All Episodes
Feb. 21, 2026 - Bannon's War Room
51:56
Episode 5159: Protecting American Industries And The Fight For Tariffs

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Participants
Main
j
john solomon
06:20
s
steve bannon
r 16:55
Appearances
b
brian kilmeade
fox 00:43
c
catherine rampell
00:43
d
donald j trump
admin 04:37
j
john fetterman
sen/d 00:47
j
john gardner
03:24
m
mike howell
04:07
m
mike lindell
r 01:18
n
nicolle wallace
msnow 02:24
r
rachel campos-duffy
fox 01:24
s
scott bessent
admin 02:06
s
susan glasser
newyorker 01:34
t
trita parsi
03:38
Clips
j
jake tapper
cnn 00:10
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Speaker Time Text
CIA Reports Unveil Deep State Conspiracy 00:15:12
steve bannon
This is the primal scream of a dying regime.
Pray for our enemies because we're going medieval on these people.
Here's not got a free shot on all these networks lying about the people.
The people have had a belly full of it.
I know you don't like hearing that.
I know you're trying to do everything in the world to stop that, but you're not going to stop it.
It's going to happen.
jake tapper
And where do people like that go to share the big lie?
MAGA Media.
I wish in my soul, I wish that any of these people had a conscience.
steve bannon
Ask yourself, what is my task and what is my purpose?
If that answer is to save my country, this country will be saved.
unidentified
Here's your host, Stephen K. Bannon.
steve bannon
It's Friday, 20 February, Year of the Lord, 2026.
Naturally, we would start with a cold open and bring in a couple of experts and break down this massive news of the day, which was this ruling by the Supreme Court on tariffs.
And we have all of that.
In addition, I want to give a hat tip to Robin Parker Sig for after the president's press briefing.
We went right to Dallas Live and covered in its entirety Scott Bessant's entire speech and question and answers at the Dallas Economic Forum.
Very, very powerful.
And I think was what separates this network from others.
It's very serious.
We put the most serious players up and talk about the most serious topics.
We just don't chase rabbits on whatever the story of the day is that their hair's burning up on.
That's where we're starting with John Solomon.
John Solomon joins us, and you alluded to this earlier.
John, this is the President's Intelligence Board talked to me about it.
There's 19 findings or 19 reports done by the CIA over a long period of time that CIA Director Ratcliffe, and I guess Tulsi Gabbard's had her hand in this, have now said either had bad tradecraft or were politically biased.
This is kind of blockbuster.
So I don't remember anything ever like this happening in the history of the CIA, sir.
john solomon
No, this is historic.
19 reports retracted either in entirety or a couple were actually republished after the bad stuff was pulled out, but 17 entirely retracted.
They were basically DEI masquerading as fake intelligence.
One of the reports, and people are going to laugh.
Remember, we were told that parents who went to school board meetings were a threat, that Catholics who preferred Latin mass were a threat.
Well, the CIA considered women who preferred traditional motherhood to be potentially at risk of becoming extremist threats.
That was one of the intelligence reports.
You can actually read that report.
The CIA declassified it and allowed us to post it up on our site.
It is extraordinary to see what happened.
And what the CIA says is we had a group of analysts who put their politics ahead of evidence.
They put their politics ahead of intelligence.
They did not follow the tradecraft that is required under it.
By the way, an executive order that goes back decades in the CIA.
You're only supposed to do analytical products that meet very rigorous standards.
The CIA told us today these 19 reports did not meet those standards at all, and most were infected with DEI-like biases that made these products garbage, but they were distributed throughout the United States Intelligence Committee, going all the way back to Barack Obama, right through the end of Biden.
This is the first administration to pull them back.
So we've gone from school board parents to Catholics to now mamas as being danger threats in the ideology of intelligence agencies.
We now know why the things of the last decade happened because the people inside those agents who made them happen believe this stuff.
steve bannon
John, The President's Intelligence Board Advisory Board, the President himself.
john solomon
Devin Nunes.
steve bannon
You had options.
You know, Tulsi and Ratcliffe could take this and do it internally.
This shows you a deep rot institutionally, not just bad actors.
What was it that drove Nunez and the president to work with Ratcliffe and Tulsi and make a determination you would do it to this amount of gross tonnage?
Because clearly this is going to send a signal, not just within Washington, D.C., but to the Five Eyes community, the intelligence services in the Middle East, exactly at the moment that we're about to maybe go kinetic, sir.
unidentified
Yeah.
john solomon
And also, maybe some person that's sitting in a college classroom that two years from now is going to get recruited by the CIA to come do this very important work.
They wanted to make a public spectacle of just how insane some of these reports read when you read them.
The sources for these reports weren't spies.
They weren't confidential human sources.
They were things like the Atlantic Magazine and left-leaning think tanks and opinion writers.
None of those make any sense in an intelligence report.
They were supposed to be focused on intel, corroboratable things.
Now, why did they do these 19?
Because a year ago, working, Devin Nunes had written a tradecraft report back when he was House Intel Committee Chairman that eviscerated the Russia, the CIA Brennan analysis that Vladimir Putin helped Donald Trump win the 2016 election.
We now know that that was fake, false, not true, disputed by the career people beneath John Brennan.
It's why John Brennan is currently being investigated by a grand jury in Florida.
That original spycraft work, which was hidden from the American public for five years, was made public last year.
Donald Trump came on this network, said, I'm going to declassify it.
