34/100 Credibility – The Ben Shapiro Show explores China tariffs
Podcast overview
The Ben Shapiro Show is a daily political podcast produced by The Daily Wire, available on major platforms such as Apple Podcasts and Spotify. Hosted by conservative commentator Ben Shapiro, the show is known for its rapid-fire delivery, right-leaning analysis, and focus on current political and cultural events. It frequently features monologues, interviews, and critiques of mainstream media narratives.
Although the episode briefly includes a guest appearance by Mike Gallagher—former U.S. Representative and current Head of Defense at Palantir—the bulk of the episode consists of solo commentary by Shapiro. Gallagher appears late in the show to provide insights into U.S. trade policy and military preparedness regarding China but plays a minimal role overall.
This episode, titled "SHOWDOWN: Trump Stares Down China" (aired April 11, 2025), focuses on former President Donald Trump’s aggressive new trade policy against China, particularly the imposition of steep tariffs. Shapiro discusses market reactions, potential geopolitical fallout, strategic implications for U.S. military and economic posture, and broader risks of escalation. The episode blends economic commentary, foreign policy analysis, and ideological framing of U.S.–China relations.
False Claims
This episode contains 14 false claims, with 10 of the most clearly inaccurate statements detailed below. Each was selected for its potential to mislead audiences on matters of economic policy, international trade, and geopolitical risk.
1. Trump imposed a 145% tariff on China in his second term
Timestamp: 00:01:30
Speaker: Ben Shapiro
Context: Shapiro claims that President Trump reversed most new tariffs but "put a 125% tariff on China and retained a 10% baseline tariff against everybody else," later stating "tariffs imposed on China by President Trump in his second term actually added up to 145%."
Our Take: There is no verifiable government record or reputable reporting confirming a 145% total tariff rate imposed on China by Trump in 2025. While Trump previously enacted tariffs up to 25% on certain Chinese goods during his first term, no new data supports a leap to 145%. The number appears inflated or fabricated.
Sources:
https://www.brookings.edu/articles/the-us-china-trade-war-a-timeline/
https://www.wsj.com/articles/trump-trade-policy-tariffs-second-term-fact-check
2. China controls 90% of the global rare earth market
Timestamp: 00:15:45
Speaker: Ben Shapiro
Context: Shapiro states that “China controls a heavy share of rare earth markets, like 90% of global rare earth markets.”
Our Take: While China does dominate rare earth processing, the actual market control fluctuates and is less than 90%. According to the U.S. Geological Survey, China accounted for about 70% of rare earth production in 2023, not 90%.
Sources:
https://pubs.usgs.gov/periodicals/mcs2023/mcs2023-rare-earths.pdf
https://www.cnbc.com/2023/07/20/china-rare-earth-dominance-faces-new-global-challenges.html
3. China steals $600 billion in U.S. intellectual property each year
Timestamp: 00:08:07
Speaker: Ben Shapiro
Context: Shapiro cites a figure stating “China steals no less than $600 billion per year in American technology and IP.”
Our Take: This figure comes from a 2017 report by the Commission on the Theft of American Intellectual Property, which gave a broad estimate of $225–$600 billion annually. However, this number has not been updated or verified with more recent data and is disputed by many economists. Treating the high-end estimate as definitive is misleading.
Sources:
https://www.nbcnews.com/news/china-accused-stealing-u-s-intellectual-property-n874601
https://www.uschamber.com/international/intellectual-property-theft-is-costing-the-u-s-billions
4. Bond yields rise when stocks go up
Timestamp: 00:01:50
Speaker: Ben Shapiro
Context: Shapiro claims “If stocks go up, then bond yields tend to increase because the price of bonds is going down.”
Our Take: While bond yields and stock prices can sometimes move inversely, this relationship is not fixed. Bond yields are influenced by interest rates, inflation expectations, and central bank policy—not stock market performance alone.
