Don’t Fret “Liberation Day” w/Economist EJ Antoni

The Carl Jackson Podcast

Salem Podcast Network

News, Politics, News Commentary

4.8 • 2.2K Ratings

🗓️ 3 April 2025

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this conversation, Carl Jackson and economist E.J. Antony discuss the implications of Trump's proposed reciprocal tariffs, focusing on their potential impact on the American economy, consumers, and global trade dynamics, particularly with China. They explore the necessity of Congress collaborating with the White House to implement tax cuts alongside tariffs, the historical context of trade barriers, and the long-term economic strategy needed to revitalize American manufacturing. The discussion emphasizes the importance of a balanced approach to tariffs and the need for a clear implementation strategy to ensure economic growth and stability.

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Transcript

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0:00.0	All right. Hello and welcome to the Carl Jackson show, your daily dose of objective truth and a world of confusion and lies, or should I say welcome back to the Carl Jackson show.
0:10.1	Guys, today Trump unveiled, what is it, Liberation Day, it's called reciprocal tariffs.
0:16.2	So this has been one of these days that, frankly, I've got to tell you, I've been looking forward to simply because I wanted some stabilization in the market.
0:25.7	I realized that this was going to be a back and forth kind of a tough road to hold, so to speak.
0:31.3	But I think this is best for the American economy in the long run.
0:36.2	And so now I am joined by my guest, E.J. Antony, because he
0:39.8	knows this stuff so much better than I do. He's an economist. Obviously, you know him with the
0:47.2	Heritage Foundation. And listen, E.J., thank you for taking time with us today to sit with us and talk
0:53.7	through this.
0:56.0	Well, it's my pleasure. Thank you for having me.
0:58.5	Absolutely. Okay, so E.J., I got to tell you right off the bat, I'm a little, how do I say this?
1:06.4	I want to see, I realize this is best for the United States of America long term, or at least that's what I believe, when it comes to these reciprocal tariffs.
1:14.6	I don't trust Republicans. I trust Trump. I got to be honest with you. I'm a little more concerned that Republicans will get weak need before we get to the tariffs will get weak need and not follow this through with President Trump,
1:29.4	which is why I'd love to see a big, beautiful bill or a permanent solution to Trump's tax cuts,
1:36.5	jobs act like right away. Your take on that. Well, look, we have to remember that these tariffs have the potential to impose
1:46.7	additional costs on american consumers the idea that the entirety of the tariff gets passed on to
1:52.0	the consumer look that that just doesn't happen in reality it's not true in economic theory
1:56.1	it's not true in economic history but you are going to have some costs that make it through to
2:00.6	the consumer,
2:01.1	and you need to offset that. A very easy way to offset that would be to simply take the,
2:06.2	excuse me, take the revenue that's coming in from tariffs and put that towards reductions in
2:11.9	income tax rates. But that aside, we're also talking about a four4.5 trillion tax agenda that is part of this president's
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