A couple weeks later, magically, it was declassified.
And then that report was also withdrawn.
And the intelligence committee was said to no longer rely on that.
That led the PAB, the President's Intelligence Advisory Board and Devin Nunes, to go back and look at some other reports that were done by people of similar thinking, similar backgrounds, similar articles.
And they found, they reviewed 300 articles.
They found these 19 basically junk intelligence and they worked together.
And Ratcliffe himself made the decision that the best antiseptic was to publicly put each of these out and let people see the insanity of them so no one's in the CIA is tempted to do it going forward.
steve bannon
This is putting a shot across Brennan.
You had the great report this morning about the grand jury investigations and what's going on in South Florida.
But Brennan was known, he was an analyst.
He didn't come from the operator side.
In fact, he merged both in the most controversial reorganization of the CIA.
I think since its founding, he merged the analyst in with the operatives and quite frankly gave analysts like himself more power.
Is this a complete slap in the face to him since he was an analyst and most of this is analytical work under his watch?
john solomon
Yeah, but it's also a slap in the face of Gina Haspel.
It's also a slap in the face of the last CIA director who worked for Joe Biden because all three allowed these reports to become public.
These go all the way back to Obama I, Brennan's era, Obama II, excuse me, Brennan's era, then Trump I, and then all of Biden.
So you had three consecutive CIA directors who thought it was okay to let this political infection spread across the analytical desks of the CIA.
John Ratcliffe, Devin Nunes, President Trump, the first to say, not on our watch and not ever again.
And I think that this is a really important moment as we head into what could be a really difficult six months in American history.
We're going to be facing some kinetic threats.
We're going to be dealing with some really hard revelations about things that happened in election interference that have been kept from us.
The confidence is being restored in our CIA analysts because they're being forced to follow the rules again.
steve bannon
I also, directionally, it looks like more things about the deep state are coming out every day.
I know you've alluded to the fact of foreign actors in election integrity that we should look forward to.
So I kind of get the directionally, I think I see where this is going, sir.
Any guidance to the war room posse?
john solomon
Yeah, listen, I think China and elections are going to be a much more important topic.
Ukraine and elections is going to be a much more important topic as we start to get new information.
Now, it's going to take us a couple of weeks, but Tulsi Gabbert, Kash Patel, John Ratcliffe are working very hard, very quickly.
They have dug up some extraordinary troves that were probably some of the deepest buried secrets in the history of our intelligence community.
These things were hidden to never be found, and they have dug them up.
And all three of them are working around the clock beyond doing their day job of protecting us from current threats to go back and eradicate these prior threats.
And I think that's a really important thing.
And then we were on together this morning, Steve, and I had a chance.
The ruling had just happened.
But I read John Roberts' opinion.
I read the dissents.
And I've been thinking a little bit about what I read.
And I think that what happened today is that John Roberts closed a front door to tariffs, but he opened up a giant back window for Donald Trump to succeed and come back to the Supreme Court when he declared that Congress must explicitly give the president authority to do tariffs.
There are four other laws where that does happen.
I think Donald Trump is going to hang his tariff hat on that hook.
And the next time around, the Supreme Court may very well give the president a victory.
It was very clear what the Chief Justice and the dissenters were doing.
They were giving this administration a roadmap.
You picked the wrong law, but if you find a law that says the president has authority to impose tariffs, come back to us.
And that's, I think, the back door.
I think there's a golden or a silver lining to this cloud today.
steve bannon
John Solomon, you're a very wise man.
Where do people go?
Where do they?
I think it's a pretty good framework in which to view this.
And Kavanaugh's dissent, very wise.
unidentified
Where do people go to?
john solomon
Smart dissent.
steve bannon
Where do people go to get your content, sir?
john solomon
Yeah, justthenews.com, Jay Solomon reports.
And I'm lucky to follow you every day at 6 o'clock right here on this incredible network, Real America's Voice.
Just the News, no noise, the TV show.
steve bannon
Thank you, sir.
Appreciate you.
Appreciate all the investigative reporting.
unidentified
Yeah.
steve bannon
A lot going on with John Solomon.
Okay, we've had two great reports to kick off both shows the morning and the afternoon with John Solomon.
These are kind of earthquakes.
A lot of stuff's going to be coming out from the deep state.
This is historic 19 to really put, I think, the Central Intelligence Agency on notice by Ratcliffe.
Ratcliffe, I think, made the determination here with Tulsi.
Obviously, Nunez at PIB, and of course, the President of the United States.
Let's go ahead.
I think John's given us a very smart framing device of what he just said about these decisions, and particularly Kavanaugh's dissent and Justice Thomas Nelito signing up for that dissent.
Let's go ahead.
We got an amazing cold open.
President Trump in all his glory coming in hot today at the press briefing and Scott Besson having us back in Dallas.
Of course, the mainstream media has got to melt down.
Let's go ahead and let her rip.
We've got Mike Howell and John Gardner on the other side.
donald j trump
The Supreme Court's ruling on tariffs is deeply disappointing.
And I'm ashamed of certain members of the court, absolutely ashamed, for not having the courage to do what's right for our country.
I'd like to thank and congratulate Justices Thomas, Alito, and Kavanaugh for their strength and wisdom and love of our country, which is right now very proud of those justices.
When you read the dissenting opinions, there's no way that anyone can argue against them.
There's no way.
