WEBVTT - Defending Trade - April 10th, Hour 2 0:00:00.560 --> 0:00:03.600 Thanks Scott chan An hour two Sean Hannity's show, Toll Free, 0:00:03.800 --> 0:00:06.000 it is eight hundred and nine foot one Shawn. If 0:00:06.040 --> 0:00:08.239 you want to be a part of the program. Later 0:00:08.280 --> 0:00:11.920 in the program, the President had a full cabinet meeting 0:00:11.960 --> 0:00:15.360 earlier today, and if you want to hear with America's 0:00:15.480 --> 0:00:20.600 future and how dramatically different and open and transparent, and 0:00:20.640 --> 0:00:26.239 how transformational and consequential everything that every department is now 0:00:26.280 --> 0:00:29.760 doing to get this country back to constitutional order. It's 0:00:29.800 --> 0:00:33.760 actually pretty inspiring, and it's pretty amazing what every single 0:00:34.320 --> 0:00:38.800 person is up to right now. And it's amazing. 0:00:38.840 --> 0:00:39.040 Now. 0:00:39.159 --> 0:00:43.720 The big issue before everybody is, after fifty sixty years 0:00:43.720 --> 0:00:49.040 of getting ripped off, abused, taken advantage of, and American 0:00:49.080 --> 0:00:55.120 presidents and American Congresses allowing this to happen, hurting American manufacturers, 0:00:55.200 --> 0:00:57.520 hurting the working men and women in this country, the 0:00:57.560 --> 0:01:01.520 people that really do make this country great. It is 0:01:02.120 --> 0:01:05.760 making us dependent on items we should never ever be 0:01:05.880 --> 0:01:12.320 dependent on, for example, semiconductor chips or pharmaceuticals. We learned 0:01:12.319 --> 0:01:15.959 that during COVID, what God forbid this COVID two point zero, 0:01:16.040 --> 0:01:18.560 you know, the nine to eleven Commissioner report concluded oh, 0:01:18.560 --> 0:01:20.400 they were war with us, but we were not at 0:01:20.400 --> 0:01:23.720 war with them. Well, all these nations around the world 0:01:23.880 --> 0:01:27.600 economically have been at war with the United States, taking 0:01:27.640 --> 0:01:30.759 advantage of us, ripping us off, abusing us, and we've 0:01:30.800 --> 0:01:33.559 been taking it. And now we've got a president saying 0:01:33.640 --> 0:01:37.760 enough is enough, and he's given countries a choice, and 0:01:37.800 --> 0:01:42.360 that is free and fair trade or reciprocal tariffs. 0:01:42.360 --> 0:01:43.960 And the choice is pretty much theirs. 0:01:44.200 --> 0:01:44.360 Now. 0:01:44.400 --> 0:01:48.880 The European Union charges ten percent, for example, on American 0:01:49.320 --> 0:01:53.000 automobiles that are sold in Europe. Then they have a 0:01:53.040 --> 0:01:56.040 twenty percent VAT tax, which is a value added tax 0:01:56.160 --> 0:01:59.760 national sales tax. That's thirty percent increase on the sticker 0:01:59.800 --> 0:02:03.160 price of an American car. Is at any wonder? For example, 0:02:03.240 --> 0:02:06.520 Germany sells nearly ten cars in America to every one 0:02:06.560 --> 0:02:10.080 American made car sold in Germany. It becomes cost prohibitive, 0:02:10.760 --> 0:02:13.040 and we're supposed to just sit back and take that. 0:02:13.520 --> 0:02:16.680 And then they go into energy deals with Vladimir Putin 0:02:17.120 --> 0:02:20.520 and none of these countries end up paying their fair share. 0:02:20.600 --> 0:02:22.800 We pay the bulk of the freight for NATO to 0:02:22.880 --> 0:02:24.160 protect them from Russia. 0:02:24.720 --> 0:02:25.600 How stupid is this? 0:02:25.680 --> 0:02:28.840 That's why Chancellor Merkle got the white flag of surrender 0:02:28.919 --> 0:02:31.520 back in Trump's first term. Anyway, we welcome up back 0:02:31.560 --> 0:02:34.799 to the program our friend Peter Navarro, an American economists author 0:02:34.840 --> 0:02:38.239 who is currently Senior Counsel for Trade and Manufacturing for 0:02:38.440 --> 0:02:41.640 the US. Peter, great to have you back. How are you, sir. 0:02:42.600 --> 0:02:45.359 I'm doing fine, Sean, and America is doing fine. That 0:02:45.480 --> 0:02:50.920 was a very very good and historical day for America yesterday. 