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Speaker 1: China fighting back, imposing a thirty four percent tariff on

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Speaker 1: all US imports. The announcement coming on Friday morning that

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Speaker 1: they imposed that thirty four percent tariff on all US

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Speaker 1: goods in retaliation for President Donald Trump's Liberation Day tariffs

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Speaker 1: on Wednesday. The Chinese tariff hike is scheduled to take

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Speaker 1: effect on April tenth. The Chinese government said it had

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Speaker 1: filed the lawsuit with the World Trade Organization the WTO,

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Speaker 1: also over the Trump tariffs, saying, quote, the United States

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Speaker 1: imposition of so called reciprocal tariffs seriously violates WTO rules,

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Speaker 1: seriously damages the legitimate rights and interests of WTO members,

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Speaker 1: and seriously undermines the rules based multilateral trading system and

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Speaker 1: international economic and trade order, the Chinese Commerce Ministry said

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Speaker 1: in a statement announcing their retaliatory tariffs.

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Speaker 2: Now.

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Speaker 1: China obviously imposed a fifteen percent tariff on coal and

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Speaker 1: liquefied natural gas from the United States of America, as

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Speaker 1: well as a ten percent tariff on crude oil, agricultural machinery,

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Speaker 1: and certain motor vehicles as part of the escalating trade

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Speaker 1: war with the United States. The retaliatory actions on Friday

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Speaker 1: morning also included more export controls on rare earth materials,

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Speaker 1: which are vital to manufacturing products such as computer chips

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Speaker 1: and electric vehicles. The ev batteries are something that China

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Speaker 1: has a major impact on worldwide and in America. Also, more

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Speaker 1: US firms added to a list of companies under the

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Speaker 1: trade sanctions for exporting quote dual use products within military

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Speaker 1: applications that also in this retaliatory tariff. China on Friday

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Speaker 1: also halted poultry imports from two American companies. They claimed,

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Speaker 1: and this is not a joke, it was because of

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Speaker 1: quote banded drugs were detected in the chicken products that

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Speaker 1: they shipped to China. Pretty rich for a country that

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Speaker 1: created the well Luhan Corona virus.

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Speaker 3: Of course, this is all I in retaliatory. I'm sure.

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Speaker 1: China's Customs Administration also issued a separate statement it will

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Speaker 1: suspend imports of poultry meat and bone meal animal feed

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Speaker 1: from Mountain Air Farms of Delaware and three other American companies.

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Speaker 1: President Trump dismissed China's retaliatory actions, saying Beijing played it

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Speaker 1: wrong and panicked. After his tariffs were announced, Trump said

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Speaker 1: panicking was the one thing that they cannot afford to do. Now,

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Speaker 1: it's not all doom and gloom, but many in the

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Speaker 1: media are doing everything he can to try to use

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Speaker 1: this to tank Donald Trump. So what is the real

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Speaker 1: impact of a stock market that is obviously having a

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Speaker 1: significant change if you're looking at it, Yes, there is

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Speaker 1: quote panic from some others. However, are seeing a huge

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Speaker 1: opportunity to buy stocks at a major discount, so when

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Speaker 1: the market rebounds, it will be huge gains.

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Speaker 3: Charles Pain at Fox.

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Speaker 1: Business put it this way about what all this means interesting.

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Speaker 4: Aspect of the stock market's reaction to quote unquote uncertainty.

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Speaker 4: When we approach a crosswalk, you know, particularly let's say

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Speaker 4: a woman out street, a street without traffic lights, there's

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Speaker 4: always additional risk, right then if there's heavy traffic, there's

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Speaker 4: even more risk, and then if it's rush hour, there's

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Speaker 4: even more risk.

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Speaker 3: All of that adds up.

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Speaker 4: To significant uncertainty, and in some cases we find an

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Speaker 4: alternative route. Of course, the stock markets the opposite, right,

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Speaker 4: The hints of this market are kennon to running into

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Speaker 4: that traffic head on during the height of rush hour.

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Speaker 4: In other words, folks, the market is acting with a

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Speaker 4: certainty that the corporate bottom lines are going to be slimmed.

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Speaker 4: So the question is for investors, at what point is

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Speaker 4: the damage so excessive that even though it doesn't feel

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Speaker 4: like the coast is clear, maybe it will be.

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Speaker 5: Now.

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Speaker 4: A lot of this comes down in the hopes that

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Speaker 4: with President Trump, maybe as far as that Trump put

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Speaker 4: that starting in the fad here, because well, listen, this

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Speaker 4: is just one of the posts from today. He remains

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Speaker 4: step fast. He says, ignore the markets. The boom will

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Speaker 4: come later. And a lot of sophisticated investors believe that

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Speaker 4: because it's worked over two hundred years, it's happened, But

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Speaker 4: in the midst of it, it does not feel that well.

