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I made a commitment to the American people to cut wasteful spending in Washington. We don't have to wait for Congress to act. Leaders in both parties have worked on cutting waste and making government more efficient. Since we haven't seen as much action out of Congress as we'd like, we're launching our own efforts to address this issue.

We don't need lumber from other countries. We're going to free up our forests and start taking down trees. We're currently too restricted environmentally, so we'll be using an emergency order to free up our forests. We have some of the best forests and lumber, so we don't need trees from Canada or anywhere else. We even have to create slits, those 50-60 yard areas between the trees, to prevent fires.

This isn't a trade war, but a balancing of our economy with countries that have taken advantage of us for decades, getting rich over the backs of American workers. Unfair trade deals have caused the loss of manufacturing jobs, with production moving overseas and then being sold back to the U.S. Countries need access to the U.S. economy, the largest and greatest in the world, but it's costing manufacturing jobs. It is time for someone to stand up, and President Trump is applauded for being the first president to stand up and address this. It's about the future of America's economy. Trade deficits have increased year after year, and President Trump is finally doing something about it.

I claim to be the chosen one, stating that China has made $500 billion by ripping off the United States through intellectual property theft and other means. I believe someone had to take action, so I am taking on China in trade. And the good news is, we are winning.

The speaker believes tariffs should be placed on goods the U.S. makes, not on goods it doesn't, and sees them as a bargaining chip. They claim that Europe and Japan have 100% tariffs on American cars, preventing Ford and GM sales. The speaker suggests the U.S. should reciprocate to force negotiation and lower tariffs, allowing American companies to compete. While broad statements are necessary when running for office, tariffs are an amazing tool to protect the American worker. The speaker believes tariffs will either generate revenue or drive up domestic productivity, ideally both. The speaker references the Marshall Plan, where the U.S. allowed Germany and Japan to tariff American goods to rebuild their economies after World War II. They question why this arrangement persists decades later, with Europe and Japan still heavily tariffing U.S. industries like auto and furniture. The speaker attributes foreign-made furniture purchases to this tariff imbalance.

And yet we we let Japan come in and dump everything right into our markets and everything. It's not free trade. If you ever go to Japan right now and try to sell something, forget about it, Albert. Just forget about it. It's almost impossible. They don't have laws against it. They just make it impossible. They come over here. They sell their cars, their VCRs. They knock the hell out of our companies.

India has been a high tariff nation, making it difficult to sell into their market due to strong trade barriers. We're now moving to a reciprocal system; whatever tariffs India imposes, we will match. Previously, during my first term, we had the strongest economy ever, but I held off on reciprocal tariffs due to global suffering caused by COVID. Now, after decades of abuse, it's time to implement this fairness mechanism with many nations, not just India. The European Union is very difficult, and China was terrible until we started collecting hundreds of billions of dollars from them. I discussed India's high tariffs in the first term but couldn't get concessions. So, we're simply matching their tariffs, which is fair to the United States and, I believe, fair to India as well.

I've asked the VP to lead our efforts with Mexico and the Northern Triangle to help stem the migration to our southern border.

The speaker created a trade enforcement union to investigate unfair trade practices. The speaker also signed a bill to help American companies facing unfair foreign competition due to foreign government subsidies. A new trade case is being brought against China, joined by Japan and European allies, regarding rare earth materials used in high-tech products like advanced batteries. China's policies are preventing the market from working on its own and go against agreed-upon rules. Manufacturing advanced batteries and hybrid cars in America is crucial for energy independence. The administration will bring this case against China to give American workers and businesses a fair shot in the global economy and ensure America builds and sells products worldwide.

The President has initiated a complete restructuring of the international trading system with a fair and reciprocal plan. For too long other countries have damaged our defense industrial base and threatened our national security. Take Europe, for example. The US runs a $230 billion trade deficit with them, especially in the auto industry. A Cadillac faces tariffs and VAT taxes that significantly increase its price in Germany, while a BMW coming to the US gets rebates, allowing it to be sold much cheaper. This disparity explains why Germany sells us eight times more cars than we sell them. To address this, we're going to identify how countries are unfairly exploiting us through tariffs and non-monetary barriers. Then we will determine reciprocal tariffs to counteract this unfairness, ensuring fair treatment for America. This isn't a political issue, it's an American issue. We want jobs, factories, and a strong defense industrial base here at home so we can be safe, secure, and prosperous.

