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tv   Varney Company  FOX Business  January 21, 2025 10:00am-11:00am EST

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♪ ymca ♪ stuart: ymca. 10:00 eastern straight to the money.
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green for the dow industrials up 300 points. look but of negativity on the nasdaq. a little red, two points down. the 10 year treasury yield be most 4.6% of the price of oil coming down to $76 a barrel. bitcoin back to $103 a coin, 109,000 overnight. now this. we were told to expect shock and on day one, that is what we got. there is the president behind a desk in the capital one arena stacked with executive orders. he went to the oval office, more stacks of executive orders, went through one by one. that is big. in a few hours between his swearing-in, donald trump reset the government. there's shock and at the extent of the changes.
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look what he did. he rescinded, reversed 78 executive orders biden signed, 78 gone, biden's rules on race and gender and offshore oil drilling, trump brought back a ban on trans serving in the military. biden's plunge into the world of woke and climate extremism has been turned around but there is more. he announced a national emergency at the border, authorized the use of the military to seal the border. declared and energy emergency so we can drill baby drill, we are out of the paris climate accord, out of the world health organization, the ban on tiktok has been delayed, federal workers have got to get back to the office. is going to change the gulf of mexico to the gulf of america. it won't be -- going back to being mount mckinley. that's a fraction of the 200 plus orders he handed down on day one.
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there will be court challenges and legislative challenges, not all the orders will stand but the message is clear. this is a revolution. trump is doing what he said he would do, what he was elected to do. it is intense. it is exciting. it has only just begun. second hour of varney just getting started. lisa booth this morning, sort it out and give your opinion on what is the most important action donald trump took on day one. what stands out to you? >> securing the border. because we are not a nation without borders, we've not been a proper nation for four years so the executive actions to make us a country again to protect our borders, to protect americans is the most important and if you think about the last four years under president biden we've seen in our country to terrorists, gang members,
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criminals, it is time to once again take control of borders and protect americans and put americans first. i think that is probably the most important. another aspect i am excited about is restoring common sense with the fact our only two genders and it is shocking we went down that road to insanity but we are returning to being a sane country. stuart: it is surprising we went down that road in the first place. >> a lot of people did in the country. stuart: the country did overall. listen to this. squad member a lot omar called out the hypocrisy of lawmakers who attended the inauguration after they called trump a threat to democracy. he went on to say those lawmakers lied to americans. how do you see this going on? >> i don't care about them. the american people reelected donald trump with 77 million of the votes for the first time in 20 years a republican is heading now in the white house
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with popular vote behind him, all the jews he needs to really hit the ground running which he already has with all these executive orders, the guy means business, this is the golden age for america yesterday was liberation day and that is what it feels like, feel like the country has been saved, when he was talking about god saved him to save america i believe that in all my heart. how many of these conversations of we had where we just spoke that our country has been going down the wrong path, become the antithesis of what america is supposed to be, no longer a constitutional republic and now that has been restored, the american people have spoken so i don't care about these naysayers, donald trump is going to have the least amount of resistance he has hand all the wind at his back, so much to accomplish and this is the golden age of america and i'm so excited about the next four years but you're killing me from walking around last night, i am tired but very excited
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about the next four years. stuart: there were five inaugural balls last night. how many did you get to go to? >> i went to the liberty ball and also the honor to be at the military ball. that was so cool to see the men and women in uniform, so excited about having a new commander in chief, we remember the day when president biden botched the withdrawal from afghanistan, got 13 servicemembers killed, dark day for america to now a new commander-in-chief who is going to lead them in a better direction, a lot smarter, more judicious how he uses our troops and serves as a deterrent to once again have a strong commander-in-chief that our enemies fear and our allies respect. stuart: if you are tired you are not showing it. >> i had a couple cups of coffee. stuart: lisa, thank you very much. check out the markets which i'm calling it at extended trump bum, dow is up 240, s&p up 23
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points. mike lee with us this morning. are you more bullish now than you were before the inauguration? >> yes because i will tell you the speed with which trump got to work yesterday, there's a level of organization and urgency in this administration that i don't know i have ever seen. the number of executive orders that came out last night, the temporary appointees to get into these agencies right away, the political appointees that do not require congressional approval, this is on a completely different level if not stratosphere than the first go around and the idea of this administration is american prosperity so how can you not be bullish, more bullish because a lot of the confusion and disorganization of the might of plagued of the first administration is just gone.
