00:00:00
groups like this get together quite
00:00:01
frequently before announcements like
00:00:04
Liberation day today and we talk through
00:00:07
what the president's decision is um
00:00:10
what's the purpose of that decision and
00:00:12
how it's going to be implemented and
00:00:13
then we strategize on how to communicate
00:00:15
it to the American people um that
00:00:18
communication usually goes through the
00:00:19
media they pick and choose the facts
00:00:21
they want to focus on and the narratives
00:00:23
they want to drive and so we thought we
00:00:26
do it a little bit differently this time
00:00:28
take out the media and show the American
00:00:30
people what the conversations like that
00:00:32
we normally have um get into the details
00:00:35
the thinking and the purpose of this and
00:00:38
how it's in through the short-term and
00:00:39
long term is going to AFF affect the
00:00:41
American people Stephen you've been with
00:00:44
the president for a long time um you
00:00:46
were a part of the first Administration
00:00:48
and some of the battles um economically
00:00:51
taxes um that had historic impacts on
00:00:55
improving the
00:00:57
economy today's a big day
00:01:00
can you talk about the president's
00:01:02
historical view on global trade and the
00:01:06
tool of tariffs or the use of tariffs
00:01:09
that he envisions not just through
00:01:12
Liberation day today but how he's used
00:01:15
it over the years yes well the
00:01:19
announcement today is the most
00:01:21
significant action on global trade
00:01:24
policy that has taken place in our
00:01:27
lifetimes it's not even a close call uh
00:01:29
Ian this is this is probably the biggest
00:01:31
event that's happened on global trade uh
00:01:34
since um the very ill- fated decision uh
00:01:38
this that we are now reversing of
00:01:41
knocking down all of America's trade uh
00:01:45
tariffs and revenue policies that led to
00:01:47
the offshoring and Outsourcing of alare
00:01:49
Industry so this is the great reversal
00:01:50
of that great betrayal is how I look at
00:01:52
it so in the 20th century successive
00:01:56
American Presidents knocked down all of
00:01:59
the policy that we had to protect
00:02:00
American industry and they did insane
00:02:02
things like letting China into the World
00:02:04
Trade Organization as an example and we
00:02:07
washed all of our factories go overseas
00:02:09
this is the complete reversal of that
00:02:12
this is the great onshoring the great
00:02:14
reshoring of American jobs and wealth so
00:02:17
if you look at America today we're
00:02:18
totally dependent on foreign countries
00:02:21
for the supplies that make this country
00:02:23
run for all of the essential Goods
00:02:26
materials manufactured products that
00:02:28
make it possible for us to to live our
00:02:29
lives our our cars our
00:02:33
Electronics all the materials that go
00:02:35
into our homes our buildings our our
00:02:38
medical supplies our our entire Supply
00:02:41
chains are completely embedded in
00:02:43
foreign countries so if there's a
00:02:45
National Emergency of any kind and a and
00:02:48
a country shuts off an import or a
00:02:51
foreign power embargos a seaan we are
00:02:54
then left defenseless helpless because
00:02:56
of the decisions that prior leaders made
00:02:59
that we that President Trump is now
00:03:01
reversing to let all of these industries
00:03:03
leave our country and so what he's doing
00:03:05
today is for the first time ever he's
00:03:09
saying that if you have stolen our jobs
00:03:11
and therefore threatens our national
00:03:13
security we will apply a reciprocal
00:03:14
tariff based on the degree of your
00:03:17
misconduct so for countries like China
00:03:20
for example they will see a very high
00:03:22
tariff rate because they've engaged in
00:03:23
the most egregious conduct that threaten
00:03:25
is our national security uh for
00:03:27
countries that have severe but not as
00:03:30
severe misconduct uh they'll see a a
00:03:33
moderate but not as high tariff rate the
00:03:36
effect though of those global tariffs
00:03:39
will be that companies will have to move
00:03:41
their production back into the United
00:03:43
States so factories will leave whether
00:03:45
it be Mexico or Canada or Vietnam or
00:03:48
Cambodia or China or the European Union
00:03:51
they will come back to the United States
00:03:52
to produce their products to make their
00:03:55
goods and in so doing yes it will create
00:03:58
jobs yes it will inrease revenues but
