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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.

Donald Trump states he would make allies pay their fair share, focusing on economic issues. He claims the U.S. is losing $200 billion and accuses Japan of dumping products into U.S. markets while making it nearly impossible for Americans to sell there. He says Japan is "beating the hell out of this country" economically, while expressing respect for the Japanese people. Trump also questions why Kuwait isn't paying the U.S. a percentage of their oil profits, given the U.S. enables their oil sales. When asked about running for president, Trump says he probably wouldn't because he enjoys his current work and it pays better, but he wouldn't rule it out if the country's situation worsened.

Poorer countries are justified in seeking access to wealthier markets. Wealthier markets allowing imports like tea and flowers from small African countries is not a major economic challenge. Advanced economies like the U.S. should insist on reciprocity from nations like China, which are no longer solely poor countries. This includes ensuring access to Chinese markets, stopping intellectual property theft, and preventing the hacking of U.S. servers.

The speaker claims that some advocate for unfettered free trade, arguing against tariffs and for allowing corporations the freedom to displace American workers. According to the speaker, the idea is that wealth and good-paying jobs will be created in America even as plants shut down and move to China where workers are paid significantly less. The speaker asserts that finding products made in America is already difficult. Senator McCain is identified as a leading advocate of unfettered free trade and that this is part of a right-wing ideology.

People want me to run for president in New Hampshire because they see what's happening in this country. Japan, Saudi Arabia, and Kuwait are taking advantage of the United States. Japan doesn't pay for defense, costing us billions. Our so-called allies are not treating us fairly. I have respect for the Japanese, but losing billions to them is a shame. I believe this country can be better. Cutting farm aid, help for the homeless, and welfare is not the solution. We need to take actions that will bring in big dollars for this country. I don't plan to run for president, but there are ways to fix things.

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.

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.

Tariffs on foreign imports may first appear patriotic—protecting American products and jobs—and sometimes they work for a short time. But what eventually occurs is that first homegrown industries start relying on government protection in the form of high tariffs. They stop competing and stop making the innovative management and technological changes they need to succeed in world markets. And while all this is going on, something even worse occurs. High tariffs inevitably lead to retaliation by foreign countries and the triggering of fierce trade wars. The result is more and more tariffs, higher and higher trade barriers, and less and less competition. So soon, because of the prices made artificially high by tariffs that subsidize inefficiency and poor management, people stop buying. Then the worst happens. Markets shrink and collapse, businesses and industries shut down, and millions of people lose their jobs. The memory of all this occurring back in the thirties made me determined when I came to Washington to spare the American people the protectionist legislation that destroys prosperity. Now it hasn't always been easy. There are those in the Congress, just as there were back in the thirties, who want to go for the quick political advantage, who risk America's prosperity for the sake of a short term appeal to some special interest group, who forget that more than 5,000,000 American jobs are directly tied to the foreign export business and additional millions are tied to imports.

It is legitimate for poorer countries to seek access to wealthier markets. Wealthier markets allowing access to poorer countries is not the biggest economic challenge. It is proper for advanced economies like the U.S. to insist on reciprocity from nations like China, who are no longer solely poor countries. The U.S. should ensure China provides access to its markets and stops taking intellectual property and hacking U.S. servers.

I think the market sell off this week is driven by globalists. They see how rich our country is going to be, and they don't like it. The market is big, and they've been ripping off this country for years, but everyone's going to do great. We can't let this continue to happen to America, or we're not going to have a country any longer. Thank you.

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.

I have also ordered The United States trade representative to accelerate the ongoing cases of common market restrictions of canned fruit and Japanese prohibitions on imports of our leather and leather footwear. But I believe more must be done. I am therefore today announcing that I have instructed Ambassador Yeiter to maintain a constant watch and to take action in those instances of unfair trade that will disadvantage American businesses and workers.

It's harder now than in Eisenhower's time. Back then, nobody complained because the country was different.

President Trump mentioned expanding the U.S. footprint, and it started when Trudeau said that evening out the trade relationship would mean Canada would cease to exist as a country. The President responded that if Canada can't exist without cheating in trade, then it should become a state. Canada is our friend and partner, but for decades, the U.S. allowed uneven trade imbalances. During the Cold War, we wanted countries to be strong economically, even if they were cheating. But these are rich, developed economies now. Whatever they charge us, we should charge them. If they don't allow American companies to operate, we shouldn't allow their companies here. American banks can't even operate in Canada. There has to be reciprocity and fairness. The days where countries take advantage of us have to end because it's not good for the global order and creates friction. This is the case with Canada and other allies.

