if we are nearing a correction on the s&p 500 which i think another 100 or 200 points would do that, that's one story. if you go another 10% below that what is the president's tolerance? this is an economy that is pivoting back to the very healthy private sector, one that is very much needed to. >> martha: we've had so much of the money in the country tied up in government spending and government growth and he wants it to go back towards the private sector and we are seeing those gyrations today for sure. thank you, so great to have you with us today. that is the story for this monday march 10th. rough story in the market but will next see you back here tomorrow and things will be better. will cain get started right about now. ♪ ♪

>> will: live from texas, this is the will cain show. with the big story right now, the scene on wall street to. the dow jones selling off big time today. at one point down over 1,000 points. hears of the markets are closing right now. it is a day of turmoil. many of it, much of it attributed to panic, also uncertainty over what will be the effect of tariffs on a nationwide economy. taylor riggs the host of the big monday show -- the big money showed just now with martha maccallum described it as taking a patient often ventilator, it takes a while to reduce government spending and expected an economy to recover. the analogy that is always worked for me is a drug addict. one who perhaps addicted to heroin. once they are pulled off that drug they often struggle for life and sometimes have to take methadone to help them reach a level of health. our economy has been addicted to

government spending. the withdrawal of that government spending can send the patient, our economy into a health crisis. ultimately it has to withdraw to once again get healthy. that seems to have largely been understood by president trump who has been warning about the possibility of a recession. >> reporter: are you expecting a recession this year? >> i hate to predict things like that. there is a period of transition because what we are doing is very big. we are bringing wealth back to america, that's a big thing. there are always periods -- it takes a little time. it takes a little time. i think it should be great for us, i think it's going to be great to. >> all of this uncertainty comes on the heels of the buzzword we have been hearing -- tariffs. right now president trump is meeting with tech leaders on how they could be affected. we are going to dive deep on

tariffs. why president trump is so interested in tariffs and the impact they have had in the past on the economy in america. here today are some of the products that have had tariffs imposed. some of which resides in the tech sector. solar panels, steel, aluminum, chinese electronics, telecommunication equipment, printed circuit boards. computer memory modules or processors. it seems there's about three rationales given by the trump administration for the imposition of tariffs. one is for fairness, that we have been subject to tariffs from various countries across the world and it's not been a fair. let's take a look at what the average tariffs on imports are across the world. on average india imposes a 70% tariff on imports, south korea 13%, china seven half percent. you can see mexico, canada, and the u.k. lowest among those the eyed

states with a general average tariffs of 3.3% to. i want to look into some of these products where a tariff tax is imposed but not in reverse. in india america products like motorcycles and almonds are subjected to tariffs. and china soybeans, pork, and cars. e.u. beef and dairy products. ethanol and agricultural goods, automobiles without us reciprocal tariff coming from the united states. i mentioned there are three rationales, one is fairness, the other is taxes, can we move our taxes away from an income tax to a more heavily burdened and external revenue source like tariffs. and then there's the social rationale, can we bring jobs home to america? can all this be done without sending the american economy into a tailspin? let's talk about that with

economist peter. what do you think about what's going on the market today and is it a short-term effect? we have to keep our eye on it. president trump has warned of a recession but what do you think about it and its relationship to tariffs? >> that's what wall street has been emphasizing, recession risks. they have been pegging it with tariffs, i think the much bigger impact as the cuts in government spending. what we are finding out with doge is the swamp is much deeper than we imagined. the scope for cuts is much higher. if you add up not just government workers but you also add in contractors -- all this u.s. aid money, all the money going out to ngos, you're talking probably something around 5 million jobs. if they make significant cuts in those it's going to make us rich as a country but it's absolutely going to hit gdp. remember, gdp counts government spending. if we reduce waste it actually

shows up it potentially shows up as a recession. what is impressive about what trump is doing right now, he is leaning into it. he's saying yes, we might get a recession that we are making investments for now. the exact phrase he used was no pain, no gain. it is rare for a politician to be that brave but he does like big bets. >> will: do you like the analogy i offered up a bit earlier that reducing government spending and gdp's reliance on government spending to inflate how we are all living reducing that is a little bit like taking a drug addict off their drug of choice -- there is going to be -- they often get very sick, sometimes i have to go to the hospital when they no longer take heroin. for the long-term health of that patient they have to go through that sickness. our economy has been addicted to government spending and this is the sickness we have to go through. >> you are 100% spot on with that.

