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Speaker 1: If you go back thirty years ago, he wasn't a

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Speaker 1: smart person. You go back to Prime Time with him,

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Speaker 1: he wasn't a smart person, but he was a very

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Speaker 1: mean person. Joe Biden's a very mean person. People don't

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Speaker 1: understand that they've ruined lives, They've ruined families. They've ruined

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Speaker 1: so many people that they could have ruined me. They

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Speaker 1: tried to ruin me. But we're now in Air Force one,

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Speaker 1: flying nicely since the Middle East.

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Speaker 2: You're listening to the forty seven Morning Update with Ben Ferguson.

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Speaker 3: Good Thursday morning. Nice to have you with us on

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Speaker 3: the forty seven Morning Update. Ben Ferguson with you, and

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Speaker 3: we have two major stories for you this morning coming

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Speaker 3: from the Trump administration. First up, the media lied to

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Speaker 3: you when they said there was no chance we'd get

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Speaker 3: a deal with China anytime soon. Some were even saying

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Speaker 3: it wouldn't be done anytime this year. We now have

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Speaker 3: a major announcement from the White House on a trade

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Speaker 3: negotiation deal with China, and I'll give you the details

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Speaker 3: in just a moment. Up next, what happened in the

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Speaker 3: China trade deal that affecting every American. It's the forty

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Speaker 3: seven morning update, and it starts right now, story number one,

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Speaker 3: doom and gloom. That's what the media wanted you to

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Speaker 3: believe that idea would not be done even this year

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Speaker 3: with China. Well, guess what the White House and now

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Speaker 3: and say significant breakthrough in trade negotiations with China, marking

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Speaker 3: a positive step forward resolving the ongoing trade tensions between

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Speaker 3: the two nations. When did this happen? After two days

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Speaker 3: of constructive talks in Geneva, the US Treasury Secretary Scott

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Speaker 3: Descent and the Trade Representative Jamison Greer reported substantial progress

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Speaker 3: and discussions with Chinese Vice Premiere, and both sides of

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Speaker 3: express optimism about the outcome. I want you to hear

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Speaker 3: what the Treasury Secretary had to say after the meeting

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Speaker 3: on Sunday.

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Speaker 4: And I think that led to a great deal of

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Speaker 4: the productivity we've seen. But I can tell you that

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Speaker 4: the talks were productive. We had the Vice Premiere to

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Speaker 4: vice ministers who were integrally involved, Ambassador Jamison and myself

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Speaker 4: and I spoke to President Trump, as did Ambassador Jamison

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Speaker 4: last night, and he is fully informed of what.

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Speaker 5: Is going on.

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Speaker 4: So there will be a complete briefing tomorrow morning.

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Speaker 3: Complete briefing from the White House, and yet again the

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Speaker 3: media lied to you just days ago saying this was

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Speaker 3: going to take at least a year to get done.

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Speaker 3: If it was going to get done. The US Trade

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Speaker 3: representative in Geneva also talking about how important this was

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Speaker 3: and how close they were to understanding each other in

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Speaker 3: the trade negotiations.

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Speaker 5: I want to echo the Secretary's remarks respect to the

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Speaker 5: Swiss government. They've been so welcoming and they posted this

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Speaker 5: and everything has gone off lawlessly and we appreciate that.

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Speaker 5: And again the Chinese negotiators, Vice Premier Leoho, Vice Minister

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Speaker 5: Lee Chendong, and Vice Minister Li al Men worked very diligently.

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Speaker 5: And these are very tough negotiators. A couple of them

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Speaker 5: I know from before and have had past interactions with them.

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Speaker 5: And this was, as the Secretary pointed out, a very

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Speaker 5: constructive two days. It's important to understand how quickly we

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Speaker 5: were able to come to agreement, which reflects that perhaps

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Speaker 5: the differences were not so large as maybe thought. That

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Speaker 5: being said, there was a lot of groundwork that went

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Speaker 5: into these two days. Just remember why we're here in

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Speaker 5: the first place in the United States, as a massive

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Speaker 5: one point two trillion dollar trade deficit. So the President

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Speaker 5: declared a national emergency and imposed tariffs, and we're confident

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Speaker 5: that the deal we struck with our Chinese partners will

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Speaker 5: help us to resolve work towards resolving that national emergency.