0:02:50.960 --> 0:02:53.960 I think it's probably the greatest day in American trade history. 0:02:54.639 --> 0:02:59.639 We've got now a global tariff of ten percent around 0:02:59.680 --> 0:03:04.760 the world, and we've got over eighty countries now coming 0:03:04.840 --> 0:03:09.360 in with the acknowledgement that they've been cheating US willing 0:03:09.760 --> 0:03:16.639 to deal which will basically help bring home our manufacturing 0:03:16.760 --> 0:03:21.559 and equally important, reduce our massive, massive, massive trade deficits 0:03:22.480 --> 0:03:27.880 with them. And this was a beautiful masterl negotiation art 0:03:27.880 --> 0:03:31.560 of the reciprocal trade deal that we watched. And Sean, Yes, 0:03:31.720 --> 0:03:34.520 there were so many people in the media and on 0:03:34.680 --> 0:03:39.240 Wall Street and up on Capitol Hill nervous Nelly's who 0:03:39.400 --> 0:03:42.840 just did not trust in Trump. And Donald Trump showed 0:03:43.480 --> 0:03:45.600 once again, and I don't know how many times he 0:03:45.680 --> 0:03:48.320 has to keep proving this that he is the master 0:03:48.920 --> 0:03:52.320 of the negotiation and you just have to get behind him, 0:03:52.400 --> 0:03:56.640 stay behind him, and let him do his thing for us. 0:03:56.880 --> 0:04:01.880 Now, there is some ambiguity in people's minds because there 0:04:01.920 --> 0:04:04.640 are other issues that we have with other countries. It's 0:04:04.720 --> 0:04:08.960 not just free or fair trade or reciprocal tariffs. That 0:04:09.440 --> 0:04:12.120 is probably the bulk of the issue for most of 0:04:12.160 --> 0:04:14.040 the countries that we're going to be dealing with and 0:04:15.040 --> 0:04:17.960 whatever trade deals are ultimately going to be made, and 0:04:18.000 --> 0:04:21.239 if some of these countries decide that they want reciprocal tariffs, 0:04:21.240 --> 0:04:24.479 they're going to do it to their own detriment. My 0:04:24.680 --> 0:04:27.960 argument is the strength of Donald Trump, and you have 0:04:28.000 --> 0:04:30.119 to have a backbone of steel to do what he's doing, 0:04:30.680 --> 0:04:34.200 is that he understands that all these countries they desperately 0:04:34.320 --> 0:04:37.480 need access to American markets, and that would include China. 0:04:37.680 --> 0:04:40.760 But then you have, you know, a kind of the 0:04:41.120 --> 0:04:44.719 It gets the waters get a little muddied, if you will, 0:04:45.240 --> 0:04:48.919 if you get away from free and fair and reciprocal tariffs, 0:04:49.360 --> 0:04:53.240 and then you start negotiating about currency manipulation or trade 0:04:53.279 --> 0:04:55.600 deficits with the country. And by the way, it may 0:04:55.600 --> 0:04:58.480 not necessarily be well, we'll have a trade surplus for 0:04:58.600 --> 0:05:00.800 country A, we'll have a trade deficit that what country be. 0:05:00.880 --> 0:05:03.880 It all depends on what we're importing, what we're exporting. 0:05:04.200 --> 0:05:07.520 I think overall, when the President's energy dominance program gets up, 0:05:07.839 --> 0:05:10.039 Europe is going to want our energy. It's going to 0:05:10.040 --> 0:05:13.680 be in their national security interest to get energy from America, 0:05:13.839 --> 0:05:16.520 not from Russia. That would add I believe that would 0:05:16.560 --> 0:05:18.279 create a trade surplus, don't you think. 0:05:19.240 --> 0:05:22.400 Let me clear the waters on this for people to understand. 0:05:22.600 --> 0:05:27.200 So the whole motion of reciprocity is that we will 0:05:27.279 --> 0:05:31.160 charge them whatever they are going to charge us. And 0:05:31.960 --> 0:05:36.520 the higher tariffs that the world charges us uniformally around 0:05:36.520 --> 0:05:40.080 the world Sean are only a very small part of 0:05:40.160 --> 0:05:44.400 the way they cheat us. It's the non cheating. It's 0:05:44.440 --> 0:05:48.040 the non tariff cheating that really sticks it to us. 0:05:48.480 --> 0:05:51.440 And it's the currency manipulation. Let me count the ways. 0:05:51.800 --> 0:05:54.600 I can probably get up to ten. But it's currency manipulation. 