policy. now we can relax and enjoy our retirement as we had planned. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance. stuart: all right, it's 11:00 eastern time. it is thursday, april the 3rd, and stocks are selling off. trump's liberation day tariffs were announced, the market's having a very strong negative reaction. reactions from foreign leaders

rolling in to us. mexico's president, sheinbaum, says u.s. tariffs linked to fentanyl and migration could drop to 12% from 25% with greater collaboration. she says companies from countries affected by trump's tariffs could invest in mexico to take advantage of the usmca. chinese advisers say trade negotiations between china and the u.s. are likely to start soon, but a quick settlement looks difficult. and then there's this from french president macron, he's calling the tariffs a shock for international trade. he says u.s. tariffs may lead other countries in asia to boost their exports to europe. one more. canada's prime minister if carney says he spoke to german chancellor schultz thursday, today, that would be, and agreed to strengthen trade ties. all of that not helping the market. we've not seen any rebound from the lows at this point. we're still down 1500 for the dow, 9982 it is now for the -- 982 it is now for the nasdaq.

big tech, across the board those stock prices are down, significantly so. microsoft if is the smallest loser, it's down only 2.7%. alphabet, nvidia, apple, amazon all down much more than that. the yield on the 10-year treasury, i'm waiting to tell you that it's gone down to 4% or below. can't tell you that yet at this point. you're at 4.01, down 12 basis points. ken fisher joins me now. ken, put it right out there, who are the winners and the losers of these tariffs? who are they going to be? >> so the big winner -- and, first, thanks for having me, stuart, always -- the big winner is everything that's outside of america. the fact of the matter is you just look overnight, all -- ever since the election non-u.s. stocks have been doing better than the u.s. stocks. you look overnight at the reaction, and of course, you never sell in a panic, but fact of the matter is, simply, overseas markets have gone down

pretty much consistently less than american markets. some are actually up. stuart: are you onboard with the president's goal here -- this is in the a political question, it's an economic question. are you onboard with his goal of creating a new golden age and tariffs are his way of maneuvering us into that position? are you onboard with this? >> you asked two questions at once. one is about the goal, the other is about the tactics. you can lead a horse to water, but you can't make him think. and the fact of the matter is, as forrest gump would say, stupid is as stupid does. this is not good. the question for stocks is when it's worse than people think, better than people think or about the same. the fact is there's a bunch of ways this ball could bounce. i don't really know which way it will, but most of them heat lead to -- a lot of it's just impossible, stuart. it can't happen. government agency, the cbp, the subset of the cbp that collects tariffs doesn't have the capacity to collect these

tariffs. this is all going to just lead to negotiation which may go this way, may go that way. read what people are seeing overseas -- saying overseas. you said some of of that later. there's a lot of ways in this ball could bounce, but i think it'll probably bounce to the positive side because there'll be a lot of negotiation. just look at mexico, the stock market's up 5% today and doing better all year long than america has. been up all year long. stuart: okay. we'd like to get that market going because my big worry is stocks are down and they stay down. >> but you never sell in a a panic. you never, ever sell in a panic. stuart: right. and i'm not selling today. ken fisher, always a pleasure. thank you very much for being with us. >> thanks for having me. stuart: lauren's look at the movers, i want to start with wayfair. >> vietnam was a way many of these producers got around doing business with china, and now that 46% tariff is hurting the ones that are most exposed. this is the west, wayfair or is

down 27%. vf corp., north face, they're down 23%. abercrombie, they do 35% of their business in vietnam, lululemon does 40% made in vietnam, so is heir getting ratt right now. stuart: they're crushed, some of these stocks. lam western. oh, i i know in this story the. >> stock is up almost 7%. frozen potatoes. their turn-around strategy, quick story from you, and it comes from commerce if secretary howard lutnick, so mcdonald's is a major customer of lam westen, and in order -- a few years ago there was a trade deal with korea, and they were going to buy more of our products. but they said, no, you know, mcdonald's, we can't figure out the exact origin of the potato, so so no french fries -- [laughter] and howard lutnick told sean hannity last night in discussions with korea, okay,

