liz: the selloff is off the lows of the session. thank you so much. nasdaq down still about 370 points, and we are continuing to watch everything, all the crowds here from ces 2025. tomorrow a huge show. speaking of cars, lucid and sound hound have a new partnership. sound hound has been one of those -- i hesitate to call it a meme stock, but it has been on a roll. voice recognition, and they are taking the lead, and that's interesting considering google and amazon have been big in voice recognition. we've got the sound hound ceo tomorrow. we've got ed bastion of delta airlines. they have been big on tech. he's going to make a whole bunch of announcements tonight at the sphere. i had been there. i'll bring you the story tomorrow. all right, here comes the closing bell. we've got the russell, nasdaq, s&p and the dow in the red. we'll see you tomorrow. ♪ larry: hello, folks. welcome to requested with

kudlow," i'm larry kudlow. president trump today gave another 70-minute news conference, pulling to punches. greenland, panama canal, the gulf of america. it was a big, beautiful news conference. senators tommy tuberville and tim sheehy will join us on all that in just a moment p. plus, newt gingrich is going to be waiting in the wings. but first up, the gulf with of america sounds just perfect to me, and that's the subject of the are riff. ♪ larry: so let's start right there, gulf of america. of it was, of course, the gulf of mexico. but that was named in the 16th century before the united states of america even exist exist -- existed. so gulf of mexico sounds rather outdate to me. it's time for a change. so mr. trump basically said gulf of america has a big, beautiful ring to it. sounds a lot like his endorsement of winning big, beautiful budget bill to cut taxes and if seal the border.

speaking of sealing the border, doesn't sound at all like mexican president sheinbaum has yet done very much to to help the u.s. seal the southern border. for example, with 25,000 troops that that helped ensure president trump's first term success of remain in mexico. he threatened a 25% tariff on mexico if they don't cooperate, and he repeated that that today. well, whatever happened to the monroe doctrine? that was codify pd over 200 years ago that the will not permit european interference in latin america. when you toss in the panama canal if that mr. trump also a mentioned today, we should add add the cannot tolerate chinese interference in america's core interests. and then, as mr. trump also tossed in greenland, the same core interest principle applies with our adversaries russia and

china who are kind of nosing around not simply for some rare earth minerals, but building a stronghold for the air force or naval power. president trump also threatened canada with 25% tariff if they don't cooperate on our northern border. now, trump's trolling of justin trudeau about canada becoming the 51st state basically kneecapped the left-wing prime minister right out of the ballpark and into retirement. and finally, speaking of tariffs, a recent washington post article that president trump was pulling back on his universal tariff plans were, as mr. trump put it, fake news. now a hat tip to the brilliant economist and my if dear friend larry lindsay for pointing out that u.s. imports run about $5 trillion a year. so a 10% broad-based, ring around the collar tear the riff

would produce roughly $500 billion a year, and that would more than cover mr. trump's tax cuts and then some. now, tariffs are inflationary. all the excess money is inflationary. meanwhile, the european union has value-added taxes, which are essentially tariffs, and those tariffs run around 20%. and the world has lived with it for a very long time. all that suggests to me that just like his big, beautiful tax and border bill, mr. trump knows exactly what he's talking about, and he is a negotiator extraordinaire. and that's the riff are. the riff. all right, joining me, senators tommy tuberville of alabama and and mr. tim sheehy of montana. i want to say hello, happy new year to both of you. especially, senator sheehy, welcome to "kudlow," and welcome

to the u.s. senate. mr. tuberville, happy new year to you, sir. >> thank you. larry: okay. let me start -- we have -- i'm not sure i understand this, we have sound, trump on the one, big beautiful -- yeah, let's play that. trump today on the winning big, beautiful billful let's start with that subject. >> well, i favor one bill. i also want to get everything passed. and, you know, there are some people that don't necessarily agree with us. i'm open to that also. my preference is one big, as i say, one bigger beautiful bill. >> you appeared to open the door for a two-bill approach. still your preference for one big, beautiful bill, as you have said. >> i like one big, beautiful bill, and i always have, i always will. if two is more kern -- certain, it does go a little bit quicker. larry: all right. senator untub -- tuberville, what's going on here? i personally, as you probably know, am in favor of one big, beautiful bill.

