trade. and, yes, reagan, he loathed tariffs. he loathed protectionism. but, folks, look at this, he used it. and look at a some of these industries. clothes pins? i mean, he used it. he tightened them on autos, steel, sugar, textiles, semiconductors, motorcycles, canadian lumber, japanese imports. the tariffs on those japanese if imports were $300 million at the time, that was a 100% tariff. reagan said i want this to be short-lived. it took five years but, guess what in look at the results. u.s. chip makers went from less than 10% penetration in japan to over 20%. that was the get. by the way, along the way a small company called intel became a semiconductor juggernaut. you don't have to like these policies, folks, and i don't care what the experts say, they have worked. taylor riggs is in for liz claman. over to you. taylor: second favorite word after tariff is resip co--

reciprocal, according to scott bessent. charles, thank you so much. the trump war take another leap forward as you just heard, but it doesn't seem to be affecting the markets. hello, everyone, i'm taylor riggs in for liz claman. the major averages, as you can see right now, it is a buy across the board being led by tech. the nasdaq now up 1.5%. investors clearly much more focused today on lower than expected inflation data than they are on the 25% steel and aluminum tariffs that go into effect today. the european union and canada both responding with reciprocal tariffs, but in a meeting later today with ireland's prime minister in the oval office, president donald trump says the u.s. will respond to the moves by the e.u. and canada. the european union said it will impose if tariffs on $20 billion worth of u.s. goods starting next month, and canada said it will fire back with almost $30 billion, canadian dollars, on

u.s. goods. but secretary of commerce howard lutnick telling fox business this morning, this is all part of the president's plan. >> the president wants steel and aluminum in america. and and let me be clear, nothing's going to stop that until we've got a big, strong domestic steel and aluminum capability. and, by the way, he's going to add copper to that mix too. so just remember national security rises above all other things. some foreign steel will go up, for sure. but then they will build those plants in america. we will have -- our plant production in america is only operating at 50, 55%. that's got to get up to 80%. you don't get inflation from if having a tariff, because what a tariff says is that it's made in europe, it's made foreign. it costs, it might cost a little more. but that which is made in america does not cost more.

taylor: mean while, this all comes as we received cpi data this morning that showed inflation cooled more than expected last month. cpi growth coming in at 2.8% year-over-year in february, below the 2.9% forecast. so let's do it all. let's dig into the push-pull narrative that we have in the markets right now. i'm pleased to say we can do it with our floor show. joining me now, strategic wealth partners' coo tony -- and washington crossing adviser senior portfolio manager kevin caron. great to have both of you. kevin, let me start with you because cpi data is always backward-looking, but this is a market that's trying to read in the tea leaves to figure out with these tariffs what the heck is going on. >> yeah. so there's a lot of noise in the data that has to be looked right past. so the data from january and february involves a lot of companies that have been pulling forward and shipping in goods to the united states.

our imports surged tremendously. and remember, imports are a deduction from gross domestic product because we're trying to measure domestic product, and if it's made somewhere else, it has to be stripped out. so the economy, the outlook for growth in the first quarter or in gdp is getting revised down tremendously, and when you think about what this means going forward, if we're shipping in goods, we're going to be putting them on inventory, putting them on the shelves, so production may slow down for a while. and to the extent that we're paying higher prices to bring these things into the country, you would expect to have some higher pass through of those prices to cpi in the next few months. taylor: tony, are the markets responding appropriately and orderly to the push-pull narrative that i described in the open? >> i think they are. i'm in the camp that this is a normal interyear correction, 10-20, which we haven't seen in almost 24 months.

and let's, you know, face the facts that valuations are stretched, the white house is creating economic uncertainty in the near term. there's just a lot -- this is a big shakeout period. but we do feel that the second half of this year is going to be higher. but honestly, right now and even maria asked donald trump, like, over the weekend do you expect a recession. and i can't rule that out, that a shallow recession is possible this year. as we start talking to a lot of our business owner clients and associates, they're in a holding pattern right now. cap-x spending, until there is clarity, is on hold. taylor: and that's why a lot of people say stop talking about tariffs and start talking about tax cuts so we can plan and invest. i have an awesome chart of the day, kevin, and it looks like you're on a similar page with me where people are describing thil with comparisons to the dot.com bubble, but almost like a 2000

