Speaker 1: Thanks Scott chan An hour two Sean Hannity's show, Toll Free,
Speaker 1: it is eight hundred and nine foot one Shawn. If
Speaker 1: you want to be a part of the program. Later
Speaker 1: in the program, the President had a full cabinet meeting
Speaker 1: earlier today, and if you want to hear with America's
Speaker 1: future and how dramatically different and open and transparent, and
Speaker 1: how transformational and consequential everything that every department is now
Speaker 1: doing to get this country back to constitutional order. It's
Speaker 1: actually pretty inspiring, and it's pretty amazing what every single
Speaker 1: person is up to right now. And it's amazing.
Speaker 2: Now.
Speaker 1: The big issue before everybody is, after fifty sixty years
Speaker 1: of getting ripped off, abused, taken advantage of, and American
Speaker 1: presidents and American Congresses allowing this to happen, hurting American manufacturers,
Speaker 1: hurting the working men and women in this country, the
Speaker 1: people that really do make this country great. It is
Speaker 1: making us dependent on items we should never ever be
Speaker 1: dependent on, for example, semiconductor chips or pharmaceuticals. We learned
Speaker 1: that during COVID, what God forbid this COVID two point zero,
Speaker 1: you know, the nine to eleven Commissioner report concluded oh,
Speaker 1: they were war with us, but we were not at
Speaker 1: war with them. Well, all these nations around the world
Speaker 1: economically have been at war with the United States, taking
Speaker 1: advantage of us, ripping us off, abusing us, and we've
Speaker 1: been taking it. And now we've got a president saying
Speaker 1: enough is enough, and he's given countries a choice, and
Speaker 1: that is free and fair trade or reciprocal tariffs.
Speaker 3: And the choice is pretty much theirs.
Speaker 2: Now.
Speaker 1: The European Union charges ten percent, for example, on American
Speaker 1: automobiles that are sold in Europe. Then they have a
Speaker 1: twenty percent VAT tax, which is a value added tax
Speaker 1: national sales tax. That's thirty percent increase on the sticker
Speaker 1: price of an American car. Is at any wonder? For example,
Speaker 1: Germany sells nearly ten cars in America to every one
Speaker 1: American made car sold in Germany. It becomes cost prohibitive,
Speaker 1: and we're supposed to just sit back and take that.
Speaker 1: And then they go into energy deals with Vladimir Putin
Speaker 1: and none of these countries end up paying their fair share.
Speaker 1: We pay the bulk of the freight for NATO to
Speaker 1: protect them from Russia.
Speaker 3: How stupid is this?
Speaker 1: That's why Chancellor Merkle got the white flag of surrender
Speaker 1: back in Trump's first term. Anyway, we welcome up back
Speaker 1: to the program our friend Peter Navarro, an American economists author
Speaker 1: who is currently Senior Counsel for Trade and Manufacturing for
Speaker 1: the US. Peter, great to have you back. How are you, sir.
Speaker 2: I'm doing fine, Sean, and America is doing fine. That
Speaker 2: was a very very good and historical day for America yesterday.
Speaker 2: I think it's probably the greatest day in American trade history.
Speaker 2: We've got now a global tariff of ten percent around
Speaker 2: the world, and we've got over eighty countries now coming
Speaker 2: in with the acknowledgement that they've been cheating US willing
Speaker 2: to deal which will basically help bring home our manufacturing
Speaker 2: and equally important, reduce our massive, massive, massive trade deficits
Speaker 2: with them. And this was a beautiful masterl negotiation art
Speaker 2: of the reciprocal trade deal that we watched. And Sean, Yes,
Speaker 2: there were so many people in the media and on
Speaker 2: Wall Street and up on Capitol Hill nervous Nelly's who
Speaker 2: just did not trust in Trump. And Donald Trump showed
Speaker 2: once again, and I don't know how many times he
Speaker 2: has to keep proving this that he is the master
Speaker 2: of the negotiation and you just have to get behind him,
Speaker 2: stay behind him, and let him do his thing for us.