Foreign countries that have been ripping us off for years are ecstatic.
They're so happy.
And they're dancing in the streets, but they won't be dancing for long, that I can assure you.
The Democrats on the court are thrilled, but they will automatically vote no.
They're an automatic no, just like in Congress.
They're an automatic no.
They're against anything that makes America strong, healthy, and great again.
They also are a, frankly, disgrace to our nation, those justices.
They're an automatic no, no matter how good a case you have.
It's a no.
But you can't knock their loyalty.
It's one thing you can do with some of our people.
Others think they're being politically correct, which has happened before far too often with certain members of this court.
And it's happened so often with this court.
What a shame.
Having to do with voting in particular.
When in fact they're just being fools and lapdogs for the rhinos and the radical left Democrats and not that this should have anything at all to do with it.
They're very unpatriotic and disloyal to our Constitution.
It's my opinion that the court has been swayed by foreign interests and a political movement that is far smaller than people would ever think.
It's a small movement.
I won by millions of votes.
We won in a landslide.
With all the cheating that went on, there was a lot of it, but we still won in a landslide, too big to rig.
But these people are obnoxious, ignorant, and loud.
They're very loud.
And I think certain justices are afraid of that.
They don't want to do the right thing.
They're afraid of it.
In order to protect, and it says so, in order to protect our country, a president can actually charge more tariffs than I was charging in the past period of a year under the various tariffs, authorities, so we can use other of the statutes, other of the tariff authorities, which have also been confirmed and are fully allowed.
Therefore, effective immediately, all national security tariffs under Section 232 and existing Section 301 tariffs, they're existing, they're there, remain in place, fully in place, and in full force and effect.
Today I will sign an order to impose a 10% global tariff under Section 122, over and above our normal tariffs already being charged.
And we're also initiating several Section 301 and other investigations to protect our country from unfair trading practices of other countries and companies.
But other alternatives will now be used to replace the ones that the court incorrectly rejected.
Section 301 Tariffs Remain 00:13:49
donald j trump
We have alternatives.
Great alternatives.
Could be more money.
We'll take in more money and we'll be a lot stronger for it.
We're taking in hundreds of billions of dollars.
We'll continue to do so.
nicolle wallace
For those keeping score at home, that was a new low even for him.
Trump's seven stages of grief processed from there, bargaining, depression, I dare say, testing, and ultimately acceptance, as he announced that he'd attempt to invoke a new 10% global tariff, citing an act passed in 1974.
Although, once again, there are questions about his legal authority to do it that way.
Despite Donald Trump's assertion today that this was some sort of twisted victory for the administration, It's actually a win for those who have argued that he'd overstepped his authorities and for advocates of our 250-year-old separation of powers tradition.
This was our third branch of government ordering the second to seek approval from the first.
The short, medium, and long-term consequences of this development are still taking shape even as we come on the air.
It is more uncertainty for American businesses, large and small.
They have already paid a price, literally and figuratively.
So what about refunds for those businesses and their customers?
How will the administration put the toothpaste back in the tube?
In his dissent, Conservative Justice Brett Kavanaugh writes this, quote, the court says nothing today about whether and if so, how the government should go about returning the billions of dollars that it has collected from importers.
But that process is likely to be a mess, as was acknowledged at Oral Argument.
On that point, the New York Times writes this, quote, so far the U.S. Treasury has collected roughly $240 billion in tariff revenue since April 2nd, 2025, a date Trump labeled Liberation Day as he imposed his sweeping tariffs.
The research firm Capital Economics estimates that if the Treasury is forced to issue refunds, the cost would run to about $120 billion or 0.5% of GDP.
The blast radius of this landmark decision extends outward from there.
What about the stock market?
Trump insisted our economy would suffer if the courts struck down tariffs.
But look at that.
I closed a few moments ago.
Things held steady.
The Dow, the S ⁇ P, and the NASDAQ ended the day up slightly.
What about Trump's trade deals struck under penalty of a mechanism over which he has no control anymore?
But for the moment, the White House must scheme its way forward following an increasingly rare directive from the Supreme Court.
It told Donald Trump no.
susan glasser
The reason Donald Trump did not impose tariffs in his first term in office using this particular statute is because his own lawyers and supporters told him that it was almost certainly would be struck down because it wasn't legal.
And it's Donald Trump 2.0 who doesn't listen to people, who doesn't have the same kind of people on the inside advising him, who proceeded with it quite recklessly anyways, especially because of the chaos and disruption it will now cause.
And I guess another point that I would make is what is Justice Gorsuch saying?
What is Justice Roberts saying?
They're saying, hey, we still have checks and balances in the country.
The legal system is one.
But the other check and balance here is Congress.
And if Donald Trump wants to be able to wave his Donald Trump magic wand and impose tariffs on the world, then the people who could do that are Congress.
They could pass a law giving him that power.
But they have not passed a law giving him that power.
There's no indication that there are the votes in either the House or the Senate, despite the fact that they are controlled by Republicans who are giving him that power.
And in Donald Trump's ranting and raving, which can, you know, it wasn't just off the cuff frothing at the mouth, right?
He was reading from a piece of paper there, which was pretty amazing.
But in his response, he didn't say a word about Congress.
He didn't say that he was going to listen to the court and try to get his tariffs passed legally.
He suggested that he's just going to play another game with the courts and dare them to stop him.
scott bessent
I would also like to take a moment to address today's Supreme Court ruling.