light where you have a big rotation out of mag 7. but since july 10th with that rotation you've had a big increase into staple, financials, everything else. it's actually similar to a rotation though the magnitude is different than what we saw in 2000. do you agree? >> yeah. well, yes, because in the end what you have to have is you have to have return on the capital that's being deployed in a.i. and with the data centers and the buildout that's been going on there, the numbers are just astronomical. you're talking about hundreds of billions of dollars. and when you start to look at a fledgling technology ask you're getting competition that's now coming into the space, there's a a real question about whether or not those, all of those investments are going to turn out to be economic or not. this was a shakeout that we saw in the early 2000s. there were a lot of companies that got washed out in that process. but in the end it didn't, it didn't negate the very positive

things that happened with the internet over the last 20 or 30 years. i think the same exact thing is about to play out here. taylor: always need more time with you both. tony, kevin, thank you so much. meanwhile, we have to check some of the u.s. automakers. the car companies rely on massive amounts of steel and aluminum to make their autos, that's according to informs-- invest media. take a look at ford, gm, she land stellantis, even rivian. rivian's in the positive, but everything else is to the downside. the american automotive policy council which are represents the big three automakers responded to the tariffs in part, quote: revoking the exemption for canada and mexico and extending tariffs to auto parts with steel and aluminum will add a significant cost for automakers, suppliers and consumers. that's where we're going to our very own liz clayman who join --

claman who joins us from austin, texas, at the south by southwest conference. we know you got a chance to speak with rivian's chief design officer. did he give you any indication as a to the impact that the tariffs may have on them? liz: yeah. in fact, everybody here at a south by southwest is definitely chattering about that, i have to say. we've moved outside of the convention center. it's a bit loud because, of course, austin is all about live music, and south by southwest is a tech and music and culture big event, 350,000 people coming. so there are literally dozens and dozens and dozens of venues and more than 100 bands. so just take a look. you've got a lot of a crowd here today. listen, technology is definitely a big discussion. the ceo of ibm is here, the ceo of blue sky, jeff graeber, is here. they're talking about social media, they're talking about everything else, they're talking about china. they're talking about robotics. speaking of which, oh, look who

i just met. this is a little unitree robot named beyonce. hi, honey, can you jump? oh, how cute. all right. as i understand it, he also -- she -- can do a handstand? okay. i mean, what can i say? [laughter] i don't know the purpose, but it's going to row to bots. let me take you over to rivian though because, once again, they are the big sponsor. and as a big, big, big presence that they have here. this is the r1s, their brand new second generation of the r1, all made in america. i did have a chance to talk to the chief of design, and i specifically asked him when you are developing your next car, specifically maybe the next 4 42 which is -- r2 which is less expensive, how are you going to deal with the tariffs? here's what he had to say. >> our next vehicle on the

market which will start around $45,000, as an american brand designed and engineered in california, we're focused on building a lot of jobs in america as well. our r1 and r2 will be launching in norman, illinois, where we manufacture our r1 products, and then we're expanding to atlanta, georgia, as well for building additional capacity for r2 and r3 as well. liz: now, the tariffs are definitely affecting small businesses here in austin. you're looking at maude bikes, an austin-based small business. they make e-bikes with a 50-100 mile-an-hour range. they are assembled here, but a bunch of materials come from china. the austin police department is actually beta testing them. they have a bunch of them on the floor of the tesla gigafactory. so it's something that is very much at the top of mind. and i talked to one of their top sales guys about what do they really think about the tariffs and the sort of back and forth of it all.