Speaker 1: Now, there is some ambiguity in people's minds because there
Speaker 1: are other issues that we have with other countries. It's
Speaker 1: not just free or fair trade or reciprocal tariffs. That
Speaker 1: is probably the bulk of the issue for most of
Speaker 1: the countries that we're going to be dealing with and
Speaker 1: whatever trade deals are ultimately going to be made, and
Speaker 1: if some of these countries decide that they want reciprocal tariffs,
Speaker 1: they're going to do it to their own detriment. My
Speaker 1: argument is the strength of Donald Trump, and you have
Speaker 1: to have a backbone of steel to do what he's doing,
Speaker 1: is that he understands that all these countries they desperately
Speaker 1: need access to American markets, and that would include China.
Speaker 1: But then you have, you know, a kind of the
Speaker 1: It gets the waters get a little muddied, if you will,
Speaker 1: if you get away from free and fair and reciprocal tariffs,
Speaker 1: and then you start negotiating about currency manipulation or trade
Speaker 1: deficits with the country. And by the way, it may
Speaker 1: not necessarily be well, we'll have a trade surplus for
Speaker 1: country A, we'll have a trade deficit that what country be.
Speaker 1: It all depends on what we're importing, what we're exporting.
Speaker 1: I think overall, when the President's energy dominance program gets up,
Speaker 1: Europe is going to want our energy. It's going to
Speaker 1: be in their national security interest to get energy from America,
Speaker 1: not from Russia. That would add I believe that would
Speaker 1: create a trade surplus, don't you think.
Speaker 2: Let me clear the waters on this for people to understand.
Speaker 2: So the whole motion of reciprocity is that we will
Speaker 2: charge them whatever they are going to charge us. And
Speaker 2: the higher tariffs that the world charges us uniformally around
Speaker 2: the world Sean are only a very small part of
Speaker 2: the way they cheat us. It's the non cheating. It's
Speaker 2: the non tariff cheating that really sticks it to us.
Speaker 2: And it's the currency manipulation. Let me count the ways.
Speaker 2: I can probably get up to ten. But it's currency manipulation.
Speaker 2: It's the vat taxes, it's a dumping, the exports subsidy,
Speaker 2: the technical barriers to trade that keep our autos out,
Speaker 2: and say in Japan, the agricultural barriers to trade which
Speaker 2: prevent our pork and our beef and our chicken from
Speaker 2: going in. It's the lawfare they're waging against their digital companies.
Speaker 2: It's the trans shipping, it's the sweatshop labor, it's the
Speaker 2: pollution havens. I think I'm pretty damn close to ten.
Speaker 1: Well, intellectual property theft. There's just costing America and companies,
Speaker 1: you know, untold hundreds of billions of non trillions.
Speaker 2: Of dollars trillions every year, Sean. And so the point
Speaker 2: here is it's very clear, the waters are very clear.
Speaker 2: It's like they have to stop doing that to us.
Speaker 2: And we were very careful about how to value those
Speaker 2: non teriff barriers, that non tariff cheating in a way
Speaker 2: which will reflected, and the reciprocal teriffs we're charging them. Now,
Speaker 2: think about where we are, think about where President Trump
Speaker 2: is pushing, and they go shading position. We've established a
Speaker 2: clear global broad tariff. It's going to bring in billions
Speaker 2: of dollars a day, billions of dollars a day. Then
Speaker 2: every dollar is going to go back to the American
Speaker 2: people in terms of tax cuts and debt reduction. All
Speaker 2: good there. We've established our reciprocal trade tariff over and
Speaker 2: above that, Sean. And we are putting that on pause.
Speaker 2: And so the only good, the only thing that's going
Speaker 2: to happen now is we will lower that portion of
Speaker 2: the tariff, the reciprocal portion of the tariff down, but
Speaker 2: only if they lower their non tariff barriers. And it's
Speaker 2: this I want to like, these people are Europe's coming
Speaker 2: at US, Vietnam's coming as let's go to zero tariff.
Speaker 2: That does nothing, nothing for us. It's the non tariff cheating.