0:05:55.560 --> 0:05:59.560 It's the vat taxes, it's a dumping, the exports subsidy, 0:05:59.760 --> 0:06:02.800 the technical barriers to trade that keep our autos out, 0:06:02.839 --> 0:06:06.560 and say in Japan, the agricultural barriers to trade which 0:06:06.600 --> 0:06:10.880 prevent our pork and our beef and our chicken from 0:06:10.880 --> 0:06:15.719 going in. It's the lawfare they're waging against their digital companies. 0:06:15.760 --> 0:06:19.800 It's the trans shipping, it's the sweatshop labor, it's the 0:06:19.839 --> 0:06:23.200 pollution havens. I think I'm pretty damn close to ten. 0:06:23.920 --> 0:06:28.240 Well, intellectual property theft. There's just costing America and companies, 0:06:28.440 --> 0:06:31.839 you know, untold hundreds of billions of non trillions. 0:06:31.400 --> 0:06:35.559 Of dollars trillions every year, Sean. And so the point 0:06:35.640 --> 0:06:38.320 here is it's very clear, the waters are very clear. 0:06:38.320 --> 0:06:42.480 It's like they have to stop doing that to us. 0:06:42.520 --> 0:06:46.400 And we were very careful about how to value those 0:06:46.640 --> 0:06:51.480 non teriff barriers, that non tariff cheating in a way 0:06:51.520 --> 0:06:56.120 which will reflected, and the reciprocal teriffs we're charging them. Now, 0:06:56.160 --> 0:06:59.000 think about where we are, think about where President Trump 0:06:59.040 --> 0:07:02.400 is pushing, and they go shading position. We've established a 0:07:02.440 --> 0:07:07.599 clear global broad tariff. It's going to bring in billions 0:07:07.600 --> 0:07:10.480 of dollars a day, billions of dollars a day. Then 0:07:10.520 --> 0:07:12.440 every dollar is going to go back to the American 0:07:12.480 --> 0:07:15.760 people in terms of tax cuts and debt reduction. All 0:07:15.800 --> 0:07:21.080 good there. We've established our reciprocal trade tariff over and 0:07:21.120 --> 0:07:24.440 above that, Sean. And we are putting that on pause. 0:07:25.040 --> 0:07:27.600 And so the only good, the only thing that's going 0:07:27.680 --> 0:07:31.560 to happen now is we will lower that portion of 0:07:31.600 --> 0:07:35.080 the tariff, the reciprocal portion of the tariff down, but 0:07:35.240 --> 0:07:39.440 only if they lower their non tariff barriers. And it's 0:07:39.480 --> 0:07:42.400 this I want to like, these people are Europe's coming 0:07:42.400 --> 0:07:45.560 at US, Vietnam's coming as let's go to zero tariff. 0:07:45.640 --> 0:07:49.640 That does nothing, nothing for us. It's the non tariff cheating. 0:07:49.720 --> 0:07:50.960 I can't stress that enough. 0:07:51.200 --> 0:07:53.520 I don't think it does nothing. I think it's a win, 0:07:53.880 --> 0:07:58.119 but it's certainly not comprehensive enough to have an equal 0:07:58.200 --> 0:08:01.120 playing field. I think, tell you what I think them 0:08:01.160 --> 0:08:05.280 eliminating terrrists. But however, it gets complicated in this sense 0:08:05.720 --> 0:08:07.360 of that tax is a terrrift. 0:08:07.520 --> 0:08:09.240 There's no other way to put it. 0:08:08.960 --> 0:08:12.560 It's also an export subsidy. In other words, they don't 0:08:12.600 --> 0:08:18.040 just tarriff us sending stuff to them. When their BMW 0:08:18.120 --> 0:08:20.920 comes to the US, the German government gives them an 0:08:20.960 --> 0:08:24.400 exports They give them a rebate on the VAT, which 0:08:24.440 --> 0:08:28.120 acts as an export subsidy. It's incredible. So it's double 0:08:28.200 --> 0:08:29.600 edged tool. But anyway, go ahead. 0:08:29.840 --> 0:08:35.680 Can you explain how currency manipulation has taken place, because 0:08:35.720 --> 0:08:39.360 it's not a concept I think most people would would 0:08:39.360 --> 0:08:41.120 be aware of. 0:08:41.640 --> 0:08:45.200 Sure. The way it works is every country in the 0:08:45.240 --> 0:08:50.439 world has some their currency has some relationship to the dollars. 