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stuart: trump says energy and energy prices are at the core of his economic changes. is the future of our economy based on trump's energy policy? >> i don't know that it is the future of our economy but it is based on trump's energy policy but it is extraordinarily significant, you cannot have a growing thriving society without abundant cheap energy. fossil fuels are at the moment the best way to accomplish that. when you wage war on fossil fuels your first day in office as happen four years ago it is a net negative. i hope we will accelerate nuclear projects because my favorite stocks are ai names i love to talk about require a ton of energy, nuclear, most efficient, cleanest, most powerful energy source available. i would love to see a ton of that in this administration but that takes time and until we get there, drill baby drill.
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stuart: i see nuclear stocks doing very well today because you are right, nuclear is the answer to the energy needs of those data centers. it has got to be. all good stuff. thanks for being with us, see you again soon. looking at movers and i can tell you 3m is moving 4.5% up. lauren: it is an industrial bellwether, postat maker. post earnings thanks to electronic sales. stuart: schwab. lauren: profits soared 44% helped by higher asset management fees, those fees jumped 22% in the 12:$45.5 billion, stock up 8%,%, the first report card under their new ceo. stuart: dr horton. lauren: sales, housing market is soft, stock is up 1% because that fall is better-than-expected and it did reiterate guidance for the year. stuart: as long as we know real estate is still in the doldrums. we can say that. stuart: one more for you.
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the inauguration speech donald trump made promises to reclaim the panama canal. lauren: he said american shippers are being overcharged and china has taken control of the canal and said he is renaming the gulf of mexico by executive order. watch here. stuart: america will reclaim its rightful place as the greatest most powerful most respected nation on earth. there are going to be changing the name of the gulf of mexico to the golf of america. china is operating the panama canal and we didn't give it to china, we gave it to panama and we are taking it back. lauren: he called for alaska's done on a mountain, the highest peak in the country to be called mount mckinley again. if you take these things together the message is he wants not only a stronger america but a bigger america too. stuart: and he wants it now, get on with it. still had.
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biden's parting act, blanket pardon for his family. what happened is a bad precedent. >> donald trump reportedly considering a wave of preemptive pardons. >> concerns me in terms of what kind of precedent it sets and how the rest of the world looks at us as a nation of laws. stuart: judiciary committee chair jim jordan is fired up about that and on the show a little later. do you see this from last night? trump managed to bring together jake paul and mike tyson. the other top moments from trump's big night as the second hour of varney roles on. ♪
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stuart: 45 minutes into the session the dowser 250 points to the nasdaq slipping 63. donald trump signed an executive order declaring the us government will not recognize the concept of gender identity. alexandria half, trump says there's just two genders, male and female and that is it. >> reporter: exactly right and when he said gender it is a misspeak because the white house says they are removing this term gender because it can mean too things. the federal government, biology matters, reaction declares there are two unchangeable sexes, male and female. things like housing, prisons, sports in particular. the erasure of sex and like
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widgeon policy has a corrosive impact on women and the validity of the entire american system, basing federal policy on truth is critical to scientific inquiry, public safety, morality and trust in government itself, the white house says the secretaries of state and homeland security belittlement changes that require all government issued identification documents to accurately reflect biological sex, options like non-binary and other will be removed. the announcement of this order earned cheers yesterday from the and i get ration viewing crowd but legal challenges are expected as they are for another new executive order removing federal dei programs. he commented on that yesterday. >> to ensure that merit is the lodestar of our decisions. >> as per the supreme court. a big deal, merit. our country is going to be based on merit again.
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>> there's some cost-saving. according to the watchdog group open the books the department of health and human services alone said $68 million in taxpayer dollars each year on dei related initiatives and the hearing set for the secretary pick for hhs picture hhs, rfk junior is not set. stuart: thanks. in 2020, cnn asked biden about preemptive pardons by trump. watch this. >> reporter: donald trump is considering a wave of preemptive pardons. does this concern you? these preemptive pardons? >> president biden: it concerns me in terms of the precedent it sets and how the rest of the world looks at us as a nation of laws and justice. you are not going to see in our administration that kind of approach to pardons.