that's what president trump's first choice is. that's what speaker johnson wants, that that's what may -- ways and means chair jason smith wants. i'm not sure i understand the resistance. can you help me out? >> i'm all with you, larry. i think we need one. but, again, we've got to go with the house first. they're the ones that's going to make the decision the on this. they've got to get it done before us. go back and look at history. ronald reagan the did this know now. they drug their feet. i think you might even been working for ronald reagan at that time, and they had two bills, and they didn't get both of hem done. same thing with president trump back in 2016. they worried about health care, paul ryan drug his feet, and they didn't get the tax bill to really save congress in the two-year election. i'm all for one, let's get it done. larry: senator tuberville, you are a person after my heart. you're such a clear-thinking senator, it's really remarkable. really. [laughter] so happy to hear you take that position, now, senate sheehy, if you disagree, it's okay. this is the "kudlow" show, we

believe in free speech, but i prefer you to talk about one big, beautiful bill. we don't want to let the middle class, blue collar boom, we don't want to let it that get away. we promised tax cuts during the campaign as you well know. i'm sure you ran out on it. you were a guest on this show a couple of times. what's your promise, you've got to keep those promises, and mr. trump understands that. and i, frankly, think it's not such a hard thing to do. you're basically just extending the tax cuts, and you're to going to put on some money for the border and so forth. what do you think, senator sheehy? >> i agree 100%. i agree with the coach. listen, we have a mandate. and from a popular to electoral vote from the senate to the house, we swept the table in this election, and people want results. we shouldn't be bogging ourselves down in process, we ought to get things done fast and, honestly, if it's 1 bill, 2 bills, 15 billions, let's get it done now. the momentum behind one big,

beautiful bill. larry: all right, terrific stuff, thank you. i want to turn to some more got exotic things in mr. trump's news conference. here's the president on, this is such a nice sound to to me, the new gulf of america. hang on, here it comes. >> we have a massive deficit with mexico, and we help mexico a lot are. they're essentially run by the cartels. and can't let that happen. mexico's really in trouble. we're going to be announcing a future date, pretty soon, we're going to be changing the name of the gulf of mexico to the gulf with of america. the gulf of america. which has a beautiful ring -- the gulf of america. what a beautiful name. larry: senator sheehy, i'll tell you, talk about big, beautiful sounds, big, beautiful ring, the gulf of america. but, i mean, this is something to this just like there always is with president trump. he is pushing president

sheinbaum, i think he's pushing her very hard. she hasn't really done anything for us on the southern border. the troops aren't there yet. he's threatening a tariff on that. after all, senator sheehy, when the gulf gulf of mexico was named in the 16th century, there was no united states of america. now there is a very important united states of america, and you might even say united states of america first. so what do you think about the gulf of america, senator sheehy? >> well, i think it's a great idea, and i was very happy to hear you mention the monroe doctrine in your own opening statement because that's something we've let slip away as america. for a long time our doctrine has said we are going to be the arbiter of what happens or does not happen in our region, and as we know in the past 20 years, china, russia and a lot of other people that do not have the best interests of america and our economy have started to talk over not just economic interests, but, in fact, military interests in our region. we have russian ships going to port in venezuela and cuba all the time to. so we need to make sure we

reinvigorate our presence throughout the hemisphere and world, and this is part of that movement i support it. larry: senator fun tuberville, as you may know, it was later on president john quincy adams who codified it into american policy. and it was about european interference. i would dare say with respect to the panama canal and with respect to the keys of -- to the rest of latin america, this is also about chinese interference. and the bidens never did a darn thing while china, as i said, they're nosing around throughout, they're building bases, they run the two panama canal if locks through the atlantic and the pacific. it's about time somebody said something about this, senator tuberville. >> exactly right. it's been a long time. i can remember my dad was very upset, he was a career military guy, and when jimmy carter gave up the panama canal, i've never seen him that mad. i spent a lot of time in the panama canal and in panama in