during biden, the jobs created 70% of those other government workers or social assistant, what wall street calls the welfare industrial complex, none of those are growing the economy, a lot of them went to people who want even american. trump's first job report that came out a couple of days ago, we are back to 93% of job creation in the private sector, it's how it's supposed to work where we have government, the referee keeping things clean but the government should not be the main source of economic growth. we've already seen that happened in the european union, where they are perennially right on the edge of recession because the government has effectively taken over the economy, that's what was happening under biden. we need to go through detox at this point to wean the economy off the government spending which is bankrupting us to get back to actual growth. trump's agenda is aimed directly at bats.

taxes, deregulation, tariffs that may lead to short-term pain but actually bring companies back to the u.s. everything he's doing is right for long-term growth, the question is it's a horse race between reducing government spending and having the private sector come and pick up the slack. all of that takes time. it takes time to start a business to hire new people to expand the factory. it's very likely we are going to get that short-term pain for a long term gain. >> will: back to tariffs. i interviewed anthony promptly on the will cain digital show what he told me he looked back at the first-term administration of president trump and the tariffs that were imposed during the first term and he analyzed both the inflationary effect and what it meant for jobs, watch. >> taking a look in 2018, trump already ran this experiment. he dropped the federal income

tax from 39.6% to 37% and a simultaneous that he and lamented tariffs on washing machines, solar panels and steel. washing machines, to go different korean magnet fractures came and built a plant to the united states. it created 2,000 american jobs. we started producing more washing machines in the united states, prices fell. >> will: is that a model for what can happen with many of these tariffs? we see both jobs come back and prices come down? the timeline he gave in the first administration was a couple of months of turmoil, then we saw the benefits. >> i think the key with the tariffs in general is are you making it attractive to produce in your country? many countries like brazil or countries in africa they put on big tariffs but they do not make it attractive for businesses to operate there. if you do that than they are very self-destructive. a lot of the economies have tariffs if you think about places like that. if you do make it attractive to

produce in your country that gives you an outcome more like korea or japan did where they had huge tariff barriers, nontariff barriers as well. they basically shut out imports and it was incredible for them. the reason is because they had low taxes, low regulations, they had reasonable mandates on companies. trump is 100% trying to get to that a lot of economists are thinking he's good to put in tariffs like africa -- she's putting them in more like these east miracle economies. >> will: great to talk to you, thank you so much. coming up, a top advisor is sounding the alarm on the flow of drugs over america's borders. from the south but also from the north. dhs secretary kristi noem joins us. i want to bring you something that came up today on my digital show that is been getting a lot of attention.

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♪ ♪ >> will: welcome back. let's get the sum of the top stories of the day you may have missed. we have the great kevin corke to let us know what else is happening. >> always great to see you i know usually we get the chance back in the day to do a weekend at fox and friends, congrats on the big show and great to be with you. the clock is ticking for the trump administration to make

outstanding foreign payments to usaid partners. you probably know this if you're watching at home -- a federal judge given the administration a deadline. 6:00 p.m. eastern tonight to pay a portion of the $2 billion owed to. meanwhile the trump administration and doge initially feels that foreign aid as the two continue to fight to cut federal spending will next see how that plays out. over to friday's jobs report you heard will talking about moments ago the bureau of labor statistics reporting that the economy added weight for it -- 151,000 jobs in february. when you dig in farther than the headlines, you really find something important to. the story here -- that's for the heritage foundation found -- the first time in 15 months -- annual job growth among native born americans exceeded that of foreign-born workers. when it comes to the border. >> that's big, that's huge.