00:04:00
most importantly it will restore our
00:04:03
national security so that we will not be
00:04:04
dependent on anyone else to survive and
00:04:07
thrive as a nation that's the
00:04:08
significance we're talking about today
00:04:10
the most important economic event of our
00:04:12
lifetimes and Stephen he didn't just
00:04:14
wake up this morning and say I want to
00:04:16
implement tariffs you talk about the
00:04:18
National Security crisis but this is
00:04:20
something the president has thought
00:04:21
about discussed contemplated for years
00:04:25
decades yes his his entire professional
00:04:27
life if you go back to interviews with
00:04:29
with President Trump u in the
00:04:32
1970s um he's been speaking passionately
00:04:34
about this issue and he warned for
00:04:36
example in the 1980s about all of our
00:04:40
critical Industries moving to at that
00:04:41
time Japan and he warned for years as
00:04:44
well about the loss of our automotive
00:04:46
industry which is an essential element
00:04:47
for National Security those Supply
00:04:48
chains are essential for our ability to
00:04:51
protect and defend our country but to
00:04:53
make Automobiles and he's been focused
00:04:55
on this issue for decades he took out an
00:04:58
entire uh onepage ad in the New York
00:05:00
Times in the 80s talking about the
00:05:03
threat of Japanese mercantilism and all
00:05:05
the unfair Trade Practices they had that
00:05:06
were killing our manufacturing so so
00:05:08
Jameson the devil's in the details as
00:05:10
they say what are the details of this
00:05:12
plan sure well Ste Stephen just
00:05:14
highlighted some of these first of all
00:05:16
we're doing a reciprocal tariff right
00:05:18
this is a golden rule for the Golden Age
00:05:21
we treat them how they treat us as
00:05:23
Stephen mentioned we expect that those
00:05:24
countries that treat us very poorly
00:05:26
where they have documented Behavior over
00:05:28
many years of whether it's High tariff
00:05:30
levels or extreme trade barriers or
00:05:33
taxes or other kind of charges that
00:05:34
discriminate against our companies or or
00:05:36
burden our companies they are naturally
00:05:39
going to have higher rates because to
00:05:40
achieve the kind of reciprocity we need
00:05:42
you have to have a higher rate and then
00:05:43
there are going to be other countries
00:05:45
that have a lower rate because maybe
00:05:46
they have a different level of
00:05:47
unfairness or non-reciprocity and we
00:05:50
expect there will be a global minimum on
00:05:52
all countries because we we have to deal
00:05:53
with this deficit we also want to make
00:05:55
sure that there's no cheating that we
00:05:56
don't have people going from one
00:05:58
jurisdiction to another to try to to get
00:05:59
around the Tariff we need to make sure
00:06:01
that we have no loopholes in this policy
00:06:03
because as Steven points out it's an
00:06:05
emergency the urgency of what's
00:06:07
happening right now cannot be overstated
00:06:09
that's why the president on day one
00:06:11
announced he wanted us to look into us
00:06:13
into it we looked into it over the past
00:06:15
couple of months and we're taking action
00:06:17
the day after we've reported back to him
00:06:19
I have I have right here a book full of
00:06:21
all of the unfair Trade Practices by our
00:06:23
top 100 Partners we published it just a
00:06:25
couple days ago and you said something
00:06:26
interesting they some countries will try
00:06:28
to get around the s by shipping their
00:06:31
product through another country they
00:06:32
store it there for a couple months and
00:06:34
then it all becomes a the sale of
00:06:36
another country can you talk through how
00:06:37
that works sure well well we we're
00:06:39
stopping that uh we don't want a
00:06:41
situation where uh China for example
00:06:43
might just send a bunch of parts down to
00:06:44
Vietnam Vietnam you know puts them
00:06:47
together in a light assembly and sends
00:06:48
it over and says this is a product of
00:06:49
Vietnam at at this point you know we
00:06:52
will have the kinds of tariffs we need
00:06:53
and a broad-based tariff to stop that
00:06:55
kind of behavior and of course we're
00:06:57
going to be very very focused on
00:06:58
enforcement to make sure no does that
00:07:00
kind of thing and we use and the media
00:07:02
uses the word tariff very broadly what
00:07:05
kind of tariffs are there and how do
00:07:07
they work oh certainly I I mean we have
00:07:10