the last couple of years. they had a president down there that was very pro-china. now we've got a president down there, i went to his inauguration tobacco in july, me lean know, he is all for president trump. he understands what's going on. he's tried to help us. the previous president signed 28 connecticuts with the chinese -- contracts with the chinese. they didn't fulfill but 1 of those 28 in 5 years' time. so at the end of the day, or president trump's going to go in and help panama. we've got to take the panama canal back. we've got to do something because if we were to happen to go to war with china over taiwan and they were to shut the panama canal down, we'd have to go 8-10,000 miles longer if we had to go from the east coast to china. larry: wow, that's a great point, sir. that's a great point. let me just play some tape on these points from mr. trump today at his presser. take a listen, please, gentlemen. >> what took place at the panama

canal. jimmy carter gave it to them for $1, and they were supposed to treat us well. they charge more for our e ships than ships of other countries, they charge more to our navy than navies of other countries. china's basically taken it over. china's at both ends of the panama canal. we need greenland for national security purposes. you look outside, you have china ships all a over the place, you have russian ships all over the place. we're not letting that happen. the a going to probably vote for independence or to come into the united states. larry: all right. senator sheehy, by the way, god bless you as a former navy seal and a veteran, and you served in a number of theaters. what do you -- i think the greenland stuff, the greenland, you know, greenland is, i think, a key point for america american interests -- american interests. it's a chokehold, if you will. and here too china and russia

nosing around greenland, and i know that part of this is from strategic minerals and if so forth, rare earth. but they're also looking to set up naval operations, air force operations. they know what they're doing. china now is calling itself an arctic power, which is bloody nonsense, if you ask me. senator sheehy, the green lan story. how do you see it -- greenland -- >> this is another point of strategic interest for america. during world war ii and the korean war and all the way through the cold war we had strategic locations all over the pacific and atlantic to include greenland and iceland. and those locations were absolutely critical for our ability to control the atlantic during world war ii and and throughout the cold war. just like the panama canal, these are critical military strategic, points of pressure that literally control the world. the world moves through the oceans, the vast majority of to our trade. so it's not just military, it's also economic. and as we've seen in the past two years, china has taken unprecedented actions to expand their sphere of maritime

influence all over the world. and it's not just in the south china sea, as we know, in panama, and they're going to continue to push that globally. we should be doing everything we can to revive our global footprint in places like iceland are, greenland, we've foolishly given them up in the past couple of decades. larry: senator tuberville, you may know during world world war ii the united states occupied greenland in order to keep the axis powers out including the nazis. greenland wants independence from denmark. i mean, that game's going to be over one way or the the other. why can't we, the united states -- i don't know that we ought to take them over, but we could set up an alliance, you know, that would include national security, it would include trade, it would include investment and so forth. that would, it e seems to america make an awful lot of sense. >> it's all about national security. we've finally got a leader in the white house, larry, somebody that's got some negotiation

skills, some diplomacy. he's putting a team around him that's going to help, but there's no better place to start than greenland. if you just look at what china's done, i just returned last summer from argentina, they pretty much bought up everything around argentina, the arctic circle. we have got to get in the game. we have not been in the game for four years. president trump's going to to get us back in the game. he's going to make some tough decisions. it sounds crazy, the things he's trying to do, but he's spot on because we are in trouble not just domestically, but internationally with everything going on with china and russia and, of course, iran. and north korea, it's going to be, the it's going to be a fight, and it's going to be a fight that we're going to have to back president trump on all this and give him an opportunity to make some headway in international diplomacy. larry: senator sheehy, as senator tuberville's suggesting, here we are, president trump is still president-elect trump although it has been certified, of course. but he is reestablishing, it