that is the point of an economy to grow jobs for people that live in america, not for people who might move to america, it's a supplementary side of the economy. native born job growth, good to. >> that's with the president is trying to do. he talks about bring jobs back and so your neighbors and my neighbors can have a family, have a home, have a job and that's a good thing. and finally, when it comes to the border, one democratic lawmaker from i had to break it to you -- she's from your home state of texas, she has a message for illegal border crossers, listen to this. >> they continue to say things like "to the illegals. and they broke the law coming in but what they are not telling the american people is it is a civil violation, it is not a criminal violation to enter the country illegally. it's not a crime. which is why they are so frustrated because they really want our local law enforcement

to go out and round up people when they could be looking out for the murderers and the abusers as well as the robbers. they want them to go round people up on civil accusations. >> you want to law school, she went to law school. she has to know that if you break the law, that's a crime. it's literally in the u.s. criminal code, to enter the country illegally, no matter how many times you say it doesn't make it so. always great, thank you so much. now on to this, tariffs are top of mind when it comes to canada and mexico. but top economic advisor kevin hassett says the u.s. isn't launching a trade war but something much bigger. >> what happened was we launched a drug war, not a trade war and it was part of a negotiation against canada and mexico to stop shipping fentanyl across

our borders. as we've watched them make progress on the drug war, then we have relaxed at some of the tariffs that we have put on them because they are making pro progress. that drug war is something that's been going on since the beginning of the trump administration. >> will: is not a trade war is a drug war. will the threat of tariffs pushed those neighbors to the south and the north do more to stop the flow of fentanyl and other drugs into the country? kristi noem the u.s. department of homeland security secretary joins me now. great to see you, madam secretary, let's talk about that. drugs coming from specifically i'm curious about canada. we often hear about it from mexico, these tariffs were not just on mexico they were also on canada. what type of drug flow are we actually seen from canada? >> we still do have issues with canada and they have been making some progress on their actions in partnering with us to address what we see with this poison coming into our country.

they have appointed a fentanyl czar that will focus on this issue but we are asking for more opportunities to partner with them on technology at the bo border, screening of individuals and shipments across the border and we want access to their criminal background investigation and information people that cross that border. are they criminals, what have they done in the past? are they trafficking drugs and what can we do to stop them before the coming of the country and sell it off and distributed to the rest of the population. canada in the past has talked about partnering with us but we have seen very little action as far as substance and that's what we are looking for in order to get relief. >> will: talking about to go ice employees, you announced you found to go ice employees leaking information about incoming dhs rates on illegal immigrants, criminal illegal immigrants. there's also the news that you announced and you think it's already begun, polygraph testing people with an ice within

various departments of dhs. were these individuals you found leaking information? did you find them through the process of administering polygraphs? >> i won't talk about each specific case but what i will tell you is we have been utilizing polygraphs for three weeks now and we do have two dhs employees that are on administrative leave and they are going to be facing consequences for what they have done to leak these operations. they could face up to ten years in federal prison for what they have done. what they have done is by leaking the information on these operations, they put law enforcement lives in jeopardy. we have a lot of tools, i have a lot of authorities under dhs and could use everything a one of them to stop these leakers and make sure they faced significant consequences for what they are doing, they are jeopardizing our national security, they are hurting the lives of people who are just trying to enforce the law. i'm thankful we've talked about these but i have several more that we have revealed here soon.

i hope they are an example to everyone else that president trump is enforcing the law, we have a present who cares with the laws are in this country and he is going to enforce them and he's giving us the tools to make sure we can follow through on it and people face consequences who break the law. >> will: quickly as a couple of follow-ups, how many more do you expect he will announce have been looking these plans? >> we have two or three more within the next week we will be able to announce. but these are all cases and they are criminal cases. we are working through how our processes work with employees within the department of homeland security. i think every cabinet member is being very aggressive on this. in the department of homeland security this is a life or death thing they are doing by jeopardizing these operations out there on the ground. not just the ice individuals, we partner every day with other agencies, the fbi, department of

justice, local law enforcement, state law enforcement, they are jeopardizing all those individuals when they go out there and compromise this information. >> will: really quickly, i know you don't want to share the names and he did want to share how used polygraphs to process -- is there anything you can share about commonalities between these leakers -- what drives them? are they ideologues do they believe in illegal immigration, why are they doing this? >> bureaucrats and they don't like integrity in our government system. they want to the status quo. they don't believe and support president trump and what he's doing to make america safe again. that's one of the reasons why what they are doing has so clouded their judgment, they don't recognize every single day, they don't necessarily grasp of the severity of what they are doing. they are putting people's lives in danger because they have a dislike for president trump is

doing. but they like things to stay the way they are with no accountability and we are holding them accountable. >> will: she's going to stick around we're going to ask about cartels spying on our border agents and how to stop it. coming up, more with secretary kristi noem.