Speaker 2: I can't stress that enough.
Speaker 1: I don't think it does nothing. I think it's a win,
Speaker 1: but it's certainly not comprehensive enough to have an equal
Speaker 1: playing field. I think, tell you what I think them
Speaker 1: eliminating terrrists. But however, it gets complicated in this sense
Speaker 1: of that tax is a terrrift.
Speaker 3: There's no other way to put it.
Speaker 2: It's also an export subsidy. In other words, they don't
Speaker 2: just tarriff us sending stuff to them. When their BMW
Speaker 2: comes to the US, the German government gives them an
Speaker 2: exports They give them a rebate on the VAT, which
Speaker 2: acts as an export subsidy. It's incredible. So it's double
Speaker 2: edged tool. But anyway, go ahead.
Speaker 1: Can you explain how currency manipulation has taken place, because
Speaker 1: it's not a concept I think most people would would
Speaker 1: be aware of.
Speaker 2: Sure. The way it works is every country in the
Speaker 2: world has some their currency has some relationship to the dollars.
Speaker 2: So in order for China, say to buy one dollar,
Speaker 2: they got to give seven u one. Okay. Now, what
Speaker 2: happens is if we care of them and this is
Speaker 2: what they do, or if they want to sell more
Speaker 2: exports to us, what they do is they devalue their currency.
Speaker 2: Devalue they make it so their currency is less and
Speaker 2: the dollars stronger. What does that mean. It's like a
Speaker 2: stronger dollar will buy more in China, a weaker yuwan
Speaker 2: buy less than the US. So they win both ways.
Speaker 2: And the way they do it is through central bank
Speaker 2: interventions where they're buying or selling dollars depending on which
Speaker 2: way they want their currency to go. And it's pernicious.
Speaker 2: One of the big surges that we had for several
Speaker 2: years with China when they were just taking tens of
Speaker 2: thousands of our factories, it was almost all currency manipulation.
Speaker 2: And then the other things they do is they dump,
Speaker 2: which is sending us stuff below cost. Now, don't you
Speaker 2: remember that famous time cover where they had a thing
Speaker 2: called the China Price, and they asked question, how did
Speaker 2: China sell stuff in America for fifty cents less than
Speaker 2: everybody does it on the dollars? And it was all
Speaker 2: about the cheating, the currency dump being the exports, subsidies,
Speaker 2: the state government owned enterprises and stuff like that. So
Speaker 2: the Treasury Department watches all this stuff carefully and it's
Speaker 2: a very potent tool. So when the reason Sean why
Speaker 2: we didn't see any inflation when we put the big
Speaker 2: tariffs on China is a lot of the burden was
Speaker 2: born by the exporters themselves. You know, they had to sell,
Speaker 2: so they lowered their price, but they also evalued their currency.
Speaker 2: That's the currency manipulation. So it's all a central bank
Speaker 2: thing and it's a weapon.
Speaker 1: How soon with the seventy five countries that created the
Speaker 1: ninety day pause, how soon do you expect deals to
Speaker 1: be announced? And what countries do you expect will move expeditiously?
Speaker 1: Because I would probably make the argument I think I
Speaker 1: know Trump pretty well. I've known him for thirty years
Speaker 1: and I've supported him ever since he got into the
Speaker 1: political arena. As you know, I'm pretty sure, if you
Speaker 1: get one of the first twenty deals, you're probably going
Speaker 1: to get a better deal.
Speaker 3: And then if he got the last ten, well, I'm
Speaker 3: not sure.
Speaker 1: But do you know what it's like to negotiate an
Speaker 1: interview with him? I'll ask him, I'll say I need
Speaker 1: it now, if I need an hour.
Speaker 2: Know a little bit about negotiating with the boss, and
Speaker 2: it's when Unfortunately I've been more of an observer than
Speaker 2: having to negotiate within my shelf.
Speaker 1: But I shouldn't say I mean, he is hardcore. If
Speaker 1: I say I want an hour for the TV show,
Speaker 1: you know, he said, I'll give you twenty minutes.