here is what he had to say. >> we're concerned. we're worried, obviously, like everybody else with most of our manufacturing in other countries. but we're trying to stay ahead of it and get the best rice point for everybody. liz: how do you price through all of this? right -- >> right now we lowered pricing, right now we have to reevaluate and see where we're at. liz: so price hikes coming? >> let's hope not. that's what we're evaluating right now. liz: i think that really kind of reflects what a lot of businesses in america are doing, they have to evaluate, but it's changing day by day. back here now at the convention center in austin, i moved outside because we've got to run next door, i'm going to be on stage with rene haas, the ceo of chip design giant arm holdings. their technology is in 300 billion devices around the

world. we're going to talk about everything from the tariffs, from possible export tightening of course, that rump has talked about when it comes -- that trump has talked about. and, taylor, i thought of it was the really, really smart when charles talked about how ronald reagan was look at tariffs when it came to china and japan. that's how far back that was. right now it's the semiconductor industry that's center, i'll talk to renee has about that coming up -- rene haas. taylor: i love your assignment, but you need your texas cu boy boots with those jeans, liz. [laughter] liz: so much fun. south by southwest, it's huge. taylor: amazing. you're doing awesome work. liz claman, good luck on that next interview. meanwhile, investors hunting for a bargain are hoping consumers looking for a bargain will mean big bucks for online coupon provider groupon. we're telling you why its stock is one of today's biggest movers. and later, egg prices may be

cracking -- get it? -- household budgets. but one company hoping to, wait more for it, scramble their shopping habits. we're talking to the ceo of just eat? if just egg about their plant-based alternatives. it is a fox business with exclusive. we're coming right back. ♪ ♪ ♪ ♪ the flag replacement program got started by a good friend of mine, a navy vet, saw a flag at the office that needed to be replaced and said wouldn't this be great if this could be something that we did for anyone?

comcast has always been a community driven company. this is one of those great examples of the way we're getting out there. where ya headed? susan: where am i headed? am i just gonna take what the markets gives me? no. i can do some research. ya know, that's backed by j.p. morgan's leading strategists like us. when you want to invest with more confidence... the answer is j.p. morgan wealth management well, i'm a local company in chattanooga, tennessee that gets to save lives all around the world through tiktok. i didn't have the millions of dollars to put towards marketing, and that was the hardest thing. when i posted on tiktok that went from maybe a few hundred people knowing about my product to millions. (♪) we were able to make over $300,000 in less than two days. it saved my business and it saved lives.

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taylor: so we have a fox business alert. investors piling into groupon. shares, as you can see, up 41%. the coupon if company posted better than expected fourth quarter results after billings in north america rose 8%

year-over-year. the ceo said the company rebounded nicely and is returning to growth as demand gains momentum. meanwhile, stitchfix, as you can see, is plunging about 9% today. this is despite reporting a narrower than expected has in its second quarter and and raising its full-year sales forecast. investors are spooked by the company's active clients which dropped 15.5% year-over-year, but the clothing subscription service said customers are responding well the changes it has made like the expansion of the items allowed per order. meanwhile, semiconductors are powering higher. i mean, pretty much you're up 4-6% all across the board on companies like intel, taiwan semi many, amd, broadcom and nvidia. so this is after a report earlier the that said that taiwan semiconductor made a a pitch to u.s. companies to take

intel's foundry division in a joint venture. reuters is reporting that tsmc said it would run the operations and take no more than a 50% stake. you could argue it is much needed for intel. meanwhile, coming up, some economists are warning that all of the uncertainty in the marketplace could be bad for small businesses and start-ups, but one six-month-old company is ignoring all the chatter to forge ahead with what some are calling the ebay for brands. we'll introduce you to the cofounders of high stock. they're helping brands get their unsold inventory into the right hands. it is a fox business with exclusive. and make sure to tune in to "the big money show. ' join me, dagen mcdowell, brian brenberg and jack deang lis each weekday. it is only here on fox business. we're coming right back --

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at t. rowe price, we help advisors move forward by building agile etfs designed to outperform the index. that's the power of curiosity. better questions can lead to better solutions. t. rowe price invest with confidence taylor: the recent wild movements in the stock market may be spilling over and spooking small businesses. according to the national federation of independent businesses, the small business uncertainty index rose to 104. that is the second highest on record since 1973. now, despite these businesses dealing with uncertainties around tariffs, goldman sachs' ceo david solomon told fox

business this morning there's reason for optimism. >> we're in a period of change. when there's change, there's uncertainty. it takes a while for people to absorb and adopt. but i continue to be incredibly optimistic about the united states and the direction of travel. we have an incredibly nimble and versatile economy, and i'm sure we'll a make progress and move forward. taylor: that is definitely welcome optimism from one of the nation's top ceos. and our next guests may have similar opinions. they just launched a platform six months ago that has taken $100 million worth of product and sold it to wholesalers across the world. joining me now in a fox business exclusive is highstock cofounder and ceo camille van horne alongside the company's other cofounder and president, ashish sinha. great to have you with both and congrats on starting this awesome wiz. i think, first -- business. respond to what david solomon was saying about how super

