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Speaker 2: hanging on the golf course forever. He could just be.

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Speaker 2: He's got billions of dollars, he's got grandkids and family,

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Speaker 2: and you know, he could just sail off into the

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Speaker 2: sunset and enjoy himself at mar A Lago. But instead

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Speaker 2: he has taken it upon himself to try to do

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Speaker 2: something incredibly important for the future of the country because

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Speaker 2: he truly believes in it, and he has I have

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Speaker 2: to look at the record here. He has been right

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Speaker 2: on areas where the economic consensus has been against him.

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Speaker 4: That is a fact. And so on this one.

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Speaker 2: Again, there are a lot of people, and there are

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Speaker 2: some people that I respect a lot and like a

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Speaker 2: lot on the right who are very concerned about this,

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Speaker 2: and to them, I just say, I think Trump has

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Speaker 2: made a strong enough case and is in a strong

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Speaker 2: enough position politically where let the man cook, let him

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Speaker 2: do what he does. Let's see how he negotiates. Even

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Speaker 2: Bill Ackman, right, who's a kind of a recent convert

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Speaker 2: to the center, I would say he used to be

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Speaker 2: a Democrat Hillary supporter, et cetera. Bill Ackman is a

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Speaker 2: multi billionaire hedge fun guy, investor guy, and he's, along

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Speaker 2: with Elon and some of these other very wealthy, very

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Speaker 2: high IQ individuals, have realized Democrat parties insane. They're a

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Speaker 2: bunch of lunatic, gender identity obsessed communists. So he says,

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Speaker 2: if you're going to be common sense or he's seen.

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Speaker 2: If you're going to be common sense, you have to

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Speaker 2: be a Republican. There's no other major political party for

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Speaker 2: you to support right now. Maybe he calls himself an independent.

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Speaker 2: I don't know, but I thought this was very very

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Speaker 2: astute observation from Bill Lackman. He he put out on

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Speaker 2: X sometimes the best strategy in a negotiation is convincing

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Speaker 2: the other side that you are crazy. Now, I know

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Speaker 2: some of you might be like, hey, Trump's not crazy, Well, yeah,

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Speaker 2: he's not crazy. Obviously he's crazy like a fox in

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Speaker 2: this context, meaning he's a guy who needs the other

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Speaker 2: side to believe that he's willing to do things that

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Speaker 2: were impossible for American leadership to consider before that there

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Speaker 2: could be consequences, and that's that's so, that's that's a

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Speaker 2: part of this. I've said to you before I've explained.

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Speaker 2: You know, we were just talking about, uh, who is

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Speaker 2: the actor I'm blanking on his name, who just just

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Speaker 2: passed away?

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Speaker 4: Who is in heat? Val Kilmer? Thank you?

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Speaker 2: Val Kilmer. Valcover's best role. In my opinion. You can argue,

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Speaker 2: I know some of you're gonna say the doors, but

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Speaker 2: I think Val Kilmer's best role for me is Tombstone,

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Speaker 2: where he plays Doc Holliday. And there's a great scene

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Speaker 2: I've mentioned this year before in the context of foreign

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Speaker 2: policy with Trump, I think it applies here too. We're

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Speaker 2: wide are very competently, very well played by Kurt Russell.

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Speaker 2: They they kind of they throw the double barrel shotgun

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Speaker 2: when they're about to have the shootout in the OK Corral.

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Speaker 2: They didn't know it was going to be shootout, but

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Speaker 2: they were preparing. He throws the shotgun and he goes,

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Speaker 2: let's put Doc on the street Howitzer. They might have

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Speaker 2: less itchy trigger fingers as a result, something like that, right,

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Speaker 2: but let's put Doc Holliday on the street Howitzer. Being

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Speaker 2: you want the crazy guy with the Bazuka is basically

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Speaker 2: the idea.

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Speaker 4: In this analogy.