french fries are okay for mcdonald's in korea, so there you go. that would be an example of a barrier, the french fry. stuart: on my prompter it says kroger's hitting a new high. >> it is. a safety play, i pose? people always have to -- i suppose? people always have to seat? i'd say a 4.55% gain is significant today. stuart: you got that right. all right, folks, now this. it was sunday, july the 21st, 2024. i was in a a restaurant eating a a late lunch. suddenly, my phone exploded. joe biden had withdrawn from the presidential race. whoa. on his official twitter account, he wrote in part, quote: i believe it is in the best interest of my party and the country for me to stand down, end quote. a after half hour later, on the same twitter account, he endorsed kamala harris to replace him. system of the details of how this extraordinary event actually happened are beginning to come out, but the real story,

this is my opinion, the real story is why on earth the democrats allowed biden to run for a second term. but run, he did. and it was all downhill. right from the start his campaign was dogged by stories of his mental and physical decline. you could see it in the videos, you could hear it in his voice. his close advisers circled the wagons and kept him away from the mediate -- media and the public. then came the june 27th, debate. in the book, "fight," the authors describe nancy pelosi watching alone and in shock at a his performance. the influential james clyburn needed a stiff drink. it was a five-alarm fire in the democrat party and the biden family too. by early july, some democrats were publicly calling for him the step aside. but still he held on. july 17th he tested positive for covid and moved to his beach house with jill and hunter biden in tow. the exit discussions began, and then july 21st the step-aside

tweet. the books detailing this story are now appearing, but the question stands, why did he run in the first place? and why did he take so -- did it take so long to get him to leave? responsibility rests with biden himself, his family and his long-term, chosest advisors. -- closest advisors. biden detested trump and believed he was the only one who could beat him. he was most unwilling to let someone else try. family members were naturally reluctant to accept his mental decline. they had to protect him. he was husband and father. if he stepped aside, it would be proof positive that his senility was real. his closest advisers didn't want the lose their power. they'd been calling a lot of the presidential shots, and they'd known joe biden for years, if not decades. didn't want to walk away from him. together the president, his family and his closest aides managed to, first, get him to run and, second, to keep him in

power until it became obvious there was no way he could be president for four more years. their silence created the catastrophe the democrats have yet to recover. joe concha joining me now. he knows all about this. how can voters trust the democrats that tried is hard to hide biden's decline? >> never again, stu, quite frankly. this is one of the biggest cover-ups if not the biggest cover-up in american political history. you were at a restaurant, i have a feeling i know which one -- [laughter] i was just walking onto the beach, stu, for my first vacation of the year when the phone blew up around 2:00 in the afternoon. i'm like, oh, you've got to be kidding me. but, look, i'm sorry, this rewriting of history is officially and9 patently insulting. i don't want to read books about a nancy pelosi and jim clyburn being shocked about the debate performance on june 27th. i was covering it and, quite frankly, i wasn't remetly shocked at all from what i -- remotely shocked9 at all.

if you were sober and sane over the last four years of the biden presidency going all the way back with, in fact, to the 2020 campaign, you knew that the elevator wasn't going to the penthouse anymore, that his cognitive decline was there in plain and broad daylight. there were countless videos of joe biden shaking hands with the air a or not knowing how to get off a teenage after a being this politics -- a stage after being in politics, he'd wander offer during photo shoot, and he said he'd had conversations with world leaders who had literally been dead for the years. so i don't want to hear about this sudden epiphany that maybe, just maybe, journalistses and democrats just didn't see this coming. it was there for all of us to see, and this whole now, oh, boy, if we only knew. you knew, because people like ron klain, hunter biden or jill biden wants the power that went along with the presidency, and that's why they covered it up, for their own self-interests. stuart: it's one of the most extraordinary stories in

american politics. joe concha, you got it right. thanks for joining us. we always appreciate it. >> thank you, stu. stuart: by the way, it was mulligans in hoboken, that's where i was. coming up, senate republicans releasing a budget blueprint with new tax cuts. treasury secretary scott bessent is confident they have the votes to pass it. >> i think it is the remarkable unity president trump has gotten between the house and the senate. we are moving ahead at a very brisk pace on this tax bill. stuart: okay. but i want to know what's in the tax deal. americans for tax reform president grover norquist is all over it, and he's going to tell us. we're keeping a close eye on the market, of course. we'll continue coverage of reaction to the tariffs throughout the program. we will be back. ♪