optimistic, but we have seen some concerns around small businesses who were nervous. it is an uncertain time. do you see or feel any of that uncertainty? >> first off, taylor, thank you for having us. we're so happy to be here. and as we think about our pulse on the economy at the moment, we are seeing that the in particular manufacturers are overstretched from an unsold inventory perspective. what that indicates to us is that there is potentially a softening in demand for product. that said, the way that the i think about small businesses and businesses in america, start-ups is that we are agile. so we are thinking big, we're -- and, especially, we've only been around for six months, and we've seen amazing traction to date. what's been, i would say, a hardest about our business, and this is really a highstock-focused comment, is that logistics require a lot of my fuschia. and a lot of attention to detail. and if you're thinking about customs, regulations, eventual

tariffs, that introduces a lot of general need to get into the nitty-gritty. and balancing that with big picture as we're thinking about the big vision for highstock can be damaging. taylor: i want to talk about the vision, but they always say to get to the future, we have to talk about the past. tell me -- we call this ebay for big brands, right? >> yeah. taylor: how did you come up with this concept given the background and how you two know each other? >> so i grew up in a family that owned a manufacturing business. taylor: okay. >> here's what we saw. businesses are sitting on millions of dollars of, in unsold inventory. either it goes to the landfill or they sell it, liquidate it for fractions of costs. and in some cases, you have to shut your business down. as an example, my father had to i shut his business down. and so i committed my life to

solve this problem. i went to lyft and instacart learning about how to build marketplaces. combine this whole intimate understanding of this business. partnered with camille, and now we are here to solve this problem for every manufacturer. taylor: how is this different than, let's say is, me as a consumer i love, like, a tj maxx, right? or a ross dress for less where i can go and dig through the pin and find something at a cheap price. how do you differentiate yourself from that. >> yeah. i think the crux of what highstock offer as, there's a lot of unsold inventory on the books of manufacturers in america. and as we all know, social media has taken hold of the globe. and we're actually seeing a lot of demand for u.s. product abroad. and so where we sit is we are essentially bridging that gap. we're a technology platform that connects these blands with unsold in-- brands with unsold invenn tear to amazing wholesale buyers.

these can be retailers abroad, also domestically from time to time like tj maxx, as you mentioned. and they're now getting access the deals that they weren't otherwise seeing. and so it's a business-to-business transaction. and we're starting with personal care and beauty, web -- taylor: talk to me about that. you start in personal care, why and where do you want to go next. >> we come from ins instacart -- instacart, we were spermists in moving product from point a to point b. beauty has massive acclaim on social media. it's an area that's ill-distributed, there's a lot of complexity around regulation and management of the -- [inaudible] piece. taylor: i want to talk about our viewers and our viewers are desperate to understand the way the funding round has worked. how have you raised business with, what has it been like, who's investing in your

business? what has that fund raising environment been like right now this. >> so we are very fortunate insofar as we essentially have very important learned insights from our time at a instacart, and we are uniquely positioned to solve this problem because of the ways in which we have scaled massive billion dollar marketplaces in the past. and so we have been fortunate to be able to raise $5.5 million in seed funding led by gray lock who has invested in airbnb and linkedin, as well as the cofounder of instacart. taylor: quickly, tariffs. are they impacting you? and as you are nimble, how do you navigate that in. >> -- that? >> so if tariffs are implemented, our buyers, naturally, the purchasing power will remain the same. taylor: okay. >> but the cost of work will go up. that means there'll be more if unsold inventory. and highstock is in a position

to solve that problem for brands, and we connect with buyers. and for buyers we are any ways giving them deals that are deeply discounted. so for them, it is a my -- might have some impact, but they are already sourcing product at a very cheap price. so they are making good money out of it. taylor: well, we're grateful for you coming here, and i wish you success on your business. >> thank you very much. taylor: we love entrepreneur. anyone who's starting a business, i'm in awe of. i never could, i don't have the guts, camille, and ashish, thank you. all right, which came first? it is the age-old question. but for now you don't need chickens or eggs to make your favorite morning breakfast dish because plants don't get the bird flu. the ceo of eat is here next d eat just is here next.