seems to me, reestablishing america's footprint on world affairs. he's not invading, he's not bombing, but he's reestablishing america's footprint. most marley -- particularly, the part i really like is how he's reestablishing our footprint in mexico and latin america can which -- and throughout south america. these are things that are absolutely vital. these are america first interests, and they have been neglected these past four years, senator sheehy. >> you're absolutely right. and it goes back further than four years. it goes back decades, you know? jimmy carter, obviously, we're about to see him laid in state here, but him giving back the panama canal in the '70s was a huge mistake. and that kicked off the doll knows of this movement -- dominoes we've seen of this movement where powers around the world have been given bakke interests that are core to their policies. and the america first agenda centers around what's breast for

the -- best for the american people. it's not too much for the american people to ask their government to do what's right for them, what's right for american business, the border and the people. that should always come first. and what we're seeing here before trump's even in office, he's enacting policies that are going to put the american people and their grocery and gas prices and their front door first. it's about time we put the interest of our voters ahead of those of the the rest of the world. larry: amen to all that. thank you, gentlemen, tommy the tuberville, tim see hi, we appreciate it very much. president trump says inflation continues to rage and interest rates are way too high. he said that today to. we'll show you the tape on that. anyway, we're going to talk about it with art laffer and e.j. antoni next up. and remember, you can catch "kudlow" monday through friday at 4 p.m. right here on fabulous fox business. for some reason you can't get us at four, well, please, just text your favorite 9-year-old, and she will show you thousand dvr

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>> we are inheriting a difficult situation from the outgoing administration, and and they're trying everything they can to make it more difficult can. inflation is continuing to to rage, and interest rates are far too high. january 20th we'll turn the economy around very quickly because right now we are -- when i think of to our economy, i think about inflation. that's what we have. we have inflation. i believe at a level that we never had it before. larry: all right. very interesting that he would say that and, i think, very realistic. joining us now to talk about it, e.j. antoni, economy ifist at the heritage foundation and unleash prosperity, and the great art laffer, former reagan economist. gentlemen, welcome. e.j., i think it was interesting, mr. trump's being very realistic going in about the continued biden-flation problem and the fact that, you know, long-term interest rates

are a lot higher than he, trump, or pretty much anybody else wants. he's being very realistic, e.j., what do you make of that? if. >> larry, i think that's absolutely right. he's being very realistic in his assessment of the situation. we had a treasury auction today that had the highest yields in well over a decade, and that's despite the fact that the fed has cut 100 basis points recently. clearly, we have some difficulties here in terms of credit markets. and we should point out that both the inflation that trump referenced as well as the high interest rates are due to the same thing which is the overspending that we've seen under the biden administration. they have racked up over $8 trillion in debt. but let's also remember that they've run down treasury's cash balance by about a trillion dollars as well, so their net overspending, if you will, is over $9.5 trillion. that's a quarter of the entire national debt. larry: i mean, arthur, i don't know, this spending that they're

doing, at lot of it, i mean, actually they're still the spending out covid money, which is insane. they're also still spending out the misnamed inflation reduction act money. i don't know how much of that goes directly into checking accounts, but if it does, that's the stuff that we saw a couple years ago, and that's the stuff that increases the money supply and caused inflation. so i would think -- and i want the hear your proposal -- they have to -- the the trump administration has got to do some very serious budget cutting, okay? the doge brothers and rudds el vote and -- russell and scott bessent, they're got to do some serious budgeting and tax cutting. >> yes, they do. and they should have done it long, long, long ago. that's to what the omb is set up to do, to give you the tools to go in and find out where the waste, abuse and fraud is. and i think with elon musk and vivek ramaswamy, they're going to be able to find lots of areas where be able to to cut which