Joe Biden has run up record trade deficits, costing the country jobs and wealth. To address this, I will pass the Trump Reciprocal Trade Act, which will impose the same tariffs on countries that impose tariffs on us. If they charge us, we charge them. This will either lead to them dropping their tariffs or paying us billions of dollars. It will benefit farmers, manufacturers, and the middle class, and reduce our dependence on China. This act will bring fairness and reciprocity to our trade relationships and put American workers on a level playing field. No more being disrespected on trade. The Trump Reciprocal Trade Act is the solution.

I made a commitment to the American people to do a better job rooting out wasteful spending in Washington. We don't need to wait for Congress to take action. Cutting waste and making government more efficient is something leaders in both parties have worked on. We haven't seen as much action out of Congress as we'd like, and that's why we launched our own initiative.

Joe Biden has run up record trade deficits, costing the country jobs and trillions of dollars. To address this, I will pass the Trump Reciprocal Trade Act, which imposes the same tariffs on countries that impose tariffs on us. They can either eliminate their tariffs or pay us billions of dollars. This will benefit farmers, manufacturers, and the middle class, and reduce our dependence on China. We have been disrespected on trade for too long, but that ends now with the Trump Reciprocal Trade Act.

Every federal department and agency is directed to tackle the cost of living crisis that has significantly impacted Americans. Thank you.

I am announcing a new initiative for emergency price relief for all Americans. On day one, I will sign an executive order to eliminate burdensome regulations that increase the cost of goods. My administration has already seen the most significant regulatory reductions in history, contributing to our strong economy. Additionally, I will create a cabinet position dedicated to reducing the cost of living. We need to streamline regulations, as many are excessive and unnecessary. All agencies will be evaluated daily on their efforts to lower household costs. This will be the most aggressive regulatory reduction ever, aiming to save the typical household $7,000.

The speaker describes a past auto deal with Japan as a failure in negotiation. Despite holding all the cards, the U.S. was "duped" because they were afraid to take a tough stand. The speaker believes that removing Japanese cars for a short time would have secured a better deal. When asked if the U.S. government should take a firmer stand with foreign countries, the speaker asserts that the U.S. would be better off and more respected, particularly by Japan. The speaker claims Japan currently has no respect for the U.S. because of the U.S.'s handling of trade deficits. The speaker believes a tougher stance would ultimately gain more friends and respect for the country.

Joe Biden has run up record trade deficits, costing the country jobs and wealth. To address this, I will pass the Trump Reciprocal Trade Act, which will impose the same tariffs on countries that impose tariffs on American goods. If they don't drop the tariffs, we'll make money. Other countries will have two choices: eliminate tariffs on us or pay us billions of dollars. This will benefit farmers, manufacturers, and the middle class, and reduce our dependence on China. We have been disrespected on trade for too long, but with this act, that will change. The Trump Reciprocal Trade Act.

Today, I implemented strong steel and aluminum tariffs. This fulfills a campaign promise, protects our national security and American workers, boosts American manufacturing, and generates revenue to lower your taxes.

We also recognize potential challenges in the relationship with The United States, and we are ready for that. When targeted, unfairly or arbitrarily, the European Union will respond firmly. This weekend, we witnessed how steep tariffs were imposed on Canada and Mexico. Those tariffs raise business costs. They harm workers and consumers. They create unnecessary economic disruption and drive inflation. We do not see much good coming out of this. At the same time, the European Union remains also steadfast in its multilateral commitments, be it from our development aid to our climate targets.