0:08:50.480 --> 0:08:53.760 So in order for China, say to buy one dollar, 0:08:53.840 --> 0:08:56.920 they got to give seven u one. Okay. Now, what 0:08:57.160 --> 0:09:00.480 happens is if we care of them and this is 0:09:00.520 --> 0:09:02.920 what they do, or if they want to sell more 0:09:04.040 --> 0:09:09.760 exports to us, what they do is they devalue their currency. 0:09:10.080 --> 0:09:13.600 Devalue they make it so their currency is less and 0:09:13.640 --> 0:09:16.880 the dollars stronger. What does that mean. It's like a 0:09:16.960 --> 0:09:21.520 stronger dollar will buy more in China, a weaker yuwan 0:09:21.800 --> 0:09:25.280 buy less than the US. So they win both ways. 0:09:25.600 --> 0:09:28.000 And the way they do it is through central bank 0:09:28.120 --> 0:09:32.440 interventions where they're buying or selling dollars depending on which 0:09:32.440 --> 0:09:35.439 way they want their currency to go. And it's pernicious. 0:09:35.720 --> 0:09:39.120 One of the big surges that we had for several 0:09:39.200 --> 0:09:43.280 years with China when they were just taking tens of 0:09:43.320 --> 0:09:47.359 thousands of our factories, it was almost all currency manipulation. 0:09:47.920 --> 0:09:50.120 And then the other things they do is they dump, 0:09:50.200 --> 0:09:53.360 which is sending us stuff below cost. Now, don't you 0:09:53.440 --> 0:09:57.959 remember that famous time cover where they had a thing 0:09:58.040 --> 0:10:01.400 called the China Price, and they asked question, how did 0:10:01.480 --> 0:10:04.679 China sell stuff in America for fifty cents less than 0:10:04.720 --> 0:10:07.560 everybody does it on the dollars? And it was all 0:10:07.600 --> 0:10:11.800 about the cheating, the currency dump being the exports, subsidies, 0:10:11.960 --> 0:10:15.559 the state government owned enterprises and stuff like that. So 0:10:15.920 --> 0:10:19.840 the Treasury Department watches all this stuff carefully and it's 0:10:19.880 --> 0:10:23.839 a very potent tool. So when the reason Sean why 0:10:24.480 --> 0:10:27.120 we didn't see any inflation when we put the big 0:10:27.200 --> 0:10:31.720 tariffs on China is a lot of the burden was 0:10:31.720 --> 0:10:35.080 born by the exporters themselves. You know, they had to sell, 0:10:35.160 --> 0:10:39.720 so they lowered their price, but they also evalued their currency. 0:10:39.760 --> 0:10:42.800 That's the currency manipulation. So it's all a central bank 0:10:42.880 --> 0:10:44.440 thing and it's a weapon. 0:10:44.920 --> 0:10:48.599 How soon with the seventy five countries that created the 0:10:48.720 --> 0:10:53.720 ninety day pause, how soon do you expect deals to 0:10:53.800 --> 0:10:58.880 be announced? And what countries do you expect will move expeditiously? 0:10:58.880 --> 0:11:00.880 Because I would probably make the argument I think I 0:11:00.960 --> 0:11:03.240 know Trump pretty well. I've known him for thirty years 0:11:03.840 --> 0:11:06.160 and I've supported him ever since he got into the 0:11:06.160 --> 0:11:10.120 political arena. As you know, I'm pretty sure, if you 0:11:10.200 --> 0:11:12.920 get one of the first twenty deals, you're probably going 0:11:12.960 --> 0:11:13.840 to get a better deal. 0:11:14.080 --> 0:11:18.559 And then if he got the last ten, well, I'm 0:11:18.600 --> 0:11:18.920 not sure. 0:11:18.960 --> 0:11:21.000 But do you know what it's like to negotiate an 0:11:21.000 --> 0:11:23.559 interview with him? I'll ask him, I'll say I need 0:11:23.600 --> 0:11:25.280 it now, if I need an hour. 0:11:25.559 --> 0:11:28.720 Know a little bit about negotiating with the boss, and 0:11:28.760 --> 0:11:32.480 it's when Unfortunately I've been more of an observer than 0:11:32.520 --> 0:11:35.040 having to negotiate within my shelf. 0:11:35.679 --> 0:11:39.480 But I shouldn't say I mean, he is hardcore. If 0:11:39.480 --> 0:11:41.679 I say I want an hour for the TV show, 0:11:42.280 --> 0:11:44.959 you know, he said, I'll give you twenty minutes. 0:11:45.000 --> 0:11:47.120 That's where he starts. 