would be absolutely wonderful, harry. as you know, i was -- larry. i was the first tenured economist at the omb, you were there ten years later. this is really doable. i think it will be done. i think we really want to make sure we don't confuse bringing down inflation is great, and that will bring down the inflationary premium on interest rates and that would be wonderful, and bind's done a really bad job on that. but also once we start that economy growing, the expected real return on capital's going to to be rising very sharply, and this is the one thing we really, really want, is higher returns on capital, higher productivity, higher growth. that will have two effects as was pointed out. one, it will raise the the real rate of return but, two, a higher rate of return means there are more goods and services available which means lower inflation, which means the lower inflation premium. right around now i'm not sure which of these two factors plays the most important role, but we do immediate to get inflation under control. -- need to get

inflation. and i would look very much at powell and the fed, and we do not have control of that yet. powell is -- larry: all right. hang on. e.j., i want to go back to you on this because one of the reasons that i'm crusading, if you will, for one big, beautiful bill is that i think lower tax rate as, extends tend thing them or adding to -- extending them or adding to them is in the case of the corporate tax, the 15% tax, things like no taxes on cash tips and overtime, anyway, lore taxes and deregulation, supply-side policies which produce if more goods and services, that will help to bring down inflation and and will help to curb the fed's mistakes. ed and biden-esque mistakes. that's one of my arguments. let's get it in not only to get a blue collar boom going right away this year, but also to curb

the biden-flation, e.j. i don't think that argument gets enough currency, but it's important. >> larry, you're absolutely right. especially when we remember the basics about inflation. it is fundamentally too much money relative to the size of the can economy, right? too much money chasing too few goods and services. and so even if powell is going to continue to allow m2 to grow as he has been doing again, if we can grow the economy faster, which i think is really what we're talking about here, with those tax cuts, with those incentives to work with, right? if dr. laffer's talked countless times about how tax on income, if you tax it, you're going to get less of it, this is providing a disincentive to work. and so if you can lower hose taxes or get rid of them entirely with things like no tax on tipses and and to tax on overtime, then you will get more of those things. you'll get a more productive labor force. the economy will grow x. if you grow it faster than the money supply, you will bring down

inflation, absolutely. and i think this is also a key reason why the president is pushing so hard for an increase in energy production, because that will also grow the economy. except that on top of that you kind of get a double payout here, if you will, because it's also going to bring down prices throughout the economy. larry: right. >> energy as ubiquitous -- larry: right. permeates the whole economy. arthur, i've got a minute left, but i want to get this in. larry lindsay writing today, brilliant harry lindsay, you know, we import if -- the united states imports about 5 trillion a year. 5 trillion. if you have a 10 ring around the collar, to use mr. trump's phrase, 10% universal tariff, "the washington post" article yesterday or the day before was fake news. but if you go with a 10%, that's $500 billion a year. okay? let's assume the tax cuts go through and the deregulation and

the energy. i don't see a problem here. i don't see an inflation issue. europe has a 20% value-added tax. 10% baseline tariff, that'll give you $500 billion a year. that'll pay for a lot of tax cuts, art laffer. might even go beyond what they've got. i don't think people have factored in mr. trump's determination to work the tariffs as part of his america first economy. what you think? the -- >> that's true catch and if you go back prior to 1913, tariffs were the primary revenue source for the united states, larry. they can be a large source of revenues here as well. they can be. they have to be broad based. they can't be discriminatory or protective or that type of stuff. but, yeah, if it's used to cut income taxes and especially progressive income taxes and corporate taxes, i think it's a great trade-off with regard to taxes. i mean, it's just the right way to do it. but no one should ever eliminate if taxes on imported products as a revenue source. what most people really worry

about is gym a that story taxes -- discriminatory taxes to protect domestic industries. what you want to do is have a broad-based tax on imports would be a very understandable component of an overall tax system that goes to low rates, broad based, and we're cutting those high rates. that's really critical. and if you fund it with some of the tax i increases on trade, you have me onboard. larry: right. i don't think that tariff piece has been fully factored into the discussions. 'em j., i'm sorry, we're out of time. but you're both terrific. e.j. antoni and art laffer. coming up here on "kudlow," we've got whales, we have windmills and we have drip, drip, drip showers all from mr. trump's presser today. so we also have mark simone and jackie deangelis and caroline downey right here on set to weigh in on whales, windmills and drip, drip, drip showers. i'm kudlow, be right back. ♪