stuart: we're going even further south -- well, actually, i take that back, we're only down 1400 points on the dow, or only down 940 points on the nasdaq. had been much worse than that previously, but we're down across the board. reaction. brazil's president reacting morning to the tariffs. he says he will defend multilateralism and free trade and will take all measures to defend brazilian products and workers. that's what he says. take a look at big pharma stocks. some of them are on the upside today because president trump spared pharmaceutical products from his wide-ranging tariffs. how about that? a couple of them are hire. jeff sica joining me on the phone. all right, jeff, this is the mother of all a dips. i mean, we're way, way down. are you buying anything? >> well, stuart, i mean, at this

point my major concern, obviously to -- obviously, is that lot of the companies in the s&p 500, as a matter of fact the majority of s&p 500 companies, generate around 40% of their revenue outside of the u.s. and what we're seeing now is that some of the uncertainty around the tariffs have put us into the abyss as far as understanding what to buy. now, one thing i'm very focused on and i do think it's important that investors embrace the chaos when we have selloffs like this, investors tend to sell good stocks, bad stocks, every stock. and i think one area that i'm very focused on now primarily because we're seeing treasury yields, the 10-year treasury yields declining, is the area rah of real estate -- the area of real estate investment trust,

reits. i am in the real estate private equity business, so my opinion is always if you can't why the -- buy the dirt, buy the paper, buy the r are eit. -- reit. so in this case you could to buy an exchange-traded fund that has a yield upwards of 3% which is getting towards where the 10-year treasury is with some upside, and there's very little exposure to the overseas markets. because at this point -- and also a, of course, stuart, i've made this call on gold. i think gold is surging for a reason. i think it's going to continue to surge. i think we're going to hit that $3500 price target because people are looking for a safe haven in this day can gross. stuart: okay. -- in this chaos.

you're right, jeff. the yield on the 10-year treasury is right at 4%. way downed today. jeff sica, thanks for jumping on the phone so quickly for us. we always appreciate it, thank you. let's get back to president trump's liberation day tariffs. he called it an economic declaration of independence. trump's getting a lot of pushback. peter doocy, how's the white house responding? >> reporter: well, stu, there are tvs all over the west wing. officials there inside know that the markets are crashing, but they are claiming to us that because so much money has been invested in the united states since president trump came back to office that things are going to start turning around a as soon as closing time today. >> people are going to start building factories right now, and that means all that construction work begins now. that starts to employ americans today. you're going to see plants being built, factories rebuilding, all

shifts are going to be running hot across america now. you're going to see employment leaping starting today. >> reporter: president trump says the operation is over, the patient lived and is healing. the position know sis is that the patient will be -- prognosis is that the patient will be bigger, better and more resilient than ever before, make america great again, but democrats are struggling to see any sunny the side in any of this. >> i don't know what what he's liberating the american people. he ran on making america affordable again. there are millions of americans who voted for donald trump believing he would actually reduce prices. he has gone availably raised -- demonstrably raised prices on virtually everything. because we are part of a globally-connected world and economy. >> reporter: if president trump is going to weigh in further on this, and we would love to hear him talk about whether or not the decline in the market today is in line with what he expected, the next chance to see him is going to be

on his way out to marine one. he's going to florida for a liv governor event. stu. stuart: i'm sure he'll say something -- [laughter] and you'll be right there in the pack. >> reporter: oh, yeah. stuart: peter doocy, see you soon. senate republicans just released a new budget blueprint. it paves the way for $1.5 trillion worth of new tax cuts over and -- over and on top of of the extension of president trump's tax cuts. grover norquist is the president of americans for tax reform and joins me now. grover, i want to know what's in that extra $1.5 trillion worth of new tax cuts. is it no tax on tips? is it no tax on social security benefits? what's in that $1.5 trillion? >> well, it will certainly include no tax on tips and, hopefully, that will include not just employees who get tips, but also independent contractors. who get tips, uber and others like that.

