PBD Podcast
China vs Trump: 90-Day Tariff Pause TRIGGERS Retaliation w/ Benny Johnson | PBD Podcast | Ep. 575
Thu, 10 Apr 2025
Political commentator Benny Johnson joins Patrick Bet-David, Tom Ellsworth, Vincent Oshana, and Adam Sosnick to discuss Trump’s pause on tariffs and proposed 125% tariffs on China, Kevin O’Leary’s bold call for 400% tariffs, Jamie Dimon’s latest U.S. recession prediction, and Anderson Cooper trending for misgendering a civil rights attorney on air.------🧢 THE LIMITED EDITION FUTURE LOOKS BRIGHT HAT: https://bit.ly/4joyOab👕 GET THE LATEST VT MERCH: https://bit.ly/3BZbD6l📕 PBD'S BOOK "THE ACADEMY": https://bit.ly/41rtEV4📰 VTNEWS.AI: https://bit.ly/3OExClZ🎙️ FOLLOW THE PODCAST ON SPOTIFY: https://bit.ly/4g57zR2🎙️ FOLLOW THE PODCAST ON ITUNES: https://bit.ly/4g1bXAh🎙️ FOLLOW THE PODCAST ON ALL PLATFORMS: https://bit.ly/4eXQl6A📱 CONNECT ON MINNECT: https://bit.ly/4ikyEkC👔 BET-DAVID CONSULTING: https://bit.ly/3ZjWhB7🎓 VALUETAINMENT UNIVERSITY: https://bit.ly/3BfA5Qw📺 JOIN THE CHANNEL: https://bit.ly/4g5C6Or💬 TEXT US: Text “PODCAST” to 310-340-1132 to get the latest updates in real-time!ABOUT US:Patrick Bet-David is the founder and CEO of Valuetainment Media. He is the author of the #1 Wall Street Journal Bestseller “Your Next Five Moves” (Simon & Schuster) and a father of 2 boys and 2 girls. He currently resides in Ft. Lauderdale, Florida.
Chapter 1: Who are the hosts and guests featured in this episode?
Adam, what's your point?
The future looks bright. A handshake is better than anything I ever saw. It's right here. You are a one-on-one? My son's right there.
I don't think I've ever said this before.
Okay, so home team episode 575 with the one and only Benny Johnson in the house.
Benny! What's going on, guys? All right.
So, by the way, Benny, we just want to make sure. I know sometimes people are recording stuff like this. Benny jumped the fence to come here today.
Yes, he did. Like, literally. I did.
He jumped the fence. He landed on a plane. and didn't want to wait until the airport opened the doors. He jumped the fence, came in, but he did it legally.
Yeah, but security came and was like, do you know the, we're like, yo no se, Benny. Don't they stop Tom Holman, Benny, what's happening?
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Chapter 2: What is the timeline and background of Trump's tariff policies?
Kramer shares four lessons from the Trump tariff turmoil. Let's see how good these lessons are. And then, you know, here's which grocery store's items will get more expensive because of tariffs. Canada spectacularly bended the knee to the U.S. as Trump scores major victory over the 51st state. And then Fox host fumes about media focusing on economic pain of Trump's tariffs. It's mind boggling.
I'm not surprised, but we'll talk about it. Trump declares he would absolutely bomb Iran if it refuses to give up its bid for nuclear weapons. Dow goes up 2,900 yesterday. I think it was the third largest day in the history of the market for the Dow. And SMB Post, the biggest gain since 08. For some of you guys that follow sports, something happened.
This coach named Michael Malone, who's actually a pretty good coach, won the championship, all of a sudden gets fired. Some are saying it was Westbrook's fault. Some are saying it was, you know, a bunch of stories there. We may have some kind of story all the way at the end. We'll talk about that. Trump assassination attempt. Suspect Ryan Routh sought rocket launcher from Ukraine.
You read a story like this. So what did you do this weekend? I tried to buy rocket launcher. Oh, really? And I went to Walmart. They didn't have it. Really? So I went to Ukraine. Cool. They have a discount. Did they report it? Did they report it? I don't know if they did or not. I don't think so. Florida State approves a ban on geoengineering and weather modification.
Ben Shapiro says Peter Navarro should be nowhere near trade policy. CIA probed photo of Hitler in Colombia years after the war. And then on the addendum, Anderson Cooper, out of all people, folks, and Benny, you know this. This is sad. How dare he misgender someone?
I almost broke the TV.
I couldn't believe he misgendered someone.
What did he do?
No, I know. The fact that he doesn't know that she wanted to be called they, them. Unbelievable. It's a big disappointment for CNN. I mean, they missed their opportunity. Couldn't she sue them? You shouldn't have hired a Vanderbilt.
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Chapter 3: How are the EU and other countries responding to the US tariffs?
Like just type in ChadGBT, how many Ford dealerships are there in Europe? I'm actually really curious because you got me thinking now. I've never even looked at this data before. How many Ford dealerships are there in Europe? Let's see this number here, Benny. Okay. So they got 3,100 dealerships in Europe. Across Europe. Okay. So then here's what I would want to know.