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Speaker 2: Trump is the crazy guy with the bazuka. On trade,

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Speaker 2: you want you want to play this game with him,

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Speaker 2: or you want to be reasonable.

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Speaker 4: You want to be.

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Speaker 2: Fair, you want to deal with the reciprocal tariffs, you know,

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Speaker 2: for a guy who has survived to assassination attempts, two impeachments,

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Speaker 2: you know, for Bologney criminal trials. Beat the Hillary machine,

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Speaker 2: beat the Biden, you know, Kamala machine. I think he's

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Speaker 2: earned the right to try this his way and at

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Speaker 2: least have those of us who have believed in them

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Speaker 2: all along look at this and say, let's see what

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Speaker 2: he can do. And just remember this catastrophism and selling panic.

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Speaker 2: It's just such a cheap way of getting attention for

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Speaker 2: so many people. Oh you know, the sky is falling stuff,

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Speaker 2: a cheap way of getting attention, cheap way of having

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Speaker 2: people think that you have something worthwhile to say.

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Speaker 4: Stock market's gone done. Look at the stock market.

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Speaker 2: It hasn't gone down in any meaningful way really since

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Speaker 2: two thousand and eight, other than the pandemic drop.

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Speaker 4: And the pandemic drop.

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Speaker 2: Was completely a self inflicted wound, and anybody like me

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Speaker 2: he was paying attention, was like, well, this is gonna

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Speaker 2: be great because people are going to realize this is

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Speaker 2: like a cold. Then we should just go back about

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Speaker 2: our lives. And there's no you know, the economy is

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Speaker 2: destroyed by the pandemic.

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Speaker 4: That was just lunatics who made it anyway, So.

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Speaker 2: Yeah, there may be something of a drop in the

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Speaker 2: stock market for a bit.

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Speaker 4: I believe it will be temporary. Look, if it's not temporary.

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Speaker 2: Then the American people can go and vote and they

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Speaker 2: can hold Trump and the Republicans accountable for this decision

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Speaker 2: the next time around. I think they're going to say

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Speaker 2: when it comes time for that, Wow, what leadership. Look

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Speaker 2: at how things are going better for us now. And

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Speaker 2: that's what leadership is. When you have what you believe,

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Speaker 2: truly based on all your wisdom and all of your

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Speaker 2: life experience and all of your expertise, this is the

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Speaker 2: right thing to do. It's in the best centrust of

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Speaker 2: the people I lead, and I'm going to do it

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Speaker 2: because of that. I'm not going to sit around and

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Speaker 2: you know, oh, which way is the wind blowing?

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Speaker 4: So this is what Liberation Day is about.

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Speaker 1: You're listening to Team forty seven with Clay and Buck.

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Speaker 1: I do think it's important to talk about how many

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Speaker 1: of the people now saying Trump's terriff ideas are unacceptable. Actually,

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Speaker 1: we're huge proponents of tariffs. Not too long ago, we

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Speaker 1: played Nancy Pelosi for you. Here's Bernie Sanders in two

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Speaker 1: thousand and eight saying free trade without tariffs will destroy

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Speaker 1: American manufacturing.

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Speaker 5: Cut for what they have said is that we need

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Speaker 5: to not worry about manufacturing in America because what we

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Speaker 5: should establish is a policy of unfitted free trade.

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Speaker 4: We don't need tariffs.

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Speaker 6: What we need is to allow corporate America the freedom,

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Speaker 6: the freedom to throw American work is out on the street.

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Speaker 6: People are making fifteen, twenty twenty five bucks an hour,

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Speaker 6: healthcare pensions. Throw them out on the street because somehow

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Speaker 6: mount of President, we are going to create wealth in

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Speaker 6: America and good paying jobs in America as we shut

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Speaker 6: down plans we moved to China corporations there, hey, workers

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Speaker 6: twenty thirty cents an hour, and we bring the product

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Speaker 6: back into this country.