And I would note that I did not change a single word in my speech post the ruling.
President Trump will always put our national security and Americans first.
And as I have said before, the president has multiple tools in his toolbox.
Let's be clear about what today's ruling was and what it wasn't.
Despite the misplaced gloating from Democrats, ill-informed media outlets, and the very people who gutted our industrial base, the court did not rule against President Trump's tariffs.
Six justices simply ruled that IEPA authorities cannot be used to raise even $1 of revenue.
This administration will invoke alternative legal authorities to replace the IEPA tariffs.
We will be leveraging Section 232 and Section 301 tariff authorities that have been validated through thousands of legal challenges.
Treasury's estimates show that the use of Section 122 authority, combined with potentially enhanced Section 232 and Section 301 tariffs, will result in virtually unchanged tariff revenue in 2026.
unidentified
Yes, sir.
So to the President's point, we have a lot of tools out there.
We have Section 122, which will be implemented today, will be signed today and implemented very shortly.
We have Section 301 investigations, which are incredibly legally durable, where we can address, investigate, and address unfair trading practices that have led to our huge trade deficit.
And so you can look forward in the coming days and weeks to seeing all of that come out.
john gardner
And we're going to keep continuity in the program.
mike howell
We're going to keep addressing this so that the deficit can keep going down.
unidentified
That's the trend it has, and we can make America great against.
catherine rampell
Take the win, right?
The Supreme Court basically just gave corporate America and really the country writ large a huge shot in the arm because we have like $175 billion that have been collected in these tariffs that, depending on how things shake out, you know, should be due back to companies, should be going back to those companies that they can then use to invest, to hire, to bring in more goods, potentially to hold off on price increases.
All of that would be very stimulative to the economy.
So if Trump were smart, he would, you know, maybe rant and rave about what the Supreme Court is doing, but really like just accept the fact that they've helped him out.
And yet, I think this president is much more keen on snatching defeat from the jaws of victory.
brian kilmeade
The administration has other tools in its toolbox.
unidentified
It can actually impose tariffs under other statutes.
So this night is hardly over for the administration when it comes to tariffs.
You've already collected around $175 billion or something.
scott bessent
Well, that's since that's under the IEPA tariffs.
unidentified
But is that going to be in dispute?
Like back or what?
scott bessent
Yeah, it's in dispute.
Supreme Court did not rule on that today.
They pushed it back down to the International Tax and Trade Court.
And my sense is that could be dragged out for weeks, months, years.
So we'll see what happens there.
But the look forward, no one should expect that the tariff revenue will go down.
And roughly last year, the existing revenues under the 232s, under the 301s, and some other collection mechanisms were roughly equal to the IEPA tariffs.
donald j trump
It must be a food fight going after $175 billion in it.
scott bessent
I got a feeling the American people won't see it.
donald j trump
Just so you understand, we have tariffs.
We just have them in a different way.
And now they've been confirmed by the Supreme Court of the United States.
So there's no longer that question out there about tariffs.
And we'll be taking in hundreds of billions of dollars.
And countries that have treated us badly will have to pay a price for treating us badly.
And countries that have been good to us will be treated very well.
steve bannon
I got Mike Howell and John Gardner.
Mike, let's start with you.
I think John Solomon had it right.
They closed the front door on AIPA, but they said, hey, you got full running, which we used in the first Trump administration, the 301s, the 122s, the 232s.
Sir, what do you got for us?
mike howell
Yeah, I completely agree with John Solomon.
It's hard not to, except that they didn't just open a back door because President Trump just drove a monster truck with Beset riding shotgun out of the side of the house by up and terrorists to 10%.
And so like, I think Molly Hemingway nailed it on X today when she pointed to the Kavanaugh dissent that just basically says, all right, you checked the wrong statutory box.
Trump will be back.
No disagreements with what John Solomon said.
People are cheering.
I can't believe what I just saw on MSN now with the libs supposedly talking and cheering and applauding that a bunch of money, billions of dollars, will go back to the evil corporations.
What an upside down world we live in.
steve bannon
No, the analyst there at the end saying, take the win.
She's like from the planet Bizarro, right?
And here you have these liberals.
They're on this.
I've said this because the corporations are all woke.
They're on the side of the corporations.
This wasn't, this is no impact on the American consumer.
We've proved that over and over again.
And President Trump, I think what's great about this, because we talked to Navarro, EJ and Tony, they're already working nonstop.
They've already got the 301s and some of the 232s to go.
So now the Supreme Court, Kavanaugh, kind of gives you the blueprint, does he not, Mike?
mike howell
Yeah, absolutely.
He said, you check the wrong box, according to them.
There are a lot of other boxes you can check.
And then Beset kind of laid out, you know, basically said, good luck trying to unwind this.
It's going to take you years.
And he's absolutely right about that.
But here's the real issue why the left is really going to pretend this is something bigger than it is is because there's a lot of corporate money tied up in this, a lot of lobbying.
This is horseshoe theory where you have the Mike Pence's of the world who I'm sure will pop the top of an extra applesauce in celebration tonight aligned with those on the left who by any means necessary want to destroy Trump and the American first agenda, even if it means hurting the American people in order to benefit globalist corporate interests.
It's just, that's what it is.
The agenda will remain unaffected, but it sure would be nice if these rank and file Republicans didn't make President Trump fight every dang battle by himself.
steve bannon
No, I think it's amazing.