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Speaker 1: Now, Charles Pain isn't the only one saying that, Hey,

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Speaker 1: relaxed for a moment, and this is going to be

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Speaker 1: short term pain with major American goals of success, especially

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Speaker 1: for American workers down the road. Even the Fed chairman

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Speaker 1: was asked today about the economy, and what did he

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Speaker 1: say after some record job numbers came in.

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Speaker 3: Here is his own words.

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Speaker 6: The economy is still in a good place. The incoming

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Speaker 6: data show solid growth, a labor market in balance, and

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Speaker 6: inflation running much closer to but still above our two objective.

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Speaker 6: After a couple of years of solid growth, many forecasters

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Speaker 6: have anticipated somewhat slower growth this year. The initial reading

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Speaker 6: for first quarter GDP will be released later this month.

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Speaker 6: The limited hard data are consistent, though with a slower

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Speaker 6: but still solid growth outlook. At the same time, surveys

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Speaker 6: of households and businesses report dimming expectations and higher uncertainty

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Speaker 6: about the outlook. Survey respondents point to the effects of

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Speaker 6: the new federal policies, especially related to trade. We are

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Speaker 6: closely watching this tension between the hard and the soft data.

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Speaker 6: As the new policies and their likely economic effects become clearer,

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Speaker 6: we will have a better sense of their implications for

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Speaker 6: the economy and for monetary policy. Looking across many indicators,

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Speaker 6: the labor market appears to be broadly in balanced and

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Speaker 6: not a significant source of inflationary pressure. This morning's jobs

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Speaker 6: report showed the unemployment rate at four point two percent

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Speaker 6: in March, still in the low range where it is

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Speaker 6: held since early last year. Over the first quarters a quarter,

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Speaker 6: payrolls grew by an average of one hundred and fifty

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Speaker 6: thousand jobs per month. The combination of low layoffs, moderating

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Speaker 6: job growth and slowing labor force growth has kept the

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Speaker 6: unemployment rate broadly stable. Turning to the other leg of

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Speaker 6: our dual mandate, inflation has declined sharply from its pandemic

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Speaker 6: highs of mid twenty twenty two. It is done so

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Speaker 6: without the kind of painful rise in unemployment that has

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Speaker 6: often accompanied periods of tight monetary policy that are needed

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Speaker 6: to reduce inflation. More recently, progress toward our two percent

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Speaker 6: inflation objective has slowed. Total PCEE prices rose two point

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Speaker 6: five percent over the twelve months ending in February. Core

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Speaker 6: PCE prices, which exclude the volatile food and energy categories,

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Speaker 6: rose two point eight percent.

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Speaker 1: So even the Fed Chairman Powe is saying, hey, our

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Speaker 1: economy is good, Our economy can handle this. With the

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Speaker 1: President's doing right now is something that is long overdue.

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Speaker 1: And yes, there are some short term hiccups here. And

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Speaker 1: this is where you have to trust the President of

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Speaker 1: United States of America. Now let's be very clear. Also,

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Speaker 1: the Democrats, I've gone all in to attack Donald Trump.

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Speaker 1: I'll give you a great example of this. On MSNBC,

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Speaker 1: the San Antonio mayor, on Trump's tariffs, said that America

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Speaker 1: will pay the brunt of the trade war that the

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Speaker 1: President is doing right now, and you should all be terrified.

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Speaker 3: Fifty past the hour.

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Speaker 2: Despite a promise to lower prices for struggling Americans, President

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Speaker 2: Trump's terrorists, as of right now, are expected to increase

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Speaker 2: the cost of everything from cars, tools, clothes, groceries, and

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Speaker 2: so many other things. Americans are already feeling the impact,

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Speaker 2: especially in cities where the local economies are defined by

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Speaker 2: international trade. According to one big city mayor, San Antonio's

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Speaker 2: mayor Ron Narrenberg, quote, international trade helped lift thousands of

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Speaker 2: San Antonio families into the middle class as our city

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Speaker 2: became the economic gateway to Mexico. Mayor Nierrenburg is with

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Speaker 2: us this afternoon. It's good to see Maeric. Thank you

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Speaker 2: for your time. I know that your city is the

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Speaker 2: seventh most populous city in the US. What are your

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Speaker 2: biggest concerns going forward?

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Speaker 7: Well, my biggest concern going forward, Hose, is that at

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Speaker 7: the worst possible time, American families are going to be

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Speaker 7: the ones to pay for the brunt of this trade war.

