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Speaker 1: All right, So let's start with the big story, and

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Speaker 1: that is obviously tariffs and what is happening in the market.

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Speaker 1: If you looked at the close of the market, it

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Speaker 1: is very clear that the clothes that we have witnessed

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Speaker 1: on Thursday is a number that is shocked everybody. It's

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Speaker 1: Dow was down one thousand, six hundred and seventy nine points.

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Speaker 1: That's almost four percent of the total value. That was

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Speaker 1: not good for anybody. We can all agree on that.

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Speaker 1: There's also the reality that this will allow for some

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Speaker 1: great buys out there, and many people are actually talking

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Speaker 1: about doubling down because they know this is temporary and

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Speaker 1: not going to be a long term thing. Now we're

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Speaker 1: gonna hit pause on the markets very second. I'm gonna

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Speaker 1: come back and deal with them, and let's go and

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Speaker 1: actually deal with a policy, because if we just cover

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Speaker 1: the markets and the sky is falling, chicken little, and

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Speaker 1: you don't understand what's happening, then you're going to fall

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Speaker 1: into the liberal media and exactly what they want you

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Speaker 1: to say, Oh, is this what a red wave is?

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Speaker 1: That's one of the things trending with liberals. They're putting

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Speaker 1: up the picture of all the red on Wall Street

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Speaker 1: and they're like, Oh, I guess this is what a

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Speaker 1: red wave is, right, Like, you're an idiot in an

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Speaker 1: imbecile if that is how simplistic you're looking at this

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Speaker 1: terrif fight in what's going on in the world. Let's

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Speaker 1: go to what Donald Trump actually said. Trump said he

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Speaker 1: was not doing full reciprocal tariffs.

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Speaker 2: Number one.

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Speaker 1: He said that would have been tough for a lot

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Speaker 1: of countries. But what he is trying to do is

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Speaker 1: get us back to a fair playing field. With so

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Speaker 1: many countries that have tariffs on us, many Americans don't

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Speaker 1: even know that they're actually out there.

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Speaker 2: That's number one.

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Speaker 1: Number two, this is a smart strategy if it is

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Speaker 1: short term and not a long term and we go

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Speaker 1: into a full tariff war.

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Speaker 2: Now, can America outlast this? Yes?

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Speaker 1: Are there a lot of countries that can't handle the

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Speaker 1: pain that we can handle in this country? The entwer

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Speaker 1: is yes. If you're cashing out all your stocks, that

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Speaker 1: would be a dumb decision. If you're cashing out your

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Speaker 1: four to one K today, that'd be a dumb decision.

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Speaker 1: We've seen ups and downs in the markets. This is

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Speaker 1: where it's very clear. I'm not even opening my portfolio

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Speaker 1: today because this is not a real number. To me

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Speaker 1: that matters at this moment. I don't need this money

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Speaker 1: right now. I've seen multiple ups and downs, and what

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Speaker 1: I know is I'm investing for twenty years from now.

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Speaker 1: I'm actually just texted before I started the show my

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Speaker 1: finance advisor said, Hey, there's some cheap buys out there.

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Speaker 1: Can we meet tomorrow. I want to get in on

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Speaker 1: some different things. So there's some undervalued stocks from this.

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Speaker 1: There's opportunity. I'm going to take advantage of that. My

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Speaker 1: point is you can't just look at this as a

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Speaker 1: one day crisis and do the freak out, which is

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Speaker 1: exactly what the media is hoping is going to happen.

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Speaker 1: There is also an interesting point that was made by

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Speaker 1: center Ted Cruz, and I'm going to play that for

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Speaker 1: you in just a second. You've heard me talk about

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Speaker 1: Patriot Mobile for a long time now, and you probably

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Speaker 1: They are the real deal. So let me ask you

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Speaker 1: a question. Have you switched to Patriot Mobile yet?

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Speaker 2: Now?

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Speaker 1: If the answer is no, then I got to ask

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Speaker 1: you this question. Why are you worried about coverage?

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Speaker 2: Don't be.

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Speaker 1: Patriot Mobile is one of the few cell phone providers

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Speaker 2: In this country.

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Speaker 1: The fact is, if you have a cell phone service

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Speaker 1: why they offer a coverage guarantee that other companies don't

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Speaker 1: because you think that making the switch is painful.

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Speaker 1: No need to spend hours in a retail store waiting

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Speaker 1: It is time to switch to Patriot Mobile today and

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Speaker 2: You're gonna get a free month of service.

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Speaker 1: That's Patriot Mobile dot com slash ferguson or nine seven

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Speaker 1: that free month of service as well. All right, So

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Speaker 1: let me play for you what was said by Ted

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Speaker 1: Kruz when he was reacting to what's going on with

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Speaker 1: these tariffs. Because I think it's a very important point

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Speaker 1: that's being made, and it's a point that I think

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Speaker 1: a lot of Americans are going to agree with.

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Speaker 2: Take a listen.