for example rice Japan in some instances
00:07:14
will put a 700% tariff on Rice so if the
00:07:17
United States wants to export rice to
00:07:18
Japan where they eat a lot of rice Japan
00:07:22
will charge a 700% rate on that Rice
00:07:24
that's incredible right ours is much
00:07:26
lower apples in the United States if you
00:07:28
want to import if you want to import
00:07:30
apples into the United States it's
00:07:32
duty-free it's a 0% tariff but if we're
00:07:34
going to go to you know India it's it's
00:07:36
about 50% if you want to go to Turkey
00:07:37
instead American apples to Turkey it's a
00:07:39
60% tariff and so it it prevents it but
00:07:42
that's not even the worst part the worst
00:07:43
part are the non-tariff barriers where
00:07:45
they use fake science or fake standards
00:07:47
or other barriers to keep out our things
00:07:50
and Caroline obviously Jamon thinks a
00:07:52
lot about this um it's why he's the
00:07:55
USR how should the normal American
00:07:58
person the consumer think about tariffs
00:08:02
well first of all to the average
00:08:03
American who's watching at home and un
00:08:05
trying to understand what this means for
00:08:07
them don't buy into the media's lies uh
00:08:10
in the fear that they're going to try to
00:08:12
instill in you uh after this
00:08:14
announcement because we know that's
00:08:16
exactly what the media will try to do
00:08:18
the president is looking out for the
00:08:20
average American worker who has been
00:08:21
ripped off by the elite political class
00:08:24
for decades and so what does this tariff
00:08:26
policy look like as Jameson so brilliant
00:08:29
brilliantly said it's the golden rule
00:08:31
for the Golden Age of America we're
00:08:33
finally going to be treated the way
00:08:35
we're going to treat other countries the
00:08:36
way that we've been treated for too long
00:08:37
the president's going to put American
00:08:39
workers for first but what does it look
00:08:41
like think about your hometown where you
00:08:43
grew up in the Heartland in Middle
00:08:45
America factories that have been
00:08:47
abandoned workers who have been put out
00:08:49
of jobs drug addicted generations of of
00:08:52
children and of families because there
00:08:54
aren't good industry here at home there
00:08:56
is not good Industries here at home in
00:08:57
their hometowns the president wants to
00:08:59
to restore that prosperity and that
00:09:01
wealth more money in people's pockets
00:09:03
the media will also continue to talk a
00:09:05
lot about prices and what this will do
00:09:06
to prices and the American people need
00:09:08
to understand that the president will
00:09:11
effectively Implement these tar tariffs
00:09:14
while also having a whole of government
00:09:16
approach to bring down the cost of
00:09:18
living in this country there was an
00:09:19
inflation nightmare created by the
00:09:21
previous administration and while
00:09:23
simultaneously implementing these Fair
00:09:25
Trade Practices to put America First the
00:09:28
president is going is already ma
00:09:30
launching a massive deregulatory
00:09:31
campaign a massive energy boom where gas
00:09:35
prices are already coming down inflation
00:09:36
is Cooling and so it's an all hands
00:09:39
prices are coming down right you're
00:09:40
seeing it across the board now and and
00:09:43
it's important to understand and I think
00:09:44
Caroline you've talked about this a lot
00:09:47
this is Decades of failed political
00:09:50
leadership we're not going to get in get
00:09:52
get over it or change it without some
00:09:54
fundamental reform um it's Biden
00:09:57
Administration definitely accelerate
00:09:59
ated it but this was decades of economic
00:10:02
misstu of the economy and there's
00:10:04
nothing the media and the political
00:10:06
class hate more than change and this is
00:10:09
Monumental change the president is
00:10:11
focused on restructuring the global
00:10:13
economy on restructuring our domestic
00:10:15
economy as well and um the politicians
00:10:18
in this city have not seen a president
00:10:20
who is actually willing to take the
00:10:21
steps to implement such change really in
00:10:24
modern history um so believe in this
00:10:27
President he was elected for a reason
00:10:28
because he's looking out for the
00:10:30
American people across our country and
00:10:32
today is the first day of that in terms
00:10:34
of trade and tariff that's what we call
00:10:35
it Liberation day that's right St on
00:10:38