0:11:46.559 --> 0:11:50.240 And by the way, he has every intention of giving 0:11:50.320 --> 0:11:52.160 me the time for the full hour, and then he 0:11:52.240 --> 0:11:54.800 usually will go way over time, and then I'll have 0:11:54.920 --> 0:11:57.640 more material for the next night, and that's on him. 0:11:57.840 --> 0:11:59.960 So I'll usually settle it like thirty five. 0:12:00.040 --> 0:12:01.719 I've been knowing that he's going to stay in the 0:12:01.800 --> 0:12:03.720 chair for the forty four minutes that I need to 0:12:03.880 --> 0:12:06.120 get for the full hour, and then he will go 0:12:06.160 --> 0:12:09.040 over time because he once he's in the chairy like, 0:12:09.400 --> 0:12:11.880 we just keep talking like friends, you know, so it 0:12:12.000 --> 0:12:12.959 just keep going. 0:12:12.880 --> 0:12:15.320 Understood, well, he's going to take he's going to be 0:12:15.360 --> 0:12:17.920 the lead negotiator in but we've got a great team. 0:12:18.440 --> 0:12:21.719 Jamison Greer, the USTR NO chapter in versus all of 0:12:21.800 --> 0:12:26.440 these non tariff cheating that goes on. Howard Ludnik in 0:12:26.559 --> 0:12:30.480 his own right is a fantastic negotiator. Scott Bethen knows 0:12:30.520 --> 0:12:33.800 a lot about the currency manipulation and the financial ways 0:12:33.800 --> 0:12:36.800 that they screw us. And then you got Kevin Hafft doing 0:12:36.880 --> 0:12:43.120 wonderful background analysis and making sure the flow of world 0:12:43.200 --> 0:12:46.400 leaders comes in properly. And then the Vice President has 0:12:46.440 --> 0:12:49.520 been just beautiful on all of this. He's he's very involved, 0:12:50.080 --> 0:12:54.000 very engaged, and very very knowledgeable. It's very very different 0:12:54.000 --> 0:12:57.520 from Mike Pence. I mean, j JD knows his stuff 0:12:58.320 --> 0:13:01.880 and he lived it. He grew up getting hammered by 0:13:02.360 --> 0:13:05.800 the unfair trade, particularly of China. So you know, you'll 0:13:05.840 --> 0:13:09.599 see you'll see deals, and they'll be great deals for 0:13:09.720 --> 0:13:12.520 America and they'll start flowing. I mean, but we got 0:13:12.640 --> 0:13:16.000 ninety days and we're up to almost ninety countries and 0:13:16.559 --> 0:13:18.319 this can be done and they're going to be come. 0:13:18.520 --> 0:13:21.320 Let me ask you this exit question. Do you agree 0:13:21.320 --> 0:13:24.040 with me? I think China will come to the table. 0:13:24.240 --> 0:13:27.080 I think a deal eventually will be struck with China 0:13:27.120 --> 0:13:29.360 because they have to have access to our markets. 0:13:29.880 --> 0:13:33.400 It's very much in China's interest. And yeah, I've been 0:13:33.440 --> 0:13:37.800 saying John for almost twenty years now that this could 0:13:37.840 --> 0:13:40.320 be a great thing both for China and the US, 0:13:40.400 --> 0:13:45.600 because what China should have been doing is gradually moving 0:13:45.679 --> 0:13:50.680 towards a more domestic consumption economy. They're heavily export dependent, 0:13:51.400 --> 0:13:54.120 and that means they're heavily export dependent not just on 0:13:54.160 --> 0:13:58.000 the United States, but on Europe and other parts of 0:13:58.080 --> 0:14:01.120 the prosperous world. And China is really not going to 0:14:01.200 --> 0:14:05.040 be the world power and the respect the nation it 0:14:05.120 --> 0:14:09.240 wants to be until that that it has a strong 0:14:09.360 --> 0:14:12.320 domestic market and the people with China would be better 0:14:12.360 --> 0:14:14.920 for it. So yeah, I mean, the President keeps saying 0:14:15.960 --> 0:14:19.160 that that China would love to make a deal, and 0:14:19.200 --> 0:14:21.120 he'd loved to make a deal with them. So let's 0:14:21.120 --> 0:14:23.400 see what happens, is the boss says. But in the meantime, 0:14:23.920 --> 0:14:26.720 I think the people of America should be really heartened 0:14:27.160 --> 0:14:30.400 by what happened yesterday. It's amazing and it'd all played it. 0:14:30.480 --> 0:14:31.400 I think it's that too. 0:14:31.440 --> 0:14:33.520 But I think America should be happy that, you know, 0:14:33.560 --> 0:14:36.560 all these countries, you know, realize that they've been ripping 0:14:36.600 --> 0:14:39.720 us off. That's why they so quickly moved towards can 0:14:39.760 --> 0:14:42.680 we do a deal? And I hope these deals get 0:14:42.720 --> 0:14:45.720 done quickly. I'm just looking at the clock up because 0:14:45.720 --> 0:14:47.480 of the constraints of time, I have to let you go. 0:14:47.520 --> 0:14:47.760 Peter. 