not raiding people's homes and picking up housekeepers and other people who are simply here illegally they are targeting harding criminals and gang members, everyone in the countries glad to see those people out of here, what is phil murphy doing with this person, honestly who knows. >> 30 minutes before the opening bell sounds on the tariff 660-point lower on the dow industrial was a pretty thing changes before the midnight deadline tonight. >> we will see you soon. "varney & company" picks it up. take it away. >> good morning everyone. the president will place tariffs on canada, mexico and china affect about midnight tonight. there will be some short-term pain, investors are feeling the pain right now, you're looking at a cell the dow industrials will open maybe at 600 points lower, s&p down a hundred, a big

drop for the nasdaq coming looking at 400 points to the south, bitcoin tell enough to wear down to $94700, that is the latest price per coin a little change for interest rates, no obvious flight to safety the ten year yielding just above 40 half% in the two year over four and a quarter% just below 424. oil for maine 7464 a barrel filed with the 10% tariff imposed on canadian oil. it's a very big day for your money, follow it all the way through the day. a very big day politics as well the administration is playing hardball. elon musk shut down a government agency, u.s. aid, top officials have been put on leave or resign and the website has been down since saturday and elon musk was closing it down he asked president trump several times they want to go through with this, the president said yes, do it. special envoy bricker now played

hardball in venezuela after he visited dictator maduro agreed to take back gang members and pay for their return. secretary of state rubio went to panama and came away with the agreement that contracts the chinese companies that control the canal would not be renewed and that is hardball too. the democrats are in disarray they elected an unknown as dnc chair, they're scrambling to react to the tariffs complaining that they will simply raise prices senator tim kaine rails against the u.s. aid shut down as a potentially criminal incident from an unelected corrupt billionaire, it's a big day on politics and money and donald trump celebrates two weeks in office, just two weeks, monday february the third 2025, "varney & company" is about to begin.

♪. stuart: let's get out of president trump following through on his promise to impose tariffs on canada, mexico and china 25% tariff on mexico and canadian goods, 10% tariff on canadian energy products in chinese goods, the tariffs go into effect at midnight tonight. watch this. >> we subsidize candida by the tune of $200 billion a year and for what what we get out of it we don't get anything out of it i love the people of candida. i disagree with the leadership of canada. if they want to play the game i don't mind we can play the game all they want this is retaliatory to a certain extent. stuart: candidates prime minister justin trudeau announced tal latoya beutel tariffs on $150 billion of american goods. president trump says he will hold calls today with the leaders of canada and mexico, the wall street journal is calling this the dumbest trade war in history, that was over the weekend, david bahnsen with me the dumbest trade war in

history, what is your take on this. >> of all of this goes forward i'm afraid i'm on the journal side i hold out hope that there's a way to build this bakken a few days into it gets harder then the prices go back and forth in a get stickier, i was support of the president street deal in the first term, he says the ripping us off i feel like trump supporters don't realize they're coming down on the trade deal that president trump himself did which was a good trade deal. i'm against this it raises prices, fish just to negotiate for better drug deal support, bordered control were getting past the turn of overturning. stuart: what are the consequences if it drags on my dragon on i need a couple of weeks. >> manufacturing goes down, yes activity goes down as a higher cost into the system and it puts downward pressure on economic growth we need tax where you get less of it. stuart: i was watching kevin

hassett earlier this morning. this is not a trade worth this is all about drugs, fentanyl and all about drugs, respond to t that. >> that's not what president trump said, kevin hassett is a very good friend i love hearing that that's what it is let's get better support to stop fentanyl and let's not make it a trade war. if we do 25% tears across-the-board they retaliate it's 150 billion-dollar cost to the economy. it becomes a trade war, if cavett is right i hope he is is being done to get support with drug trafficking then maybe we get a quick indeed but it doesn't look like that's the way it's heading. >> it's gone so far even though the tariffs have not been imposed and counter tariffs, it's hard to see the sun winding in the short term. >> people are saying different things to the president kevin hassett is talking one way but stephen miller and pete navarro are saying let's do as a trade war, nothing will happen.

and who's going to win the argument. stuart: in early days can you predict any winner in the market, a stock group in industry group, is anybody going to win. >> people are sure the markets going to win. >> anybody else. >> this not a sector that's going to win from this that's the one thing about trade wars. >> does this continue if there is no resolution to this in the immediate future they are selling on wall street continues. >> there will be valleys on the way but if it continues i hope it doesn't it puts downward pressure in the market has to reprice that is not just those exporting directly that hurt, they hurt first but then you get knock on effects, if you look at the u.s. auto sector for example, they make stuff here but the import about apart along the way. he gets very complicated who all is affected that's what drags the market impact on. stuart: can you get political support on the long-term if it drags on.