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♪ ♪ >> will: a new report shows mexican drug cartels are using drones to track the movement of our border patrol agents every single day. let's bring back dhs secretary kristi noem. they are flying drones from what i understand -- cartel members from the mexican side to surveilled the border i assume to see where you are deploying assets and they can engineer work to funnel human trafficking or drugs. what can be done, what can you do? can you shoot these drones down, how do you stop this? >> we are exploring all the opportunities that we have.

we are using the drones to a spot where officers are, where we have assets and resources and diverting the activities to different locations. we are doubling down on the amount of people and agents that we have there. what we can do in defensive measures to counteract what we e doing and also using our own technology in ways to interdict other drones and shut them down and potentially take control of them and land them ourselves. we'll use all of those opportunities to make sure we are on top of it but that's one thing i think the american public needs to realize and everyone needs to grasp a hold of. technology isn't just on the good guys inside, the bad guys are using it too. once they use drones to identify where resources are, we look at other ways they may be able to use drones. with a weaponize them, with the use them in partnership with other organizations? my concern has always been we don't just have the cartels operating in a much more

sophisticated manner, they are also building partnerships with other enemies of the united states of america. we see them partnering with chinese individuals and laundering money. people who hate america will partner together in order to do damage to us and infiltrate our country too. >> will: you bring up technology but of course you're than other states government, you have technology to take control of their drones and land them wherever you may like. you don't shoot them down with a 12 gauge the way i might've imagined that. >> not yet. >> will: i have spoken too many members and former members of the drug cartels, the military is integrated in so many different ways in the cartels. their technological capabilities are really high. we talk a lot about these drones, what are the technologies are they employing if not from their own military like you point out but the help of the chinese military perhaps? what are they doing that we aren't even aware of that would blow our minds in terms of how

sophisticated? >> one thing we need to remember, it's not the mexican military is free of corruption first of all. we have elements of the mexican military department of defense it is partnering with cartels. we see them using apps and how they process and facilitate people, human trafficking, drug trafficking, also exchange of money. how they utilized some of our systems against us and scanning technologies. distribution processes which are extremely sophisticated to. we have to stay in front of them. if you could have a technology that's out there on the dark web or communication devices that are utilized are the largest companies in the world and by those involved in the development of new technologies on the business side, the cartels are accessing that as well. they have no limitation to the amount of funds and resources they can pour into it or bad actors who want to partner with

them to proliferate these drugs. >> dhs secretary kristi noem, thank you for spinning time with us today. rfk wants us to use beef tallow instead of seed oils. some companies are headed down that road to. i had beef tallow fries for lunch -- my review and a deep conversation on health next.

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♪ ♪ >> we are back with other stories you may have missed. the great kevin corke is still with us on what else is happening. >> a virginia high school track meet, very interesting to watch if you missed this. it took a very violent turn of. [shouting] the runner seen repeatedly bashing her opponent with a baton. she's actually speaking out now about the backlash that she has received claiming it was an accident. >> you're physically hurt but you're not thinking of my --

>> why? the runner hit several times said to be suffering from a concussion and a possible skull fracture of the story is not over just yet. >> will: i saw that interview. there is no way it was an accident. she said it was on a relay handoff -- that's not a natural relay motion, she whacks her a couple times on the back of the head to. >> i ran track there's no way that was an accident. the girl out in front was way out in front, what is she talking about? >> look at her reach out to. she hit her hard to. she really gave her the business. and she's crying, crocodile tears. >> i don't mean it, it was an accident, really. i don't buy that for a second. if you believe that i got some farmland in the great state of texas. i got to share this with you quick. so much for love is blind i know you watch this stuff don't lie to me.

the stars are not tying the knot of the season finale of this year's show. politics the blame. sarah leaving ben at the altar over some of his religious and clinical viewpoints including support of black lives matter. i don't want this stuff. >> will: i actually do. here's the thing i know i should be ashamed but i'm not. she asked him in the pods how do you feel about blm, he's like i don't know and she's like i don't think i could be with you. you dodged a bullet. >> yes! >> you said what i was going to say. >> will: she defined herself by her politics, it's never going to be okay, move on. thank you. i like the human experiment side of it, i like the social experiment is not the romance so much, trust me.