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>> we did with a few minutes to spare in the administration. what happened to this setting a bad precedent? >> what i think is interesting is the contrast, they said donald trump is considering primitive pardons which he didn't do, president biden did. donald trump said i will pardon january 6th defendants which he did. president biden said i'm not going to pardon my son or my family and he did that, donald trump did what he said he was going to do, president biden did the opposite of what he told the american people he was going to do. that's the sharpest contrast to. these preemptive pardons particularly for the january 6th committee are ridiculous but this is president biden. everything he has done has been ridiculous. stuart: it is over. donald trump has revoked the
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security clearances of 51 intelligence officials who claimed hunter biden's laptop was russian disinformation. is this the government weaponization you've been trying to end? >> it sure is. this is something that should have happened under president biden. when we figured out through our investigative work and oversight work that that whole plan which said the hunter biden laptop was russian misinformation operation, that whole plan put together was done with coordination with the biden campaign and we think that was the biggest election interference back in 2020 because that came out october 14th just weeks before the most important election we had, president of the united states and president biden used it in that final debate against donald trump so these guys were in on it. mike morel, clapper, all these guys signed that letter telling the american people something
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that was not accurate weeks and days before the most important election we have so this is appropriate, glad donald trump did that executive order and a host of others that he did because that's good policy. stuart: you are involved in politics daily basis that's what you do a political kind of guy. did you see this level of shock and coming on day one, these executive orders, the stuff he has done it is a revolution? did you see it coming? >> we thought it would be and one thing about donald trump, i say this all the time. i think we make the job too complicated. it is simple. when you tell the voters what you're going to do when you ran for if they elect you go do what you said. no one does that better than donald trump, dated in his first term ended in on his first day of his second term and when he told us he was going to do this stuff weather was pardons or the 51, border security, executive orders, he told us he is going to do it
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and did it in a way that the big and bold and so donald trump like about no one does more what they say they are going to do than this guy, this is why the american people like a man supportive and he's going to help make our country great again. stuart: congressman jim jordan, thanks for joining us. the senate passed the laken riley act 64-thirty five. explain it. what happens next? >> goes to the house and the president's desk. what it is is named after the georgia college student murdered, there she is, by venezuelan migrant previously arrested. it would mandate federal detention of illegal immigrants accused of certain crimes. a dozen democrat senators backed this bill and if passed it will be one of the first major pieces of legislation, shows the prioritization of the border and safety but there's a cost to those detention centers to keeping him in detention.
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dhs says $27 billion. stuart: that is a lot of money. marco rubio unanimously confirmed and now sworn in as our secretary of state. where do trump's other nominee stand? donald trump will attend a national prayer service. what does jonathan morris think about trump's openness about his faith after the assassination attempts, he sitting down shaking hands, next.
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piper sandler calling at their number one buy-and-hold idea, they raised their price target from 315 all the way to $500 with tesla down thanks to a report they lost $15 billion in value in 2024 because of their aging lineup. american eagle, the clothing brand surging to equal weight for morgan stanley, raised their price target to $16 which as you see on the screen is below what the stock is trading at $17.20, up 7%. stuart: never understood that but got it now. soon donald trump will arrive at the washington national cathedral, attend the national prayer service at the top of the hour. donald trump said he believes he was saved by god. watch this.
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>> those who wish to stop our because have tried to take my freedom and my life. just a few months ago in a pennsylvania field an assassin's bullet went through my ear but i felt then and believe more so now that my life was saved for a reason. i was saved by god to make america great again. stuart: jonathan morris joins me now. we are not used to a president being so open with their religion like this. do you think the assassination attempt was a turning point in spiritual life? >> watching people mock him for saying that is horrifying. i've seen it by very smart people mocking him. imagine if it happened to you. if it happened to me. nobody can say from the outside god did that, god save the you
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but if it happens to you you have every right to say that and anyone with a mind and a heart would say that, thank god i am alive, thank god i am alive and what am i going to do with the life that i have. i find it very normal, healthy, mentally and spiritually to say i was saved by god and have them mission. stuart: this has come to attention, pope francis called the deportation plans a disgrace. that's pretty strong word for a political development. what say you? >> totally out of line to be criticizing a policy from afar unless you get into the details but according to catholic and christian ethics politicians not only have a right but a responsibility, obligation to control immigration levels at sustainable and safe levels.