that can you talk what is the goal here
00:10:40
what should the American people look
00:10:42
forward to what is the hope and dream
00:10:44
that we're trying to pursue so if you
00:10:48
went to a store in America in say the
00:10:52
1950s and you looked at where the
00:10:54
products were made it would have said
00:10:55
made in the USA that would have been the
00:10:57
stamp you would have seen on everything
00:10:58
from the toys that your children buy to
00:11:00
the clothes that you wear uh to the cars
00:11:03
that you buy and everything in between
00:11:05
it you know if you grew up in the 1980s
00:11:07
you would have seen a lot of things
00:11:09
still St made in the USA but a lot less
00:11:12
uh by the time you get to the early
00:11:13
2000s after an NAFTA after China's
00:11:16
entering into the World Trade
00:11:17
Organization after other disastrous
00:11:19
trade deals it started to look more like
00:11:21
we see it now when you go to the store
00:11:23
and everything is stamped made in the
00:11:25
foreign country made in Romania made in
00:11:27
Thailand made in Cambodia made in
00:11:29
Malaysia made in China but not made in
00:11:32
the USA so that means those good
00:11:35
high-paying jobs that should be here in
00:11:36
America are not here in America at the
00:11:39
same time it also means that for a lot
00:11:41
of the more advanced manufacturing jobs
00:11:43
these are essential industries that
00:11:45
could be converted at a moment's notice
00:11:47
to core National Security needs and so
00:11:50
when you don't have those factories you
00:11:52
don't have the training and you don't
00:11:55
have the the workforce to be able to
00:11:58
meet our nation's needs and in a time of
00:11:59
an emergency so we are we are
00:12:01
Outsourcing to other countries the
00:12:03
things that we need to keep America safe
00:12:05
the end result of this is going to be
00:12:08
far more high-paying manufacturing jobs
00:12:10
these are jobs where you can support a
00:12:12
family you get a retirement plan you get
00:12:14
a pension you have good health care
00:12:16
you're paid well well above um what you
00:12:20
would consider to be uh the living wage
00:12:22
for these new Advanced manufacturing
00:12:25
jobs these are these are jobs you can
00:12:26
build a family and a community around at
00:12:29
the the same time is going to relieve
00:12:30
inflation because it's actually the most
00:12:33
cost effective to make things in the
00:12:34
United States of America people don't
00:12:35
think about this but all those products
00:12:37
you see on these stor shelves that are
00:12:39
shipped from thousands of miles away we
00:12:41
have to we're paying the cost of all
00:12:43
that shipping built into the price of
00:12:44
the good so it's actually more
00:12:46
economically efficient particularly with
00:12:47
Advanced manufacturing techniques to
00:12:50
have these factories in the United
00:12:51
States near where you live putting
00:12:53
products on your store shelves not
00:12:55
having to ship things all over the globe
00:12:57
so you're actually going to see prices
00:12:58
go down because our our products are
00:13:00
being built and manufactured here in the
00:13:02
United States the most important point
00:13:03
to understand is that tariffs do not
00:13:06
apply to any product that is made in the
00:13:09
United States so the the original sin of
00:13:12
how the modern economy in America is
00:13:14
structured the president talks about
00:13:15
more than anything else and I guesss to
00:13:17
Caroline's point about um the overall
00:13:20
economic Vision the original sin was
00:13:22
that we created a tax system that
00:13:24
punished you for making something in
00:13:26
America and rewarded you for making
00:13:28
something in China or or a foreign
00:13:29
country so words if you had your factory
00:13:31
in America you paid a Skyhigh corporate
00:13:33
tax rate you were beaten to death with
00:13:35
regulation you had radically
00:13:36
unaffordable Energy prices and
00:13:38
Washington just in every way made your
00:13:40
life miserable and the political class
00:13:42
didn't do anything about it they allowed
00:13:43
it to happen well they sat by and
00:13:45
watched it happen for decades they
00:13:47
actually wanted the opposite to happen
00:13:49
especially if you look at at the 90s
00:13:50
when we had NAFTA we had the WTO we had
00:13:53
the entry of China into the WTO the goal
00:13:56
the goal very clearly was to remove us
00:13:59
tariff and trade barriers to make it