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Speaker 1: It is kind of interesting here, Buck. This is when,

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Speaker 1: if you remember the twenty sixteen election, there was and

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Speaker 1: there probably are some of you out there that were

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Speaker 1: deciding between voting for Bernie Sanders or Donald Trump because

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Speaker 1: many people just wanted a disruptive force in the wake

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Speaker 1: of the Barack Obama era, and there were a lot

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Speaker 1: of people New Hampshire in particular. I remember this voter, Buck,

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Speaker 1: where people went to vote and they were deciding, I'm

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Speaker 1: crazy to some of you, but hey, do I want

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Speaker 1: to support Bernie Sanders or do I want to support

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Speaker 1: Donald Trump?

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Speaker 2: That voter was real, Oh, absolutely, and there was this

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Speaker 2: was an interesting remnant memory of that twenty sixteen election

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Speaker 2: cycle when there were Bernie people, and because I was

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Speaker 2: at CNN at the time, there were Bernie supporters who

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Speaker 2: would have to mutter out of the side of their mouth, well,

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Speaker 2: I kind of agree with Trump on some of this

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Speaker 2: trade stuff too, because they also took this pro if

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Speaker 2: you will, pro worker position. And I think that there's

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Speaker 2: my view on this, just to be clear, and we're

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Speaker 2: getting a lot of your calls in and we want

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Speaker 2: to take different opinions on this and hear from you.

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Speaker 2: My view on this is as follows. One the people,

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Speaker 2: or rather there are a number of things. One the

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Speaker 2: people who are saying this is absolutely terrible. Go back

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Speaker 2: and look at them on the most important policy issues

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Speaker 2: on economics and otherwise in the last decade or two.

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Speaker 2: They're wrong on everything. Okay, everything to tell you is

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Speaker 2: true is not true, or everything to tell you will

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Speaker 2: happen does not seem to happen. When there's an important

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Speaker 2: decision to be made. We all know that the US

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Speaker 2: is wealthy, we all know that our economy is very dynamic.

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Speaker 2: But when it comes time for a choice, I don't

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Speaker 2: think that a lot of the voices that are trying

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Speaker 2: to tear Trump down have a good record at all.

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Speaker 2: That's one part of it, right. Another part of it

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Speaker 2: is you look at the effects of the tariffs around

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Speaker 2: the of tariffs around the world, and who has been

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Speaker 2: doing them and why they have them if it was

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Speaker 2: so evidently a sel self evidently destructive, I'm sorry, but Canada,

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Speaker 2: the EU wouldn't have tariffs on our products if it

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Speaker 2: was such a dumb move. And if making people so

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Speaker 2: rich was what was what not having tariffs does, you'd wonder, Well,

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Speaker 2: I guess the EU just doesn't doesn't want to be

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Speaker 2: making money in these different sectors. So there's and and

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Speaker 2: so I think that's another part of it that there's

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Speaker 2: no real answer to. And then the other thing is

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Speaker 2: if you want change, you have to be willing to

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Speaker 2: change things. And I know that's a tautology, but you

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Speaker 2: have to actually do something different from what you've been experiencing.

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Speaker 2: The status quo is going to give you more status quo.

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Speaker 2: Trump came in and he said he was going to

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Speaker 2: change the border and he did, and as we've talked about,

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Speaker 2: lay huge success. He said he was going to look

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Speaker 2: at government waste for an abuse. DOZ is doing that.

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Speaker 2: Hopefully they'll get a recision package from Congress. If they do,

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Speaker 2: I think that'll be a considerable success. This is a

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Speaker 2: big this is a big move, This is a big call.

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Speaker 2: And Trump is rolling the dice on this one. I

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Speaker 2: think he's earned the right to play the hand as

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Speaker 2: he sees fit. And I think that's in the best

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Speaker 2: interests of the country right now. And you know what, Clay,

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Speaker 2: if he's wrong, Okay, then we'll double back. We'll bring

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Speaker 2: these things down. It's not We're not nuking Moscow over this,

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Speaker 2: you know what I'm saying. This is not like a

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Speaker 2: million people are incinerated overnight and you can't say whoopsie

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Speaker 2: after that. I mean, this is about an ongoing negotiation two.