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♪ >> and, you know, you can talk about windmills, they litter our country. the windmills are driving the whales crazy. their a disaster -- they're a disaster. they're rusting, rotting, falling down. they also want to go back, and and they have her started that, when you buy a faucet, no water comes out. it goes drip, drip, drip. is what happens you're in the shower ten times as long. he wants all gas heaters out of your homes and apartments. he wants them to be replaced by, essentially, electric heaters. these people are crazy. there's something wrong with them. there's something wrong with them. larry: sounds like my showerhead because i can't get a plumber up in connecticut, but that's a different segment. joining me now, jackie deang --

deangelis and mark simone, wor radio show host and hall of famer and caroline downey, staff writer at "the national review." how's your shower, jackie? i don't want to get personal, you know what i mean? [laughter] just as -- >> well, i know it's going to be okay now. [laughter] larry: just something to talk -- is all these crazy things the bidens have done have not and are not working. and that includes they want to ban gas heaters, they won't let you turn on the water full steam. in fact, they tried to cut off water. you can't take a shower. and then again the other point he's making, it may sound kind of lefty, but it's not. there's a lot of legitimate conservationists that want to save whales. windmills offshore are absolutely devastating to that. and anyway, you can't get rid of the windmills onshore. they rot and they rust. >> so the narrative changes to suit them. if they want to go forward with the windmill narrative, they're

not going to talk about the whales that they're killing. he was talking about the gas -- or the electric heat, rather, and and how it makes your skin itchy and how all these policies, basically, have been terrible, and they haven't worked, larry. you and i both know that. larry: what'd you say? [laughter] >> ultimately, these were experiments, and we can keep working on them, try to fine fine tune them. i spent many days in the field to doing stories on windmill, solar, all of this stuff. we're just not there yet. we have seen it with the evs. people didn't buy them. it's not something that worked, it cost us all a lot more. and his tone today was really amazing because he's speaking to us like we're real. we've lived it the last four years. people are fed up with it, and it's kind of the amped-up rhetoric that we used to to hear from him. they're just like you're not even in office right now, and you're making sense. get there. change it. [laughter] he's going to revoke almost all of it, everything he can. i think, caroline, there's going to be -- i wouldn't be surprised

if on day one, january 20, in the afternoon after he's sworn in, inaugurated, there's a hundred executive orders out, stuff on climate change, stuff on the border, stuff all over the place. wouldn't surprise me one bit. and i don't know if your reporting is indicating any of that. >> yeah, he's absolutely going to clean house when it comes to invasive regulations that are hurting so many americans, larry, except what he can't do is undo the sabotage of the biden administration at the 11th hour like these restrictions on billing, the ban on offshore drilling that trump slow vows he's going to reverse. just like how the current biden administration sold off and auctioned off those border wall materials that were very expensive which would make it so that trump would have to restart the funding process, a very onerous process to get the border wall constructed, sage -- same thing with this drilling restriction. he's probably going to have to go to congress to get legislation passed to undo that. he can't just say, oh, get rid

of that that biden order. larry: that's what he's going to say. now, they may fight it out if court for the next four years, but that's life in the fast lane. i mean, i think you'll see -- and i'm going to go to you, mark, on this -- he is not going to be stopped by some goofball law like in 1953 that allows biden to stop leasing and drilling if either the atlantic or the pacific basis sins. -- basins. he'll never met that stand up. i had ted cruz on here haas night if. ted said -- and he knows about constitutional law. he said trump will make an executive order and revoke it and then, yeah, we'll fight it out in court, by the time you fight it out, we'll be three presidents hence. >> if you want to do something about climate change, the last people on earth that know how to fix it are politicians. they can't even fix pot holds. everything they've done are cheap, symbolic gestures. a wind bill runs on oil. the blades are the size of the