Look, Mike, you've been down here with us on this situation on Sharia law.
You've been all over the DHS.
I know you're in election integrity.
Just give me your punch list now because President Trump, as, you know, he's going to have to move heaven and earth here to get the terrorists back on track, but you got the 301s, the 232s, the 122s, but you got a raft of other issues.
What's your assessment of where we stand in mid-February of 2026, sir?
mike howell
Yeah, I think it's time to make things very simple and go back to the playbook and dance with the girl you brought to prom.
Trump laid out what the agenda was.
He's been clear over 10 years.
We got to get the deportation numbers up.
We got to fix our elections.
And on that, we're going to have, you know, what's looking like a sputtering out on the SAVE Act, but will be a sorting exercise.
We'll know what Republicans really aren't on the team.
And then I'm sure there'll be some executive action on it.
But the real fight's going to be with a lot of the small state, you know, group actors.
They're getting in there trying to clean up the roles and litigating.
We at Oversight Projects are certainly doing our part.
Others, you know, like True the Vote are fighting every single day.
And, you know, Cleta Mitchell and the Election Integrity Network, that is where the action's going to be.
Everyone's going to be looking at the politics and the cameras in D.C., but the fights will be with the smaller groups in courts around the country.
And so if the president can deliver on, you know, making America great again through the tariff regime and reindustrializing the U.S. while deporting those who can't be here and leaving us behind a system of elections we can actually trust.
That's the mandate.
And if he does those things and ignores the pollsters, the spinsters and the rhinos, he's going to crush in the midterms.
But if they go and listen to all these people trying to sell a bill of goods about ignoring the mandate and the agenda, then they're going to lose.
And so that's what's on the table.
steve bannon
I just want to reiterate that it's so smart.
This is a base election.
The base is there if you show that you're putting your shoulder to the wheel as President Trump does.
The problem we have is not the DSA.
It's not the Mamdani, although that is a problem.
The problem we've got is these basically neoliberal neocon rhinos, correct, sir?
mike howell
Oh, absolutely.
I mean, you can see the alignment here and the overlap.
I mean, they share a couple things in common, but none is higher than just their opposition to President Trump shaking up the alignment of American politics and centering American people.
I mean, and that's on display on the issues of immigration, like whether it's the Chamber of Commerce and others and the realtors and leisure, hospitality, restaurants, farmers who are saying, please stop supporting.
They're no different than those on the streets, you know, with the DSA and the Mamdani types trying to shut ICE down.
It's horseshoe theory where you're seeing really the strange bedfellows.
But that kind of makes sense because the Democrat Party is basically now like a Brooklyn bus stop at 4 a.m. with every type of weirdo.
And then the dying breath of the establishment Republicans need to coalesce with them.
And so it's them versus us, the American people.
And that's a fight I'll take every single day of the week and twice on Sunday.
steve bannon
Well, Mike Howell, one thing we know is you're a fighter.
Replacing Income Tax 00:09:54
steve bannon
Good to see you down here in Texas last week.
Where do people go to find out about the Oversight Project, you, your social media, all of it, sir?
mike howell
Yeah, check me out at MHL Tweets and at It's Your Gov. But posse, go check out the Mass Deportation Coalition.
This is going to be loud.
Get there first.
Follow us at Phase 2 Deport.
It's about upping the deportation agenda.
A lot of people coming together.
We need your help.
Phase two deport number two.
unidentified
Wow.
steve bannon
The Mass Deportation Alliance Coalition.
Mike Howell, thank you so much.
So on a Friday.
unidentified
Wow.
steve bannon
Start with John Solomon and Mike Howell, two fighters.
Okay, we're taking a short commercial break.
We're going to return on a historic day in the nation's capital where they try to chop block President Trump on tariffs.
Not so fast.
Close the front door, open the back.
next in the war room.
unidentified
Here's your host, Stephen K. Bannon.
steve bannon
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I think now more than ever, particularly with geopolitical risk, when I say geopolitical risk, that's a highfalutin term for war.
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Make sure you do it today and go check with Philip Patrick and the team.
Let me read.
Oh, gosh, let me, where's E.J.?
I had it right here.
E.J. Antonio.
Okay, E.J. Antonio, I'm going to get Gardner up here in a second.
E.J. texts me.
He's on Wall Street, heading back to D.C. President Trump has a half a dozen other tariff authorities he can use.
They require more procedure than IEPA.
And so there are more hoops to jump through, boxes to check, but that's only there's no real substantive change.
Few scholars are talking about Section 338, which is one of my favorite, of the Tariff Act of 1930, which gives the president wide sweeping authority to impose tariffs of up to 50% and also outright bans of certain imports entirely.
It is virtually a blank check for the executive.
The academics who came on TV who immediately weighed in saying tariffs were over and done and they are dead wrong.
Let me repeat that.
The academics that jumped on TV today who immediately weighed in saying tariffs were over and done are dead wrong.
All this really affects is the speed and flexibility of the president's ability to negotiate.
Those aspects have been diminished slightly on the margin, but that's it.
I tell you, Peter Novaro is going to come the show today, but they're already working on 301s and 232s, which we used substantially in the first administration.
John Gardner, you kind of represent the small manufacturer.
Remember, 12.8 million people in this country have jobs in manufacturing.
90% of those jobs are in manufacturing companies employing less than 50 people.
And that's who John Gardner speaks for.