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Speaker 7: We know that tariffs are our job killers and their

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Speaker 7: price increases for local consumers. And we know that you

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Speaker 7: know as a result of inflation that's occurred post pandemic.

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Speaker 7: American workers are already are already struggling at the grocery

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Speaker 7: aisle and everywhere else. We are fighting to continue the

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Speaker 7: economic recovery that it began a few years ago in

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Speaker 7: the soft landing that we achieved, and this is going

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Speaker 7: to send us back in reverse.

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Speaker 1: So if you want to know who's rooting against the

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Speaker 1: American economy, just watch TV, MSNBE, CNN.

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Speaker 3: They're all over this.

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Speaker 1: It's telling you Donald Trump is ruining your life. In reality,

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Speaker 1: it is going to take some time before we see

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Speaker 1: major changes come. And the President knew this from the

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Speaker 1: very beginning. This is also something he's been talking about

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Speaker 1: and campaigned on that America was being taken advantage of,

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Speaker 1: and that's exactly why he's clearly saying we're gonna stay

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Speaker 1: the course.

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Speaker 3: We also know now.

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Speaker 1: That Vietnam has any emergency delegation in the US and

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Speaker 1: is already working with the White House as we speak

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Speaker 1: to get a deal done to lower the tariffs on

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Speaker 1: both sides.

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Speaker 3: So if you think it's all doom and gloom, it's not.

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Speaker 1: There are many people that are in other countries right

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Speaker 1: now that are already talking with the Trump administration to

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Speaker 1: get a better deal, and that better deal was for

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Speaker 1: all Americans, our workers, and our manufacturing. All right, So

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Speaker 1: let's talk real quick about what's actually happening in America

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Speaker 1: and the the purpose of these retaliatory tariffs or reciprocal tariffs,

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Speaker 1: however you want to describe it was to put American

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Speaker 1: workers first.

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Speaker 3: Is that going to happen?

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Speaker 1: Ford Motor Company was asked that exact question their CEO

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Speaker 1: on Fox Business with Stuart Varney, and I want you

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Speaker 1: to hear what the Ford CEO said, after Donald Trump's

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Speaker 1: twenty five percent tariffs on auto imports is in effect.

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Speaker 1: Listen carefully, Andrew, can you make can full produce a

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Speaker 1: car one hundred made in the United States?

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Speaker 8: Wellow, Stuart, thanks for having me. I really appreciate it.

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Speaker 8: You know, Ford is a number America's number one auto manufacturer,

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Speaker 8: and we assemble more US vehicles and we employ more

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Speaker 8: US hourly autoworkers than any other OEM. And we want

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Speaker 8: to do more, not less, here in the US.

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Speaker 6: Uh.

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Speaker 8: You know, eighty percent of what we sell in the

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Speaker 8: US is assembled right here in the United States. And

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Speaker 8: it would be helpful to have certain parts here in

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Speaker 8: the US, and the White House gets that's that.

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Speaker 4: So, yeah, how long would it take for you to

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Speaker 4: be able to make all the pots in the United States?

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Speaker 8: Well, like I said, we already assemble eighty percent of

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Speaker 8: our vehicles right here in the US, including the UP

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Speaker 8: one fifty which is actually rolling down the assembly line

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Speaker 8: right behind me here at Dearborn Truck. So relatively speaking,

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Speaker 8: we're in a good position. But we're in a complex

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Speaker 8: industry relying on a lot of different suppliers, and we

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Speaker 8: need to ensure that we have the right supply chain

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Speaker 8: ecosystem in place here in the US to do so.

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Speaker 8: And we're working with the administration to get clarity on

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Speaker 8: parts to grow jobs here in the US for us

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Speaker 8: to be able to do that.

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Speaker 1: You listen to what the president there CEO of Ford

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Speaker 1: is saying, and he's like, we're ready to go. This

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Speaker 1: also means that we're hiring, that we're getting more people

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Speaker 1: asap in to Ford to be able to do what

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Speaker 1: we think we're going to have happen because of these tariffs.

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Speaker 3: That is good news again for the American worker.

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Speaker 1: Now you look at what Donald trum Trump said, and

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Speaker 1: what he said was this is going to be something

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Speaker 1: we're going to have to fight.

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Speaker 3: You also have to ask yourself this question, is the.

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Speaker 1: President doing the right thing, especially in reaction to what

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Speaker 1: big retailers are saying like Walmart. Big retailers are saying

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Speaker 1: that they are well not happy. They're announcing publicly their

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Speaker 1: displeasure with President Trump and is America's first policy every

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Speaker 1: civical tariffs on Wednesday when Trump said it was Liberation Day,

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Speaker 1: while the big box stores are saying not for their

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Speaker 1: bottom line, many would think the Corporate America, hoping to

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Speaker 1: better the nation's workers.