Speaker 3: That's where he starts.
Speaker 1: And by the way, he has every intention of giving
Speaker 1: me the time for the full hour, and then he
Speaker 1: usually will go way over time, and then I'll have
Speaker 1: more material for the next night, and that's on him.
Speaker 3: So I'll usually settle it like thirty five.
Speaker 1: I've been knowing that he's going to stay in the
Speaker 1: chair for the forty four minutes that I need to
Speaker 1: get for the full hour, and then he will go
Speaker 1: over time because he once he's in the chairy like,
Speaker 1: we just keep talking like friends, you know, so it
Speaker 1: just keep going.
Speaker 2: Understood, well, he's going to take he's going to be
Speaker 2: the lead negotiator in but we've got a great team.
Speaker 2: Jamison Greer, the USTR NO chapter in versus all of
Speaker 2: these non tariff cheating that goes on. Howard Ludnik in
Speaker 2: his own right is a fantastic negotiator. Scott Bethen knows
Speaker 2: a lot about the currency manipulation and the financial ways
Speaker 2: that they screw us. And then you got Kevin Hafft doing
Speaker 2: wonderful background analysis and making sure the flow of world
Speaker 2: leaders comes in properly. And then the Vice President has
Speaker 2: been just beautiful on all of this. He's he's very involved,
Speaker 2: very engaged, and very very knowledgeable. It's very very different
Speaker 2: from Mike Pence. I mean, j JD knows his stuff
Speaker 2: and he lived it. He grew up getting hammered by
Speaker 2: the unfair trade, particularly of China. So you know, you'll
Speaker 2: see you'll see deals, and they'll be great deals for
Speaker 2: America and they'll start flowing. I mean, but we got
Speaker 2: ninety days and we're up to almost ninety countries and
Speaker 2: this can be done and they're going to be come.
Speaker 1: Let me ask you this exit question. Do you agree
Speaker 1: with me? I think China will come to the table.
Speaker 1: I think a deal eventually will be struck with China
Speaker 1: because they have to have access to our markets.
Speaker 2: It's very much in China's interest. And yeah, I've been
Speaker 2: saying John for almost twenty years now that this could
Speaker 2: be a great thing both for China and the US,
Speaker 2: because what China should have been doing is gradually moving
Speaker 2: towards a more domestic consumption economy. They're heavily export dependent,
Speaker 2: and that means they're heavily export dependent not just on
Speaker 2: the United States, but on Europe and other parts of
Speaker 2: the prosperous world. And China is really not going to
Speaker 2: be the world power and the respect the nation it
Speaker 2: wants to be until that that it has a strong
Speaker 2: domestic market and the people with China would be better
Speaker 2: for it. So yeah, I mean, the President keeps saying
Speaker 2: that that China would love to make a deal, and
Speaker 2: he'd loved to make a deal with them. So let's
Speaker 2: see what happens, is the boss says. But in the meantime,
Speaker 2: I think the people of America should be really heartened
Speaker 2: by what happened yesterday. It's amazing and it'd all played it.
Speaker 3: I think it's that too.
Speaker 1: But I think America should be happy that, you know,
Speaker 1: all these countries, you know, realize that they've been ripping
Speaker 1: us off. That's why they so quickly moved towards can
Speaker 1: we do a deal? And I hope these deals get
Speaker 1: done quickly. I'm just looking at the clock up because
Speaker 1: of the constraints of time, I have to let you go.
Speaker 3: Peter.
Speaker 1: We do appreciate you, as you know, Thanks so much,
Speaker 1: as always with being with us.
Speaker 2: It was good to talk to Sean Fight a good friend.
Speaker 3: Thanks brother.
Speaker 1: Eight hundred nine four one, Shawn a number here to
Speaker 1: weigh in on. You know where we are in terms
Speaker 1: of President Trump his ninety days suspension of these tariffs.
Speaker 1: He's only staying with the ten percent tariff. We have
Speaker 1: been ripped off by country after country after country, including
Speaker 1: allied countries, for the longest period of time. Why Americans
Speaker 1: don't understand this fact. And it has hurt our economy.