0:14:47.840 --> 0:14:50.080 We do appreciate you, as you know, Thanks so much, 0:14:50.120 --> 0:14:51.240 as always with being with us. 0:14:51.320 --> 0:14:53.440 It was good to talk to Sean Fight a good friend. 0:14:53.560 --> 0:14:53.960 Thanks brother. 0:14:54.120 --> 0:15:00.560 Eight hundred nine four one, Shawn a number here to 0:15:00.880 --> 0:15:05.280 weigh in on. You know where we are in terms 0:15:05.320 --> 0:15:09.080 of President Trump his ninety days suspension of these tariffs. 0:15:09.160 --> 0:15:11.800 He's only staying with the ten percent tariff. We have 0:15:11.880 --> 0:15:15.800 been ripped off by country after country after country, including 0:15:15.840 --> 0:15:19.960 allied countries, for the longest period of time. Why Americans 0:15:20.000 --> 0:15:23.200 don't understand this fact. And it has hurt our economy. 0:15:23.720 --> 0:15:26.560 It has hurt our manufacturing, it has hurt our automakers, 0:15:26.680 --> 0:15:28.920 it has hurt our farmers, it has hurt our ranchers, 0:15:29.080 --> 0:15:30.600 it has hurt our economy overall. 0:15:30.720 --> 0:15:31.560 And this has gone on. 0:15:31.960 --> 0:15:37.000 It's you know, the establishment institutionalist mindset is all no, no, no, 0:15:37.280 --> 0:15:39.000 they're going to get mad at us and everything, and 0:15:39.040 --> 0:15:41.920 we're going to have a trade war and the skiddish 0:15:41.960 --> 0:15:45.520 you know, people on Wall Street freak out at any change. 0:15:45.600 --> 0:15:46.920 They like the status quo. 0:15:47.080 --> 0:15:49.080 Although don't kid yourself, a lot of people on Wall 0:15:49.080 --> 0:15:51.440 Street make money when the market goes up, and they 0:15:51.440 --> 0:15:53.440 make money when the market goes down. You know what 0:15:53.480 --> 0:15:56.680 most people don't know is about fifty percent, over fifty 0:15:56.680 --> 0:15:58.880 percent of Americans, they're not even in the stock market. 0:15:59.000 --> 0:16:00.720 And the people that are going to benefit are the 0:16:00.760 --> 0:16:03.880 people that will with all of the seven trillion dollars 0:16:03.880 --> 0:16:07.240 in committed investments from countries and companies, which I've been 0:16:07.280 --> 0:16:10.280 scrolling all over TV every night to educate people or 0:16:10.320 --> 0:16:14.360 try to that is going to be massive, a massive 0:16:14.640 --> 0:16:18.320 input of high paying career jobs for Americans, and with 0:16:19.040 --> 0:16:23.240 manufacturing about to explode, that's going to be huge for 0:16:23.320 --> 0:16:26.000 the American economy. You couple that with the President's plan 0:16:26.080 --> 0:16:29.600 on energy and energy dominance, and you couple that with 0:16:29.760 --> 0:16:32.560 the one hundred and fifty billion that Elon announced. And 0:16:32.640 --> 0:16:35.280 we'll play this this cabinet meeting in the final hour 0:16:35.320 --> 0:16:38.000 today because it was so worthwhile one hundred and fifty 0:16:38.040 --> 0:16:41.760 billion dollars in saving a doge you've got yourself. You're 0:16:41.840 --> 0:16:46.040 lining America up for the longest period of peacetime economic 0:16:46.120 --> 0:16:48.960 growth in our lifetime. And it's just a matter of 0:16:48.960 --> 0:16:50.960 people having a little bit of patience and a little 0:16:51.000 --> 0:16:55.400 bit of understanding about the varying components and that it 0:16:55.480 --> 0:16:57.480 takes time to do these things. It's going to take 0:16:57.480 --> 0:17:01.920 time to get these factories online, these manufacts, exturing centers online. However, 0:17:02.160 --> 0:17:05.040 the money's committed, it's over seven trillion. It's going to 0:17:05.119 --> 0:17:07.280 take time to get that energy out of the