What do you got for us, John?
john gardner
The American people voted for the tariff man in November 2024.
We did not vote for income tax in 1930.
We did not vote for the Federal Reserve to print a bunch of money in bailout banks.
We did not vote to come off the gold standard.
We did not vote to have our industries hollowed out.
We voted for the tariff man to protect us.
And, you know, the next step here is we president has a lot of tools, but we need to codify these tariffs in Congress so that Trump's legacy lives on after his administration and it isn't whittled down by the globalists again.
And I think that, you know, the revenue aspect is different than the protection aspect.
I encourage President Trump to get on the campaign trail, to focus on the midterms and say, hey, with $600 to $700 billion, I can replace income tax for 90% of American taxpayers.
The total gross of income tax right now is $2.2 trillion.
But 90% of Americans, the working class, the middle class, they pay $600, $700 billion.
If you vote for my people in the midterms, I will commit to replacing income tax for 90% of Americans with $600, $700 billion in tariff revenue.
And let's codify this in Congress.
And I think, you know, I hear Rand Paul saying, referring to tariffs as taxes.
I say, you know, whatever your pronouns are on tariffs, fine.
But what gives the American citizen more freedom?
Funding the government with income tax or funding the government with tariffs, which I refer to as a toll to enter our market and be allowed to sell your product here.
So I think there's a lot of exciting action going to be coming up here on tariffs.
And I think I loved how President Trump came out hitting stronger, punching everybody back in the nose on this thing.
Really lifted my spirits.
steve bannon
Because he believes in Hamilton's the American system.
Take a minute, like you did yesterday.
A lot of people haven't heard this.
I know we've worked together for a long time, but talk to people what Hamilton.
In fact, Scott Besson, that's why I was so proud of Real America's voice covering the entire Besson speech.
Besson and Dallas went back and talked about Hamilton, the first Secretary of the Treasury, the American plan, and how this has really been core to the country from the beginning.
Give me a minute on it, John.
john gardner
This is how our nation was designed to function.
This is how the founding fathers intended the nation to pay its bills.
And they say in the first legislative act, the Tariff Act of 1789, they say to pay the bills of the federal government and to protect its manufacturers.
That's the first line of the first bill the founding fathers passed.
And Alexander Hamilton knew that when you protect industry, industry will grow.
And then Henry Clay came in with the American system after.
steve bannon
He froze.
Okay, let's see if we can get him in unfreezing.
While John said that, I just want to make sure we head the day with Cameron Kinsey.
President Trump's overall objective is to kind of reverse what they did with income tax back, you know, what, at the turn of the 20th century.
However, a lot of people are going around and say, President Trump's my president says I don't want to pay income.
No, that's not true.
He's trying to build up a system that shows over time that tariff revenues can replace the 2.5 trillion of the 5.5 trillion that we take in.
2.5 trillion comes from comes from the little guy, comes from you, the working class and middle class.
Tax Network USA, they've got a new number because they do a free assessment for you.
If you call them, if you go to tnusa.com, say that you're part of the war imposse, you get a free discovery call.
This is amazing.
Save you hundreds, if not thousands of dollars.
Or, and since there was such an overwhelming folks coming to this, they've set up a new number to make it easier.
866-513-5516.
You get a free discovery call.
They will sit there and go through all your issues.
And some people are saying, hey, President Trump's president, I need to pay it.
O contraire, our own Scott Besson now kind of oversees the IRS and President Trump's giving him a mandate.
Anything that's owed, it's got to be collected.
They need the cash.
Now, that's where it comes in, the bid and the ask, what the IRS thinks you owe and what you think you owe.
And that's what the free discovery calls all about.
So go check it today.
Do we have John Gardner back up?
John, Alexander Hamilton in the American plan.
President Trump, if anything is economically burned into the marrow of his soul, it is tariffs and protectionism, protecting American industries, using it as a forcing function to drive investment in high-value-added manufacturing back here and the revenues to make sure that people in the rest of the world are paying for what's going on here.
Why is that called the American Plan, sir?
john gardner
Because that's how the founding fathers intended our nation to run.
They didn't intend for the nation to be funded by income tax and making the citizen an indentured servant to the government.
They didn't intend for American industry to make their defense parts overseas in communist China our potential adversary.
They did not intend it for us to have our lose our human capital, people who know how to manufacture stuff to overseas nations.
That's not what they intended.
Alexander Hamilton and going on to Henry Clay and Abraham Lincoln saw the power of tariffs.
And we really built the nation up behind a tariff wall of 40 to 50%.
President Trump's been pretty light on people, to be quite honest with you.
Between 1824 and 1934, the average tariff rate was 40 to 50%.
And that's how we funded our country.
That's how we had these reserves of wealth that President Trump refers to, where we didn't even know how to spend the money.
steve bannon
It's how we during the Industrial Revolution, competing with the British, it's how we built a manufacturing superpower was because of that.
Very straightforward.
And Henry Clay, that's who really Lincoln looked up to.
And Lincoln was, you know, was a Whig at the time before they set up the Republican Party, but they were all for high tariffs, protectionism, and internal developments.
Leaked Plans for a Nuclear Strike 00:10:46
steve bannon
John, we got a bolt.
Where did they go?
Where do we get your writings now that you're in the middle of this tariff fight?
It's not going to stop.
The rhino, the neoliberal neocon rhinos, the far left who should be with us arguing this.