The speaker states that countries represented by the European Union will be told "that game is up." If they "get cute," they won't be able to sell cars into the United States anymore. The speaker claims that European unions and other countries gave drug companies a price, expecting America to pay the difference to cover a shortfall. The speaker says "that's what we did, but we're not doing it anymore."

The speaker describes a past auto deal with Japan as a failure in negotiation. Despite holding all the cards, the U.S. was "duped" and the deal was not good. The speaker believes the U.S. is afraid to take a tough stand, even when it's a "no brainer." The speaker asserts that a firmer stance with foreign countries would be better for the U.S., leading to greater respect. Regarding Japan, the speaker claims they currently have no respect for the U.S. because of the U.S.'s handling of trade relations. The speaker states that Japan makes hundreds of billions of dollars while the U.S. loses money in deficits. The speaker concludes that the U.S. should take a much tougher stand, even if it means making enemies.

This is declared as a declaration of economic independence and liberation day. Foreign leaders have stolen jobs, ransacked factories, and torn apart the American dream for over 50 years, but this will end now by putting America First. An executive order will institute reciprocal tariffs on countries worldwide to supercharge the domestic industrial base, pry open foreign markets, and break down foreign trade barriers. More domestic production will mean stronger competition and lower prices. From this day on, America will produce the cars, ships, airplanes, minerals, and medicines it needs. The future will be built with American hands and heart, ushering in a golden age.

President Reagan announces that Prime Minister Nakasone will visit the White House next week to discuss relations with Japan, including recent trade disagreements. He explains that he recently imposed new tariffs on certain Japanese products in response to Japan’s failure to enforce the trade agreement on semiconductors. He emphasizes that while tariffs are reluctantly used and can hurt American workers and consumers in the long run, the Japanese semiconductors represented a special case due to unfair trade practices violating the agreement. He states the goal is to lift these trade restrictions as evidence permits and to cooperate on trade problems, underscoring a commitment to free trade as a commitment to fair trade. Reagan notes that he conveyed a similar free-trade message to Canada and observes a growing global realization that prosperity requires rejecting protectionist legislation and promoting fair and free competition. He cites historical reasons for this stance, referencing the Great Depression and the Smoot-Hawley Tariff Act, which many analysts argue deepened the Depression and impeded recovery. He explains that tariffs can initially seem patriotic by protecting domestic products and jobs, but typically lead to temporary gains followed by retaliation, further trade wars, higher tariffs, reduced competition, and ultimately job losses as markets shrink and industries fail. He asserts that some Congress members, seeking short-term political advantage, threaten the prosperity of America by supporting protectionist measures, despite more than 5,000,000 American jobs tied to foreign exports and additional millions tied to imports. He emphasizes that he has supported actions against unfair practices in specific cases like Japanese semiconductors, while maintaining a long-term commitment to free trade and economic growth. With the Venice Economic Summit upcoming, Reagan stresses the importance of not restricting the president’s options in trade dealings with foreign governments. He warns that certain congressional efforts would amount to protectionism and promises to keep the public informed, noting that America’s jobs and growth are at stake and may require public help to stop the dangerous legislation. He closes by thanking listeners and offering a blessing.

America protects and defends countries like South Korea, Japan, Canada, and all of Europe. In exchange, South Korea steals the automobile and electronics industries, Japan closes its market to American cars, Canada runs up a massive trade deficit, and Europe has a $300 billion trade deficit with the United States. America is getting ripped off by every other country in the world, resulting in the deindustrialization of the heartland, destruction of the American dream, and the eradication of the industrial and manufacturing base needed for national security. This has to stop, especially with $36 trillion in debt.

Speaker says there are a bunch of countries to fix, naming Switzerland, Brazil, and India. They state these countries "need to really react correctly to America, open their markets, stop taking actions that harm America." The speaker implies these issues put the nations at odds with the United States, saying, "And that's why we're off sides with them." The core point is urging these countries to adjust trade policies to align with U.S. interests and curb actions perceived as harmful, otherwise relations are strained. This framing suggests a strategic priority on market access and protective measures, with the speaker treating these countries as key examples among several that require corrective responses.