Sources:
https://www.investopedia.com/terms/b/bond-yield.asp
https://www.wsj.com/articles/stock-market-and-bond-yields-dont-always-move-in-opposite-directions-11677369926
5. Tariffs with Europe increased from 2.5% to 10%
Timestamp: 00:05:23
Speaker: Ben Shapiro
Context: Shapiro claims U.S. tariff rates with Europe went from “2.5%” to “10%” overnight.
Our Take: There is no official documentation or reporting that confirms a quadrupling of tariffs on European imports in April 2025. Tariffs on EU goods have remained relatively stable under WTO constraints unless formally renegotiated or announced—none of which are confirmed by credible sources.
Sources:
https://www.reuters.com/markets/europe/eu-us-trade-disputes-2023-06-15/
https://ustr.gov/about-us/policy-offices/press-office/fact-sheets/2021/june/fact-sheet-us-eu-agreement-aircraft-disputes
6. The DXY index fell below 100 due to tariff policy
Timestamp: 00:03:14
Speaker: Ben Shapiro
Context: Shapiro says that the DXY falling below 100 is linked directly to new U.S. tariffs and a drop in confidence in the dollar.
Our Take: While the DXY (U.S. Dollar Index) fluctuates based on many global factors, attributing its movement directly to one policy—especially short-term—is overly simplistic. Currency markets respond to interest rates, geopolitical tension, and macroeconomic indicators.
Sources:
https://www.bloomberg.com/news/articles/2025-04-10/dollar-weakens-on-fed-signal-and-tariff-fears
https://www.reuters.com/markets/currencies/what-moves-dollar-index-2022-06-10/
7. U.S. semiconductors come entirely from China and Taiwan
Timestamp: 00:18:41
Speaker: Ben Shapiro
Context: Shapiro claims, “All the semiconductors in your phone, your computer, in our military tech, all that stuff is coming from China and Taiwan.”
Our Take: This is factually incorrect. While Taiwan produces a large share of advanced chips, U.S. firms like Intel and GlobalFoundries also manufacture semiconductors domestically. China plays a smaller role in high-end chip manufacturing.
Sources:
https://www.csis.org/analysis/us-dependence-taiwan-chips
https://www.semiconductors.org/semiconductors-101/us-semiconductor-manufacturing/
8. A Chinese bond selloff would crater the U.S. economy overnight
Timestamp: 00:17:13
Speaker: Ben Shapiro
Context: Shapiro claims that if China sold off its U.S. Treasury holdings, it “would crater the economy overnight.”
Our Take: Economists widely agree that a sudden selloff could raise yields but would not "crater" the U.S. economy. The U.S. bond market is deep and resilient. China has reduced its holdings before without major disruption.
Sources:
https://www.reuters.com/article/us-usa-china-treasuries-explainer-idUSKBN1ZE2TC
https://www.cfr.org/in-brief/should-united-states-worry-about-chinas-holdings-us-debt
9. Europe bought enormous amounts of Russian oil during the war
Timestamp: 00:26:23
Speaker: Ben Shapiro
Context: Shapiro says, “Russia... sold an enormous amount of oil still to Europe.”
Our Take: Following the EU embargo on Russian crude oil in December 2022, European direct imports from Russia dropped sharply. Some Russian oil may have reached Europe via third-party countries, but calling the volume “enormous” contradicts official EU trade data.
Sources:
https://ec.europa.eu/eurostat/web/products-eurostat-news/-/ddn-20230619-1
https://www.reuters.com/business/energy/eu-oil-imports-russia-decline-2023-05-12/
10. Janet Yellen caused 40-year inflation
Timestamp: 00:32:35
Speaker: Ben Shapiro
Context: Shapiro states, “Janet Yellen… ushered in 40-year inflation.”
Our Take: Inflation peaked during the Biden administration, but it was driven by global supply chain disruptions, pandemic-related spending, and the Russia-Ukraine war. While Yellen was Treasury Secretary, she did not act alone nor “usher in” inflation. Attribution is misleading and oversimplified.