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that's basic christian catholic social doctrine or teaching which anybody has a right to leave one's country but not to enter another country and don't have a right to do it illegally. the pope what he means is let's be respectful of immigrants but making blatant statements like disgraceful without getting into why it is disgraceful is a mistake. stuart: former adviser david axelrod criticized trump for not placing his hand on the bible and taking the oath of office, here's the quote, curious the trump who spoke about his near death experience after being targeted by an assassin's bullet has divine intervention neglected to put his hand on the bible when he took the oath. >> he wouldn't have a bible there. he had a bible right there, the ceremony was hurried it seems at 12:00, secondly donald trump
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doesn't touch people or things if you notice he gives a lot of fist bumps, a lot of thumbs up. david axelrod is making a big mistake suggesting donald trump doesn't believe in god's providence because he didn't put his hand on top of the bible. the bible was right there. stuart: i thought he was nitpicking and it surprised me. who knows what he's doing in politics? going the wrong way. a mistake. it was disgraceful, you are all right, thanks for joining us. trump's inauguration speech lasted 30 minutes. how does that match up against past presidents? lauren: the longest inauguration speech in modern history. reagan held the title with his
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1985 speech, 2,600 words. that was also the last time the inauguration was held indoors. now trump holds the title so look at the list with 2. 9,000 words trump beats out reagan, biden and all the rest, the inauguration speech in 2017 was the shortest in modern history so it was double his 2017's and touched on many things, his win, immigration, the economy. entering a golden age. william henry harrison deliver the longest inauguration speech in 1841, 8600 words, more than three times trump's speech but harrison died of pneumonia a month later and some people say he got pneumonia because of exposure to the elements during his ceremony. stuart: that's called iron he. welcome back, see you.
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elon musk's dogesn with lawsuits minutes after trump was sworn in. that story for you. next up. of mars. >> we will pursue our manifest destiny into the stars launching american astronauts to plant the stars & stripes on the planet mars. stuart: trump's plan to bring back space expiration and take astronauts to mars. we deal with it next. ♪ ♪
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stuart: we are all in positive territory, down 270 higher, 23 up for the s&p, small gain for
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the nasdaq 9 points up, senate has confirmed marco rubio as secretary of state, the vote was 99-zero. rubio was the missing vote because he was being sworn in. aishah hasnie on capitol hill joining us. what about trump's other nominees? >> reporter: things are progressing not at the breakneck speed here's moving that first 24 hours, wanting congress to move with him at the quick speed but things are progressing and we could see more confirmation hearings later this week and maybe one later tonight. first i want to talk about kristi noem, she was reported out of her committee last night with a bipartisan vote which means a confirmation vote could be coming shortly for her. pete hegseth favorably voted out of committee but this was a party line vote, no democrats voted for him. while it is possible to see a
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confirmation vote this week democrats could try to delay this forcing the 30 hour debate rule. the cia nominee john ratcliffe favorably reported, ratcliffe had democrat support him, expect more for him, he could be confirmed later tonight. lease stefanik is testifying at her hearing for you and ambassador right now. she has widespread support especially for her support of israel. this will be an easy one and we are watching tulsi gabbard, rfk junior and kash patel, the most controversial nominees from the trump white house. they are hearings haven't been scheduled yet but we might see rfk junior have his hearing later. they will move slower but more confirmations could be happening as early as tonight.
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stuart: thanks very much. senior members of britain's royal family come to america to visit trump. do we know who's coming? king charles? ashley: it could be but the reason behind this is to, quote, reinforce the relationship between the uk and the united states but british government official says donald trump has a clear affinity for the royal family so trip across the pond makes sense. talks at an early stage but a visit next year's the most likely scenario. king charles may receive an invitation to washington dc to attend the 200 fiftieth anniversary of the signing of the declaration of independence. also next year, the us cohosting the world cup with mexico and canada meeting prince william whose patron of the football association in england will be invited to
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attend along with his wife princess of wales and king charles also send a personal message of congratulations to donald trump on his inauguration, good feeling between donald trump, we know how much he loved clean elizabeth the second. stuart: everybody did. donald trump pledged to send astronauts to mars. what did he and musk say about this exactly? ashley: trump and musk says it is time to move on from the mars -- the moon and set our sights on mars. >> we pursue our manifest destiny to the stars launching american astronauts to plant the stars & stripes on the planet mars. ambition is the life learned of a great nation. our nation is more ambitious than any other. >> we take dogee to mars.
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imagine how awesome it will be to have american astronauts plant a flag on another planet for the first time? there need to be things that make you glad to wake up in the morning and say i am looking forward to the future. stuart: talk about energy. ashley: musk called the moon a distraction and wants nasa to drop its plans to return and instead head straight for mars but congress has not been receptive as they see china setting its sights on the moon but musk has called mars colonization life insurance on life. stuart: trump's inauguration was filled with hostilities and viral moments. what have you got?
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lauren: lydia: all eyes were on trump but there were two guys who stole a little bit of the spotlight, close advisers of the president, elon musk and his son baron both brought the energy yesterday in different ways. we saw some of it from ashley's report, pumping up the crowd doing fist bumps, parading around stage, more subdued and refined in his acceleration but trump not want to be upstaged, we saw a lot of him as well, look at him cutting the cake with that. i will see a lot of videos on social media, people cutting birthday cakes with swords that will be a trend. during the inauguration party things will get lifted. seems there is no bad blood between mike tyson and j paul. they had the big sanction fight, on his shoulders. stuart: they made a fortune together.