washington monument. it's an environmental nightmare to get rid of them. electric cars. electricity comes from coal. it's fossil fuels that power an electric car. they're four or five times as heavy as a regular car. you'd have to replace every bridge in america if you went electric so, hopefully, they'll stop this. and everybody that's done anything with windmills around the world is now in the process of taking them down. larry: right. >> they don't work. larry: they do unbelievable harm everywhere they go. it was such a terrible idea. and, by the way, to construct these windmill farms, massive amounts of carbon dioxide flow into the sky. okay, i've got another one. this one's even tougher. the last vestiges of weaponization and lawfare. take a listen to this. >> so this is, deringed jack smith. so he dropped the lawsuits -- deranged. they're not allowed to issue the report. so if they're not allowed to issue the report, that's the way

it should be because he was thrown off the case in disgrace. we have a judge in new york who's a very crooked judge. i'm under a gag order. think of it. i'm the president of the united states, and i'm not allowed to speak. why? because if i did speak, people would understand the scam. larry: so, you know, kind of makes a good point, don't you think? makes a very good point. >> i think he makes great points, and i think it's time to move on from all of this nonsense. what we learned in the last four years is that it's a waste of time and gets us nowhere. he has so much work to do, larry, with respect to not only his policies, whether he's going to do it in one bill or two, the border, taxes, reversing all these ridiculous things that joe biden has done, fixing our, you know, our perception on the global stage, horrible foreign policy mistakes, we've got to move past jack smith, move past these bogus lawsuits. he's got to get to work, and he needs to be allowed to do that. larry: so, caroline, it's interesting, judge aileen cannon

down in south florida, who was the bane of jack smith in the first place, pulled the plug on him, and the supreme court went with her, not smith, okay? he shouldn't have been there in the first place. she's now saying he can't issue a report because he shouldn't have been there in the first place, so how can you release a mythical report? there is a lot of logic to that. is it going to hold up, i guess, is what i'm saying. because they want to get their last minute if digs in with this stupid report. >> right. larry: how can you make a report if you don't exist legally? that's what i'm asking. >> and to publish this report publicly would violate the doj rules that say you cannot publish evidence about someone who was not charged. donald trump is not charged anymore. larry: okay. >> and judge cannon, as you said, already dismissed this indictment on the grounds that jack smith was disqualified, and his appointment was unconstitutional. so the only reason to bring this report is to humiliate trump as he enters office. it's so sully his good name, his reputation, and the american

people rejected lawfare and this use of partisan weapons. larry: right. these guys are fighting the last battle or the last war. i didn't amount to the anything. if anything, it helped trump in the presidential campaign, but they don't seem to have any self-examination in them, the democratic left. mark, he referred to judge merchan here in new york city as a corrupt judge. i don't know all that he means on this, but hasn't it been shown that -- let me get this right, merchan's daughter is a democratic operative, and among her projects was, for money, promoting this very trial, the alvin bragg trial in new york. >> yeah. raising money based on it. alan dershowitz said i've read this case a hundred times, i cannot figure out what the crime is. larry: right. >> nobody in the history of the world has been charged with this. every company in the world does it. 30 million of nondisclosures are signed every year. nobody's been charged with this.

it's insane. larry: it's because they don't have good showers. [laughter] >> and they're itchy. larry: that explain plains a lot of it, and that's what trump was trying to say. big, beautiful showers are coming back. mark si moarng thank you, caroline caroline downey, jackie deangelis. catch jackie on "the big money show" weekdays 1 p.m. eastern, right here on fabulous fox business. thank you all. all right, folks, coming up, we're going to ask the great, wise newt gingrich if he like thes the sound of the gulf of america as much as i do. ♪ if. ♪ if your best defense against erosion and cavities is strong enamel. nothing beats it.