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Speaker 3: Now on the tax cuts. You may, I don't know,

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Speaker 3: have you heard any of the show because of mister

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Speaker 3: Trump's reciprocity policy that he announced yesterday. The White House

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Speaker 3: is saying there could be six hundred billion dollar revenues

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Speaker 3: from the tariffs. I am proposing that dials revenues be

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Speaker 3: put into the Budget resolution and the Reconciliation bill, and

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Speaker 3: that you cut taxes even more to help the middle

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Speaker 3: class who have been shouldering the burden of falling real

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Speaker 3: wages for about twenty five years because of unfair and

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Speaker 3: unjust trading practices. If you have six hundred billion dollars, Senator,

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Speaker 3: if those are the estimates, I mean, now, ten years

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Speaker 3: is a gigantic number.

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Speaker 2: We need a fresh rent.

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Speaker 3: You need tax cuts, middle class tax cuts, corporate tax chut's.

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Speaker 3: I mean, I'm calling it a tariff dividend for taxpayers.

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Speaker 3: What do you think? I want you to carry this

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Speaker 3: ball for.

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Speaker 4: Me, So, Larry, you know I'm always in favor of

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Speaker 4: more tax cuts and bigger tax cuts, and I'm fighting

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Speaker 4: to make this tax cut as big and bold as possible. Look,

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Speaker 4: I think it is a mistake to assume that we

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Speaker 4: will have high tariffs and perpetuity.

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Speaker 5: I don't think that would be good economic policy.

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Speaker 4: I am not a fan of tariffs and the announcement yesterday. Look,

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Speaker 4: time is going to tell in the next month or two.

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Speaker 5: Or three what happens.

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Speaker 4: If the result of yesterday's announcement is a lot of

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Speaker 4: our trading partners across the globe dramatically reduce the tariffs

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Speaker 4: they charge on US goods and services, and the consequence

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Speaker 4: of that is the US government dramatically cuts the tariffs

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Speaker 4: that were announced yesterday, that would be a great outcome.

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Speaker 5: That would be good for America.

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Speaker 4: If the result is our trading partners jack up their

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Speaker 4: tariffs and we have high tariffs everywhere, I.

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Speaker 5: Think that is a bad outcome for America.

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Speaker 4: Tariffs are a tax on consumers, and I'm not a

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Speaker 4: fan of jacking up taxes on American consumers. So my

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Speaker 4: hope is these tariffs are short lived and they serve

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Speaker 4: as leverage to lower tariffs across the globe.

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Speaker 2: Now I agree with cinner Cruz here.

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Speaker 1: If they're done right and this is short term, this

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Speaker 1: is a smart decision. It's also already having an impact

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Speaker 1: on companies bringing jobs back to America.

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Speaker 2: Let me give you a perfect example of that proof.

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Speaker 1: General Motors has just announced they are going to expand

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Speaker 1: their production at their Indiana plant thanks to Trump's auto tariffs.

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Speaker 1: GM announcing today that its plant in Indiana is going

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Speaker 1: to expand because of the tariffs on foreign made cars.

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Speaker 1: Trump announced a twenty five percent tariff on all foreign

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Speaker 1: made cars to protect the nation's auto industry from quote

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Speaker 1: unfair trade competition. GIM executives said they will increase production

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Speaker 1: of light neuty trucks at their automaker's Fort Wayne assembly

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Speaker 1: plant in Indiana.

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Speaker 2: According to the exclusive report from.

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Speaker 1: Reuters Today, the Detroit automaker may also add overtime days

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Speaker 1: to schedule. The plant director told employees in a webcast,

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Speaker 1: saying the move will increase employment there with the hiring

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Speaker 1: of several hundred new workers. This is after, by the way,

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Speaker 1: the United Auto Workers Knows. The UAW have praised Trump's

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Speaker 1: auto tariffs as a necessary tool to end the nation's

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Speaker 1: decade long free trade policy that has devastated.

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Speaker 2: American auto workers and the industry. Quote.

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Speaker 1: We applaud the Trump administration for stepping up to end

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Speaker 1: the free trade disaster that devastated the working class communities

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Speaker 1: in America for decades. Ending the race to the bottom

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Speaker 1: in the auto industry starts with fixing our broken trade deals,

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Speaker 1: and the Trump administration has made history with their actions. Now,

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Speaker 1: this again goes back to any time you have something

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Speaker 1: that has to change that is way off course, whether

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Speaker 1: it's in your personal life, for business life, or in

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Speaker 1: the government, it is going to be hard at the beginning.

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Speaker 1: We've seen this with Doge and all the pushback. We've

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Speaker 1: seen this with law Fair and all the pushback. I mean,

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Speaker 1: the list is long here, and so what I think

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Speaker 1: is important is to say, all right, is Donald Trump

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Speaker 1: right in what he's saying.

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Speaker 2: I believe he is. If it is a.