some of that $1.5 trillion in additional cuts are to recoup some of the trump tax cuts that began to fade. remember, they started to phase out already, the faster depreciation, the 100% expensing for business investment. that costs willing, and so that'll be -- costs something, and so that'll be part of the $1.5 trillion in additional cuts in taxes. there is a strong the discussion house, senate and the white house, i think a consensus perhaps, to include buildings, to include manufacturing buildings in the expensing. right now many expensing is for equipment, but 100% expensing for the buildings, new building for manufacturing, perhaps for other buildings as well. so we're largely going to see the trump tax cut as a originally written extended out permanently. i don't mean another ten years, but permanently, out into infinity, which you can do

because of the senate's decision to go off, base what it's building from on current policy, not current law. which means you don't have to pay again, a second time, for extending the trump tax cuts. stuart: grover, i wonder if you saw this, democrat senator tim kaine, he claimed, claimed that president trump inherited, quote, one of the strongest economies in the world. watch this. >> not since last night, yeah. i mean, we have to go to the house and talk to them about it. but, you know, it's, it's a scary, scary prospect right now. president trump had one of the strongest economies in the world when he was inaugurated on january 21. and look what what he's done. it's just taken him two months, look what he's done. stuart: okay -- [laughter] you're laughing. have at it. >> well, the united states' economy is always the strongest economy in the world because it's the biggest and the most prosperous. but -- [laughter] compared to what?

when it was clear that trump was going to be president and all of the spending programs and all of the tax goals of biden were not going to continue, that's when the stock market started to go up again and you saw some strength there. so, no, i think people are -- the economy is better off a today than when biden walked out the door. but he did not give the president a strong economy. he gave him an economy that was going to be spending massive amounts of money into the future. and as doge has pointed out, a federal budge which was used to fund left-wing purposes, not actually the services that they claimed they were spending the money for. so big change, big improvements, and doge is part of picking out some of the rot. stuart: you got it. grover norquist, measure to have you back on the show again --

pleasure to have you back on the show. >> good to be with you. stuart: you got it. coming up, newly-elected florida congressman jimmy patronis has pledged to put america first. >> we've got an opportunity of a lifetime to fix this country. so our children grow up in a nation that's safe and full of opportunities. stuart: all right. patronis will be here shortly to lay out his plans to make america wealthy again. vice president vance says trump is delivering on his promise to overhaul the economy. >> joe biden left us -- this is not an exaggeration -- with the largest peacetime debt and deficit in the history of the united states of america. president trump is taking this economy in a different direction. he ran on, that he promised it can and now he's delivering. stuart: allies and adversaries are weighing their response to these new tariffs. we're all over it and we will be back. ♪ the

it's a smart move to get a second opinion. you do it when you're looking for a contractor. you definitely do it with medical advice. so why not with your stock market investments? we can help you see opportunities you may be missing. at hennion & walsh it only takes a second to schedule your free second opinion. so what's there to lose? speak to hennion & walsh. the second opinion people. stuart: all right. we're checking the markets and now for the dow we had been down 1500, now we're down 1400. the nasdaq had been down 1000, now it's down 9000. connect out bitcoin, it has

dropped below $82,000, yeah, you're at 8ing 1,6. i want to bring in ryan payne. he's on the phone for used the. you're of the mind that these tariffs will be negotiated down throughout the year. take me through that. >> well, i think, first off a, if you look at liberation day, the only thing that we're liberating here, stuart, were the bears. [laughter] it doesn't feel very good right now with all the a selling, and, you know, i would have expected, i think i was on your show earlier this week, and i actually thought we would have had some sort of push upwards after the tariffs. but they are more painful, no pun intended, my last name, than was intended. and it looks like there has to be some sort of negotiating tactic because we just don't make that much stuff here in the u.s., right? stuart: but if this goes on, you're talking about tariffs negotiated down throughout the year, that's a long time. are we going to have to live with the stock market that stays down at these levels for the rest of the year? >> well, i think, first off a, it's a knee-jerk reaction,

right? markets hate uncertainty. we have a lot of uncertainty right now. but there's also some counter-trends as well. if you look at oil price, they've come down to, like, $66 a barrel. if you think about that, that's almost a tax break for the global consumer, you know, that does reduce your input costs. interest rates have come down the around 4.1% right now, so that means mortgage rates are coming down from a borrowing perspective. that helps alleviate some of the higher costs on tariffs. i think it's a little more complicated than just the myopic view of tariffs right now. and if you look at the markets, if you take the magnificent seven out of the s&p 500, you're only down about 3, 4% for the year even withed the's selloff. so there is an overconcentration right now where the selling is, and that's this all those hot places like a.i., mag 7, bitcoin, you just mentioned. so i think as an investor right now, you've really got to look at where are the bargains. this is where the opportunity is. and i would urge, because i see