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larry: so the gulf of america does sound pretty good to me. joining us is newt gingrich, former speaker of the house, fox news contributor. very serious, i mean, we talked about with this at the top of the show. you're the historian. the monroe doctrine, which was codified by john quincy adams, expressly says to european if interference. and, okay, fine, no european interference. i would say that should be modified and that includes no

chinese interference. they're all over the place in this hemisphere, newt, and i think trump is right to really, you know, do something about it or prepare if america to do something about at -- about it. if. >> well, i have no particular position on the gulf of mexico versus the gulf of america -- [laughter] but i think you're right though about something that's much more important, and that something which i think actually you have in the new secretary of state, marco rubio, a person who really understands this. we have to go back on offense in all of latin america. we have to take it seriously. you know, for years and years we had our attention on a place like afghanistan that's a long way from here, and we had no real attention on our own neighborhood. this is a problem that goes all the way back to the 1950s and 1960s. milton eisenhower wrote a book called "the wine is

bitter" about 1962 saying we're neglecting everybody. well, it's really important that we take seriously the problems of haiti, venezuela, cuba, nicaragua and that we said to the mexican government that the period of tolerated cartels is over -- tolerating cartels is over. we need to develop a joint effort to basically destroy the cartels and the drug industry that they represent. and i think it's going to take -- and i'm really glad that marco rubio's agreed to do this. i think he has the knowledge and the focus, and he also has an understanding of the chinese. so i think you're right. we should have a major american goal of rolling back the chinese just as we rolled back the soviets and before that we rolled back the a nazis. larry: you know, the other part of -- the other point or one of many points mr. trump made today, newt, he talked about mexico and the possibility of a 25% tariff.

i don't -- as far as i know, president sheinbaum has not done what trump wants her to do on the border. i mean, i don't see her bringing 25 25,000 troops in, for example, which was essential to the success of remain in mexico in mr. trump's first term. i see her making snippety remarks and proms to education e employer, but, i mean, i don't think -- to explore, but i don't think he'll hesitate to use the tariff weapon if she doesn't help us. and thus parks it doesn't look like she is. >> well, she's clearly not. i mean, she's taken the position that she's the most anti-american president in modern times. larry: right. >> for the state of israel -- i mean, the state of mexico. and the fact is it's partly because i think she's in alliance, essentially, with the cartels. we have to recognize the level of power, the amount of money, frankly, the amount of military force that the cartels have in mexico rivals the government of mexico. so i think this is a very

serious long-term problem, and i'm glad to see that we're finally turning our attention to it. and she's going to have to face some very big choices, because an america that wants to has an enormous capacity to block mexico development and has a great capacity to make sure that that we, in fact, can force changes we want. i think in the long run she's going to have to give in or she'll preside over a very, very difficult economic reality in mexico. larry: just the last 30, 40 seconds, newt, terrorism, domestic u.s. terrorism, the evil new orleans if story, i mean, have we lost our will to the fight domestic terrorism, or will the new group coming in, you know, pam bondi, kash patel and so forth, will they reenergize us? >> well, i think they'll reenergize us.

we need to remember, domestic terrorism aside, it's linked to the international terrorism. larry: all right, sorry we ran out of time. ♪ i have type 2 diabetes, but i manage it well. ♪ ♪ it's a little pill with a big story to tell. ♪ ♪ i take once-daily jardiance... ♪ ♪ ...at each day's start. ♪ ♪ as time went on, it was easy to see. ♪ ♪ i'm lowering my a1c! ♪ and for adults with type 2 diabetes... ...and known heart disease, jardiance can lower the risk of cardiovascular death, too. serious side effects include increased

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influence in its own backyard is very serious business and absolutely essential and congrats to president trump for raising it forcefully at today's news conference. and i will pass the baton to liz macdonald. liz: thank you, larry. that was a great show. really so smart. good stuff