>> in 2018 it did not hurt, that's not true because they did it soft. it was only 30 billion in tariffs, he's coming out five times bigger and manufacturing is lower today that it was seven years ago. stay with me for the hour if you would, the president said there could be pain from the tariffs, watch this. >> we may have short-term a little pain and people understand that but long-term the united states has been ripped off by virtually every country in the world, we have deficits with almost every country, not every country but almost in were going to change it. stuart: charlie hurt joining me this monday morning do you think voters agree that tariffs are worth the price if this drags on for some time. >> i think the president is been very clear there will be a short-term pain but i think the thing to remember you know who else is going to feel this pain

is a mexican citizens and canadian citizens which is why as a bargaining chip this is a smart bargaining chip when you have the largest economy in the world and you don't use it to their advantage to get what you want and get the policy things that you want then you're leaving a really powerful tool on the table and donald trump is the first president in decades to come along and say we are going to use this. obviously i also think donald trump got elected very clearly talking about these things and talking more importantly about the policy prescriptions that he wants to employ whether closing the border or stopping the flow of drugs into the country. both of those things are high priorities of donald trump and obviously high priorities of american voters because that's what they want done and that's what were seeing right now. the last thing i would say,

whatever pain does come from these tariffs, donald trump is acutely aware of that nothing donald trump wants more after getting the policy agenda america first policy agenda through. nothing he wants more after that the prosperity. he wants a prosperity for all americans. i think he is going to wage this war with the very kenai to how it is affecting american consumers and employees. stuart: where are the democrats on this. they have not had a real response another then the prices are good to go up we've not seen a real solid response at this point. >> they left the field a part of the conversation. and after inflation for years of absolutely destroying the american dollar and destroy people's value in people's pockets, very suddenly act like

they care about inflation, no they don't they care about their stupid crazy policy wacko stuff that they have been pushing on every aspect of american life or the past four years and suddenly now that the out-of-control they claim to care about grocery prices, chuck schumer cares to claim about the price of an avocado for about her into bottle of corona beer, no he doesn't he has not lifted a finger to do anything about inflation when they passed the massive inflation explosion bill that will forever be joe biden's legacy and jacked up inflation in this country. they did not care they did not do anything but support the policies and now that they're banished off the field have no power whatsoever they will complete and act like they care about grocery prices, give me a break. stuart: it is extraordinary but the two week anniversary of trump getting into the oval

office he's only been there for two weeks. look what happened good stuff see you soon. coming up after ric grenell's visit venezuela is agreeing to take back their illegal migrants captured in america they will provide transportation to get them back, was there a threat made, good question we will ask that question two. president trump says there is a way candida can avoid tariffs. become the 51st state. is that realistic, kevin o'leary will respond, he is next. ♪ (♪)

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stuart: edward lawrence nunes from the white house this is coming at us the white house says we are told trump, the president just spoke with candida justin trudeau moments ago and he will speak with justin trudeau three 3:00 o'clock this afternoon that sounds like a negotiating process to me, what do you say. >> it sounds like that is what is going on the president posted that untrue social that he spoke recently with justin trudeau the prime minister of canada. the tears had some americans uneasy but the president said there may be some pain in the short term but in the long run this is done for the good of the country he's betting that america will be okay with a slight increase in prices on some goods in order to stop fentanyl from crossing the borders as well as what the president calls an invasion of illegal migrants the president imposing 25% tears on canada and mexico with energy from candida

at a reduced tariff rate of 10% china will see across-the-board 10% tariffs, the white house official said they will end with candida and mexico to stop illegal migration as well as american sign of fentanyl. >> this is not a trade war with candida, mexico or china, this is fentanyl we have mass invasion of our country and we've been taking mass casualties we lose almost 300 people a day to overdose in this country that's a tragedy president trump wanted to end. >> president trump spoke minutes ago with the canadian prime minister plans to do it again at 3:00 p.m. eastern time and he will also talk with the mexican president this morning. democrats pouncing on the field the tariffs will cause higher prices. >> again we are now in the trade war with mexico and canada and the american people it will now be a war between prices and their paychecks, that is the last thing that we need.