Speaker 2 questions why the United States federal government is allowing foreign corporations to own American utility companies. Speaker 1 responds that they like seeing a free flow of capital among allies and friends. Speaker 2 argues that the discussion resembles arguments about the benefits of globalization made for 30 years, which they say prioritize elite economists, out-of-touch politicians, and big corporations. They contend that upstate New Yorkers should not be forced to pay money to utility companies each month with that money shipped overseas to foreign corporations. Speaker 2 describes seniors on fixed incomes who are cutting medicine in half due to the utility costs. They also cite public school teachers who take second jobs because of the NYSEG bill, and a union woman whose husband, after retiring, must get another job to pay the NYSEG bill rather than spending time with his grandchildren. Speaker 2 states that the money paid each month goes to a corporate boardroom in Spain and asks whether Speaker 2 will look into the issue and use authority to get foreign corporations to stop owning American utility companies. Speaker 2’s question receives the response: “I will look into that issue.” Speaker 0 adds that foreign countries are being allowed to buy American utility companies, including Spain, Canada, and the UK. Speaker 0 says this is happening across multiple states: Connecticut, Maine, Arizona, Minnesota, Illinois, Rhode Island, and Vermont, calling it widespread.

I think the market sell off this week is driven by globalists. They see how rich our country is going to be and they don't like it. It's a big market out there, but they've been ripping off this country for years. Everyone's gonna do great, but we can't let this continue to happen to America. Otherwise, we're not gonna have a country any longer.

American patients were subsidizing socialist healthcare systems in the European Union. The European Union is nastier than China, but they will come down a lot. The U.S. has all the cards because the EU treated the U.S. unfairly. The EU sells the U.S. 13 million cars, but the U.S. sells them none. The EU sells the U.S. their agricultural products, but they don't take U.S. products. Because of this unfairness, the EU will have to pay more for healthcare, and the U.S. will have to pay less.

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.

Speaker 0 states: "Can't charge a dollar. I would've used 1p, but we don't make the pennies anymore. We save money. Can't charge $1 to any country under IEPA. Not $1, I assume, to protect other countries." They assert this must have been done "to protect those other countries. Certainly not The United States Of America," which they say "they should be interested in protecting." They then claim: "That's what they're supposed to be protecting. But I am allowed to cut off any and all trade or business with that same country. In other words, I can destroy the trade." They further assert: "I can destroy the country. I'm even allowed to impose a foreign country destroying embargo. I can embargo. I can do anything I want, but I can't charge $1. Because that's not what it says, and that's not the way it even reads." The speaker emphasizes a broader power: "I can do anything I want to do to them, but I can't charge any money. So I'm allowed to destroy the country, but I can't charge them a little fee. I could give them a little $2.02 cent fee, but I cannot charge under any circumstances. I cannot charge them anything."

Doing business this way is very difficult, and I can tell you who to thank. Thank you, I've said it many times. To the American... Except when there are disagreements, let's litigate those disagreements rather than fighting it out in the American media when you're wrong. We know that you're wrong. But you see I...

Of course big business and Wall Street hate Trump's tariffs; they've been decimating American manufacturing for decades. These tariffs are helping to reverse that trend. We've seen companies like Milwaukee Tool, which sounds American but is owned by the Chinese Communist Party, compete against American companies. That's why we need tariffs to protect companies that actually want to manufacture in the United States. Don't believe the lies you read; polls show Americans overwhelmingly support tariffs.

The speaker claims that some advocate for unfettered free trade, arguing America shouldn't worry about domestic manufacturing or tariffs. This policy would allow corporations to freely fire American workers earning $15-$25/hour with benefits, move production to China where workers earn twenty to thirty cents an hour, and then import the products back into the U.S. The speaker asserts it's difficult to find products made in America due to this philosophy. Senator McCain is identified as a leading, honest advocate for this unfettered free trade ideology, which the speaker connects to a broader right-wing belief that corporations moving production to China ultimately benefits America.

It is legitimate for poorer countries to seek access to wealthier markets. Wealthier markets allowing access to tea and flowers from a small African country is not their biggest economic challenge. It is also proper for advanced economies like the United States to insist on reciprocity from nations like China, which are no longer solely poor countries. The U.S. should ensure China provides access to its markets and stops taking intellectual property and hacking U.S. servers.

The speaker claims that foreign countries intend to sell cars into the United States and destroy the auto industries in Michigan, South Carolina, North Carolina, and Georgia. The speaker states this will not happen because they will impose a 100% tariff on every car coming across the Mexican border. The speaker says the only way to eliminate the tariff is to build a plant in the United States operated by American citizens. The speaker specifies they want plants built in the United States, not just across the border.

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.