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Speaker 1: Short term thing and not a long term thing, then

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Speaker 1: this is something that we can all agree is a

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Speaker 1: good thing. Now, if it goes on for too long

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Speaker 1: or it starts a really long trade war, it's something

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Speaker 1: that we can all say, hey, we got to ask

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Speaker 1: questions about. We get careful with it as the way

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Speaker 1: that Center Cruz described it. But overall, right now, the

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Speaker 1: way that this is working out, it is clear that

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Speaker 1: America has the advantage. Now, let me play for you

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Speaker 1: what Donald Trump actually said, because there's been a lot

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Speaker 1: of misinformation out there, and what Trump said when he

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Speaker 1: announced these full all right, I should say these reciprocal

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Speaker 1: tariffs that were not full reciprocal tariffs. And Donald Trump

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Speaker 1: went down the list. He asked for the list, they

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Speaker 1: brought it up. You're gonna hear him ask for that,

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Speaker 1: and I want you to hear what Trump had to

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Speaker 1: say in his own words. I'm not gonna edit this

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Speaker 1: because I think it's important.

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Speaker 2: This is a big issue.

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Speaker 1: And I want you to hear the President explain this

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Speaker 1: to everyone.

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Speaker 6: The tariffs will be not a full reciprocal I could

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Speaker 6: have done that, yes, but it would have been tough

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Speaker 6: for a lot of countries who didn't want to do that.

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Speaker 6: I'd like to see the chart. If you have it,

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Speaker 6: could you bring it up? Howard. This is our great

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Speaker 6: Secretary of Commerce, Howard Lutnick. Thanks.

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Speaker 7: So.

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Speaker 6: If you look at that China first row, China, sixty

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Speaker 6: seven percent, that's tariffs charged to the USA, including currency

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Speaker 6: manipulation and trade barriers, so sixty seven percent. I think

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Speaker 6: you can, for the most part see it. Those with

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Speaker 6: good eyes bad eyes. We didn't want to bring it's

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Speaker 6: very windy out here. We didn't want to bring out

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Speaker 6: the big charge because it had no chance of standing. Fortunately,

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Speaker 6: we came armed with a little smaller charge. So sixty

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Speaker 6: seven percent. So we're going to be charging a discounted

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Speaker 6: reciprocal tariff of thirty four percent. I think. In other words,

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Speaker 6: they charge us, we charge them, we charge them less.

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Speaker 6: So how can anybody be upset? They will be because

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Speaker 6: we never charge anybody anything. But now we're gonna charge

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Speaker 6: European Union. They're very tough, very very tough traders. Uh

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Speaker 6: you know you think of European Union, very friendly. They

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Speaker 6: rip us off. It's so sad to see, it's so pathetic.

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Speaker 6: Thirty nine percent. We're gonna charge them twenty percent, so

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Speaker 6: we're charging them potentially half Vietnam great negotiators, great people.

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Speaker 6: They like me.

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Speaker 5: I like them.

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Speaker 6: The problem is they charge is ninety percent. We're gonna

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Speaker 6: charge them forty six percent tariff. Taiwan where they make.

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Speaker 6: They took all of our computer chips and semiconductors. We

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Speaker 6: used to be the king, right, we were everything. We

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Speaker 6: had all of it. Now we have almost none of it.

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Speaker 6: Except the biggest company is coming in. They're gonna have

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Speaker 6: We're gonna end up with almost forty percent. Lee Zelden's

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Speaker 6: working to get their approvals and it's.

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Speaker 2: An amazing company.

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Speaker 6: Mister way of one of the great companies of the world. Actually,

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Speaker 6: they're coming in from Taiwan and they're going to build

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Speaker 6: one of the biggest plants in the world, maybe the

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Speaker 6: biggest for that, but sixty four percent, we're going to

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Speaker 6: charge them thirty two percent. Japan very very tough, great people.

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Speaker 6: And again I don't blame the people for doing it.

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Speaker 6: It's I think they're very smart to do it. I

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Speaker 6: blame the people that sat right in that Oval office,

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Speaker 6: right over there, right behind the resolute desk, whichever desk

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Speaker 6: they chose. Japan forty six percent, they would charge us

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Speaker 6: forty six percent, and much higher for certain items like cars,

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Speaker 6: you know, little items like cars, forty six percent. We're

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Speaker 6: charging them twenty four percent. India very very, very very tough.

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Speaker 6: The Prime Minister just left. He's a great friend of mine,

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Speaker 6: but I said, you're a friend of mine, but you're

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Speaker 6: not treating us right. They charged us fifty two percent.

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Speaker 6: You have to understand, we charge them almost nothing for

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Speaker 6: years and years and decades, And it was only seven

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Speaker 6: years ago when I came in. We started with China

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Speaker 6: charged that we took in hundreds of billions of dollars

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Speaker 6: from China in tariffs and they understood. Honestly, Presidency understood.

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Speaker 6: He said, look, I understand, and the other countries and

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Speaker 6: they all understand. We're gonna have to go through a

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Speaker 6: little tough love maybe, but they all understand they're ripping

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Speaker 6: us off, and they understood it. Prime Minister of Japan,

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Speaker 6: Shinzo was Shinzo Abbi. He was a fantastic man. He

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Speaker 6: was unfortunately taken from US assassination. But I went to

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Speaker 6: him and I said, Shinzo, we have to do something.