hhs secretary rfk jr. taking on big food today meeting face-to-face with leaders from general mills and pepsi among others. we know rfk jr. has been sounding the alarm on certain foods and chemicals. he's been targeting things like potassium bromide, red dye number 3. what are these things? they are used to make plastics more flexible, they can get into food through packaging or even contaminated water and a soil. they have been found in foods like yogurt, cheerios, and progresso soup. potassium bromate is a controversial chemical added to improve dough into baked goods, it has been banned by a number of countries. here to help us understand all of this and how it affects our health, the host of the health podcast of the genius life and author of "genius food." max look --

>> you got it, you got it to. >> will: before we get of the specifics what you think about rfk meeting with the heads of these industries? do expect this to be antagonistic or them willing to make some moves towards making america's food more healthy? >> they aren't going to go quietly into that good night. is the bottom line at stake here. it's the first time rfk has been meeting head on the manipulations and excesses of the food industry, we have inherited a food supply that is 73% altar processed foods at these ultra-processed foods have recently been linked to by scientists to 32 different ways your health can suffer. not one positive health outcome was linked to the consumption of ultra processed foods. this is a cause that has become important to me. my mother i had a loved one suffer from numerous chronic health conditions. it's a massive problem. i'm. i'm optimistic i don't know how this is going to unfold but this was the first time since he was

confirmed he is meeting with the heads of the likes of general mills and pepsico. i'm cautiously optimistic we'll say. >> will: i want to ask about seed oils, seed oils get a lot of attention recently. there's a lot of conversation about how bad seed oils are for you. i know on your podcast you spoke with the cofounder of sweet green about changing from seed oil to olive oil, here is your conversation. >> we shipped all of our cooking oil to extra-virgin olive oil and avocado oil based on what we are cooking and the response has been incredible. of the more we learn about it -- i went on a very long and our team did a long journey about trying to understand what was right. before that we were using sunflower oil in the journey about learning from seed oils is fascinating, to the point of what is the definition of healthy and how you understand what is right. i was shown studies on the polarity of opinions on seed oils is also pretty fascinating.

>> will: you hear him say the polarity of opinions but there is a popularity of consensus around the idea that seed oils are bad -- why? >> there is no long-lived population for who seed oils make up a significant portion of their dietary calla stomach calories. they haven't been the human food supply for more than a hundred years. the issue with the seed oils is they are chemically very vulnerable particularly when extracted from the whole food matrix. what that implies is when exposed to light, heat, and oxygen they are prone to a chemical route known as oxidation. when used in a restaurant setting for example in fryers, really harmful byproducts of this process are generated. they have been linked directly

to conditions like alzheimer's disease and we don't have the long-term date of the city's oils are universally healthy. with regard to these oils need to take a precautionary principle approach, we need to be highly skeptical. i think the data is insufficient to say they are healthy. do i think replacing them with another oil in the food supply is going to magically fix our problems? i don't think it's going to move the needle on obesity because any oil is highly caloric and nutrient poor. while i do think it's a move in the right direction to replace mike with avocado oil or extra-virgin olive oil, this a ton of evidence now on extra-virgin olive oil, how anti-inflammatory it is from randomized controlled trials. i think it's folly to think replacing these oils we are going to inherit -- we are going to encourage a leaner population

when we continue to consume 60% of our calories from essentially vending machine foods. >> i know rfk is on the beach to replace seed oils with beef tallow -- i had beef tallow fries for lunch and they were awesome. they were incredible. i don't know how much better they were for me but they tasted amazing. if you ever see them, go for beef tallow fries. thanks for being with us today. >> of course, thanks so much. >> will: the left letting curse words fly and a vandalizing tesla facilities all in response to the trump agenda, is it too late to salvage the party? we will ask one former democrat turned independent andrew yang, next.

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becoming the party of profanity? >> somebody slapped me and wake the [bleep] up. >> if you go to speak directly to elon musk what would you say? >> [bleep] off. >> elon musk and their hackers do not know [bleep]! >> to think that elon musk or donald trump give a [bleep] about our public schools, [bleep] trump! [cheering and applause] >> we have to [bleep] trump! >> will: i am no prude but it's just gratuitous. it's productive, even politico think so, party mouth democrats have fighting words we cannot put in this headline. and it got worse at a bernie sanders rally on friday, a transgender performer singing an antireligious song with pretty vulgar lyrics.