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Speaker 3: I say that tongue in.

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Speaker 1: Cheek would embrace the trade policies that would put America

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Speaker 1: on a more even footing with its trading partners. Given

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Speaker 1: that Corporate America had embraced his America First agenda back

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Speaker 1: in January, well guess what they really don't care about

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Speaker 1: American workers.

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Speaker 3: They care about their bottom line.

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Speaker 1: Walmart CEO met with Trump in January ahead of his inauguration,

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Speaker 1: with a Walmart spokeman Foksmen saying quote, we stand ready

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Speaker 1: to help move our country forward. Many of America's business

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Speaker 1: leaders congratulated Trump on his election last November. Many of

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Speaker 1: them attending the inauguration and met with the president before

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Speaker 1: its term in office even started. In March, Trump even

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Speaker 1: met with these CEOs at a business roundtable and non Parson,

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Speaker 1: DC based Economic Advocacy Group comprise the more than two

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Speaker 1: hundred CEOs. Despite what seemed like the apparent embrace between

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Speaker 1: corporate Americans and Trump, it has become clear that the

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Speaker 1: National Retail Federation known as NRF no longer backs his

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Speaker 1: America First policies. Upon announcing these reciprocal tariffs, the NRF

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Speaker 1: releases statement from its executive vice president of Governmental Relations

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Speaker 1: contending that more tariffs lead to higher costs for American families, saying, quote,

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Speaker 1: tariffs are a tax paid by the US importer that

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Speaker 1: will be passed along to the end consumer. Tariffs will

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Speaker 1: not be paid by foreign countries or suppliers. The whole

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Speaker 1: point is that you start making in America so you

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Speaker 1: don't have to pay the tariffs. That's what clearly Donald

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Speaker 1: Trump's trying to do. But David French saying no, that's

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Speaker 1: not the case. We just need you to make this

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Speaker 1: all go back to how it was before. We want

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Speaker 1: cheap goods at a cheap price, and we don't care

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Speaker 1: about American workers. Well, despite the frequent claims from anti

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Speaker 1: tariff advocates, economists of the Federal Reserve and the National

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Speaker 1: Bureau of Economic Research found minimal pass through into the

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Speaker 1: broad inflation. Breitbart News also reporting this, saying that right now,

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Speaker 1: it looks like the people that are the most mad

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Speaker 1: are those that have been getting rich off of foreign

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Speaker 1: workers who are actually living terrible lives in their countries.

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Speaker 1: They don't care about building back America or building American jobs.

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Speaker 1: They just want cheap goods from cheap labor, and they

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Speaker 1: don't want it to be from America. Well, Big Retail

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Speaker 1: is America first in name only. Apparently after witnessing what

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Speaker 1: these CEOs are now saying publicly, companies like Walmart are

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Speaker 1: not happy.

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Speaker 3: So if the last.

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Speaker 1: Twenty four to forty eight hours have taught us anything

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Speaker 1: it's that the magabase is growing and corporate America can

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Speaker 1: no longer ignore us.

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Speaker 3: That's number one.

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Speaker 1: But number two these companies, they're digging in against Trump

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Speaker 1: because they want to make maximum profits no matter what

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Speaker 1: happens to American workers. MAGA voters clearly chose in November

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Speaker 1: that they didn't want an administration that would continue to

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Speaker 1: abandon them. And there are many Republican operatives, by the way,

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Speaker 1: in Washington, d c. That have no problem working now

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Speaker 1: to undermine Donald Trump. Now, I go back to what

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Speaker 1: jd Vance said quote. So, for forty years, America has

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Speaker 1: been the piggy bank of the world. Not only that

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Speaker 1: we absorb all of the ridiculous trade practices and economic

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Speaker 1: practices of friend and foe alike. For the first time

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Speaker 1: in probably forty years, we have an American president who's

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Speaker 1: saying no more, that it's not going to work. He's

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Speaker 1: not going to allow America to be taken advantage of

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Speaker 1: any more. You've already seen a number of American manufacturers

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Speaker 1: and a number of foreign manufacturers who are saying they're

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Speaker 1: going to build or expand plants in America. That means

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Speaker 1: more workers with good middle class jobs. That means more

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Speaker 1: self sufficientcy in the United States of America. Again, it

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Speaker 1: can't happen unless you have a president who fights back

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Speaker 1: against these ridiculous trade policies. Finally, we have a president

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Speaker 1: who's doing exactly that now, Van saying this in the

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Speaker 1: Rose Guard event the White House, making it clear that

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Speaker 1: we're not going to back down and that America he

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Speaker 1: believes has more than enough leverage to.