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Speaker 6: A trade is not fair. He said, I know that.

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Speaker 6: I know that, and he was a great gentleman. He

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Speaker 6: was a fantastic man. But he understood immediately what I

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Speaker 6: was talking about. I said, Shinzo, we have to do something.

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Speaker 6: He said, I know that, and we've worked out a

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Speaker 6: deal and it would have.

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Speaker 2: Been a much better deal.

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Speaker 6: But frankly, there were many years left in the deal

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Speaker 6: that was made previous to my getting there, but it

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Speaker 6: was it was something if you look at Switzerland sixty

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Speaker 6: one percent to thirty one percent, Indonesia, Malaysia, Cambodi. Who

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Speaker 6: look at Cambodia in ninety seven percent, we're going to

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Speaker 6: bring it down to forty nine. They made a fortune

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Speaker 6: with the United States of America, United Kingdom ten percent,

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Speaker 6: and we'll go ten percent. So we'll do the same thing.

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Speaker 6: South Africa, oh, sixty percent, thirty percent, and they've got

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Speaker 6: some bad things going on in South Africa. You know,

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Speaker 6: we're paying them billions of dollars that we cut the

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Speaker 6: funding because a lot of bad things are happening in

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Speaker 6: South Africa. The fake newso to be looking at it,

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Speaker 6: they don't, I want to report it. Brazil ten percent,

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Speaker 6: ten percent, Bangladesh is seventy four percent, so you see

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Speaker 6: what's going on. Pakistan fifty eight percent, Sri Lanka eighty

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Speaker 6: eight percent.

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Speaker 2: So what we're.

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Speaker 6: Doing is we're taking not the full we could take

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Speaker 6: the full eighty eight percent.

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Speaker 1: By the way, you noticed what Donald Trump is saying here,

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Speaker 1: And the reason why I played that for you un

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Speaker 1: interrupted is because I wanted you to actually hear his logic.

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Speaker 1: You just heard him say the part about we could

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Speaker 1: have gone the full eighty eight percent.

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Speaker 2: We didn't. We win forty four.

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Speaker 1: So if you're upset that Trump is doing this, then

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Speaker 1: the question you should be asking yourself is, Okay, why

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Speaker 1: are you upset? Because of the instant gratification of now,

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Speaker 1: are you understanding that the President's trying to do something,

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Speaker 1: which is stop countries from taking advantage of us. That

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Speaker 1: is something, by the way, the White House Press secretary

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Speaker 1: set on CNN today. They didn't like it, Okay, they

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Speaker 1: were upset that she set it. Caroline Levitt talking about

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Speaker 1: the trade deficit that we're trying to correct.

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Speaker 2: Listen to what she said on CNN.

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Speaker 5: To anyone on.

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Speaker 8: Wall Street this morning, I would say, trust in President Trump.

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Speaker 8: This is a president who is doubling down on his

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Speaker 8: proven economic formula. From his first term. We saw wages increase,

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Speaker 8: we saw inflation come down, we had a Trump energy boom,

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Speaker 8: we had the largest tax cuts in history. And that's

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Speaker 8: exactly what the President intends to do following his historic

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Speaker 8: announcement yesterday. For reciprocal terists, it's the Golden Aid rule

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Speaker 8: for the Golden Age of America, and the United States

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Speaker 8: of America is no longer going to be cheated by

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Speaker 8: foreign nations around the world. And as the President declared yesterday,

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Speaker 8: this is indeed a national emergency. We have a one

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Speaker 8: point two trillion dollar trade deficit in counting. We've had

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Speaker 8: ninety thousand factories closed in the last couple of decades.

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Speaker 8: Since nineteen ninety seven, Americans have been put out of

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Speaker 8: five million manufacturing jobs. These are not just statistics. These

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Speaker 8: are real American lives that have been impact and it's

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Speaker 8: about time we have a president who actually does something

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Speaker 8: about it. This is going to restore more wealth, more jobs,

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Speaker 8: more economic prosperity to our great country.

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Speaker 2: You hear what she says, and let's break it down.

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Speaker 1: We have a one point two trillion dollar trade deficit

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Speaker 1: in counting. We've had ninety thousand factories closed in the

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Speaker 1: last couple of decades alone.

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Speaker 2: How many American jobs were lost?

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Speaker 1: Since nineteen ninety seven, Americans have been put out of

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Speaker 1: five million manufacturing jobs. Five million jobs disappeared. And as

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Speaker 1: she described, these are not just statistics. These are real

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Speaker 1: American lives that have been impacted. Now, why is Donald

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Speaker 1: Trump doing it? Because he's the one that's willing to

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Speaker 1: do the hard things other politicians are like and the

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Speaker 1: advisors walking like, hey, you can't do this right, like

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Speaker 1: whether it's Social Security or Medicare, Medicaid, like there's a

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Speaker 1: third row issues. This is a perfect example, like hey,

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Speaker 1: leave tarff Slan, shut up, don't do it. Kick the

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Speaker 1: can down the road. The deficit kick it down the road,

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Speaker 1: like there's gonna.