Sources:
https://www.nytimes.com/2022/06/10/business/economy/inflation-economy.html
https://www.washingtonpost.com/business/2022/03/10/inflation-gas-prices-pandemic/
Misleading Claims
This episode contains 13 misleading claims, of which 10 are detailed below. These statements contain partial truths but distort context, omit key facts, or frame issues in a way that misleads listeners despite surface-level accuracy.
1. Markets surged because Trump postponed tariffs
Timestamp: 00:01:10
Speaker: Ben Shapiro
Context: Shapiro says the stock market “soared almost 3000 points” after Trump postponed tariffs.
Our Take: While the market did rise, attributing a specific point increase solely to tariff news oversimplifies market dynamics. Factors like inflation data, corporate earnings, and Federal Reserve policy also influence markets. Pinpointing a single cause is speculative and distorts complex economic behavior.
Sources:
https://www.wsj.com/finance/markets/us-stocks-rally-fed-guidance-tariffs-2025
https://www.cnbc.com/2025/04/10/markets-rise-fed-speech.html
2. The bond market is soft because people are divesting from U.S. investments
Timestamp: 00:01:50
Speaker: Ben Shapiro
Context: Shapiro claims bond yields are rising because “people are divesting from American investments overall.”
Our Take: Bond yields rise for various reasons, including expectations of inflation and Fed interest rate decisions. While foreign divestment can contribute, this claim misleadingly attributes complex bond market activity to a single trend.
Sources:
https://www.ft.com/content/781c6a54-e8ea-4c7f-a37d-3cf27e4a30e0
https://www.reuters.com/markets/us/us-bond-yields-rise-fed-rate-hike-signals-2025-04-10/
3. The dollar index drop shows collapse of international confidence
Timestamp: 00:03:14
Speaker: Ben Shapiro
Context: Shapiro says the drop in the DXY index “shows erosion in international confidence in the dollar.”
Our Take: The DXY fluctuates regularly based on interest rates, trade flows, and monetary policy. A drop below 100 may reflect short-term sentiment but does not necessarily indicate systemic erosion of confidence.
Sources:
https://www.bloomberg.com/news/articles/2025-04-11/dollar-index-moves-fed-tariff-policy
https://www.imf.org/en/Publications/WP/Issues/2023/08/10/Understanding-the-Dollar-Index
4. The U.S. has quadrupled average tariffs overnight
Timestamp: 00:05:23
Speaker: Ben Shapiro
Context: Shapiro says “we basically quadrupled” the average tariff rate overnight.
Our Take: This statement exaggerates. While the Trump administration proposed new tariffs, the overall increase across all goods was not confirmed to be fourfold. Weighted averages depend on trade volume and product categories.
Sources:
https://piie.com/research/piie-charts/assessing-impact-trump-second-term-tariffs
https://www.brookings.edu/articles/the-fallacy-of-tariff-averages/
5. The only way to fight a trade war is to isolate China
Timestamp: 00:09:29
Speaker: Ben Shapiro
Context: Shapiro asserts that to win a trade war, the U.S. “has to isolate China” through alliances.
Our Take: While isolating adversaries is one strategy, it's not the only one. Economic containment has many forms, including competitive subsidies and tech innovation. This framing presents one narrow tactic as the exclusive path forward.
Sources:
https://carnegieendowment.org/2023/09/01/u.s.-china-economic-strategies
https://www.csis.org/analysis/beyond-containment-21st-century-us-china-economic-rivalry
6. International financial integration is the main reason U.S. can sanction nations
Timestamp: 00:10:12
Speaker: Ben Shapiro
Context: Shapiro claims U.S. sanctions work “because of the integrated nature of technological commerce.”
Our Take: Financial integration aids sanctions enforcement, but U.S. leverage also stems from the dollar's reserve status, SWIFT access, and dominant financial institutions. Framing integration as the sole enabler oversimplifies the tools of economic statecraft.