This shows you how screwed up these Marxists are, right?
They cannot, the Marxist jihadists hate this country so much, they will not consider looking out for the working men and women in the middle class in this country.
John Gardner, where do people go to get you?
john gardner
John GardnerAuthor.com or John Gardner, V-O-H at XGetter and Instagram.
And just grateful President Trump's protecting the middle class, and that's who the Marxists are targeting, the middle class.
steve bannon
Thank you, sir.
Appreciate you.
john gardner
Thanks.
steve bannon
Know that the Peter Navarros and all the team over there are working nonstop over the weekend to get these things stood up.
The 301s, the 232s, and already President Trump said, hey, the 122, throw 10% on it.
unidentified
Let's go.
steve bannon
We got a very fascinating discussion on the curvy couch at Fox and Friends with Ms. Duffy.
Let's go ahead and hear it.
rachel campos-duffy
So the president made a case for Operation Midnight Hammer saying we're going to do this operation and then we're not going to have to do anything else.
Remember, there was a lot of bragging about that.
And I think most people, even those who were skeptical about Operation going in and doing that, at the end were like, okay, I can deal with this because I don't want a greater war.
I think that the president needs to make a better case as to why this is in American interest to potentially go into a kinetic war.
I don't think the case has been made sufficiently for me.
If you read the New York Times, there's a lot of people who also feel that way.
If you're going to get us potentially into a war, you have to explain why it matters to us, not to other countries, but to us.
And so, by the way, you have Fetterman, a Democrat, a rare Democrat who agrees with the president.
Here's what he said last night on Jesse.
john fetterman
Clearly, I was the only Democrat last year, you know, like, why, how could you allow Iran to acquire a nuclear bomb?
Now, people have always said that.
Well, you know, he actually did something to actually prevent Iran from doing that.
If they have 900 pounds of near weapons grade uranium, why wouldn't you strike that?
Why wouldn't you hold them accountable that way?
And now here we are again, and now we've demonstrated that's the only thing Iran ever responds to is strength and power and hit them.
And if they want to hit them again, because I don't think you can't really trust and negotiate with them, you can't negotiate with cancer.
You have to attack it and go right at it with superior force.
rachel campos-duffy
I just want to mention, you know, I do feel sorry for the protesters.
Again, it's not clear to me that doing this move, that potentially going to war is necessarily going to help the protesters.
I'd like to think that was true.
Explain to me why.
Explain to me why I should risk my military-age boys potentially going into another war in the Middle East.
I thought we were done with that.
brian kilmeade
Seven presidents have had to deal with this.
They've never been more vulnerable from taking our hostages to the Iran-Contra scandal to the JCPOA.
You have the president, Joe Biden actually releasing some of the sanctions, allowing that evil regime to sustain itself.
They put a hit on our president multiple times.
They said they're trying to kill Brian Hook.
They're trying to kill John Bolton.
They're trying to kill Mike Pompeo.
And again, he threatened assassination.
And the Ayatollah says, we're going to be sinking your ships.
And we're not interested in getting rid of a nuclear program.
So if there's one menace in the Middle East that has been affecting America since 1979, it's been that country.
steve bannon
Well, kill me, I happen to be there in 79 and 80.
I couldn't disagree with you more.
I think Rachel, when Rachel Duffy, who is about as big a supporter of President Trump, you can get and tremendous common sense.
When she's sitting there just making says, hey, this thing is not, it hasn't been sold.
It hasn't been explained.
And once you get with Killman, you get the same old kind of, you know, oh, they're trying to go for Mike Pompeo, all this.
This is an incredibly, incredibly serious decision.
I know the president's weighing all options.
There's one that's kind of leaked out, an incremental plan.
Trista Parsi is going to join us, break it down why he thinks that doesn't work.
Short commercial break.
We'll be back in the warm in a moment.
unidentified
Singing through the bloody mist Here and I Killed and roamed In the winter of 26 Here's your host Stephen K. Bannon Okay, Trita Parsi joins us from Responsible Statecraft.
steve bannon
If we had Foundational for Democracies on one side, we'd probably have Trita on the other, even farther over than Kurt Mills.
Look, having been there and been around the region, I am all for if the Persian people are taking their hands and take down the Ayatollah and the Mulas.
Go for it.
You put him in power 47 years ago.
You got full right to take him out of power.
Scott Bessant, the president, I'm all for the economic warfare, taking down the currency.
I'm a big advocate.
We should have done a long time ago on the oil going out of the Straits of Hermuz to the Chinese Communist Party.
But I'm still pretty opposed to, I just don't see the benefit of regime change bombing.
I just think it's going to get us into a mess that we don't need to be in.
But Rachel Duffy, Trita, when she said that today, I think in perfect common sense and from her heart, tell me how Twitter, how Twitter, how's Twitter reacted to Rachel Duffy today?
trita parsi
I mean, they've gone after her hard simply for asking questions.
I mean, she wasn't even making a strong case.
She was just asking the question of explain this better to me because it does not make sense.
This was supposed to be done with.
You know, Trump himself said that this was a one and done and that this is over with.
Then Netanyahu, who comes again on December 29th and talks to Trump and convinces him or pushes him to go in this direction.
And now we are here again, the biggest mobilization of troops since the invasion of Iraq.
We're on the brink of war that no one has been able to explain.
How does this actually serve U.S. interests?