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Speaker 2: Be a day of reckoning.

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Speaker 1: And what Donald Trump is saying is is I'm not

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Speaker 1: running for reelection ever again. Okay, like I'm But what

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Speaker 1: I do know is if we're taking advantage of here.

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Speaker 2: And I'm not gonna let it keep happening.

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Speaker 1: Eric Trump put out a very interesting tweet earlier and

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Speaker 1: he said this, I wouldn't want to be the last

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Speaker 1: country that tries to negotiate a trade deal with Donald Trump.

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Speaker 1: The first negotiate will win, the last will absolutely lose.

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Speaker 1: I have seen this movie my entire life. And the

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Speaker 1: point that that I think Eric Trump is making there

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Speaker 1: is is if you think you're gonna outlast Donald Trump,

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Speaker 1: you're wrong. Now there's sky, it's falling, chicken little here, okay,

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Speaker 1: and and and that's.

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Speaker 2: That's part of this.

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Speaker 1: There is that, right, And and that's what the media

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Speaker 1: is hoping that you're gonna do. You're gonna abandon Trump,

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Speaker 1: You're gonna run away. You're gonna say, oh, I lost

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Speaker 1: too much money. This is ridiculous. Just go back to

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Speaker 1: SaaS Quo. It doesn't mean that things are getting any better.

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Speaker 1: And Donald Trump's saying I want the jobs back. Let

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Speaker 1: me also just give you a perfect example of what

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Speaker 1: I mean by Donald Trump is doing the hard thing, okay,

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Speaker 1: the hard thing that others are not willing to do.

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Speaker 1: And let me also just give you a perspective for

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Speaker 1: a second. You know what Mexico's economic policies are, Mexico first.

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Speaker 1: Do you know what Canada's economic policies are Canada first?

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Speaker 1: Do you know what China's economic policies are China first?

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Speaker 1: You know what India's economic policy is, India first. So

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Speaker 1: the question is to me, why shouldn't America's economic policies

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Speaker 1: be specifically America first?

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Speaker 2: Like that?

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Speaker 1: That is the question that so many people should be

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Speaker 1: asking right now. This should be a very simple America

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Speaker 1: first policy. That is what Donald Trump is trying to

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Speaker 1: shepherd in here. And by the way, there's a lot

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Speaker 1: of people in Congress that used to agree with this,

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Speaker 1: but then they decided, for either corruption reasons or lobbyist reasons,

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Speaker 1: or they just decide to woos out and put America

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Speaker 1: second and everybody else.

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Speaker 2: First, that they were going to change their minds.

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Speaker 1: I'm going to take you back to nineteen ninety six

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Speaker 1: and I'm going to play for you what Nancy Pelosi

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Speaker 1: said back in nineteen ninety six, speaking on the issue

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Speaker 1: of tariffs and the trade deficit in nineteen ninety six,

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Speaker 1: with China, almost all the Democrats out there are hypocrites.

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Speaker 1: They're wanting the sky to fall, They're wanting you to

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Speaker 1: abandon Trump. They don't ever want to do the hard thing.

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Speaker 1: They never want to do the hard thing. So I

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Speaker 1: want you to hear and listen and listen to Nancy

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Speaker 1: Pelosi in nineteen nine on the four of the House

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Speaker 1: lose her mind over China, the trade deficit and the

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Speaker 1: issue of tariffs.

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Speaker 7: How far does China have to go, how much more repression,

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Speaker 7: how big a trade deficit and loss of jobs for

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Speaker 7: the American worker, and how much more dangerous proliferation has

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Speaker 7: to exist before members of this House of Representatives will say,

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Speaker 7: I will not endorse the status quo.

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Speaker 2: By the way, I like this Nancy Pelosi. I want

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Speaker 2: to be clear about this.

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Speaker 1: This is before she became an insider trading woman who

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Speaker 1: just said I'm going to get rich and I'm going

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Speaker 1: to sell out America to China into other countries. This

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Speaker 1: is when I actually think she thought she was serving

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Speaker 1: the people. She's abandoned that for the last what thirty years,

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Speaker 1: But in nineteen ninety six, this is pretty good stuff

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Speaker 1: from Nancy Pelosi.

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Speaker 2: Keep listening.

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Speaker 7: As I mentioned, it's about jobs, proliferation, and human rights.

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Speaker 7: And there are those who say we shouldn't link human

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Speaker 7: rights in trade and proliferation and trade. I disagree, But

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Speaker 7: if we just want to take up this issue on

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Speaker 7: the basis of economics alone, indeed, China should not receive

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Speaker 7: Most Favored Nation status for several reasons that I'd like

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Speaker 7: to go into now. I'd like to call the attention

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Speaker 7: of our colleagues to this chart on the status quo

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Speaker 7: that the business community is asking each and every one

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Speaker 7: of you to, each and every one of us to endorse.

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Speaker 5: Today.