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Speaker 3: Change the game.

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Speaker 1: Many supporters, by the way of the President, are saying,

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Speaker 1: give it its time, it needs Nothing is going to

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Speaker 1: be fixed in a number of hours or days. But

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Speaker 1: I go back to how many countries are now reaching

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Speaker 1: out to the Trump administration saying, we want to sit down,

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Speaker 1: we want to have a conversation, we want to get

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Speaker 1: a deal done. We already know that Vietnam loaded up

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Speaker 1: their plane and went to America.

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Speaker 3: They are now sitting in Washington having meetings.

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Speaker 1: Right now trying to work out a deal when it

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Speaker 1: comes to something that both sides can live with. And

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Speaker 1: there's many other countries that are staring at Vietnam and

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Speaker 1: watching to see what happens now. This also all comes

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Speaker 1: as there's some good news. Job numbers crushed expectations with

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Speaker 1: two hundred and twenty eight thousand jobs added in March,

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Speaker 1: as Trump's economy defies the critics. This was not the

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Speaker 1: news the media or the left wanted to hear, because

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Speaker 1: employers in the United States of America added two hundred

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Speaker 1: and twenty eight thousand workers to their payroll in March,

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Speaker 1: the Department of Labor said on Friday, and the unemployment

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Speaker 1: rate inched up to four point two percent. Economists had

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Speaker 1: been expecting only one hundred and forty thousand jobs would

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Speaker 1: be added in March. The climate the unemployment rate was

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Speaker 1: also expected. Now, the private sector's hiring was much stronger

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Speaker 1: than anyone expected, including the Trump administration. Economists had forecast

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Speaker 1: about one hundred and fifteen thousand jobs.

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Speaker 3: Businesses added two hundred nine.

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Speaker 1: Thousand jobs, and the workforce participation rate climbed from sixty

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Speaker 1: two point four percent to sixty two point five percent.

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Speaker 1: The average workweek lengthened, a sign of increased demand for

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Speaker 1: labor as well. Average hourly earnings rose zero point three

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Speaker 1: percent compared with February and three point eight percent compared

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Speaker 1: with one year ago when the Biden regime was in charge.

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Speaker 1: So what does this mean. It means the economy is

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Speaker 1: actually strong. The strong job numbers is the latest piece

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Speaker 1: of economic data suggesting the economy remains on a solid footing,

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Speaker 1: just like you heard from the Treasury Secretary earlier, despite

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Speaker 1: surveys showing quote gloomy consumer sentiment, rising policy uncertainty, and

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Speaker 1: businesses that are weary of future economic conditions. At the

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Speaker 1: end of the day, Donald Trump said, give it its time,

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Speaker 1: it needs to work, and we're also adding record jobs

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Speaker 1: right now during a time when everyone else said it

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Speaker 1: was impossible.

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Speaker 3: So I'll say this yet again. I think what Donald

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Speaker 3: Trump is.

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Speaker 1: Doing right now is a very smart game of negotiations

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Speaker 1: with many powers around the world that cannot hang on

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Speaker 1: as long as America can to win, and that is

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Speaker 1: exactly why so many Americans will end up winning at

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Speaker 1: the end of the day. Let me also just give

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Speaker 1: you a perfect example of what I mean by Donald

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Speaker 1: Trump is doing the hard thing, okay, the hard thing

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Speaker 1: that others are not willing to do. And let me

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Speaker 1: also just give you a perspective for a second. You

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

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Speaker 1: what Canada's economic policies are, Canada first.

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Speaker 3: Do you know what.

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Speaker 1: China's economic policies are China first. You know what India's

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Speaker 1: economic policy is, India first. So the question is to me,

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Speaker 1: why shouldn't America's economic policies be specifically America first?

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Speaker 3: 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 3: 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 ninety six on the four of the

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

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Speaker 1: the issue of tariffs.

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Speaker 5: How far does China have to go? How much more repression,

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Speaker 5: how big a trade deficit and loss of jobs for

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Speaker 5: the American worker, and how much more dangerous proliferation has

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Speaker 5: to exist before members of this House of Representatives will

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Speaker 5: say I will not endorse the status quo.

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Speaker 3: By the way, I like this Nancy Pelosi. I want

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Speaker 3: 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. Keep listening.

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Speaker 5: As I mentioned, it's about jobs, proliferation, and human rights.