this every week with all the a client portfolios i review, there's such an overconcentration in those stocks, rediversify your money. take some tax losses if you can, but there's going to be plenty of places to put your money. i mentioned the foreign markets on your show last week. you've got to take advantage of the fact that you've got a lot of places you can allocate capital. and at some point you are going to get a recovery k and your going to wish you took advantage of this selloff. stuart: all right, i'll trust you on that. thanks very much, ryan payne. lauren, you're looking at movers. the retailers were sharply low lower, and they're still sharply lower. >> all a greater than 15%. ralph lauren, deckers, williams-sonoma, best buy, they are among the biggest decliners on the s&p 500. supply chain exposure to southeast asia. not just china, but also southeast asia hit by these reciprocal tariffs. wanted to tell you this for best buy, they were downgraded at citi, consumer electronics is a big ticket category and if the

economy slow, they will especially see weakness. stuart: how about target? >> a 5-year low for shares, down 10, 11%. 93 and change would be the 5-year low, so it's recovering a bit, i suppose. here's your exposure, 60% is china, 3% indonesia and3 for cambodia. stuart: got it. lauren, thank you. newly-elected florida congressman jimmy patronis and randy fine, they, both of them, have been officially sworn in to congress. jimmy patronis joins me now. you want to make america wealthy again. okay, sir, you're the follower cfo of florida. what -- former cfo of florida. what's your take on tariffs in. >> well, i think what president trump is doing is simply a very public negotiation. this is what he does. but i know this being in the restaurant the business my whole entire life, daddy used to say if you want the get somebody's attention, you get into their pocketbook. and the one thing i learned is

when you run specials, you get special people. we have been in an environment right now where the united states has been servicing and fixing and constructing everybody el in the world. -- else in the world. it's time to put that investment from everybody else back into the american worker. stuart: trouble is, it takes a lot of time to put all the money that is flowing into america, i got it, it takes a lot of time to build with factories. you're looking at two, three, four, five years. so this problem is not going to be solved in the short term, is it? is. >> i agree with you. look, i think infrastructure does take time. but what you're going to see is you're going to to see movement, you're going to see information, you're going to see decisions, you're going to see commitment. and those are the things that are going the give the type of comfort and investment of the feature -- future of what's going to happen in america because we actually have somebody in the white house that can negotiate a multibillion dollar deal. we haven't had this in years. stuart: are you going to join the doge caucus? it does exist, of course, in the house.

but i -- i mean, there's some speculation that musk, the doge guy, he may be on his way out eventually. what do you say? >> well, look, i think what doge has done has been important. i'm a big transparency bay. look, if everything is transparent, then the public gets to truly see the decisions that government is making. ask then those that feel like these ridiculous investments are worthwhile, ten they have to defend them. -- then they have to defend them. i appreciate what elon musk has done. i don't know how long he wants to do it for. he has a lot on his plate and being a free if, full-time consultant to the united states government has been appreciated, but i wouldn't blame him if he wants to take care of the companies he has brought to such an incredible level of interest, intellect and service. stuart: got it. congressman patronis, thanks very much for joining us. we appreciate it. >> thanks for having me. stuart: president trump says he has a solution for those complaining about tariffs. >> well, if they complain, if you want your tariff rate to be

zero, then you build your product right here in america because there is no tariff if you build your plant, your product in america. [applause] stuart: well, as we've been showing yule morning, the market is reacting -- showing you all morning, the market is reacting negatively to the tariff announcement. our coverage of that continues. ♪ if. ♪ this special passover holy day is of urgent importance. this is our last chance to help save thousands of

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stuart: you know, when the nasdaq's close to 1,000 points, you would expect big tech to be selling off, and it is. microsoft is the smallest loser. is that the right way to put it? it's only down 2%. everybody else is down a lot more. apple's down 8 percent. alphabet, 3. amazon, 7%. meta, 6%. microsoft only down 2% at 374. kenny polcari, come on in. you're on the phone. i want to know, are you buying anything today? and if is, tell me what