And by the way, Rachel is absolutely right because the latest polls show only 18% of the American public supports war with Iran.
Amongst Republicans, it's 35%, but 53% oppose it.
And I'm pretty sure that those 35% are probably the Fox News watchers.
But we're talking about a situation in which only 18% of the population as a whole support this.
In comparison, when Bush went into Iraq in 2003, which was a huge mistake, he had 79% of the population behind him.
And it still ended up destroying his.
steve bannon
This is the thing about the process.
Matt Boyle's on here last week with a poll that they had not commissioned, but were using.
I think they had 60% of Republicans who were enthusiastic or supported it.
But they asked the following question, what happens after the first casualty?
I think it went down to 16% when people realize this is going to be an effort because it's a country of 90 million people.
It's massive.
It's very difficult to get to.
But I want to go, I got a couple of minutes.
I want to go to something that I want to make sure that people understand.
There's been leaked or romped a flagpole that President Trump potentially in a range of alternatives because he's still negotiating, but he's got an alternative that they could be incremental hits.
He would do a hit and see how that played out and then do another hit and see if that could nudge the Ayatollah and Mulas to come along in his negotiation.
And I was quite impressed with your counter to that.
I just want to make sure the American people and the war posse have the information.
Walk me through what President Trump is allegedly thinking about and what is your response that how you think the regime is going to react.
trita parsi
So what has been leaked by the Wall Street Journal is that Trump's plan is that he's going to do a limited strike and then see if the Iranians will essentially cave at the negotiating table.
And if they do not, then he'll do more and he'll do more and he'll do more.
And it can go on for weeks and months until they either cave at the negotiating table or you have that type of regime change.
Now, here's why I think that is not likely to work out the way whoever in the White House has been putting this plan together.
First of all, at the negotiating table right now, at least what I've heard and what has come out, there really isn't much of an attractive offer, essentially saying give up your entire nuclear program.
The only thing we're promising you is that we won't bomb you and that we won't add any new sanctions, but all of the existing sanctions are going to remain in place.
Now, the existing sanctions are so suffocating for the Iranians that they're not going to give up their nuclear leverage, the thing that gets Trump to come back to them all the time, only to make sure that they don't get any new ones.
Because if they only have the current ones in place, you're going to see a slow decay of that economy in a way that is intolerable for them.
So they're not going to give that up.
And also they think that once they agree to that, Netanyahu is going to come back to the White House and he's going to say, well, what about the missiles?
And then there's going to be another threat of war saying, well, now you have to give up the missiles.
And by the time they give up all of those things, their belief, and I think they're right in this, once Iran has no deterrence against Israel, that's when Israel actually starts the war.
When Iran is completely defenseless, that's when the Israelis actually will go in and bomb even further.
So the whole path of giving in on these things are so unattractive in their view because it leads to the worst case scenario.
And as a result, if Trump chooses to do this limited strike, and he will do limited precisely because he doesn't want to have a large war.
But the calculation on the Iranian side is that a limited strike nevertheless brings about a larger defeat for them.
So their only chance is actually to strike back, however bad that chance is.
And clearly it's not good for them because they're nothing compared to the United States militarily in the larger picture.
But there's one thing they can do.
They can try to destroy Trump's presidency before they lose the war.
They close the strait of Hormuz.
They go after all installations in the region.
They shoot up oil prices.
They shoot up inflation in the United States, all things that will have a profound impact on the midterms.
Finish This Conversation 00:02:10
steve bannon
Can you hang on for a second?
We're going to actually go to Australia live for the next hour.
I want you to stick around.
I want to finish this conversation on the other side in the six o'clock show.
Just stick right there because I think we ought to have your best thinking about this.
Michael Lindell, brother, I know you're busy running for governor of Minnesota.
You got Forced Day McClubber in the race.
Right now, though, the world posse is interested in one thing late on a Friday afternoon.
And that is what deals do you have for him, sir?
mike lindell
Well, we've got two deals, everybody.
We're moving our factory this weekend.
And we have it's an overstock for clothes out sale on all our clothing line.
And we're going to combine that with the mega sale because the mega, the second annual mega sale that we had, we had cut that short, but I'm going to add this for this weekend because the towels and sheets, all the colors came in yesterday, you guys, $34.98 for those six-pack towels.
I know you all have been emailing me going, when are they coming in?
They're here now.
Geeza Dream Sheets.
Your favorite sheets in the world is low as $29.98.
And then you have the My Pillows, $14.98.
The mattress toppers as low as $99.98.
Go to mypillow.com forward slash war room, everybody.
You're going to get a free commemorative cup for any order today that we made back in the early 2021 where this all started, the election crime all started.
You guys get one of those free.
Once they're out, they're out, but you guys get them free with any order today.
All the closeout sale of our clothing line, everything, free shipping options still available for the war room posse.
Call 800-873-1062.
It's going to be a huge weekend.
You guys, get that stuff before it's closeout.
Warroom, promo code warmroom only.
This is an exclusive.
steve bannon
Okay, brother, we'll see you tomorrow morning.
Thank you.
Mike Lindell taking a break there in his run for governor to give us deals.
Okay, Warroom, Texas.
We're not going to do Warrum, Texas.
We'll be back on Monday.
We're going to do our international show we do every Friday, except from instead of Ben Harnwell in Rome, it'll be Steve Bennon in Texas with Ben Harnwell and Dr. Bradley Thayer in Australia.
Stick around.
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