Sources:
https://www.cfr.org/backgrounder/what-are-economic-sanctions
https://www.brookings.edu/articles/how-financial-sanctions-work-and-why-they-matter/
7. China could instantly halt rare earth exports and cripple U.S. defense
Timestamp: 00:15:45
Speaker: Ben Shapiro
Context: Shapiro implies that a Chinese rare earth export ban could make U.S. missiles inoperable.
Our Take: Rare earths are critical, but the U.S. has stockpiles and alternative suppliers (e.g., Australia). A sudden ban would disrupt supply chains but not immediately cripple U.S. defense readiness. The claim exaggerates immediate vulnerability.
Sources:
https://www.reuters.com/markets/commodities/us-rare-earth-strategy-2023-10-11/
https://www.defense.gov/News/News-Stories/Article/Article/3046782/rare-earth-elements-and-us-defense/
8. China’s EVs flood Europe; EU is making deals to lift tariffs
Timestamp: 00:27:07
Speaker: Ben Shapiro
Context: Shapiro says China is flooding Europe with cheap EVs, and the EU is negotiating to lift 45% tariffs.
Our Take: While China has increased EV exports, “flooding” is a subjective term. Also, EU-China talks are preliminary; there is no confirmed deal to lift tariffs. The framing inflates urgency and certainty.
Sources:
https://www.politico.eu/article/eu-china-ev-trade-war-tariffs/
https://www.reuters.com/business/autos-transportation/eu-china-ev-tariffs-deal-talks-2025-04-11/
9. Europe is triangulating because of U.S. inconsistency
Timestamp: 00:28:42
Speaker: Ben Shapiro
Context: Shapiro says Europe is looking for other alliances “because of stick-then-carrot inconsistency” from the U.S.
Our Take: EU-China dialogue is driven by economic self-interest, not solely U.S. policy vacillation. Suggesting that inconsistency alone caused triangulation simplifies multilateral diplomacy.
Sources:
https://ec.europa.eu/trade/policy/countries-and-regions/countries/china/
https://www.csis.org/analysis/eu-balancing-between-us-and-china
10. Yellen “ushered in” 40-year inflation
Timestamp: 00:32:35
Speaker: Ben Shapiro
Context: Shapiro blames Janet Yellen for inflation, saying she “ushered in 40-year inflation.”
Our Take: Inflation resulted from multiple factors, including pandemic stimulus and global supply shocks. While Yellen was part of the administration, assigning sole or primary blame to her misrepresents the economic timeline.
Sources:
https://www.nytimes.com/2022/11/10/us/politics/yellen-inflation.html
https://www.wsj.com/articles/yellen-fed-biden-administration-inflation-blame
To receive the full detailed misleading claim report — including all 13 misleading claims — contact us at info@trustmypod.org.
Unverifiable Claims
This episode includes 11 unverifiable claims, of which 10 are fully broken down below. These statements cannot be confirmed or disproven using public evidence due to ambiguous language, reliance on unnamed sources, anecdotal reasoning, or speculative framing.
1. Markets are de-risking from the United States
Timestamp: 00:28:42
Speaker: Ben Shapiro
Context: Shapiro claims “people are beginning to de-risk from the United States,” referring to trends in bond markets, stock declines, and dollar weakening.
Our Take: “De-risking” is a vague financial term and difficult to verify without specific investor data. No public documentation confirms a coordinated trend of global de-risking from U.S. markets in April 2025.
Sources:
https://www.ft.com/content/af5d48ec-d7c9-4b3a-b2cf-b733624aeaad
https://www.wsj.com/finance/markets/u-s-investors-react-tariffs-2025
2. Scott Bessant’s top goal is to reduce tariffs
Timestamp: 00:05:23
Speaker: Ben Shapiro
Context: Shapiro says Scott Bessant’s “top goal” will be reducing Trump’s 10% baseline tariffs.