if you think that this is good and if someone tries to convince you, president trump or anyone else that this is good for the american family i have a bridge in brooklyn i can sell you. >> we have not seen evidence that prices are actually rising at the tariffs they don't go into effect until tomorrow. stuart: were waiting to hear from a conversation from the president and the leader of mexico which is supposed to take place later on today. the feeling that some negotiation is going on i'm sure you'll keep us in touch. trump says candida should join the u.s. as the 51st state, do that you avoid all tariffs, kevin o'leary joins me no that does not seemed like a realistic proposal to me, how do we win the trade war and tell me what does winning look like. >> this is not the first time trump has talked about buying

candida in canadian people do not want to sell their sovereignty that's been tested and pulled for a couple months but what is happened the more this narrative continued about the economic union around energy and making something so large that china would never catch up to then there was a lot of interest amongst canadian people and a pulled up to 33% of canadians wanting to know more as always a trump have to distinguish the signal from the noise this economy is unique, 17 of the u.s. states and number one trading partner is canada and alberta has five times more energy and gas and oil than the entire united states there is opportunity it is not crazy and people want to understand more. >> is any possibility that negotiation would take care of

this in the short term and we already heard president trudeau spoke with president trump and we will hear at 3:00 o'clock this afternoon there is scheduling calls with the leader of mexico. is there a possibility there could be a negotiation settlement quickly? >> it's unfortunate it's justin trudeau's because he's been calling trump all weekend not getting this call return until now least of the bad relationship from the very first term along with negotiated nafta she was the finest but she just quit justin trudeau is on his way out is unfortunate that this was not happening six weeks from now when we wouldn't had a government in canada but it is what it is is there a chance, you absolutely trump's negotiator, everybody's talked about this if he gets what he wants between now and midnight this whole thing goes away and we can talk about the economic

union. obviously there's a lot of angst on both sides of the border because this trading partnership is massive. it is massive think about the long-term implications is almost impossible but i don't think there will be long-term i think it gets worked out quickly if not today quickly and then we move on to try to look at the opportunity of a behemoth economy where there is no tariffs north, south, east or west, that would be interesting. stuart: one more i knew pulled from the new york times says most voters do not believe the economy is important to democrats, we have yet to get a real democrat response to the tariffs, where is there leadership on the economy. >> the election when it occurred was a good thing that happened to the democrats in the sense they should reboot nafta get rid of the old guard, the pro tanto pelosi and obama and movie stars

like george clooney deciding who should be anointed and leadership, the last candidate was a disaster, everybody knows that's true, run a process and start a new leadership in the democratic party is an unknown man or woman we've never heard of probably, that is a good thing for them they have gone so far off the tracks that nobody wants to vote for them including democrats don't want to vote for them. at the end of the day it is reboot time enough to look inwards and say what is it mean to be a democrat. it used to be the party of the people, somehow, someway trump stole that from them in america fixed itself in the selection it went back to commonsense policy and here we are. stuart: always a pleasure, come back and see us soon. we have a lot of stuff for you. over the weekend elon musk and doge employee shut down the u.s. aid agency. as he was doing this as he was

shutting it down elon musk as the president are you sure you want to go through with this multiple times trump said yes, it's a 40 billion-dollar agency shut down 10000 employees this is the first full-scale shutdown of a major government organization that i can remember, this is a break breakthrough. >> i agree, the question is going to be what they do to replace in the private sector the charities going to pick up some of the work and churches, they do a better, that's what i would like to see adam mind the agency going down but to the extent there is good aid in giving's being done given off the government and move it in private charity i hope that's been thought through. stuart: in this example of hardball being played by the same initiation. >> there to keep doing it. thank you. check the futures, this is a selloff down 600 for the dow, 370 for the nasdaq and 100 points lower for the s&p.

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stuart: on monday morning selloff, down x50, 400 on the nasdaq that will be close to 2% for the nasdaq. keith fitz-gerald joining us are tariffs a black swan event they created it are you buying the dip? >> you back, i think it's going to be a good move to buy the did we knew they were coming, the question is how bad will they hit and how long will this last. stuart: you think is going to be a short-term thing? >> i do if you suggest that is the case president trump is using this as a negotiating tactic, others will respond quickly and businesses and people asking what can i do not to lose us the wrong question they should ask who is going to come roaring out of this because they can succeed despite it all anyway. stuart: talk to me about palance here they reported after the bell. >> happy to its today "after the bell" i'm looking for really strong numbers you don't see this company often.