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Speaker 3: Donald Trump made it clear from the very beginning, there

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Speaker 3: is a trade emergency and the US having that massive

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Speaker 3: one point two trillion dollar trade deficit, and that is

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Speaker 3: exactly why the President declared it. We're confident that the

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Speaker 3: deal we struck with our Chinese partners will help us

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Speaker 3: work towards resolving that national emergency. Now, President Trump characterized

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Speaker 3: the negotiations that move towards a total reset of US

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Speaker 3: China trade relations, emphasizing the importance of opening China's markets

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Speaker 3: to American businesses. Chinese officials also echoing this sentiment, describing

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Speaker 3: the talks as candid and constructive and highlighting the establishment

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Speaker 3: of a new consultation mechanism for ongoing economic dialogue quote unquote. Now,

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Speaker 3: the announcement has already had a positive impact on the

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Speaker 3: financial markets as well, stock futures rising and the US

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Speaker 3: dollars strengthening against other currencies. This development is seen as

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Speaker 3: a hopeful sign for American farmers, retailers, and consumers who

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Speaker 3: have been affected by the tariff escalations. Further details of

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Speaker 3: the agreement are expected to be disclosed in a joint

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Speaker 3: statement today, which will provide more insight into the specific

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Speaker 3: measures agreed upon to ease trade tensions and foster economic

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Speaker 3: cooperation between the US and China. If there's one thing

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Speaker 3: that's very clear now, Donald Trump really is the best

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Speaker 3: negotiator in the world. And this will make the media

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Speaker 3: and liberals lose their mind because they don't really care

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Speaker 3: about Americans. They care about Donald Trump being a failure

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Speaker 3: at all costs, and yet again he proved them wrong.

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Speaker 2: Now story number two.

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Speaker 3: Now, the other big story is the fact that we

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Speaker 3: now have a significant movement when it comes to the

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Speaker 3: tariffs with China. The Trump White House has just posted

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Speaker 3: a statement on the US and China's historic trade deal,

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Speaker 3: putting it this way, American tariffs on China we're at

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Speaker 3: one hundred and forty five percent now they're at thirty percent.

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Speaker 3: China's tariffs on America one hundred and twenty five percent

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Speaker 3: now at ten percent. And Donald Trump was the one

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Speaker 3: that made all of this possible. White House Press Secretary

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Speaker 3: Caroline Levey saying it this way to Fox News.

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Speaker 1: First off, your reaction and what could you tell us

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Speaker 1: about the China deal that has tariffs dropping from one

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Speaker 1: hundred and forty five one twenty five respectively to thirty

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Speaker 1: and ten.

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Speaker 6: This is an extraordinary first step in the right direction,

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Speaker 6: and thanks to the strength of President Trump, Secretary Besant

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Speaker 6: and Ambassador Greer were able to cut this initial deal

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Speaker 6: with China. China agreed to reduce their tariffs on the

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Speaker 6: United States by one hundred and fifteen percent. They also

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Speaker 6: agreed to continue having discussions about opening Chinese markets to

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Speaker 6: American made products and goods. And they also agreed to

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Speaker 6: continue seriously discussing the grave impact that Chinese produced fetanol

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Speaker 6: is having right here in the United States and our people.

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Speaker 6: So this is a great first step for the American public,

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Speaker 6: and Secretary Best, Ambassador Greer, and of course President Trump

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Speaker 6: will continue to goias with China so we can hopefully

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Speaker 6: inevitably get to a fair and comprehensive, big trade deal.

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Speaker 3: Now, this is going to be a pause for ninety days,

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Speaker 3: and I want you to hear exactly what the White

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Speaker 3: House said to me earlier today. This is President Trump

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Speaker 3: quote securing another historic deal. Today, on the heels of

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Speaker 3: the brand new deal with the United Kingdom, President Trump

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Speaker 3: reached an agreement with China to reduce China's tariffs and

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Speaker 3: eliminate retaliation, also retain a US baseline tariff on China,

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Speaker 3: and set a path for future discussions to open market

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Speaker 3: access for American exports. You've just heard the White House

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Speaker 3: say that on TV. Today. The United States issued the

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Speaker 3: first joint statement on trade in many years with China

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Speaker 3: after successfully negotiating over the weekend in Geneva, Switzerland. The

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Speaker 3: White House says, quote, Both parties affirm the importance of

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Speaker 3: the critical bilateral economic and trade relationship between both countries

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Speaker 3: and the global economy, saying this, for far too long,

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Speaker 3: unfair trade practices and America's massive trade deficit with China

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Speaker 3: have fueled the offshoring of American jobs and the decline