>> god had big [bleep], god had a big fat [bleep] >> will: i'm not even sure we caught all over the [bleep]. that thing was full of things you should not have to here. but it was at a political rally for bernie sanders, let's go together and say wow, that is inappropriate. in all circumstances but particularly at a political rally. now the left vandalizing tests of facilities over elon musk's role in the trump administrations, spraying graffiti own signs, setting charging stations on fire and throwing molotov cocktails at vehicles. our next guest used to be a democrat and now became an independent realizing that politics usually does not work,

now forward party cochair, andrew yang and the author of "forward". you used to be one of these guys, explain all of the language and inappropriate behavior. >> i have not been a democrat for several years now. you were right in that intro, i'll think that politics is working, a lot of americans are animated. i'm not somebody who things that vandalism or property destruction helps you because, it usually drives people to the opposite point of view. >> will: by look, i understand you have not been a dumbest -- democrat for some time, but i think it is worthy and analysis and why this is happening. on one hand you have sitting congressman cursing, it seems a pretty unnatural attempt to be authentic. they look at donald trump, he is unfiltered and they tried to be

unfiltered, energy comes off so cross and manufactured. as far as the violence and profanity and vandalism, i think this is an audience of people you condition to see their political enemies as existential threats, what is left to do than get crazy and violent? >> we know what should actually happen, that is to win elections, races and power. the problem is elections are not until november of 20s 26, -- 2026. i have been known to swear on the trail, sometimes it seems performative, sometimes authentic. i believe for some democrats, they are trying on for the first time and it may not be the right fit. >> will: wanted knowledge, donald trump has cursed. i'm not a prude, we have seen republicans do this, there is a level of self-awareness it has to be involved. it feels here as though it is

the substance of the argument, it is not a moment of authenticity. your argument has become f trump. that is literally what their response is. i don't really see much of a deeper argument beyond that, that is no substance. >> it is one reason trump had won it not once but twice, the democratic party fell into this oppositional position, but they should have been doing is solving the root problems that many americans are upset about, which is that if you have children, you are concerned they will live a better life than you did, a lot of people seeing their community go down the right -- wrong track, things becoming less affordable. democrats have to be focused on those kitchen sink issues, their failure to achieve on those dimensions in my view is one of the reasons that led to this position with donald trump back in the white house.

your viewers probably no, i'm not a trump guy, i think there should be a third option, third wave in american life. 50% of americans now classify ourselves as independent and not feel represented by one party or the other. >> will: do you ever look back and say wow, there is a complete vacuum of leadership into the democrat party, that could have been my opening? >> i get a version of that just about every day. i look at it and i say, that is now my job. my job is to build an alternative, positive independent alternative, not left or right but forward. but i will say that is that your leadership void and vacuum that people are besieging various figures including me just about every day saying please do something. that is something in my view the democratic party needs to sort out. i wish some of the folks that you know are waiting in the

world -- wings to run in 2028 to get a move on because at least he could have more of a constructive conversation. >> will: i think your analysis of the left is accurate, they define themselves, the identity became anti-donald trump. that was the only northern a star, guiding light. whatever rhetoric they chose, policy they chose to oppose, it only mattered which side donald trump was on. two words mattered to the democratic party, donald trump. >> it because of that he dominated the conversation, the discourse of a policy. that is now or democrats should have been. i ran for office myself in 2020, at a whole litany of policies trying to make america more affordable. i think that is where most americans want us to go. >> will: all right, andrew yang, thank you for hanging out with us today. >> thank you, congratulations on

the show. >> will: thank you, take care. it is time for "will of the people". that was kevin corke's impersonation and i agree it was very good. i cannot read the name here, stephanie says you and kevin were great together, i was smiling and laughing as much as you work, you should have kevin back, and we will. dane says he have to try duck fat fries, it is a death romeo. avenue never tried it but it's anything like the fries i have had today it will be a game changer. i should not be having fries for lunch because it is a little heavy and i am tired but we will be all right. that is it for us today, where we get to the heart of the matter from the heart of america. now it is time for "the five". ♪ ♪