you're -- if so, tell me what you're buying. >> on a day like today, i'm not, okay in and i would suggest that we're not. there's a lot of anxiety, a lot of nervousness. i typically, after something like this happens, you let the market settle in for two or three days. find its rhythm again. you've got to kind of let it happen. that doesn't mean if there aren't obvious names that are being really, really mispriced and dislocated, that you wouldn't jump in and buy. you just named some of the names down 6, 7 and 8% on top of what they're already down would put them in an interesting position. but to answer your question, today i'm not. today i'm going to let it happen, i'm going to watch it. i'm going to see where the damage is and what the tone is. stuart: we've really just got to wait on negotiations in -- developments in these negotiations which are clearly ongoing. >> correct. stuart: if you get something positiven these tariffs, right? >> that's right. there will absolutely be

something positive if you get any kind of signaling of countries that want to come to the table, and there are already are some countries that have signaled that's exactly what they wanted to do. the u.k., canada, mexico, israel, australia. those are all names of countries that have said, look, let's sit down and have this conversation. wheel -- while it's a little unnerving and unsettling, i do think that will be what happens. it will happen over, i think, a short period of time. stuart: got it. kenny polcari, we'll see if you buy anything tomorrow. >> bye-bye. stuart: good luck. "the big money show" comes up at noon -- and what did you say? okay. there you are. taylor. "the big money show" cohost, taylor riggs -- [laughter] what have you got on your show? taylor: oh, boy, stu. i mean, fortunately, we have charles payne and larry kudlow. we are going through all the different angles of these tariffs, right in the markets, what does it mean for the retailers, for the pharmaceuticals, what does it mean for if your pocketbook,

what does it mean for system of the footwear workers. you name it, we've got two special, esteem teemed guests. stuart thank you, taylor. the trump administration hut down reports that elon musk will leave doge in the next few weeks. jacqui heinrich, what did the president say about this? >> reporter: the white house is calling that report fake news, especially the lines that implied that this impending departure would be a response the musk becoming a political liability. politico had called this a reversal from a month ago when unnamed white house sources were saying things that sounded like musk would be here for the long haul, potentially forever. but musk if told us himself in that interview just last month with brett bret baier -- breath9 baer that he didn't think he'd need to stay on as a special government employee. >> i think we will accomplish most of the work within that

time frame. we are cutting the waste and fraud in real thame. so every day that passes, our goal is to reduce the waste and fraud by $4 billion a day every day, seven days a week x receiver we are succeeding. >> reporter: president trump exe -- echoed the same the oval office adding that musk runs a big company that he might need to get back to at some point. the president, of course, welcomed musk to stay on as long as he can, and this morning the vice president, j.d. vance, did reveal one new thing. >> the work of elon is not even close the done. you look at all of the fraudulent grants that that they've found, that work's going to continue after elon leaves. people don't realize how vast and uncontrolled the bureaucracy was. we've started to chip away at it, but there's a lot of work to do. it's not going to happen all this six months. it's going to take a long and committed effort. >> reporter: so vance said doge's project will take about six months, the bulk of it, but that elon musk will stay on as

an adviser after his term as a special government employee is up, stuart. stuart: so he's still in there. thanks very much, indeed. throughout the show we take a looked at a different sectors of the market to see how the tariffs have affected those sectors. right now we're looking at the autos. they're all down across the board including tesla which is down nearly 6%. this just coming in to us. prime minister of canada, carney, he says canada will impose 25% tariffs on all vehicles imported from the united states. that are not compliant with the usmca trade deal. canada will develop a framework for auto producers to avoid our countertariffs as long as they maintain their production and investment in canada. that's a harsh response. it's not negotiating tariffs down. ashley, come back in, please. a 25% tariff on all foreign cars. how are the car companies responding to that? >> not well really. the german automotive industry

association says the tariffs would, quote, only create losers and urged the e.i. to react -- e.u. to react with necessary force. voces weighen tearily stopping rail shipments from mexico. meantime, asian a automakers are going to get hit hard as well. they make up 6 of the top 8 automakers in the u.s. by sales volume. analysts say an imported car worth 40,000 will be hit with a $10,000 tax a part of which, yes, will be passed on to consumers. now, at the same time as all of this is beginning on the, ford just announced a special discounter for customers. listen. >> for the next couple of months, we're going to offer our customers the same deal that you are to employees get. and as you say that's worth thousands of dollars, we've heard some uncertainty from our customers, and we want them to be assured that ford, the most american auto company, is going