it is a fox business exclusive. and this is my favorite story toover the week -- of the week, you guys. elon musk's spacex is getting ready to rescue the stranded astronauts on the international space staying. we're going live to cape canaveral for a mission preview. "the claman countdown" is coming right back. ♪ ♪

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also ask about sunsetter easy screens, retractable screens that bring the comfort of indoors outside. ♪(voya)♪ there are some things that work better together. like your workplace benefits and retirement savings. voya helps you choose the right amounts without over or under investing. so you can feel confident in your financial choices voya, well planned, well invested, well protected. taylor: egg-fl a ation spiked 58% year other year in february according to the consumer price index that is out today. and if for those consumers who are sick of walking out of the store with egg on their faces and their wallets due to the price, a plant-based alternative to regular hen eggs is taking center stage. if if you're looking for an egg-it, get it, to inflation, the company eat just and its

plant-based egg product just egg unveiled its latest version of upon the-egging eggs. they're -- non-egg eggs. here's the kicker, there is zero cholesterol compared to the 2000 plus milligrams of -- 200 plus in regular eggs. josh tet rick is the ceo, and i'm pleased to say he joins me now for a fox business with egg- clusive. we are full of puns. talk to me about the business. i'm here in new york city, i pop into whole foods, and i can't find eggs. how much of an impact have you seen on your business. >> let me ask you, do you see us on the shelf? taylor: i do. i've purchased your product at whole foods before. >> because today at whole foods and many retailers around the country, we're actually the only egg on the shelf.

we're growing five times faster today than we were at this point last year. there it is. and it's remarkable, it's a remarkable moment in the industry. and for us where millions of americans are discovering there's an egg from a plant for the very first time. taylor: how do you make sure though that this is a movement and not just a moment? because we have bird flu in the country. >> yeah. it's one of, it's one of the most important things. 56% of the people that purchase just egg buy it again. so you've got millions of americans all across the country who are going to whole foods, they're going to walmart, going to kroger, going to their local independent snore maui, they're looking at -- store in maui. they're looking at the egg shelf, and all they see is the yellow carton. it's really important that we're reliable, and being reliable

means we deliver on time and in full, so we never want to be out of stock. and also being reliable means when you put that in a pan, it better dang well scramble -- taylor: yep. >> it better make a nice omelette, make good french toast with it. [laughter] so we've got to prove to the customer that we're not just the same dirking bird flu, but we'r- flu. we're growing five times faster than this point last year, five times faster than chicken eggs are. the frozen product, the number one egg patty in the united states. today we have the second best selling frozen breakfast item in the country. it's, it's quite the moment. i'm not getting as much sleep as i used to, but with i'm having more fun than ever. a. taylor: i'm sure you are. let's talk about price. clearly, i'm biased. i'm in new york city, so i know my eggs are 9, 10, a dollar more

if i want pasture-raised. your price, $7.36 at wal-mart, but if i go outside new york city, it is a little bit higher than the average cost of a dozen eggs nationally. how do you think about pricing in. >> so there are a number of states across the country that only sell cage-free eggs that end up being a bit higher on a per-egg basis. so if a state like california, arizona, massachusetts is often a only selling cage-free eggs, we're cheaper than they are. taylor: yep. >> long term we want to become the lowest cost, the best tasting. we already think we're the healthiest egg because we don't have any cholesterol, we have over three times lower saturated fat. our main ingredient that we make this egg with is a little green bean that i didn't know anything about growing up in alabama. it turns out the protein in this bean actually does scramble like an egg.