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Speaker 1: Things, and then I want to play Barack Obama talking

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Speaker 1: about the necessity of reciprocal trade agreements with China when

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Speaker 1: it comes to tariffs. But gas prices are going to

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Speaker 1: be based on the price of oil. Gas prices are

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Speaker 1: going to be the lowest that they've been since the

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Speaker 1: COVID basic shutdown, So a lot of you are going

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Speaker 1: to be seeing gas prices lower than they have been.

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Speaker 1: Again in five years. Basically, second part of this, these

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Speaker 1: tariffs are not supposed to impact the price of goods

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Speaker 1: on a day to day basis in a substantial way

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Speaker 1: in grocery stores, meaning whatever you're buying to eat is

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Speaker 1: not likely to be impacted in a price. Those are

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Speaker 1: the two places that I think most Americans notice cost

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Speaker 1: and so I think that if that happens. Plus, Trump

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Speaker 1: has sent out a message saying a truth social message

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Speaker 1: saying that interest rates need to be cut again. If

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Speaker 1: if there is a fear that we are sliding towards recession,

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Speaker 1: Jerome Powell should be cutting interest rates. A cut in

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Speaker 1: interest rates, let me just point out, would free up

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Speaker 1: a lot of the housing market. I just the number

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Speaker 1: of people out there, buck who have two and a

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Speaker 1: half or three percent interest rates, don't want to leave

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Speaker 1: their home, and yet don't want to be paying seven

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Speaker 1: percent for their mortgage rate to go somewhere else has

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Speaker 1: completely discombobulated the entire housing park market. The run up

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Speaker 1: that Joe Biden caused in interest rates going from two

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Speaker 1: and a half to seven percent as rapidly as it

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Speaker 1: did from mortgages for instance, has to rectify itself in

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Speaker 1: order for the economic house to get in order. Those

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Speaker 1: are three things that I see moving in a positive direction,

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Speaker 1: even though the stock market in the short term as

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Speaker 1: it is. Clearly I start off the show telling you

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Speaker 1: exactly what's happening is down here is Barack Obama demanding

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Speaker 1: reciprocity and trade agreements with China. This has cut six

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Speaker 1: Barack Obama twenty eighteen.

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Speaker 7: When it comes to the international system of commerce and trade,

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Speaker 7: it's legitimate for poorer countries to continue to seek access

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Speaker 7: to wealthier markets. And by the way, wealthier markets, that's

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Speaker 7: not the big problem that you're having. A small African

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Speaker 7: country is sending you tea and flowers. That's not your

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Speaker 7: biggest economic challenge. It's also proper for advanced economies like

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Speaker 7: the United States to insist on reciprocity from nations like

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Speaker 7: China that are no longer solely poor countries to make

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Speaker 7: sure that they're providing access to their markets.

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Speaker 1: So again, China has eaten our lunch phrase that Trump

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Speaker 1: has used quite a lot. China is saying they're going

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Speaker 1: to reciprocate with tariff increases on United States goods. But

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Speaker 1: I think the economic hand the United States has much

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Speaker 1: stronger right now than the economic hand that China has,

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Speaker 1: and I would suspect this is a prediction. I would

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Speaker 1: suspect that the phone lines are buzzing at the White

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Speaker 1: House and that there are a lot of countries that

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Speaker 1: want to unilaterally end their tariffs with the United States.