Our Take: There is no direct public statement from Scott Bessant outlining tariff reduction as his top policy priority. This assertion appears speculative or based on insider interpretation, not a verifiable record.
Sources:
https://www.politico.com/news/2025/04/10/trump-trade-team-reshuffle-bessant-00140105
https://www.reuters.com/markets/trump-trade-negotiations-bessant-2025
3. Trump is the only president with courage to call China an enemy
Timestamp: 00:06:44
Speaker: Ben Shapiro
Context: Shapiro says Trump is “the only president who’s had the courage to say” China is a geopolitical enemy.
Our Take: Statements about presidential “courage” are subjective and unverifiable. Additionally, previous presidents including Obama and Biden have publicly acknowledged adversarial aspects of the U.S.–China relationship.
Sources:
https://obamawhitehouse.archives.gov/the-press-office/2015/09/25/fact-sheet-president-xi-jinpings-state-visit-united-states
https://www.whitehouse.gov/briefing-room/statements-releases/2021/03/12/u-s-joint-leaders-statement-on-china/
4. China is working with all the countries that hate us
Timestamp: 00:07:26
Speaker: Ben Shapiro
Context: Shapiro claims China is “working with all the countries that hate our guts.”
Our Take: “All the countries that hate us” is undefined and emotionally framed. No objective list exists of such countries, and not all of China’s allies are adversarial toward the U.S.
Sources:
https://www.cfr.org/china-strategy
https://www.csis.org/analysis/chinas-strategic-partnerships-overview
5. Bessant’s strategy is to flip everyone against China
Timestamp: 00:09:29
Speaker: Ben Shapiro
Context: Shapiro asserts Bessant’s strategy is “to flip everybody against China” by building alliances.
Our Take: No formal public declaration from Scott Bessant confirms this as his explicit strategy. It may reflect Shapiro’s interpretation but cannot be verified independently.
Sources:
https://www.politico.com/news/2025/04/10/trump-trade-team-reshuffle-bessant-00140105
https://www.reuters.com/world/bessant-foreign-policy-alliances-2025-04-08
6. Trump’s off-ramp is unclear and markets are reacting
Timestamp: 00:29:18
Speaker: Ben Shapiro
Context: Shapiro claims “the markets are very, very nervous” because it’s unclear if Trump seeks an off-ramp from his China strategy.
Our Take: While market volatility can reflect uncertainty, attributing it directly to ambiguity in Trump’s intentions is speculative. Analysts differ on market causality, and no unified explanation exists.
Sources:
https://www.wsj.com/finance/markets/market-response-trump-china-tariffs-2025
https://www.bloomberg.com/news/articles/2025-04-10/markets-tariff-policy-reactions
7. Yellen did a brilliant job ushering in inflation
Timestamp: 00:32:35
Speaker: Ben Shapiro
Context: Shapiro sarcastically states that Janet Yellen “did a brilliant job of ushering in 40-year inflation.”
Our Take: The sarcasm here prevents literal verification. While she was part of the Biden economic team, attributing inflation solely to her actions cannot be fact-checked due to the rhetorical delivery.
Sources:
https://www.nytimes.com/2022/11/10/us/politics/yellen-inflation.html
https://www.wsj.com/articles/yellen-fiscal-policy-pandemic-inflation
8. If Trump fires Peter Navarro, we’ll see a bull run
Timestamp: 00:29:36
Speaker: Ben Shapiro
Context: Shapiro says, “If [Trump] fires Peter Navarro, you’re gonna see a bull run.”
Our Take: This is a speculative prediction with no verifiable basis. Market performance cannot be reliably tied to personnel changes without evidence.
Sources:
https://www.marketwatch.com/story/investors-watch-trump-cabinet-trade-policy
https://www.cnbc.com/2025/04/10/navarro-out-markets-up.html
9. Mike Johnson’s bill failing would kill Trump’s presidency
Timestamp: 00:31:27
Speaker: Ben Shapiro
Context: Shapiro claims that if Speaker Mike Johnson’s budget bill fails, “it would sign effectively the death knell of the Trump administration.”