ground, 0:17:07.320 --> 0:17:09.960 but they'll get it out quickly. They've been incentivized to 0:17:10.000 --> 0:17:12.720 do it. Presidents even proposing and has put out there 0:17:12.800 --> 0:17:16.240 the idea that any new manufacturing center could be one 0:17:16.320 --> 0:17:20.400 hundred percent tax deductible. Add that to reconciliation, which is 0:17:20.560 --> 0:17:23.280 now well on a path towards success. Thankfully it passed 0:17:23.320 --> 0:17:29.520 in the House today. We have major, major economic opportunities 0:17:29.560 --> 0:17:34.879 that will transform America's economy, and it also has national 0:17:34.920 --> 0:17:38.520 security implications. If we start producing our chips and semiconductor 0:17:38.640 --> 0:17:41.600 stuff right here in America, guess what, We're not dependent 0:17:41.680 --> 0:17:44.760 on other countries if we need pharmaceuticals in this country, 0:17:44.800 --> 0:17:47.560 why don't we produce our own rather than rely on 0:17:47.600 --> 0:17:50.480 other countries? God forbid, there's COVID two point zero. Anyway, 0:17:50.560 --> 0:17:54.200 Steve Moore's with US economists, author of the bestseller Trumponomics, 0:17:54.200 --> 0:17:58.240 Inside the America first planned to revive our economy. This 0:17:58.359 --> 0:18:00.760 is exactly what the president promised that he would do. 0:18:01.640 --> 0:18:06.240 And when he announced these tariffs, he got the world's attention. 0:18:06.800 --> 0:18:10.760 I know the look, there's Main Street and then there's 0:18:10.760 --> 0:18:13.159 Wall Street. I care about the people on Main Street. 0:18:13.520 --> 0:18:16.560 And yes, is there a temporary decline in the stock market. 0:18:16.600 --> 0:18:19.000 We saw yesterday the biggest one day gain in history. 0:18:19.040 --> 0:18:21.359 But putting that all aside for a second, because that's 0:18:21.359 --> 0:18:25.040 not my biggest barometer, but long term, the play that 0:18:25.119 --> 0:18:30.440 the president is making is basically a declaration of economic independence, 0:18:30.560 --> 0:18:33.440 and basically one saying we're not going to be abused, 0:18:33.480 --> 0:18:36.880 taking advantage of, or ripped off anymore. And I think 0:18:36.880 --> 0:18:40.560 that message resonates with Main Street. But the people of 0:18:40.640 --> 0:18:42.800 Wall Street they kind of like the system the way 0:18:42.840 --> 0:18:43.560 it is, don't they. 0:18:44.000 --> 0:18:46.200 Well, it's almost like we have a kickbee sign and 0:18:46.640 --> 0:18:52.240 plaster on our back. And it's true, and so listen, 0:18:52.240 --> 0:18:55.600 I wanted to give one piece of little advice to 0:18:55.640 --> 0:18:57.640 people in terms of the market. The market was way 0:18:57.720 --> 0:19:00.679 up yesterday, it's coming down a little bit today. You 0:19:00.720 --> 0:19:03.760 know my strategies, Buy the dips. Buy these dips because 0:19:03.800 --> 0:19:06.560 the economy is going to rush back to good health. 0:19:07.040 --> 0:19:09.480 And when that happens, American business they're going to do well. 0:19:09.600 --> 0:19:11.560 So you want to be invested. And I just say, 0:19:11.560 --> 0:19:14.040 every time I see one of these sellouts, I'm buying. 0:19:14.320 --> 0:19:16.960 I'm buying stock as I believe in the Trump agenda. 0:19:17.000 --> 0:19:19.720 And by the way, let's not forget Sean For people 0:19:19.760 --> 0:19:22.119 who do watch the stock market, remember how much of 0:19:22.119 --> 0:19:24.800 the NASAC was up in Trump's first term one hundred 0:19:24.800 --> 0:19:29.720 and forty. The dollar was up sixty percent, the S 0:19:29.760 --> 0:19:31.760 and P five hundred almost seventy five percent. 0:19:31.840 --> 0:19:34.040 So this guy has a But in the beginning of 0:19:34.080 --> 0:19:37.200 his term when he announced tariffs against China, the market 0:19:37.240 --> 0:19:39.440 took a hit at that point, and then he got 0:19:39.440 --> 0:19:41.479 a deal with China. I predict he's going to get 0:19:41.560 --> 0:19:44.439 a deal with China. I think China has no choice. 