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Speaker 2: Some already have some Israel, for example, which is not

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Speaker 2: a huge trading partner, but it's an important ally and

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Speaker 2: a trading partner. They've come out and said Prime Minister

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Speaker 2: Nan Yao said, look, we're just I like where Trump's

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Speaker 2: head is out on this. Let's get rid of it,

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Speaker 2: and we're going to deepen our relationship even more with

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Speaker 2: America on trade. So there's also been a willingness, I think,

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Speaker 2: to renegotiate some of the Canadian tariffs already. This is

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Speaker 2: already happening. And the other part of this is it's

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Speaker 2: a dynamic. This is what I meant claim this can

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Speaker 2: be fixed right. This is not a you know, this

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Speaker 2: is not like the bombing of Pearl Harbor, where once

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Speaker 2: you start it you know it's going right. There's the

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Speaker 2: day to day of how is this looking in the market,

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Speaker 2: what does that other government do to respond? And here's

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Speaker 2: the thing. Whenever they are upset about this. Any country

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Speaker 2: that has a tariff against the United States on what

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Speaker 2: grounds can they be upset about the United States putting

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Speaker 2: a tariff on their items?

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Speaker 1: That's the entire crux of this, right, I mean, these

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Speaker 1: really were in the right. I mean Trump, I think,

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Speaker 1: in general, would prefer just an even playing field for

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Speaker 1: American goods compared to other goods, and so instead of

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Speaker 1: us getting lots of other countries, including China, to your point,

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Speaker 1: I mean, yes, look at the average income in China

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Speaker 1: since nineteen eighty. The most of that money, to a

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Speaker 1: large extent, that money is coming off of Chinese goods

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Speaker 1: being able to be bought by Americans in the trade

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Speaker 1: imbalance that is created.

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Speaker 4: And then there's we didn't even get into this yet.

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Speaker 4: We talked to I talked about it.

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Speaker 2: But yesterday Clay, when you were making Happy Gilmore look

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Speaker 2: like a guy who can't even can't hit you know

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Speaker 2: what I mean? Week swing Happy Gilmore compared to Clay.

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Speaker 2: But we talked about Steven Miller and how I played

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Speaker 2: some of his explanations of this. There's also a national

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Speaker 2: security component of this. How can anyone tell me it's

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Speaker 2: not just that we get a lot of our ani.

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Speaker 2: I mean when I say a lot, I think it's

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Speaker 2: like eighty or ninety percent of different kinds of antibiotics

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Speaker 2: and other whether it's precursors for computer chips or just

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Speaker 2: a huge range. I mean, I can't even begin to

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Speaker 2: run off the list of what we rely on China for.

436
00:23:46,720 --> 00:23:49,520
Speaker 2: Imagine if during the Cold War we said to people,

437
00:23:49,560 --> 00:23:52,440
Speaker 2: you know what, we need to rely on the Soviets

438
00:23:52,480 --> 00:23:57,359
Speaker 2: for antibiotics, We need to rely on the Soviets for

439
00:23:58,359 --> 00:24:00,840
Speaker 2: you know, simple manufactured good that are going to be

440
00:24:00,960 --> 00:24:06,000
Speaker 2: necessary for us in a long conflict. People haven't paid

441
00:24:06,080 --> 00:24:08,600
Speaker 2: enough attention to this in my mind, Claike, there have

442
00:24:08,680 --> 00:24:12,480
Speaker 2: been concerns from the US military, from the Pentagon all

443
00:24:12,520 --> 00:24:16,320
Speaker 2: along about how long we can even sustain the arm

444
00:24:16,440 --> 00:24:21,400
Speaker 2: shipments to Ukraine, stretching art Think about that. The Ukrainian

445
00:24:21,520 --> 00:24:27,000
Speaker 2: war is stretching our war supply chain capability.

446
00:24:27,240 --> 00:24:27,359
Speaker 4: Now.

447
00:24:27,359 --> 00:24:29,439
Speaker 2: I understand it's far away, but the point is we

448
00:24:29,520 --> 00:24:33,040
Speaker 2: can't make enough artillery rounds fast enough right now. So

449
00:24:33,600 --> 00:24:36,360
Speaker 2: domestic industry is more than just whether you can buy

450
00:24:36,440 --> 00:24:38,360
Speaker 2: cheap flat screen TVs. Is the point, and I think

451
00:24:38,359 --> 00:24:40,840
Speaker 2: Steven Miller's been hitting that point hard.