to do right by them. we're focused on united states with, our major market, our home market, our hometown, and we're going to offer a our u.s. customers a really great opportunity. we don't have to charge more on cars today. like i say, we have, you know, we have a pretty good stock, and it's that savings that we're going to pass on. you know, the dust is going to settle on the thing, no doubt, over the next few months and beyond. >> so ford giving an employee discount. the trump administration, we should also note, expects the roll out tariffs on auto part imports. that means it's going to cost more to produce cars even at u.s. auto plants. why? well, every domestic vehicle contains imported parts. stu. stuart: yes, it does. thank you, ashley. it's that time when we show you all 30 of the dow stocks, and you might have expected this, a repond answer of red. but i do see -- preponderance of are red. i do see 8 on the upside, eking out a small gain. dow's off 1,360 points.

president trump says tariffs are going to be good for america's farmers. virginia farmer ask national black farmers' association president john boyd jr., he's going to respond to that. he's next. ♪

stuart: we're still deeply in the red. dow's off 1400, nasdaq's down 900, big selloff. this just coming at us, the director general of the world trade organization closely monitoring the tariffs announced by trump, she says they will have substantial implications for growth prospects. canada will impose if 25% tariffs on all vehicles not compliant with the usmca trade deal. again, not a positive statement. for the markets, at least. meanwhile, president trump says his reciprocal tariffs will actually help american farmers. roll it. >> with today's actions, we're also standing up for our great farmers and ranchers who are brutalized by nations all over the world, brutalized. [applause] canada, by the way, imposes a 250-300% tariff the on many of our dairy products. they do the first, the first can of milk, they do the first little carton of milk at very

low price, but after that it gets bad, and then the it gets up to 275, 300. it's not a pretty picture, and we don't like it and it's not fair. it's not fair to our farmers or to our country. stuart: virginia farmer john boyd jr. joins me now. welcome back to the program. you are a farmer. how do these tariffs help you? >> well, i've been farming for 42 years, and thank you for having me. and i've never seen anything like this. we're getting calls from farmers from around the country who are afraid to plant their crops, there's too much uncertainty. all the markets are down today for commodities that i raise, corner, wheat and soybeans are all down. i just spoke to my local grain elevator, and we're going to be selling in the coming weeks dun to $4.900. the president's tariffs is causing halve having for if america's farmers in this country -- causing havoc, and i

would love to sit down and have a discussion with him on how it's affecting members right no- stuart: well, listen, the agriculture secretary, brooke rollins, says the agency -- they are ready to bail out farmers hurt by the tariff backlash. how much money do you want? >> the problem there is, and thank you for that question, usda a, the administration has announced that they're going to be closing offices, that these farmers rely to go into to apply for if these services that the secretary said is going to be helpful. closing offices right now is the wrong announcement to make. farmers need emergency loans right now. i don't have a farm operating loan in place because lenders are nervous about the low commodity prices. farmers need emergency loans right now, and they need to release the $10 billion and make it a streamlined process for america's farmers and not a

lengthy process and a long process for america's farmers. so farmers are hurting. farmers are hurting, and i hope the president doesn't continue with the tariffs. i think it's bad news and bad timing for america's farmers right here at planting season. stuart: you're not a happy guy, john boyd jr -- [laughter] >> well, you know, i've been around 42 years, and there are are some happy times. i have some great years. i used to sell soybeans for $16.80 a bushel, and the price hasn't been is tame since. -- the same since. but we need for banks that are watching us to reach out and support us, and we need for agricultural companies to come out and partner with america's farmers right now. we'll -- don't sit here and ignore it, but reach out and see how you can partner with us to help us at this troubling time. stuart: john boyd jr., we received your message. thanks very much for joining us come back soon. >> thank you very much.

stuart: sure thing. now let's really change the subject, shall we? here's the there live ya question. how many nba a team names are not plural? one, two, three or four? we do have an answer. and you'll get it after this. ♪ ♪ ..

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stuart: here we go, we asked how many nba names are not plural. ashley, you are first, you're a sports guy. ashley: i was going to go with three, then irene never the utah jazz. it's four. >> i can name three and there's another i don't know. stuart: you go with four? me too. ashley knows what he is talking about. the orlando magic -- oklahoma city thunder. a last look at the markets, a selloff, the dow is down 1300 points. time is up for this program. "the big money show" starts now.