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Speaker 5: And there are those who say we shouldn't link human

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Speaker 5: rights in trade and proliferation and trade. I disagree. But

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Speaker 5: if we just want to take up this issue on

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Speaker 5: the basis of economics alone, indeed, China should not receive

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Speaker 5: Most Favored Nation status for several reasons that I'd like

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Speaker 5: to go into now. I'd like to call the attention

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Speaker 5: of our colleagues to this chart on the status quo

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Speaker 5: that the business community is asking each and every one

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Speaker 5: of you, to each and every one of us to

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Speaker 5: endorse today. Right now, we have a thirty four billion

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Speaker 5: dollar trade deficit with China ninety five figure it will

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Speaker 5: be over forty billion dollars for nineteen ninety six. Since

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Speaker 5: the Tenement Square massacre, this figure has increased one thousand

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Speaker 5: percent from three and a half billion then to about

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Speaker 5: thirty four billion dollars now. In terms of tariffs, it's

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Speaker 5: think it's interesting to note that the average US MFN

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Speaker 5: tariff on Chinese goods coming into the United States is

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Speaker 5: two percent, whereas the average Chinese MFF tariff on US

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Speaker 5: goods going into China is thirty five percent. Is that reciprocal?

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Speaker 1: Nancy Pelusi in nineteen ninety six is saying the exact

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Speaker 1: same thing that Donald Trump said at the White House yesterday.

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Speaker 1: Is that reciprocal average US tariff on Chinese goods two percent,

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Speaker 1: average Chinese tariff on US goods thirty five percent.

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Speaker 3: Keep listening.

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Speaker 1: This is Nancy Pelosi ninety six actually saying the honest

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Speaker 1: and right thing before she sold out on exports.

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Speaker 5: China only allows certain industries into China of US industries

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Speaker 5: into China, and therefore only two percent of US exports

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Speaker 5: are allowed into China. On the other hand, the US

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Speaker 5: allows China to flood our markets with thirty a third

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Speaker 5: of their exports, and that'll probably go over forty percent.

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Speaker 5: And it's limitless because we have not placed any restriction

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Speaker 5: in terms of jobs. This is the biggest and cruelest

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Speaker 5: hoax of all. Not only do we not have market access,

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Speaker 5: not only do they have prohibitive tariffs, not only are

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Speaker 5: our exports not let in very specifically, but China benefits.

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Speaker 3: With at least at least ten.

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Speaker 5: Million jobs from US China trade. The President and his

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Speaker 5: statement requesting this special waiver said that it China trade

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Speaker 5: supports one hundred and seventy thousand jobs in the United

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Speaker 5: States one hundred and seventy thousand jobs, whereas our imports

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Speaker 5: from China support ten million jobs at least. The fact

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Speaker 5: is that that US China trade is a job loser,

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Speaker 5: and one of the reasons that it is is because

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Speaker 5: in order well first, let me just make another point,

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Speaker 5: and that is that our colleagues on the other side

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Speaker 5: of this issue will say the trade with China, exports

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Speaker 5: to China have increased three times in the last ten years.

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Speaker 5: They have, but they failed to mention that exports imports

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00:25:29,240 --> 00:25:33,639
Speaker 5: from China have increased eleven times, thereby leading to this

443
00:25:33,760 --> 00:25:34,920
Speaker 5: huge trade deficit.

444
00:25:35,880 --> 00:25:39,959
Speaker 1: I go back to back in ninety six, when Nancy

445
00:25:40,000 --> 00:25:44,680
Speaker 1: Pelosi was saying this, she truly was sounding the alarm

446
00:25:45,160 --> 00:25:48,080
Speaker 1: that China was taking advantage of America and it was

447
00:25:48,200 --> 00:25:52,159
Speaker 1: catastrophic to the American worker, and it was catastrophic to

448
00:25:52,960 --> 00:25:57,360
Speaker 1: our industries and to manufacturing, and it was costing American jobs.

449
00:25:57,520 --> 00:26:00,320
Speaker 1: And the trade deficit was insane, and the tear griffs

450
00:26:00,320 --> 00:26:02,639
Speaker 1: were insane that we were dealing with compared to what

451
00:26:02,760 --> 00:26:05,320
Speaker 1: we compared to what we were putting on them. And

452
00:26:05,440 --> 00:26:09,440
Speaker 1: guess what, it's not gotten any better since ninety six.