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Speaker 7: Right now, we have a thirty four billion dollar trade

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Speaker 7: deficit with China. The nineteen ninety five figure, it will

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Speaker 7: be over forty billion dollars for nineteen ninety six. Since

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Speaker 7: the Tenement Square massacre, this figure has increased one thousand

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Speaker 7: percent from three and a half billion then to about

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Speaker 7: thirty four billion dollars now. In terms of tariffs, it's

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Speaker 7: think it's interesting to note that the average MFN tariff

439
00:22:51,920 --> 00:22:55,240
Speaker 7: on Chinese goods coming into the United States is two percent,

440
00:22:55,880 --> 00:23:00,320
Speaker 7: whereas the average Chinese MFF tariff on US goods going

441
00:23:00,359 --> 00:23:04,200
Speaker 7: into China is thirty five percent. Is that reciprocal?

442
00:23:05,200 --> 00:23:10,520
Speaker 1: Nancy Pelusi in nineteen ninety six is saying the exact

443
00:23:10,920 --> 00:23:14,240
Speaker 1: same thing that Donald Trump said at the White House yesterday.

444
00:23:15,160 --> 00:23:20,000
Speaker 1: Is that reciprocal average US tariff on Chinese goods two percent,

445
00:23:20,800 --> 00:23:24,639
Speaker 1: average Chinese tariff on US goods thirty five percent.

446
00:23:24,800 --> 00:23:25,480
Speaker 2: Keep listening.

447
00:23:25,520 --> 00:23:29,160
Speaker 1: This is Nancy Pelosi ninety six actually saying the honest

448
00:23:29,200 --> 00:23:33,159
Speaker 1: and right thing before she sold out on exports.

449
00:23:33,480 --> 00:23:37,840
Speaker 7: China only allows certain industries into China of US industries

450
00:23:37,880 --> 00:23:41,639
Speaker 7: into China, and therefore only two percent of US exports

451
00:23:41,680 --> 00:23:45,240
Speaker 7: are allowed into China. On the other hand, the US

452
00:23:45,280 --> 00:23:48,760
Speaker 7: allows China to flood our markets with thirty a third

453
00:23:48,880 --> 00:23:51,960
Speaker 7: of their exports, and that'll probably go over forty percent.

454
00:23:52,359 --> 00:23:55,560
Speaker 7: And it's limitless because we have not placed any restriction

455
00:23:56,200 --> 00:23:59,280
Speaker 7: in terms of jobs. This is the biggest and cruelest

456
00:23:59,400 --> 00:24:03,320
Speaker 7: pox of ball. Not only do we not have market access,

457
00:24:03,600 --> 00:24:06,560
Speaker 7: not only do they have prohibitive tariffs. Not only are

458
00:24:06,600 --> 00:24:12,360
Speaker 7: our exports not let in very specifically, but China benefits with.

459
00:24:12,400 --> 00:24:14,120
Speaker 2: At least at least.

460
00:24:14,200 --> 00:24:18,520
Speaker 7: Ten million jobs from US China trade. The President and

461
00:24:18,640 --> 00:24:24,440
Speaker 7: his statement requesting this special waiver said that it China

462
00:24:24,520 --> 00:24:28,040
Speaker 7: trade supports one hundred and seventy thousand jobs in the

463
00:24:28,119 --> 00:24:32,840
Speaker 7: United States one hundred and seventy thousand jobs, whereas our

464
00:24:32,880 --> 00:24:37,399
Speaker 7: imports from China support ten million jobs at least. The

465
00:24:37,560 --> 00:24:41,160
Speaker 7: fact is that that US China trade is a job loser,

466
00:24:41,800 --> 00:24:44,480
Speaker 7: and one of the reasons that it is is because

467
00:24:44,520 --> 00:24:46,760
Speaker 7: in order well first, let me just make another point,

468
00:24:46,760 --> 00:24:49,440
Speaker 7: and that is that our colleagues on the other side

469
00:24:49,440 --> 00:24:52,200
Speaker 7: of this issue will say the trade with China, exports

470
00:24:52,200 --> 00:24:54,960
Speaker 7: to China have increased three times in the last ten years.

471
00:24:55,400 --> 00:24:59,440
Speaker 7: They have, but they failed to mention that exports imports

472
00:24:59,480 --> 00:25:03,760
Speaker 7: from China have increased eleven times and thereby leading to

473
00:25:03,800 --> 00:25:05,160
Speaker 7: this huge trade deficit.

474
00:25:06,119 --> 00:25:10,199
Speaker 1: I go back to back in ninety six when Nancy

475
00:25:10,240 --> 00:25:14,920
Speaker 1: Pelosi was saying this, she truly was sounding the alarm

476
00:25:15,400 --> 00:25:18,359
Speaker 1: that China was taking advantage of America and it was

477
00:25:18,440 --> 00:25:22,440
Speaker 1: catastrophic to the American worker, and it was catastrophic to

478
00:25:23,200 --> 00:25:27,640
Speaker 1: our industries and to manufacturing, and it was costing American jobs.