Speaker 1: It has hurt our manufacturing, it has hurt our automakers,
Speaker 1: it has hurt our farmers, it has hurt our ranchers,
Speaker 1: it has hurt our economy overall.
Speaker 3: And this has gone on.
Speaker 1: It's you know, the establishment institutionalist mindset is all no, no, no,
Speaker 1: they're going to get mad at us and everything, and
Speaker 1: we're going to have a trade war and the skiddish
Speaker 1: you know, people on Wall Street freak out at any change.
Speaker 3: They like the status quo.
Speaker 1: Although don't kid yourself, a lot of people on Wall
Speaker 1: Street make money when the market goes up, and they
Speaker 1: make money when the market goes down. You know what
Speaker 1: most people don't know is about fifty percent, over fifty
Speaker 1: percent of Americans, they're not even in the stock market.
Speaker 1: And the people that are going to benefit are the
Speaker 1: people that will with all of the seven trillion dollars
Speaker 1: in committed investments from countries and companies, which I've been
Speaker 1: scrolling all over TV every night to educate people or
Speaker 1: try to that is going to be massive, a massive
Speaker 1: input of high paying career jobs for Americans, and with
Speaker 1: manufacturing about to explode, that's going to be huge for
Speaker 1: the American economy. You couple that with the President's plan
Speaker 1: on energy and energy dominance, and you couple that with
Speaker 1: the one hundred and fifty billion that Elon announced. And
Speaker 1: we'll play this this cabinet meeting in the final hour
Speaker 1: today because it was so worthwhile one hundred and fifty
Speaker 1: billion dollars in saving a doge you've got yourself. You're
Speaker 1: lining America up for the longest period of peacetime economic
Speaker 1: growth in our lifetime. And it's just a matter of
Speaker 1: people having a little bit of patience and a little
Speaker 1: bit of understanding about the varying components and that it
Speaker 1: takes time to do these things. It's going to take
Speaker 1: time to get these factories online, these manufacts, exturing centers online. However,
Speaker 1: the money's committed, it's over seven trillion. It's going to
Speaker 1: take time to get that energy out of the ground,
Speaker 1: but they'll get it out quickly. They've been incentivized to
Speaker 1: do it. Presidents even proposing and has put out there
Speaker 1: the idea that any new manufacturing center could be one
Speaker 1: hundred percent tax deductible. Add that to reconciliation, which is
Speaker 1: now well on a path towards success. Thankfully it passed
Speaker 1: in the House today. We have major, major economic opportunities
Speaker 1: that will transform America's economy, and it also has national
Speaker 1: security implications. If we start producing our chips and semiconductor
Speaker 1: stuff right here in America, guess what, We're not dependent
Speaker 1: on other countries if we need pharmaceuticals in this country,
Speaker 1: why don't we produce our own rather than rely on
Speaker 1: other countries? God forbid, there's COVID two point zero. Anyway,
Speaker 1: Steve Moore's with US economists, author of the bestseller Trumponomics,
Speaker 1: Inside the America first planned to revive our economy. This
Speaker 1: is exactly what the president promised that he would do.
Speaker 1: And when he announced these tariffs, he got the world's attention.
Speaker 1: I know the look, there's Main Street and then there's
Speaker 1: Wall Street. I care about the people on Main Street.
Speaker 1: And yes, is there a temporary decline in the stock market.
Speaker 1: We saw yesterday the biggest one day gain in history.
Speaker 1: But putting that all aside for a second, because that's
Speaker 1: not my biggest barometer, but long term, the play that
Speaker 1: the president is making is basically a declaration of economic independence,
Speaker 1: and basically one saying we're not going to be abused,
Speaker 1: taking advantage of, or ripped off anymore. And I think
Speaker 1: that message resonates with Main Street. But the people of
Speaker 1: Wall Street they kind of like the system the way
Speaker 1: it is, don't they.