452
00:24:40,640 --> 00:24:42,639
Speaker 1: Not only that. I mean, I've raised the question, and

453
00:24:42,640 --> 00:24:44,720
Speaker 1: I think it's a really tough one that nobody has

454
00:24:44,760 --> 00:24:49,400
Speaker 1: an answer for. What happens if China actually invades Taiwan,

455
00:24:49,960 --> 00:24:53,280
Speaker 1: if we had a war start. Our reliance on China

456
00:24:53,359 --> 00:24:55,800
Speaker 1: to produce many of the goods that the United States

457
00:24:55,880 --> 00:24:59,399
Speaker 1: has to have is actually, I think maybe buck the

458
00:24:59,520 --> 00:25:03,720
Speaker 1: largest national security issue we have. Leaving a side, Look,

459
00:25:03,760 --> 00:25:06,240
Speaker 1: somebody could get a nuclear weapon and set it off

460
00:25:06,280 --> 00:25:09,480
Speaker 1: somewhere around the world, right, I'm talking about in a

461
00:25:09,600 --> 00:25:15,200
Speaker 1: state actor situation. The danger of China controlling so much

462
00:25:15,200 --> 00:25:18,440
Speaker 1: of the flow of American commerce is that if they

463
00:25:18,760 --> 00:25:21,720
Speaker 1: decided to engage in some nefarious action, we just have

464
00:25:21,800 --> 00:25:23,800
Speaker 1: to wear it. I think, because we don't have the

465
00:25:23,840 --> 00:25:27,600
Speaker 1: ability to produce our own products without China being involved.

466
00:25:27,720 --> 00:25:30,560
Speaker 2: No, I think we rely a lot on the Taiwanese

467
00:25:31,400 --> 00:25:35,280
Speaker 2: being able to extract such a high price from a

468
00:25:35,400 --> 00:25:38,560
Speaker 2: Chinese invasion of and well, but probably there's a lot

469
00:25:38,560 --> 00:25:40,040
Speaker 2: of different theories on this. There's a lot of war

470
00:25:40,080 --> 00:25:43,080
Speaker 2: gaming around this. What China would most likely do, in

471
00:25:43,480 --> 00:25:47,119
Speaker 2: my view, is they would try to just launch missile

472
00:25:47,359 --> 00:25:50,960
Speaker 2: and air strikes, missile strikes and pummel the island into

473
00:25:50,960 --> 00:25:53,840
Speaker 2: submission as much as possible, and then maybe they would

474
00:25:53,920 --> 00:25:59,400
Speaker 2: try some kind of an amphibious landing operation, which you know,

475
00:25:59,440 --> 00:26:02,200
Speaker 2: Taiwan is not big compared to China, but it's obviously

476
00:26:02,320 --> 00:26:07,000
Speaker 2: very sophisticated technologically, and it's it's a rough country to invade.

477
00:26:07,040 --> 00:26:08,840
Speaker 2: The back eastern half of it. There's a lot it's

478
00:26:08,880 --> 00:26:11,240
Speaker 2: very rugged, there's a lot of mountains. I'm just saying

479
00:26:11,680 --> 00:26:15,120
Speaker 2: that we're really relying a lot on the Taiwanese, making

480
00:26:15,160 --> 00:26:18,480
Speaker 2: it ugly for China, much more so than I think

481
00:26:18,640 --> 00:26:20,080
Speaker 2: we would just be able to ride in like the

482
00:26:20,119 --> 00:26:22,400
Speaker 2: cavalry in a Western movie and save the day. Would

483
00:26:22,480 --> 00:26:25,120
Speaker 2: not be it would not be easy or fun for anyone,

484
00:26:25,520 --> 00:26:26,560
Speaker 2: And that's putting it mildly