479
00:25:27,800 --> 00:25:30,720
Speaker 1: And the trade deficit was insane, and the tariffs were

480
00:25:30,880 --> 00:25:33,240
Speaker 1: insane that we were dealing with compared to what we

481
00:25:33,400 --> 00:25:36,119
Speaker 1: compared to what we were putting on them. And guess what,

482
00:25:37,240 --> 00:25:41,240
Speaker 1: it's not gotten any better since ninety six. So if

483
00:25:41,240 --> 00:25:44,359
Speaker 1: the problem was this bad in nineteen ninety six, then

484
00:25:44,480 --> 00:25:46,960
Speaker 1: put it into perspective about how bad the problem is

485
00:25:46,960 --> 00:25:49,879
Speaker 1: in twenty twenty five. You want to know why Donald

486
00:25:49,920 --> 00:25:52,320
Speaker 1: Trump is doing this. This is why Donald Trump is

487
00:25:52,359 --> 00:25:56,200
Speaker 1: doing this because it has been this bad for thirty

488
00:25:56,480 --> 00:26:01,119
Speaker 1: plus years, and nobody has had the jones to deal

489
00:26:01,119 --> 00:26:05,159
Speaker 1: with this issue for one reason. They didn't want to

490
00:26:05,240 --> 00:26:09,440
Speaker 1: upset the apple cart. They didn't want to lose their

491
00:26:09,480 --> 00:26:13,960
Speaker 1: approval rating. They didn't want to have a moment where

492
00:26:14,119 --> 00:26:16,520
Speaker 1: it things may get tough for a little bit and

493
00:26:16,600 --> 00:26:19,800
Speaker 1: have to go out there and explain it to American people.

494
00:26:19,880 --> 00:26:22,040
Speaker 1: So what did their advisors say, Hey, don't touch that,

495
00:26:22,119 --> 00:26:23,680
Speaker 1: just kick it down the road. You don't want to

496
00:26:23,680 --> 00:26:24,920
Speaker 1: go to war on this stuff. You don't want to

497
00:26:24,920 --> 00:26:26,280
Speaker 1: deal with US tarriffs, you don't want to deal with

498
00:26:26,320 --> 00:26:27,000
Speaker 1: China directly.

499
00:26:27,359 --> 00:26:28,000
Speaker 2: You don't want to.

500
00:26:28,680 --> 00:26:32,360
Speaker 1: And by the way, China, despite US tariffs, this is important.

501
00:26:32,440 --> 00:26:35,760
Speaker 1: China's currently leading the world in automobile production and exports.

502
00:26:37,480 --> 00:26:38,200
Speaker 2: They're the king.

503
00:26:39,000 --> 00:26:40,760
Speaker 1: We allow them to be the king, and they killed

504
00:26:40,800 --> 00:26:49,639
Speaker 1: American jobs in the process. They are the king, and

505
00:26:49,840 --> 00:26:56,160
Speaker 1: everybody knows it. China knows it more than anybody. China

506
00:26:56,240 --> 00:27:02,640
Speaker 1: understands it more than anyone. China understand just how easy

507
00:27:02,760 --> 00:27:06,920
Speaker 1: it is to take advantage of America because they knew that.

508
00:27:06,960 --> 00:27:09,000
Speaker 1: We had a bunch of wisses. Why do you think

509
00:27:09,040 --> 00:27:11,840
Speaker 1: the last administration didn't do anything one They were compromised

510
00:27:11,840 --> 00:27:13,720
Speaker 1: by China. We know that from the Biden crime family.

511
00:27:14,080 --> 00:27:15,840
Speaker 1: They were on the take, so they were able to

512
00:27:15,840 --> 00:27:19,520
Speaker 1: buy off the last administration. Like doing great things is hard.

513
00:27:20,040 --> 00:27:22,840
Speaker 1: You look at where we are right now. Border is

514
00:27:22,840 --> 00:27:23,600
Speaker 1: now closed.

515
00:27:23,880 --> 00:27:27,439
Speaker 2: That was hard. MS thirteen and the TDA gang are

516
00:27:27,480 --> 00:27:28,160
Speaker 2: being deported.

517
00:27:28,240 --> 00:27:31,119
Speaker 1: That's hard. No more men and women's sports. Still a

518
00:27:31,160 --> 00:27:33,800
Speaker 1: fight going on. Democrats standing up, that's a hard thing.

519
00:27:33,920 --> 00:27:36,119
Speaker 1: Food price is going down. That's a good thing, but

520
00:27:36,160 --> 00:27:38,479
Speaker 1: it's been a hard thing. Gas price is going down.

521
00:27:38,800 --> 00:27:40,680
Speaker 1: That's a good thing. It's also been a hard thing.

522
00:27:41,000 --> 00:27:44,440
Speaker 1: Housing is becoming more affordable. That was a good thing.

523
00:27:44,520 --> 00:27:47,680
Speaker 1: It's a hard thing to deal with. Inflation going down.

524
00:27:47,720 --> 00:27:51,360
Speaker 1: Egg price is going down five trillion and new investments

525
00:27:51,400 --> 00:27:55,400
Speaker 1: in America from companies, no more DII hundreds of billions

526
00:27:55,440 --> 00:28:00,119
Speaker 1: of government spending. Fraud has been stopped through DOGE when

527
00:28:00,160 --> 00:28:03,600
Speaker 1: there are countries yesterday that are removing tariffs against the US.