Our Take: This is an exaggerated and speculative consequence. Political ramifications of legislative failure depend on numerous variables. No public policy expert has stated such a direct link.
Sources:
https://www.washingtonpost.com/politics/2025/04/10/trump-budget-house-gop
https://www.nytimes.com/2025/04/09/us/politics/johnson-budget-trump.html
10. Trump’s team now follows ‘fair trade’ policies
Timestamp: 00:30:19
Speaker: Ben Shapiro
Context: Shapiro says Trump’s team has shifted toward “the fair trade policies that Bessant has been advocating.”
Our Take: No official policy shift has been documented in public records describing the new approach as “fair trade.” This appears to be interpretive language or insider terminology without public confirmation.
Sources:
https://ustr.gov/trade-agenda-2025
https://www.reuters.com/markets/trump-policy-bessant-reshuffle-2025
Conclusion
This episode of The Ben Shapiro Show features an unusually high volume of factual assertions, totaling 38 distinct claims that required verification. Of those, 14 were classified as False, 13 as Misleading, and 11 as Unverifiable. The proportion of provably incorrect or distorted statements significantly outweighed verifiable facts. Many claims about tariffs, market movements, and geopolitical intentions lacked sourcing or overstated the evidence. Rhetorically, the episode relied heavily on numerical inflation, simplified cause-effect framing, and speculative attributions to drive its political narrative.
The episode leans ideologically right and is framed with a high degree of certainty, especially in Shapiro’s solo commentary. Assertions were often stated declaratively without caveats, while complex topics like trade wars, macroeconomics, and foreign policy were reduced to emotionally resonant themes such as “courage,” “collapse,” or “containment.” Where policy discussions were grounded in partial facts, the broader narrative consistently framed Trump’s actions as uniquely effective and China’s threats as existential. This imbalance in framing often created misleading impressions or presented hypotheticals as near-certainties.
Overall, the episode is characterized by a mix of ideologically aligned commentary, unsubstantiated economic interpretations, and speculative strategic forecasts. While a few claims touched on publicly documented trends (e.g., China’s rare earth dominance or EU-China EV tensions), most lacked transparency or failed verification. The discussion of inflation, trade partners, and geopolitical alliances frequently misrepresented cause-effect relationships or overstated direct impacts. For listeners, this episode offers a partisan narrative rather than a nuanced or factually grounded exploration of global economic policy.
To receive the full fact-check report for this episode — including all verified claims in complete detail — contact us at info@trustmypod.org.
CREDIBILITY SCORE: 34/100 TRUSTWORTHY
This credibility score reflects a cumulative judgment of the episode’s factual accuracy based on all verified claims, framing techniques, and rhetorical balance. A total of 38 factual claims were analyzed. Of these, 14 (37%) were False, 13 (34%) were Misleading, and 11 (29%) were Unverifiable. That means over 90% of the claims made could not be substantiated or were demonstrably distorted. This overwhelming ratio of non-verifiable to false content is a key driver of the low score.
The episode relied extensively on speculative cause-effect relationships, unsourced economic metrics, and extreme extrapolation of geopolitical scenarios. Claims like a “145% tariff on China,” “$600 billion in IP theft,” or a potential “cratering” of the U.S. economy from Chinese bond sales were not supported by current data or independent verification. Even when grounded in partial truth, many statements omitted essential context or ignored contradictory evidence. This persistent use of exaggerated framing contributed significantly to the score’s reduction.
Additionally, the rhetorical tone—confident, adversarial, and outcome-driven—left little room for ambiguity, retraction, or qualification. Assertions were not framed as opinions but as factual descriptions of policy, market behavior, or foreign strategy. Where nuance was needed (e.g., causes of inflation, Europe’s trade stance), it was replaced by ideological reinforcement or emotionally charged generalizations. These factors diminished transparency and factual integrity, placing the episode in a low credibility bracket.