453
00:26:10,560 --> 00:26:13,560
Speaker 1: So if the problem was this bad in nineteen ninety six,

454
00:26:13,960 --> 00:26:16,600
Speaker 1: then put it into perspective about how bad the problem

455
00:26:16,640 --> 00:26:19,320
Speaker 1: is in twenty twenty five. You want to know why

456
00:26:19,359 --> 00:26:21,960
Speaker 1: Donald Trump is doing this. This is why Donald Trump

457
00:26:22,000 --> 00:26:25,320
Speaker 1: is doing this because it has been this bad for

458
00:26:25,520 --> 00:26:30,520
Speaker 1: thirty plus years, and nobody has had the cojones to

459
00:26:30,600 --> 00:26:34,800
Speaker 1: deal with this issue. For one reason, they didn't want

460
00:26:34,840 --> 00:26:38,080
Speaker 1: to upset the apple cart. They didn't want to lose

461
00:26:39,000 --> 00:26:43,359
Speaker 1: their approval rating. They didn't want to have a moment

462
00:26:43,440 --> 00:26:46,120
Speaker 1: where it things may get tough for a little bit

463
00:26:46,160 --> 00:26:48,680
Speaker 1: and have to go out there and explain it to

464
00:26:48,720 --> 00:26:51,400
Speaker 1: American people. So what did their advisors say, Hey, don't

465
00:26:51,480 --> 00:26:53,200
Speaker 1: touch that, just kick it down the road. You don't

466
00:26:53,240 --> 00:26:54,480
Speaker 1: want to go to war on this stuff. You don't

467
00:26:54,480 --> 00:26:55,800
Speaker 1: want to deal with US tariffs. You don't want to

468
00:26:55,800 --> 00:26:58,720
Speaker 1: deal with China directly. You don't want to. And by

469
00:26:58,720 --> 00:27:02,440
Speaker 1: the way, China, despite US tariffs, this is important. China

470
00:27:02,520 --> 00:27:05,520
Speaker 1: is currently leading the world in automobile production and exports.

471
00:27:07,200 --> 00:27:07,920
Speaker 3: They're the king.

472
00:27:08,720 --> 00:27:10,480
Speaker 1: We allow them to be the king, and they killed

473
00:27:10,520 --> 00:27:13,440
Speaker 1: American jobs in the process.

474
00:27:15,240 --> 00:27:17,240
Speaker 3: They are the.

475
00:27:17,320 --> 00:27:24,800
Speaker 1: King, and everybody knows it. China knows it more than anybody.

476
00:27:25,640 --> 00:27:31,679
Speaker 1: China understands it more than anyone. China understands just how

477
00:27:31,880 --> 00:27:35,760
Speaker 1: easy it is to take advantage of America because they

478
00:27:35,800 --> 00:27:38,399
Speaker 1: knew that we had a bunch of wisses. Why do

479
00:27:38,440 --> 00:27:40,760
Speaker 1: you think the last administration didn't do anything? Well, One,

480
00:27:40,840 --> 00:27:42,560
Speaker 1: they were compromised by China. We know that from the

481
00:27:42,560 --> 00:27:45,200
Speaker 1: Biden crime family. They were on the take, so they

482
00:27:45,200 --> 00:27:48,080
Speaker 1: were able to buy off the last administration. Like, doing

483
00:27:48,119 --> 00:27:48,960
Speaker 1: great things is.

484
00:27:48,920 --> 00:27:52,439
Speaker 3: Hard, you look at where we are right now. Border

485
00:27:52,480 --> 00:27:54,280
Speaker 3: is now closed. That was hard.

486
00:27:54,480 --> 00:27:58,760
Speaker 1: MS thirteen and the TDA gang are being deported that's hard.

487
00:27:58,960 --> 00:28:01,520
Speaker 1: No more men and womens. Still a fight going on.

488
00:28:01,640 --> 00:28:04,439
Speaker 1: Democrats standing up. That's a hard thing. Food price is

489
00:28:04,480 --> 00:28:06,320
Speaker 1: going down. That's a good thing, but it's been a

490
00:28:06,359 --> 00:28:09,240
Speaker 1: hard thing. Gas price is going down. That's a good thing.

491
00:28:09,240 --> 00:28:12,560
Speaker 1: It's also been a hard thing. Housing is becoming more affordable.

492
00:28:12,920 --> 00:28:15,040
Speaker 1: That was a good thing. It's a hard thing to

493
00:28:15,080 --> 00:28:18,800
Speaker 1: deal with. Inflation going down. Egg price is going down

494
00:28:19,560 --> 00:28:23,199
Speaker 1: five trillion, and new investments in America from companies, no

495
00:28:23,320 --> 00:28:26,840
Speaker 1: more DII, hundreds of billions of governments spending. Fraud has

496
00:28:26,880 --> 00:28:31,280
Speaker 1: been stopped through DOGE, and there are countries, yes today

497
00:28:31,320 --> 00:28:34,240
Speaker 1: that are removing tariffs against the US. Part of this

498
00:28:34,480 --> 00:28:40,480
Speaker 1: is you've got to understand that when this happens, okay,

499
00:28:41,320 --> 00:28:44,520
Speaker 1: it is if it nothing that is grand.