Speaker 4: Well, it's almost like we have a kickbee sign and
Speaker 4: plaster on our back. And it's true, and so listen,
Speaker 4: I wanted to give one piece of little advice to
Speaker 4: people in terms of the market. The market was way
Speaker 4: up yesterday, it's coming down a little bit today. You
Speaker 4: know my strategies, Buy the dips. Buy these dips because
Speaker 4: the economy is going to rush back to good health.
Speaker 4: And when that happens, American business they're going to do well.
Speaker 4: So you want to be invested. And I just say,
Speaker 4: every time I see one of these sellouts, I'm buying.
Speaker 4: I'm buying stock as I believe in the Trump agenda.
Speaker 4: And by the way, let's not forget Sean For people
Speaker 4: who do watch the stock market, remember how much of
Speaker 4: the NASAC was up in Trump's first term one hundred
Speaker 4: and forty. The dollar was up sixty percent, the S
Speaker 4: and P five hundred almost seventy five percent.
Speaker 1: So this guy has a But in the beginning of
Speaker 1: his term when he announced tariffs against China, the market
Speaker 1: took a hit at that point, and then he got
Speaker 1: a deal with China. I predict he's going to get
Speaker 1: a deal with China. I think China has no choice.
Speaker 1: They're going to want access to our markets. Now China
Speaker 1: has another problem is European countries. They have responded to
Speaker 1: the high tariffs that China has put on their countries,
Speaker 1: and they have responded with reciprocal tariffs themselves. It's ironic
Speaker 1: that they don't like reciprocal tarists put on them by
Speaker 1: America because they've been abusing us for so long, but
Speaker 1: they did it to China.
Speaker 4: Well, that's exactly right. And incidentally, I think it's so
Speaker 4: interesting that the media they report every day when you know,
Speaker 4: when the stock market is down, but a lot of
Speaker 4: your listeners probably don't know this because it's not reported
Speaker 4: by the media. China's stock market is way down more
Speaker 4: than ours is. So they have way more to lose
Speaker 4: by not coming to an agreement with Trump than we do.
Speaker 4: I mean, if they can't trade with the United States,
Speaker 4: China is going to go into something that looked like
Speaker 4: the Great depression that we have in the nineteen thirties
Speaker 4: in the United States. They cannot possibly grow their economy
Speaker 4: if they can't sell products to our you know, twenty
Speaker 4: trillion dollar consumer market. And so the company understands that.
Speaker 4: I really believe having been around him now for the
Speaker 4: last eight years, this guy is like at least two
Speaker 4: moves on the chessboard to everybody of everybody else, and
Speaker 4: that's why he's been so successful. I want to make
Speaker 4: one other quick point. If by Maychewan, you did a
Speaker 4: good summation of what's happening with the economy, you left
Speaker 4: out something. We got a really good inflation number today. Surprise, surprise,
Speaker 4: Trump has ended the Biden inflation.
Speaker 3: This is two months in a row now an unexpected dip.
Speaker 3: I mean it.
Speaker 1: There's nothing this guy can do right in any way, shape, matter,
Speaker 1: or form. The White House National Economic Council Director Kevin
Speaker 1: has to announced that trade deals are moving very very quickly.
Speaker 1: Nearly twenty countries are sending in proposals. Now there's over
Speaker 1: seventy five countries. And this is the reason the President
Speaker 1: put the palls in place, is because these countries reacted
Speaker 1: the way they should have reacted. They know they've been
Speaker 1: ripping us off all these years. And the President was
Speaker 1: interesting in this cabinet meeting, which is only going to
Speaker 1: place some of this in the next hour, when he said,
Speaker 1: I don't really blame them, it's the people that were
Speaker 1: president at the time. And this has gone on for
Speaker 1: fifty or sixty years. They've allowed our country to be
Speaker 1: ripped off and taken advantage of. And any American president
Speaker 1: at any time could have and should have stopped this.
Speaker 1: But they don't have the intestinal fortitude of a Donald
Speaker 1: Trump to say, sorry, you don't get to rip off America.