80% margins growing at 25 or 30% a year the company knows where they're going to have a crystal clear mission and the ceo is pro-american. stuart: this has been swept into the downside move today and it welcome back up, do you think is going to $100, palantir? >> is taken on every price target since we began talking about 35, 50, $85 a share once we take out a hundred we doubled it again within the next 36 months. >> that's a nice recommendation, talk to me about walmart you like to for a long time. today swept up into the downside move. i'm wondering if tariffs will raise prices at walmart and that would hurt the stock, would you say. >> they probably will but if you think longer term if this tariffs situation is going to hurt people it probably will because a lot of people's wallets are tight it could defend the purchasing change in defendants margins and consumers in the online business growing 35 or 40% a year there is real

growth under the hood in the day like today it's stability that i'm after. stuart: let's summarize this you think this is a short-term reaction the tariffs situation, short-term reaction that will blow over at some point in the relatively near future and will go back up again in stock prices, is not where you're coming from. >> it is worldly down 1.6% assigned resilience not wea weakness. stuart: got it, see you soon the market is about to open you will see a lot of red ink at least at the opening bell. how we close i have no idea. remember i'm interpreting this as negotiation going on trump has spoken with justin trudeau and all speak at 3:00 o'clock this afternoon and speak with mexico's leader. we opened sharply lower, the dow off one point to 5% 560 points i don't see any winners unchanged

at the moment at the dow 30. 1.6%, that is 100 points lower nasdaq composite sharply lower. 1.6% down 424-point let me show you big tech all of them down big time microsoft, meta, also but apple all on the downside now let's take a look at the sectors which are taken on the chin over the new tariffs, taylor is with us, let's start with big tech. >> shoot first and ask questions as my theme for the day not what you're getting in today's market, big tech this is interesting traditionally this is a long-duration asset, if you get yields rising on higher inflation typically that means big tech does not do well because of the big heavy cash flows that they have going out further along. this is a classic if yields were to rise, big tech traditionally would not do well but the fact

that you're only down 1% gives me similar to keith fitz-gerald confidence not panic. stuart: chipmakers, we know the story, 10% tariffs on china you are definitely looking at the chipmakers, those are down a little bit more five, three, 4% on the biggies. let's see how this plays out in the longer this goes on the heart of the companies will get hit but this is one day. >> 10% tariffs. >> if we want to play chicken, who needs who more do we need as far do they need the mark. a bigger selloff in chinese companies because their big exported to us think about the stuff on amazon and ali baba and jd that we are buying so again they're getting hit harder than we are today. stuart: so for all the sectors everything is read about the automakers. >> i would guess a similar story gm talked about this last week

they said they were in constant conversation with the president, i come with some facts, canada and mexico in 2024 gmm particular imported 3.6 million cars to the west that is 22% of the sales that is not small change are small potatoes. if we look at gm there downward and 5% on the day that's see the duration of this. stuart: i'm wondering about retailers we don't know if tariffs will be passed along to consumers and hurt the retailers. they're all in the red. >> retells the biggest margin business especially grocery stores which is separate than a traditional retailer like walmart, assuming they do not pass this on to consumers it would be hitting their margins if they can pass on some of the cost if there are any that go through long-term then customers would have to feel that. how much sourcing do they get from overseas.

walmart is a classic mba case study that the supply chain analysis down in the pricing power how much are they able to negotiate with their suppliers in walmart would not take the hit. it's a good case study. stuart: america's go to place a 10% tariff on canadian oil and i see the oil companies are all down. >> is a lower carveout than 25% which is good. we do get about 4 million barrels of oil per day from canada that's according to last october the said crude oil imports from canada reached a record. his positive news is only 10% it's a carveout from the additional 25% but i did see oil prices start to rise a little bit as we start to figure out how much of an impact for you at the pump. >> candidate is imposing tariffs on american alcohol all the alcohol guys are down. >> this is an interesting source, 80% from the u.s. i don't know how much of that is

imported that what i was able to learn from the balance sheet 80% in the u.s. you don't want tariffs on that that's why they will get hit a little bit. it was interesting ontario responded and pulled the u.s. liquor off of their shelves to see how it goes. it is day one, not even day one tomorrow is day one we will have to see. i'm looking for green somewhere, the last group is the mining company, we found some green, tell me more. >> this is interesting i don't think mining is going anywhere. when you think of all the natural resources, all of the materials that we get for ev batteries that is all from china. how much impact this has, let's play this through and see. i think a lot of these companies preordered if you will to get ahead of this this is going to be a longer-term story that we want to see how it plays out. >> thank you very much indeed