Because to me, as much as EU is something we're looking at, I want to know my number one person in this whole thing taking place is not EU. Because EU allows social media communication. EU allows our stuff to be there. China's my number one. Can you type in, Rob, how many Ford vehicles were sold in Europe? How many Ford vehicles were sold in Europe?
Okay, so let's see if EU is the enemy or not, because I think China's on that list. Let's see this one here. So Ford sold roughly 426,000 units, reflecting 17% decline in 2023. The decrease reduced for market share at 3.3. The decline is due to a discontinuation of popular models like the Fiesta and Focus. Okay, so now let's go look at how many BMWs Europe sells in the U.S.
How many BMWs Europe sells in the U.S.? Okay.
Good one.
So if we see this now, because it validates how great of a customer we are. So go to, there you go, 371,000 they sell in the U.S., making a 2.5% increase.
Mercedes.
Those are the models. Let's type in Mercedes as well. Volkswagen. Okay, type in the same exact question, Mercedes. Yeah, let's see, Mercedes. And then let's look at this here. Let's look at this here. Okay, so about the same exact number, 374,000 is what they sold. Okay, what is the total population in EU? Total population in EU is... Tom, do you have an idea?
I thought we were about, so we're 350, and depending on where you draw the line when you get to Poland and Ukraine, C-449, yeah.
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Chapter 4: What are the implications of Trump's tariffs on China and the global economy?
Thank you.
Thank you. Thank you. Thank you.
He meets with Japan, the enemy. He goes and meets with Japan's leader, the enemy, and they have some, what drinks, he said, not sake, what did he say? They had some drinks together, and while they did, during the dinner, this is it, he said sake? Okay, during the dinner, you know what ends up happening? He asks them, he says, look, I need your help.
How were you guys able to grow your economy 15% back to back to back where your size of your GDP doubled four times over a span of a couple decades? How did you guys do this? And finally, Japan, after it was done, they shared with him. They said, how many banks do you have? He says, we have one central bank. He says, no, how many banks do you have? He says, I just told you, we have one bank.
He says, it'll never happen. He says, what do you mean? He said, you need 5,000 banks. and 5 million loan officers taking 35 applications of business owners on a weekly basis. He says, how many? He says, you need 5,000 banks, 5 million loan officers taking 35 applications a week of small business owners coming in. He says, you're kidding me.
He says, no, if you don't do that, it's not going to happen. He goes back. That's exactly what they do. China then starts having different banks. They start competing with banks. They start having the loan officer. Small business starts taking off. China's economy goes up. This guy said, let's set aside our communistic history and all this other stuff.
Keep in mind, in 1971 is the first time that a U.S. president went to China for the first time ever. And it was Nixon. Hadn't happened for 25 years. So he comes and he goes to Japan, has that conversation. He leaves. China takes off. The next thing I did yesterday is I wanted to find out what Xi thinks about him. Because what Richard said is the U.S.
has to have a conversation with China to have it be a conversation like this. Let's find a way to make this work. Well, if you look up, Rob, go to ChatGBT and type in what Xi Jinping thinks about Deng Xiaoping. And when you type this in, because a part of it has to be like, who's your hero? Do you look up to that guy? Is that somebody you admire?
If you do, then the president and his team can think about how to approach China. This is what you'll see. Xi frequently credits him in a speech calling him the greatest Marxist. He acknowledged him, but also at the same time, he has positioned himself away from him. Rob, if you can go a little bit higher, the camera's covering it. He said good things, but Xi views himself
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Chapter 5: How do the hosts interpret the 90-day tariff pause announced by Trump?
And he says how it took them. It's actually a very good clip. It's a long clip, seven minutes, so we don't need to play it. But I'll tell you what he said. This young kid comes to Shamad and says, hey, we need to build a battery company in America. Let me show you the idea. He shows it to him. And Shamad says, well, let's do it. So they go through the process.
It takes them almost a year, year and a half to get this done. He'll give it a timeline. And they end up getting $100 million from the government to do this. He says, we need billions. Then he says, Letitia James goes under Biden and asks for some money. Within 30 days, he gets approved for $2 billion. He says, we're going to do something good for America.
Took us a year and all this stuff, bureaucratic processes that we have to go through to get to 100 million. She got $2 billion within 30, 60 days. So this is the part that regulation, we need to continue deregulating to allow the small business owner to be getting that $25,000, $50,000 to see what they can build with. That's another problem that we're going to be facing.
So yes, China, yes, all this other stuff. We have to kind of look at some of the stuff that maybe in the future, this number needs to go back up to around 10,000.
Is it deregulation or is it just monopolies? Because I'm so glad that we pointed this thing out because we've lost, what, 70% of banks since the 70s? But you start to hear all the mom and pop stories that are closing. So whether it's retail and it's Walmart and Amazon, whether it's pharmaceuticals and it's just Walgreens, CVS, Duane Reade, whether it's electronics, it's just Best Buy and who else?
I don't even know. Radio Shack closed. There's less choices and it's just more monopolies and all these big companies are just taking over. The mom and pop companies no longer exist. Is that sort of what the analogy is with the banks?