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Speaker 3: of our manufacturing sector. In reaching an agreement, the White

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Speaker 3: House says, the United States and China will each lower

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Speaker 3: their tariffs by one hundred and fifteen percent, while retaining

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Speaker 3: an additional ten percent tariff. Other US measures will remain

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Speaker 3: in place. Both sides will take these actions by May

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Speaker 3: fourteenth of twenty twenty five, this trade deal is a

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Speaker 3: win for the United States, demonstrating President Donald Trump's unparalleled

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Speaker 3: expertise in securing deals that benefit the American people. Then

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Speaker 3: the White House said this the Chinese action, saying quote,

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Speaker 3: China will remove the retaliatory tariffs in announced since April

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Speaker 3: the fourth, and will also suspend to remove the non

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Speaker 3: tariff countermeasures taken against the United States since April the second.

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Speaker 3: China will also suspend its initial thirty four percent tariff

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Speaker 3: of the United States that it announced on April fourth

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Speaker 3: for ninety days. It will remain at ten percent tariff

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Speaker 3: during the period of the pause. And then they say,

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Speaker 3: under American action, the United States will remove the additional

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Speaker 3: tariff it imposed on China on April eighth and April ninth,

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Speaker 3: but will retain all duties imposed on China prior to

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Speaker 3: April second, including Section three h one tariffs, Section two

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Speaker 3: thirty two tariffs, and tariffs imposed in response to the

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Speaker 3: FETNYL National Emergency Invoke pursuant to the International Emergency Economic

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Speaker 3: Powers Act, and also the most Favored Nation's tariffs. They

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Speaker 3: went on to say the United States will suspend their

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Speaker 3: thirty four percent reciprocal tariff impose on April second for

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Speaker 3: ninety days, and the ten percent tariff that will remain

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Speaker 3: in place is set for a fair baseline that encourages

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Speaker 3: domestic production, strengthens our supply chains, and ensures that American

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Speaker 3: trade policy supports American workers first, instead of undermining them

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Speaker 3: them by imposing reciprocal tariffs. President Trump is ensuring our

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Speaker 3: trade policy works for the American economy and addresses our

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Speaker 3: national emergency brought on by our growing and persistent trade deficits,

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Speaker 3: and levels the playing field for American workers and our producers.

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Speaker 3: Unlike previous administrations, the White House said President Trump took

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Speaker 3: a tough, uncompromising stance on China to protect American interests

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Speaker 3: and stop unfair trade practices. They also said this is

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Speaker 3: working towards a rebalancing. When these changes come into effect,

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Speaker 3: the White House says both nations agree to establish a

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Speaker 3: mechanism to continue important discussions about trade economics. The US

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Speaker 3: goods trade deficit with China was two hundred ninety four

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Speaker 3: billion in twenty twenty four, the largest with any trade partner.

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Speaker 3: This agreement works towards addressing these imbalances to deliver real,

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Speaker 3: lasting benefits to American workers, American farmers, and American businesses,

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Speaker 3: the White House saying this finally, as our nations continue

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Speaker 3: these discussions. China will be represented by he lefing the

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Speaker 3: Vice Premier of the State Council. The United States will

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Speaker 3: be represented by Scott Pascent, the Secretary of Treasury, and

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Speaker 3: Jasmine Greer, United States Trade Representative. They also said addressing

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Speaker 3: the fetanyl crisis is the most important matter as well

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Speaker 3: as the United States and China will take aggressive action

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Speaker 3: to stem the flow of fetanol and other precursors from

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Speaker 3: China to elicit drug production in North America. If you

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Speaker 3: look at what the President has been able to do

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Speaker 3: in just the last couple of days, here it is,

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Speaker 3: in just seven days, President Trump has secured a historic

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Speaker 3: UK trade deal, a massive China trade deal, the release

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Speaker 3: of an American hostage, the ceasefire with India and Pakistan,

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Speaker 3: the ceasefire with the Huthis. And this is exactly what

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Speaker 3: so many Americans voted for, and Donald Trump paying off

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Speaker 3: on his promise to put Americans first and protecting all

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Speaker 3: of us.

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Speaker 2: Thank you for listening to the forty seven Morning Update

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Speaker 2: with Ben Ferguson. Please make sure you hit subscribe wherever

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Speaker 2: you're listening to this podcast right now and for more

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Speaker 2: in depth news, also subscribe to the Ben Ferguson podcast,

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Speaker 2: and we will see you back here tomorrow