we've gone through a whole list of red ink treat is there any stock that you would buy on the basis of the big tip today apart from the dividend. >> chevron isn't a big dip is down a little bit but when it's time 2%, the oil companies are not getting hit hard, chevron was down friday and a tougher earnings season. upstream are really good downstream of the first negative quarter in years. i think it's a great time to buy chevron almost 5% yield profits are near record levels, the growing like crazy very favorable energy policy and the new administration they're not affected by the staff of the tariffs at all chevron is a great play. stuart: you wrapped it up nicely. the drugmakers are another sector is basically flat today because the drugmakers are not really involved in the tariffs story and merck was down six months of last year i think it's a better value low beta and low volatility, three to half% yield

that grows every single year, merck is a leading drugmaker i would buy long-term. stuart: thank you very much indeed. canada says is plated retaliatory tariffs specifically targeting republican led states. alaska's republican governor is going to be here to respond to that my next guest says tariffs don't cause inflation he says tariffs could lower consumer prices. anthony probably will explain. he is next.

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stuart: it's a selloff. dow down 500 and s&p down 85 points. in percentage terms, we're down today. elon musk set a new daily goal for doge's government spending

cuts. a daily goal. how much does musk want to cut per day? reporter: stuart, he thinks he can cut about $4 billion a day saving money that till today was going down the drain. the department of government efficiency is in its disruption era and elon musk is not letting time go to waste getting rid of government waste. musk says they're shutting down an entire government agency scanning american taxpayers under the guise of international charity. the u.s. agency for international development. on a call with musk last night, senator joni ernst said her own investigation into usaid found 50 to 60% of the money was going to anything but direct aid to help people, wining and dining among other wasteful things and musk saying usaid is a rotten apple that's just got to be thrown out.

>> we've got all kinds of threats from usaid because i was trying to exercise my oversight capacity in congress. we love to feel good about helping starving children and name your country. but it's not going there. it's going to support somebody's fancy dinner, to entertain whoever. >> it's got to go. it's beyond repair. reporter: musk gained access to the treasury's payment system getting a real look at taxpayer money going out the door. musk says they've been spending money behindly "payment approval officers at treasury were instructed to approve payments to known fraudulent and terrorist groups and never denied a payment in their entire career, not even once". democrats in congress are outrae that had musk got access to a sensitive system including social security and medicare payments.

>> you have elon musk who he himself receives billions in government contracts now seizing control over the payment systems to government contractors. , including himself, including potential rifles, including potential friends. what could go wrong? reporter: stuart, doge terminated more leases for vacant government buildings bringing the number to $24 million in taxpayer money. stuart: he's only been president for two weeks. hillary, thank you very much indeed. anthony pompiani joining me now. take me through the economics of tariffs. >> they're one of the american traditions and george washington and fast forward to today and not talking about 1700s but 2025 and in 2018, trump put tariffs in place and he did washer machines, solar panels and steel. all three products saw a short

term about 3-6 month increase in price, but before the pandemic, all three of those were then trading at lower prices than pre-tariff prices. so what ends up happening is we're punishing external foreign producers and we're incentivizing domestic production. when we do that, they produce more. produce more, the price goes down. stuart: accept for maybe weeks or months prices of some canadian products coming into next go up, you accept that? >> of course. stuart: how long are you prepared to accept that for? >> i argue years of higher prices for decades of lower prices, that's good tradeoff. that's not going to happen. stuart: flee politically? >> it is. american people sent donald trump in office and elon musk to slash costs and do that. stuart: tell me how american tariffs create american jobs. >> putting tariffs on washing machines and two korean manufacturers came to the united states and said we don't want to pay the tariffs and came and built plants here in america and

created them here and created lower pricing and today washing machines were cheaper than before the tariffs were put on. stuart: david. >> aluminum tariffs lasted six months and president trump took the tariffs off and whole point is what you can't see is the way it impacted other industries. manufacturing is down 20%. right now from where it was before those tariffs started and never came back. that's the issue is there's certain jobs that change and benefits one group and hurt as larger group. it's always a cost to the economy. stuart: how tariffs lead to lower income taxes. >> if you look in 2018, he increased tariff revenue and generated revenue for the government and dropped 39.7 to 27% and tariffs put in place because we didn't have income tax and used to be over 90% of all government revenue from tariffs and zero income tax. from 1850 to 1950 or so, we went from all tariffs no income tax to exact opposite. donald trump wases to increase