Speaker 1: You don't get to hurt American manufacturing, you don't get
Speaker 1: to hurt American auto workers, you don't get to screw
Speaker 1: us over and meanwhile make a fortune office in at
Speaker 1: the same time.
Speaker 4: Well, as you know, I do believe in free trade.
Speaker 4: I understand how important it is to the world economy.
Speaker 2: But don't you have.
Speaker 3: A group don't you believe in free and fair trade?
Speaker 4: Exactly? Yes, that's that's what I was saying. What Trump
Speaker 4: is really convince me of is that you know, when
Speaker 4: when they're terrorists are two, three, four times higher than
Speaker 4: ours hour, that simply is not a fair playing field.
Speaker 4: It's not a level playing field. And Trump is basically
Speaker 4: flexing our economic muscle. He is exerting American power to
Speaker 4: force these countries to do what they should do. Anyways,
Speaker 4: I mean, I told you earlier this week on your
Speaker 4: show that you know these Europeans in the Japanese said,
Speaker 4: and all these said, the Chinese are so sank to mother, Gee,
Speaker 4: you know Trump is starting at trade Wark. We didn't
Speaker 4: start this. How do we start?
Speaker 1: We've been We've been the victim of this. All right,
Speaker 1: quick break more with Steve Moore on the other side,
Speaker 1: toll free on numbers eight hundred and ninety four one Sean.
Speaker 1: If you want to be a part of the program,
Speaker 1: the next hour will take you inside the President and
Speaker 1: his cabinet secretary from earlier Today a fascinating meeting today.
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Speaker 3: Today the Final Hour roundup is next.
Speaker 4: You do not want to miss it, and stay tuned
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Speaker 3: All right, we continue now with Steve Moore.
Speaker 1: Now, the European Union suspended their quote retaliatory tariffs against
Speaker 1: the US. We want to give negotiations a chance. I'm sorry.
Speaker 1: You know, we only charged a two and a half
Speaker 1: percent tariff on European countries. For example, on automobiles, they
Speaker 1: charge a ten percent tariff. But then they got something
Speaker 1: called the value added tax of that tax national sales tax.
Speaker 1: So that's an increase of thirty percent on the sticker
Speaker 1: price of any American automobile that's ever sold in Europe. Well,
Speaker 1: that makes it cost prohibitive for most people in Europe.
Speaker 1: That's why we sell so few automobiles America made automobiles
Speaker 1: in Europe. Germany, for example, sells ten German cars to
Speaker 1: like one American car sold here. Ninety four percent of
Speaker 1: cars purchased in Japan are are Japanese made, and at
Speaker 1: some point we've got a level of playing field.
Speaker 3: You know, why is Japan.
Speaker 1: A country that depends on us like European countries depend
Speaker 1: on us with the national security? Why are they putting
Speaker 1: a two hundred percent tariff on rice for example, Why
Speaker 1: is Canada putting these these, you know, ridiculously high tariffs.
Speaker 1: They start out at what five percent you sell x
Speaker 1: amount of dairy goods, which is like done in three weeks,
Speaker 1: and then it's a two hundred, two hundred and fifty
Speaker 1: percent tariff. They're hurting our farmers. They're hurting our dairy farmers,
Speaker 1: they're hurting our pole three people that are hurting everybody.
Speaker 4: Well, there's another element to this. Everything you said is
Speaker 4: absolutely correct, which is now what Trump is basically done
Speaker 4: is laid down the law, which is we are going
Speaker 4: to isolate China because they are.
Speaker 2: The bad actor.
Speaker 4: They are the new evil empire of the twenty first century.
Speaker 4: I think you'd agree with me. I'm at Sean and
Speaker 4: it's going to be interesting to see what these other
Speaker 4: nations that are supposedly our allies do. I mean Japan
Speaker 4: saying well, maybe we'll trade with China. Can you imagine
Speaker 4: anything stupider than that? I mean, China is as to
Speaker 4: the whole region and we're not coming to their rescue.
Speaker 4: China invades them, they if they stick a knife in
Speaker 4: our back. Same thing with the Europeans. I mean, how
Speaker 4: much have we spent on NATO over the last forty years?