so to get our costs down, it starts with a lower price, a lower cost bean. the process of separating protein from it needs to come down, and we have a facility in western minnesota, this little town called appleton, that's doing that. but we think in a few years, bird flu or not bird flu, we're going to be the lowest cost egg in the united states. taylor: okay. there is a movement called make america healthy again. as a a movement -- it is a movement that i'm a fan of, and it's made me really rethink the crap i'm putting in my body. how are you taking advantage of that movement, and have you had any conversations with people like an rfk jr. who are so focused on this issue? >> yeah. i think, you know, i think it's a really important movement, and i think one where with folks in places like where i'm from in alabama and here in northern california where i live today with can can actually see eye to eye. we need to careen up our food. chronic disease, type ii

diabetes is caused by the stuff we eat for breakfast with, lunch and dinner. we focus on a few things. one is we're to only egg in the united states which looks at toxins, residues, plastics, a range of pesticides. so we're proud to be the only egg, chicken or plant, to receive that. being free of cholesterol, being less -- having less saturated fat is critical to that. and every year we put out an improved version of the egg. it's cleaner, it's healthier, it works better. we're coming out with our next version in june. and, you know, we also, like, if you're taking a just egg omelette, don't just put a little cheese in it, put some spinach a, some mushrooms, whole plants to make it even healthier. taylor: real quick, you have celebrity investors. how did you get them involved? >> we, we have a handful, and we reached out to them. we sent them samples.

we said is, hey, listen, if you're going to get involved in this, we really want you to actually like the product, not just play like you like the product. lindsey vonn, olympic gold medalist, chris paul, nba all-star, some of the top chefs, we sent them the product and said if this resonates with you, this mission to help make the food system healtherer and more sustainable, let us know what you think. and then we get rolling with them. taylor: well, my husband does my grocery shopping and my cooking, so he's a fan. i appreciate you taking the time to join us today. josh tetrick, thank you. from the skyrocketing price of eggs to just skyrocketing, the falcon 9 rocket will launch to the sunset in just a few hours,ly -- literally. spacex is going to cat catapult the mission that they hope will

bring home the two boeing starliner astronauts who have been stranded at the international space station since last june. let's get right to it with jonathan serrie who is live in cape canaveral, florida. jonathan, what have you got for me? >> reporter: hi, taylor. well, you can see behind me launch pad 39a a where the spacex falcon 9 rocket with the dragon spacecraft person perched a atop is poised for launch bringing four fresh crew members total international space station. once they arrive, that will allow test pilots butch april more and sunny williams to return aboard a separate space spacex capsule that launched in september carrying two crew members and two empty seats. it started as an 8-day flight test for going. boeing determined an issue could be managed safely for the return flight but nasa diseased they didn't want to risk it and brought starliner home

autonomously in early september, reassigning those two test pilots to a full mission aboard the space station. the crew 10 mission launching tonight includes two american, a russian and a japanese astronaut. after a brief handover from crew 9, they'll spend roughly half a year on orbit continuing the research on the iss. >> if you or a family member are impacted by parkinson's disease, then you have been -- then you have benefited from the research on the space station. if you know somebody that's going through canners -- cancer and receiving immunotherapy, keytruda, they have benefited from the experiences we do on the international space station. >> reporter: if tonight's launch goes according to plan, they launch at 7:48 p.m., they will dock with the international space station early tomorrow morning, and then after a brief handover period, butch, suni and the other two members of crew 9 will board their dragon

spacecraft and undock from the space station on sunday. taylor? taylor: jonathan serrie, we are waiting with bathed breath. baited breath, thank you so much. [laughter] now, they may call space the final frontier, but when it comes to investing in 2025, it is still all about a.i. today's countdown closer has one stock pick that stands out above those other a.i. investment ideas like chips, data centers and nuclear power plans. he's telling us what it is when "the claman countdown" comes right back. ♪ ♪ (♪) (♪)

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♪ taylor: fox business alert, the treasury department revealing today that the u.s. budget deficit has hit a total of $307 billion during president donald trump's first month in office. that is an increase of about 4% or $11 billion from a year ago. but former president joe biden reportedly went on a spending spree by with as much as $300 billion in his final months in office to help juice the economy, so the markets and, of course, to shore up support for

kamala harris in her bid for that 2024 election. i want to go right now to charles gasparino because we're coming off the highs of the session in terms of the equity market. the dow turns negative. we are hearing that u.s. senate republicans do not have the vote toss approve the house-passed government spending, that is according to the democratic leader, chuck schumer. of. >> it is the c.r., right, gets hem through september. other votes are about the budget and tax cuts and other measures that mean a lot to the market. but i guess you can extrapolate if they can't get this done, they might not be able to get that done given the very slim majority they have in the house. bigger majority in the senate. be that as it may, more evidence keeps building up that, you know, donald trump was left with a real mess by biden, from president biden, former president biden, as he took office. and you mentioned the budget deficit in this first month. remember, we ran out of fiscal year, i think it's october -- taylor: october 1.