tariffs and drop income tax. 2018, real life example, implemented tariffs and protected american jobs and increased american economy and inflation went down nine months later and dropped federal income tax and that was a tariff experiment and we're headed to the tariff era. >> only $30 billion of tariffs in 2018, 30 billion. a government that cost 6 trillion to run and he's right. tariffs were talking about going higher five times. when tariffs were the only source of revenue, government spending 1.9% of the economy. it's now 25%. everyone using that argument is ignoring the real problem and you agree it's the size of government. you cannot fund the government with tariffs. it's 20 times larger than it was when talking about 18th censure reigns leading. stuart: respond. >> tariffs are operating in a big complex economic machine and elon musk cutting significant cost and thinks a trillion of government spending and having

tariffs play out at the same time we're going to cut government spend sergeant a much better situation than just the tariffs levied in the cut of government spending. stuart: quite a day. or quite a year. it's been extraordinary two weeks since he became president. thank you, anthony. senate minority leader chuck schumer slammed trump for the tariffs saying could raise cost of super bowl stapedius muscle les. watch this. >> going to affect new mexico everything. let's just take super bowl sunday, okay. it's going to affect beer. most of it corona comes from mexico. what is guacamole made of? avocados. both from mexico. if you have pizza, going to affect the cost of cheese. state of america all of these subject to price increases. stuart: well, david, have at it,

please. >> yeah, it's so cheeky and kind of lame what he's doing. economically if i thought democrats were really concerned about higher prices, i would love to hear it. the way he's doing it is silly and ultimately we don't care about it. i care about higher prices and believe if you tax more of something there's lots of it and tariffs are taxes and chuck schumer is not just interested in honest consideration. >> president trump playing hardball and result driving america in a new direction. stuart: something voters said they were ready for. that's my take. top of the hour. egg prices surging and all about bird flu, could spike 20% and bring you the full report from a farm in new jersey. that is next.

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charles: arkansas stuart: owing prices could spike as much as 20% this year. jeff flock joining us from a

farm in columbus, new jersey. this is all about bird flu, isn't it, jeff? reporter: yeah, can't blame this one on the tariffs, stuart. it's all about bird flu. it used to be free range eggs for the expensive ones. now they're all expensive. look at what these are eating. these are free range which she cannens, and they're -- chickens and they're eating brussel sprouts. that's a blood orange. this is environmentally conscious farming. joe is from honey hound orchards. >> that's correct. reporter: your eggs are worth their weight in gold right now. >> yeah, that's right. it's like little yellow cold nuggets. they've been very popular. reporter: take a look at numbers, stuart. they keep getting worse. as recently as a couple of months ago, we were under $4. now we're almost $8 a dozen.

and you have people numb eggs here. >> yeah, a free range flock of 500 hens and not free ranging, we let them lay in the morning and let them out in the afternoon. they get produce from our local farmer's market. reporter: what are you feeding them right now? grapes. >> yeah, these are good grapes. reporter: i could eat these. you get a december count? >> yep, they load me up all the stuff they don't sell and give to the chickens on discount. reporter: i didn't know chickens eat such things. problem is now they've destroyed 20 million hens. you got to replace ones when they go away. >> yeah, that's very expensive and very difficult to get. the cost is not as much as a factor, it's expensive but being able to get the hen because they're just, they're uhl nicing them. reporter: joe, that you can't so much -- euthanizing them. stuart, i hope you can afford your next omelet.

reporter: i'll try. stuart: jeff flock in new jersey. see you later. i want to thank you you, jeff, and for you being on the show the entire hour. quite a morning, wasn't it? >> indeed. stuart: check that market. it's quite a morning, all right. dow's off 640 points and s&p 100 and nasdaq's down 400 points. it's tariffs that have done it. still ahead, lieutenant colonel james carafano on marco rubio's trip to panama and getting china out of the canal. he's playing hardball. and mike dun levy on the trade war affecting his state. steve forbes on trump. trump saying the pain from tariffs is worth the price and felt joe concha on the dnc insisting it needs a nonbinary leader to be able to win elections. the 10:00 hour is next. ♪

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