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we would be too if that was the end result of that nice payout. speaking of celebrities, we are seeing carrie underwood. i think this is the top performance we've had on and inauguration ever. there was a technical issue with her background music so she decided to sing america the beautiful a cappella. i think it was more powerful without music. he asked the crowd to single with her and she has a beautiful voice. we also got more star power. j.d. vance's kids gave a preview of what will be like to have them in washington, so adorable and held ires. lots of band-aids on fingers, the young son draped over. they were tired. it was a long day, they don't know dad is vice president. everyone including milania, trump left us know she was feeling tired. take a listen.
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stuart: i will get hell when i say this but her feet are aching, you know those heels. she said darling, i love you so much about my feet are killing me. then we went out to the helicopter and said goodbye and the wind is blowing like crazy and the hat she is wearing, she almost blue away. charles: -- jackie: she looked amazing. it was an amazing designer the debtor looked. i would love to hear what malani had to say after that reveal but beauty and fashion is pain and she looked really good. stuart: slade is the new word which i use the word dazzled. madison:considering how regal she looked, dazzled is more appropriate.
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stuart: trump begins his first presidency, began his first presidency it was chaos. the media and democrats hated him and did everything they could to put him down. this time his policies have the backing of the voters, democrats are divided. trump's second presidency is very different from his first. that is "my take" top of the hour. dei out. biden's ev mandate out. green new deal out. does this unlock the us economy? we will deal with that next.
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stuart: take a look at big tech. alphabet, amazon, nvidia up, apple down 9%, sales in china down 18%, $9 for apple, 220. donald trump signed an executive order declaring a national emergency, energy emergency. watch this. >> a declaration of national energy emergency.
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>> that is a big one. that allows you to do whatever you have to do to get out of that plan and we have an emergency. stuart: he's entertaining. ej anthony joined me now. dei out. the green new deal out. how does this unlock the us economy? >> all these things are necessary but not sufficient. we need to cut more government spending, provide additional tax relief. all the things he has done so far are necessary. we need to unlock american energy, reprioritize what the government does so we are not focused on people's immutable characteristics. we need to be focused on merit and the same principles that he' s now applying to
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government jobs, government hiring, he is seeking to apply to immigration where we want to bring the best and brightest people, not mass importing unskilled labor that's going to drive down the wages of americans competing for their first job. stuart: are you surprised at the fast and strong start? >> not at all because he is doing what he promised he would do which is how he ran his first administration. this man is unlike most politicians delivering on what he promises, promises made promises kept was the refrain they used previously and that will be the refrain this time as well. stuart: trump has become an overhaul of our trade system. watch this. >> now we are going to drill baby drill and do the things we wanted to do and bring your costs down and prices down and make our country safe.
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i'm immediately withdrawing from the unfair 1-sided paris climate accord ripoff. the united states will not sabotage our own industries while china pollutes with impunity. >> reporter: not quite the right soundbite but it will be up to speed, executive orders, he said he's going to put 25% tariffs on mexico and canada starting february 1st. that's a new that the new policy. a stated policy now. >> it will bring the leaders of those respective nations to the negotiating table. something donald trump realized is this president has been the first any very long time may be since mckinley who realizes he can use purchasing power as a financial weapon on the world stage. we have all the leverage, the
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trump card as it were when negotiating with nations like canada, mexico and as a result of that if respective leaders in those countries don't want to play ball, give american producers, american manufacturers a fair deal we will go toe to toe with them and impose the same tariffs they are imposing on us and lose because thank god donald trump knows it. stuart: a trade war is often a nasty thing. if it drags on for a few months his damage is done. >> certainly. fortunately we are in a difficult position in 2025 with nations like canada and mexico than we were in 1930 with most of the rest of the world. that is when herbert hoover had the tariff act and what that did was essentially a scatter shot, almost random series of
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tariffs for nations across the world and it was a tit-for-tat in which america did not have a lot of leverage with those countries and it did help make the great depression worse. we are in a very different situation, donald trump is proposing a different series of measures today. i don't think people drawing the comparison between what is happening right now and what happened back then understand the historical situation. stuart: thank you for joining us. jimmy failla takes on rachel maddow's be willed or meant. donald trump said congressman byron donalds has a bright future. will he run for florida governor? i will ask him because he's on the show. borders are tom homan on whether the flow at the border has stopped. environmentalist bjorn lundberg on leaving the paris climate accord. the 11:00 hour is next.
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