528
00:28:04,040 --> 00:28:05,560
Speaker 2: Part of this is you've got to.

529
00:28:05,640 --> 00:28:12,320
Speaker 1: Understand that when this happens, okay, it is if it

530
00:28:12,760 --> 00:28:14,800
Speaker 1: nothing that is grand.

531
00:28:14,640 --> 00:28:16,640
Speaker 2: Or great usually is easy.

532
00:28:17,359 --> 00:28:19,680
Speaker 1: When we've been taking advantage of and this has become

533
00:28:19,720 --> 00:28:22,560
Speaker 1: the status quo, and we keep bowing down and looking

534
00:28:22,600 --> 00:28:26,600
Speaker 1: the other way. For the last thirty years, more than that,

535
00:28:27,160 --> 00:28:31,359
Speaker 1: thirty five, thirty six, thirty seven years, China's been like

536
00:28:31,800 --> 00:28:34,919
Speaker 1: just beating the you know what out of us, and

537
00:28:34,960 --> 00:28:37,000
Speaker 1: other countries looked at China and they're like, hey, we

538
00:28:37,040 --> 00:28:39,080
Speaker 1: can do this too. There are some countries that were

539
00:28:39,160 --> 00:28:41,200
Speaker 1: inspired by China, by the way, there really were.

540
00:28:41,280 --> 00:28:43,440
Speaker 2: There was a lot of countries.

541
00:28:43,240 --> 00:28:47,200
Speaker 1: That were inspired by China, and they're like, if China

542
00:28:47,240 --> 00:28:47,640
Speaker 1: can get.

543
00:28:47,560 --> 00:28:49,560
Speaker 2: Away with us, hell, then maybe we can get away

544
00:28:49,560 --> 00:28:52,920
Speaker 2: with us too. Maybe we can maybe we can do

545
00:28:53,040 --> 00:28:53,840
Speaker 2: the same thing.

546
00:28:54,680 --> 00:28:59,680
Speaker 1: And so they learned from this, They learned from watching,

547
00:29:00,320 --> 00:29:03,560
Speaker 1: they learn from sitting there and going America's not doing

548
00:29:03,560 --> 00:29:04,080
Speaker 1: anything stuff.

549
00:29:04,120 --> 00:29:05,640
Speaker 2: This is China. Why don't we get on the action.

550
00:29:05,800 --> 00:29:08,000
Speaker 1: Why do you think it got so out of whack

551
00:29:08,080 --> 00:29:10,280
Speaker 1: with all the numbers that Donald Trump said earlier that

552
00:29:10,320 --> 00:29:13,960
Speaker 1: I presented to you, They got out of whack because

553
00:29:14,000 --> 00:29:17,240
Speaker 1: they watched and they realized that America was not willing

554
00:29:17,280 --> 00:29:19,480
Speaker 1: to fight back. And so is the President saying, now

555
00:29:19,800 --> 00:29:23,400
Speaker 1: I'm not screwing around. I'm standing up for the American worker.

556
00:29:23,960 --> 00:29:27,800
Speaker 1: And this is a thirty five forty year chiropractic adjustment.

557
00:29:27,840 --> 00:29:31,120
Speaker 1: It's gonna be hard, but it's an adjustment that should

558
00:29:31,120 --> 00:29:33,880
Speaker 1: have happened back in nineteen ninety six when Nancy Pelosi

559
00:29:33,960 --> 00:29:36,680
Speaker 1: was talking about it. So to everybody out there that's

560
00:29:36,840 --> 00:29:40,840
Speaker 1: going crazy over this, just know, calm down and let

561
00:29:40,840 --> 00:29:45,160
Speaker 1: it run its course. Okay, like, let it run its course.

562
00:29:47,200 --> 00:29:50,960
Speaker 1: This isn't just about products made in America. The Chinese

563
00:29:50,960 --> 00:29:54,360
Speaker 1: want American products that are that are made in China.

564
00:29:54,920 --> 00:29:57,360
Speaker 1: The transfer of the technology and the transfer of the

565
00:29:57,480 --> 00:30:01,320
Speaker 1: jobs has taken place. Those are new Nancy Pelosi's exact

566
00:30:01,400 --> 00:30:04,200
Speaker 1: words in ninety six, and they sound exactly like Donald

567
00:30:04,240 --> 00:30:05,200
Speaker 1: Trump's words.

568
00:30:04,960 --> 00:30:06,480
Speaker 2: In twenty twenty five.

569
00:30:07,280 --> 00:30:09,720
Speaker 1: Do me a favor, make sure you share this podcast

570
00:30:09,880 --> 00:30:12,800
Speaker 1: with your family, your friends, put it up on social media,

571
00:30:12,840 --> 00:30:15,120
Speaker 1: wherever you are on social media, and I will see

572
00:30:15,120 --> 00:30:16,320
Speaker 1: you back here tomorrow