0:19:44.840 --> 0:19:47.520 They're going to want access to our markets. Now China 0:19:47.560 --> 0:19:52.479 has another problem is European countries. They have responded to 0:19:52.600 --> 0:19:56.000 the high tariffs that China has put on their countries, 0:19:56.600 --> 0:20:01.440 and they have responded with reciprocal tariffs themselves. It's ironic 0:20:01.520 --> 0:20:05.080 that they don't like reciprocal tarists put on them by 0:20:05.080 --> 0:20:07.560 America because they've been abusing us for so long, but 0:20:07.600 --> 0:20:08.600 they did it to China. 0:20:08.960 --> 0:20:11.800 Well, that's exactly right. And incidentally, I think it's so 0:20:11.920 --> 0:20:14.760 interesting that the media they report every day when you know, 0:20:14.800 --> 0:20:17.680 when the stock market is down, but a lot of 0:20:17.720 --> 0:20:20.359 your listeners probably don't know this because it's not reported 0:20:20.359 --> 0:20:23.000 by the media. China's stock market is way down more 0:20:23.040 --> 0:20:25.399 than ours is. So they have way more to lose 0:20:25.480 --> 0:20:28.280 by not coming to an agreement with Trump than we do. 0:20:28.520 --> 0:20:31.160 I mean, if they can't trade with the United States, 0:20:31.560 --> 0:20:33.919 China is going to go into something that looked like 0:20:33.960 --> 0:20:36.119 the Great depression that we have in the nineteen thirties 0:20:36.119 --> 0:20:39.720 in the United States. They cannot possibly grow their economy 0:20:39.760 --> 0:20:42.800 if they can't sell products to our you know, twenty 0:20:42.880 --> 0:20:46.840 trillion dollar consumer market. And so the company understands that. 0:20:47.160 --> 0:20:50.720 I really believe having been around him now for the 0:20:50.760 --> 0:20:53.600 last eight years, this guy is like at least two 0:20:54.040 --> 0:20:57.880 moves on the chessboard to everybody of everybody else, and 0:20:58.240 --> 0:21:00.800 that's why he's been so successful. I want to make 0:21:00.840 --> 0:21:02.800 one other quick point. If by Maychewan, you did a 0:21:02.800 --> 0:21:05.280 good summation of what's happening with the economy, you left 0:21:05.280 --> 0:21:09.240 out something. We got a really good inflation number today. Surprise, surprise, 0:21:09.520 --> 0:21:11.359 Trump has ended the Biden inflation. 0:21:11.760 --> 0:21:15.200 This is two months in a row now an unexpected dip. 0:21:15.520 --> 0:21:16.320 I mean it. 0:21:16.320 --> 0:21:19.400 There's nothing this guy can do right in any way, shape, matter, 0:21:19.440 --> 0:21:23.560 or form. The White House National Economic Council Director Kevin 0:21:23.600 --> 0:21:27.800 has to announced that trade deals are moving very very quickly. 0:21:27.920 --> 0:21:31.480 Nearly twenty countries are sending in proposals. Now there's over 0:21:31.560 --> 0:21:34.359 seventy five countries. And this is the reason the President 0:21:34.400 --> 0:21:38.840 put the palls in place, is because these countries reacted 0:21:38.840 --> 0:21:41.000 the way they should have reacted. They know they've been 0:21:41.040 --> 0:21:43.760 ripping us off all these years. And the President was 0:21:43.800 --> 0:21:45.720 interesting in this cabinet meeting, which is only going to 0:21:45.720 --> 0:21:48.520 place some of this in the next hour, when he said, 0:21:48.560 --> 0:21:52.320 I don't really blame them, it's the people that were 0:21:52.640 --> 0:21:54.639 president at the time. And this has gone on for 0:21:54.680 --> 0:21:58.000 fifty or sixty years. They've allowed our country to be 0:21:58.119 --> 0:22:02.000 ripped off and taken advantage of. And any American president 0:22:02.080 --> 0:22:04.919 at any time could have and should have stopped this. 0:22:05.680 --> 0:22:08.119 But they don't have the intestinal fortitude of a Donald 0:22:08.160 --> 0:22:11.320 Trump to say, sorry, you don't get to rip off America. 0:22:11.359 --> 0:22:13.800 You don't get to hurt American manufacturing, you don't get 0:22:13.840 --> 0:22:16.879 to hurt American auto workers, you don't get to screw 0:22:16.960 --> 0:22:20.480