>> so the last couple months of the biden presidency, which included the new fiscal year, the 2025 fiscal year, i had heard the rumblings that -- from the campaign, the trump campaign, that he was doing some sort of a spending blowout. they didn't really have the ed, they suspected it just by charting deficit growth and things of that nature, spending growth, stuff you could see in public filings. now that they're in there, the trump team, they're looking at the numbers, and they say it's real. they say that they believe that this budget, that biden essentially spent between $200 and as much as $320 billion extra than he needed to do. they believe it was, essentially, to goose the economy, essentially get kamala harris elected, goose the markets as well. they also will point to the fact that -- i'm forgetting all these names because it's almost yesterday's news, janet yellen,

the treasury secretary at the time, not the current one, did something really interesting with the debt where she was rolling over the short-term debt so you wouldn't see an impact on the 10-year bond that you would have saw if you had to sell bonds for this. it's where all the consumer rates are based off. taylor: yep. >> so i bounced this off some private analysts i know, i spoke with the people, bear traps reports, robert and larry mcdonald, people that have been on the show in the past, and they confirmed it. they've been crunching the numbers as well. this is real. there was a lot of spending at the end there that looked like spending for no other reason but to get her elected. again, listen, donald trump's the president, you know? you break it, you own it, so to speak. he's going to have to live or die on tariffs, things of that nature. markets are clearly skittish on tariffs. but make no mistake, the hole he needs to dig out of is pretty amazing. again, a $2 trillion, the 1.8-2

trillion deficit on average gdp growth of around 3% -- it have : unacceptable. >> yeah, usually you goat a gdp growth and taxes come n. taylor: budget deficit, come on. >> it's a reasonable -- if you want to spend a lot of money and be a normal human being spend ago lot of money, a reasonable budget deficit with that type of economy going with that and it's just double or triple that. we have cuts and donald trump leaves and tariffs are a way to pay down the deficit. i don't know if i agree with that. i'm not going to get in an argument about it either. that's what he believes and we'll see if that happens and this is a hole we need to dig out of and it's amazing and we

should also point out. we have a lot of cliches here. we're going to be in for some rough words here . taylor: we've got to go. charlie gasparino, appreciate your time and insights today and closing bell ringing less than 4 minutes away and markets now a little bit in the high and sitting at bottom of s&p 500 and cross hairs with them and going after the premier of ontario going after them and with the shelves and whiskey maker is a allegation a victim of eu retaliatory tariffs.

amazon, going and will meta today signing a pledge to triple global nuclear supply by 2050 and got nuclear stocks moving today and >> banking on ai revolution and today's count down closer has another ai quad and joining us now is investing insights founder jordan kimmel. jordan, great to have you. what's your ai play? >> most people don't know it and that's why i'm glad to show it to you. inod is a top ranked company and 35 years old and shot up like a

rocket about a month and a half ago and came back to give everybody that didn't get on board last time, and i'm on board and it's the number one small cap tech stock. >> you're not the first person and you're definitely not alone and talk to me about another top idea cloud flare. >> yeah, cloud flare and data is king and another good source in this industry right now and the big guys are the little g guys that are guys moving data pacts around and using net cloud fare and shot off like a rocket and excite.came back to get you and we're in the stock right now. taylor: 30 seconds and this market taps 5500 before

rebounding for them and it's going for them with choppy waters ahead going for these markets. >> could it go a little low instruct her yes, we want to re-lower the top ranked stocks and there's a lot of fear in the air. there's fear dominating and came back to the price and we don't want to switch horses and jump into slow moving value. we like the growth stocks, but we like them at our price and got the price here from stepping in. taylor: jordan kimmel, appreciate your time today. thank you. as you can see, the maker of bridges are mixed and dow down and s&p and nasdaq snapping two day losing streak. that's it for claman, kudlow is next. larry: hello, folks.

welcome lo