Speaker 4: What a trillion dollars? Another thing, well, maybe we'll trade
Speaker 4: with our enemy.
Speaker 1: Okay, if that's their option, maybe they need to take
Speaker 1: a look at the tariffs that China currently has on them.
Speaker 1: So they're going to prefer to make a trade deal
Speaker 1: with China, or China is going to try and bypass
Speaker 1: the US. No, all of them want access to our markets.
Speaker 1: Kinda is not going to be buying European goods the
Speaker 1: way America will. They're not going to be buying Canadian
Speaker 1: products the way America would. That's not really an option.
Speaker 1: You know, it's interesting. Somebody works on my staff. It's Ethan.
Speaker 1: He works on his radio show. He said, you remember
Speaker 1: the nine to eleven Commission report. Quote, they were at
Speaker 1: war with us. We weren't at war with them. For
Speaker 1: fifty sixty years, all these countries have been waging economic
Speaker 1: war against America and ripping us off, and now we're
Speaker 1: fighting back for once. And the reaction is this is outrageous.
Speaker 1: You're supposed to be our ally. Oh you want you
Speaker 1: want this to be a one sided relationship. You get
Speaker 1: what you want, you get to rip us off, but
Speaker 1: we can't retaliate. And then you expect us to pay
Speaker 1: for national defense for you, and you'll come crying to
Speaker 1: us of God forbid you get attacked one day.
Speaker 4: Well, China is not just an economics threat. They're a
Speaker 4: military threat. But every time we invent something, have you
Speaker 4: noticed this? Uh, when whether it's a new microschip or
Speaker 4: a new computer or something, well, the first thing they
Speaker 4: do is Chinese they take all the pictures of it,
Speaker 4: you know, and they just go to their factories and
Speaker 4: they make the same thing. They completely disregard our patent laws.
Speaker 4: I mean, they played by none of the rules that
Speaker 4: are that that lead to innovation, and and it's and
Speaker 4: we do they do that with impunity.
Speaker 1: Yeah, as unbelievable, it really is. How long do you
Speaker 1: think this this goes on until it settles down?
Speaker 3: Here's my prediction.
Speaker 1: Pretty soon, in short order, Donald Trump's going to sign
Speaker 1: Deal number one, then Deal number two, and then Deal
Speaker 1: number three. And I think I think all of a sudden,
Speaker 1: everybody's going to all these you know, uh naysayers going
Speaker 1: to have egg all over their face.
Speaker 3: That's how I see this playing out.
Speaker 4: Exactly the same thing to the Wall Street Journal today
Speaker 4: what I was called by a reporter, it's you remember
Speaker 4: that game he used to play when you're a kid
Speaker 4: called musical chairs. Remember that one, Sean, But the music
Speaker 4: plays and then there's there's twelve people running on there's
Speaker 4: eleven chairs, and then one person's out, and then you know,
Speaker 4: you do it again and again. And that's exactly what
Speaker 4: Trump is doing. And he's saying, these countries, you better
Speaker 4: not be the one who's not sitting at the table,
Speaker 4: you know, the one left standing. And he's using that
Speaker 4: as a very shrewd negotiating tactic. And I agree with you.
Speaker 4: I think it's going to be a stampede over the
Speaker 4: next weeks of companies saying, you know, choose me, choose me,
Speaker 4: just me, because you don't want to be the one
Speaker 4: left out. And the ones that are LaGG roots, they're
Speaker 4: not going to get the As Trump has said this,
Speaker 4: I'm gonna give good deals in the company countries that
Speaker 4: come to the table first. If you're sitting around hemming
Speaker 4: and han, you're not, you're not gonna get a good
Speaker 4: So what do you think they're gonna do.
Speaker 1: I'll tell you a manufacturer, thank you Steve Moore, we
Speaker 1: appreciate you. And eight hundred and nine four one Shawn
Speaker 1: is a number you want to be a part of
Speaker 1: the program, We'll take you inside Trump's really enlightening cabinet
Speaker 1: meeting from earlier today when we come back