Yeah, because like the way he was describing it, banks want to be able to give a billion dollar loan, a $200 million loan to a big company. They don't want to give a $50,000 loan. It's like the same amount of time. I would much rather give a billion dollar loan and go sell it off to the third party than have to come and deal with somebody that's a small business owner for $25,000.
How many of those $25,000 do I need to do? Look, $100,000 loan for a billion, how long does $100,000 take to get a billion? That's a lot of them. But the small bank that's a local bank that somebody is putting up $30 million, they will give that $25,000. They will do that $50,000. The bigger banks are like, we're not interested in that. Stop it. Go to somebody else. Our minimum is $5 million.
Our minimum is $20 million.
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Chapter 6: What is the role of negotiation in the US-China trade conflict?
It's a medicine we have to take. Can somebody explain to me why Joe Biden wasn't hit with the R word?
Retard? He was in this room. That's the right question, Benny. Which R word, Benny?
I just threw it out there. You're talking recession? So PBT just goes like the Biden recession, but that did not sink in. They changed the definition of that. Okay. So what happened there?
They changed the definition while we were literally live on the air.
Well, I look at it a little bit differently. I look at it a little bit different because this is kind of the conversation I was having with Brandon the other day where he's like, you have to understand the macroeconomics and what happens with the quantitative easing. And then what happens is I was like, well, have you started investing yet? He's like, no.
I'm like, why are you so worried about the world's economy? You should be worried about your own economy. And then he's like, well, you know, I'm just waiting on the time to buy the dip. I go, you probably want to buy today. And I go, because I've seen this markets go up and down all my life since I've been in this investing world.
The next day, all time biggest increase in the stock market we've ever seen in our lifetime. It's like, did you buy it? He goes, no, I was waiting. I was like, you missed your chance. What's my point? I don't know if a recession is happening. You're saying that it might be four months. It might be six months. Consecutive quarters of negative GDP. We don't know.
What we do know is what you can is control inflation. The controllable. So is Jamie Dimon right? Hold on, Vinny. I know you're a financial advisor.
Let me just drop the ball.
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Chapter 7: How do tariffs affect the US banking system and small businesses?
I don't doubt it. Oh, no, that's a deaf girl. Sorry. Well, she. Goodness, that's me. I mean, that's probably me responding to the clip. Yeah. See if it's in here. Yeah, it is. Hello, Mr. President. Yep.
President.
For a second time. Brock, very nice to see you. Congratulations. How you doing? A lot better, Dan.
Yeah, I bet.
I knew you'd win. Oh, really? Oh, come on. Anyone could beat her.
She's just... I was just as appalled.
You know what happened? He just didn't want to leave. I know. It's what happened. I did what I could to help her. She was horrendous. I know. you know what i realized hillary still hates me so much she'll never forget me come on boys we should meet to discuss i think so too we can definitely set something that's so funny i was gonna fly back to florida tomorrow for the gulf okay
They're going to golf together. The photo. Who wouldn't want that?
This wasn't some of the joke stuff. That was the professional and the real stuff.
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Chapter 8: What are the recession predictions related to Trump's tariffs and economic outlook?
I mean, it's the exact opposite of what's going on in America for the last 5, 10 years. I mean, this happened, I believe, in Thailand. So the chances of this happening in America are nonexistent. They would just have... you have to go through these bars to get in there. They were just our fat, sloppy, overweight people here in America.
Are they making people pay for double plane tickets now? Exactly. There's airlines that are now charging people for double seats.
Well, of course, because they're trying to reverse the ridiculousness that's been sort of pervasive in our country. I mean, half the people in America right here just go through the front door, buddy. You ain't getting through any of these bars right now. You might have to pay double. But all these things, like do you remember when they were basically saying, so if you have bad credit,
You actually will get a lower rate on your mortgage or your credit card because you've been paying your bills late and you haven't been establishing good credit. So you're going to get preferred treatment in the banks and the economic system. It's like, how does that make any sense? Or like you mentioned, you know, if you're fat, you're big boned and they want to give you a free seat.
It's like, no, no, you got to pay double for those seats. It's the reversion. It's just reversing the the.
imbecility of what's been happening here i guarantee you one thing when trump is president you will not see a trans woman win a beauty pageant do you remember how many trans women have won beauty pageants all across america all across the globe trans woman bought the beauty pageant yeah those days are women by all women and it was a dude talking those days are done
So, all right, let's go to the next story. Ben Shapiro says Peter Navarro should be nowhere near trade policy. This is Media Matters. Ben Shapiro. OK, so is this a clip, Rob? Yes. Go for it.
This has led to what is the most obvious proxy battle in the administration between Peter Navarro and Elon Musk. Elon Musk has been just beating the living hell out of Peter Navarro online. He called him yesterday, Peter Retardo.
Peter Navarro said to Elon Musk he said that that Elon's a car manufacturer but he's not a car manufacturer he's a car assembler and then Elon responded quote Navarro is truly a moron what he says here is demonstrably false and then again called him Peter Retardo and said he was dumber than a sack of bricks I mean I'm on Elon's side of this one.
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