500
00:28:44,360 --> 00:28:46,360
Speaker 3: Or great usually is easy.

501
00:28:47,080 --> 00:28:49,400
Speaker 1: When we've been taking advantage of and this has become

502
00:28:49,440 --> 00:28:52,320
Speaker 1: the status quo, and we keep bowing down and looking

503
00:28:52,320 --> 00:28:56,320
Speaker 1: the other way. For the last thirty years, more than that,

504
00:28:56,880 --> 00:29:00,280
Speaker 1: thirty five, thirty six to thirty seven years, China's been

505
00:29:01,000 --> 00:29:03,840
Speaker 1: like just beating the you know what out of US,

506
00:29:04,520 --> 00:29:06,640
Speaker 1: and other countries looked at China and they're like, hey,

507
00:29:06,640 --> 00:29:08,680
Speaker 1: we can do this too. There were some countries that

508
00:29:08,720 --> 00:29:10,960
Speaker 1: were inspired by China. By the way, there really were.

509
00:29:11,000 --> 00:29:15,480
Speaker 1: There was a lot of countries that were inspired by China,

510
00:29:15,880 --> 00:29:17,920
Speaker 1: and they're like, if China can get away with this hell,

511
00:29:18,040 --> 00:29:21,200
Speaker 1: then maybe we can get away with us too. Maybe

512
00:29:21,240 --> 00:29:24,520
Speaker 1: we can maybe we can do the same thing. And

513
00:29:24,600 --> 00:29:30,200
Speaker 1: so they learned from this. They learned from watching, They

514
00:29:30,320 --> 00:29:33,240
Speaker 1: learned from sitting there and going America's not.

515
00:29:33,200 --> 00:29:34,960
Speaker 3: Doing anything stuff. This is China. Why don't we get

516
00:29:34,960 --> 00:29:35,360
Speaker 3: on the action.

517
00:29:35,520 --> 00:29:37,720
Speaker 1: Why do you think it got so out of whack

518
00:29:37,800 --> 00:29:39,960
Speaker 1: with all the numbers that Donald Trump said earlier that

519
00:29:40,040 --> 00:29:43,680
Speaker 1: I presented to you, they got out of whack because

520
00:29:43,720 --> 00:29:47,000
Speaker 1: they watched and they realized that America was not willing

521
00:29:47,000 --> 00:29:49,200
Speaker 1: to fight back. And so was the President saying, now

522
00:29:49,560 --> 00:29:53,120
Speaker 1: I'm not screwing around. I'm standing up for the American worker.

523
00:29:53,720 --> 00:29:57,520
Speaker 1: And this is a thirty five forty year chiropractic adjustment.

524
00:29:57,560 --> 00:30:00,840
Speaker 1: It's gonna be hard, but it's an adjustment that should

525
00:30:00,880 --> 00:30:03,560
Speaker 1: have happened back in nineteen ninety six when Nancy Pelosi

526
00:30:03,680 --> 00:30:06,440
Speaker 1: was talking about it. So to everybody out there that's

527
00:30:06,560 --> 00:30:10,560
Speaker 1: going crazy over this, just know, calm down and let

528
00:30:10,600 --> 00:30:14,880
Speaker 1: it run its course. Okay, Like, let it run its course.

529
00:30:15,680 --> 00:30:19,440
Speaker 1: This isn't just about products made in America. The Chinese

530
00:30:19,440 --> 00:30:24,080
Speaker 1: want American products that are made in China. The transfer

531
00:30:24,120 --> 00:30:26,440
Speaker 1: of the technology and the transfer of the jobs has

532
00:30:26,520 --> 00:30:30,880
Speaker 1: taken place. Those are Nancy Pelosi's exact words in ninety six,

533
00:30:31,120 --> 00:30:33,960
Speaker 1: and they said exactly like Donald Trump's words in twenty

534
00:30:34,080 --> 00:30:38,640
Speaker 1: twenty five. Don't forget Share this podcast please on social

535
00:30:38,680 --> 00:30:42,160
Speaker 1: media wherever you're listening, Grab it, hit that auto button,

536
00:30:42,200 --> 00:30:44,920
Speaker 1: that forward button, share it. Put it out there so

537
00:30:45,000 --> 00:30:47,200
Speaker 1: other people can find this show. Without you guys doing that,

538
00:30:47,320 --> 00:30:49,800
Speaker 1: we don't get new audience members. So if you want

539
00:30:49,800 --> 00:30:52,760
Speaker 1: to help fight back against what we're exposing, share it

540
00:30:52,840 --> 00:30:53,640
Speaker 1: on social media.

541
00:30:53,760 --> 00:30:54,960
Speaker 3: I'll see you back here tomorrow.