00:14:01
easier for people to Outsource to China
00:14:03
because once we gave China what we call
00:14:05
permanent normal trade relations all of
00:14:07
your manufacturers in the United States
00:14:09
who are thinking in you know short terms
00:14:11
in terms of quarterly earnings and that
00:14:12
kind of thing they said listen now I can
00:14:14
go move my Factory from Indiana or
00:14:16
wherever I can put it in China I can put
00:14:18
it in Mexico and I know I will have sure
00:14:20
access to the US market today president
00:14:23
Trump is saying the best place to make
00:14:25
American products and sell American
00:14:26
Products is here in America if you make
00:14:28
it America you're not going to have
00:14:29
think about how pricious that deal is
00:14:32
that he's describing that was made this
00:14:34
was done by the bushes this was done by
00:14:37
the clintons this was done by many
00:14:39
American administrations Republicans and
00:14:41
Democrats Republicans and Democrats was
00:14:44
they said to the factory owner if you
00:14:46
really want to be competitive you need
00:14:48
to move your factory to China that's the
00:14:50
best way to sell into America and so all
00:14:52
of a sudden you're living in a community
00:14:54
uh where one day there's these thriving
00:14:55
Factory towns and the next day all the
00:14:57
factories are in Shanghai and so point
00:14:59
about the original sin it was the sin of
00:15:01
saying that we were going to give the
00:15:02
most favorable treatment to foreign
00:15:03
production the least favorable treatment
00:15:05
to American production it's completely
00:15:06
inverted right so the president is
00:15:08
saying today is the opposite of that if
00:15:11
you have your factory in America you pay
00:15:12
no tariff you're going to reduce your
00:15:14
taxes and we're going to reduce your
00:15:16
regulations and reduce your energy cost
00:15:17
so you're going to get the best possible
00:15:19
deal but you have to do it here and to
00:15:21
anyone questioning the effectiveness of
00:15:23
the president's trade and tariff agenda
00:15:25
look at what has happened before
00:15:27
Liberation day we have had billions and
00:15:29
billions of dollars wor 2.7 now great
00:15:32
Investments yes into our country you
00:15:35
have some of the biggest companies in
00:15:37
the world like apple and Hyundai
00:15:39
announcing investments in American
00:15:41
communities that are jobs in these
00:15:43
communities that's Manufacturing in
00:15:44
these communities those are American
00:15:46
families who are going to now be able to
00:15:48
live the American dream because of these
00:15:50
Investments and the tariffs haven't even
00:15:51
been implemented so president Trump is
00:15:53
serving as America's businessman and
00:15:55
chief America's negotiator and chief by
00:15:58
encouraging an in Iving for once finally
00:16:01
for these companies to do business here
00:16:02
we have the labor we have the resources
00:16:04
we have the best Market in the world
00:16:06
there's no reason we shouldn't have a
00:16:07
president who's trying to Champion
00:16:09
America in America First policies in
00:16:11
Caroline or he he identified the problem
00:16:15
and he's got a solution but you spoke to
00:16:16
this before tariffs are a big part of
00:16:19
the solution here but it's not the only
00:16:21
part right companies coming in he's
00:16:23
we've we've all been sitting in meetings
00:16:25
with him where he says what is your
00:16:27
problem for coming back what's getting
00:16:29
in your way is it regulations let's
00:16:31
solve that problem the president just
00:16:32
had he talked about it in a press
00:16:33
conference this week he had stantis big
00:16:35
car manufacturer some of the best brands
00:16:37
that there is and he says what is your
00:16:39
problem he says all the regulations you
00:16:41
have California that's just crippling
00:16:43
car manufacturing with their erroneous
00:16:45
green green new scam uh regulations we
00:16:48
need to pull them back the president
00:16:49
gets on the phone he wants to bring
00:16:51
companies back he wants to bring jobs
00:16:53
back he wants to bring wealth back he
00:16:55
wants to make things more affordable
00:16:57
Jameson how is he doing
00:16:59
well well well let's remember that he
00:17:01
has a great track record if you look at
00:17:03
the first term the president used
00:17:04
tariffs to great effect and he and he
00:17:07
coupled it with great tax bill great
00:17:09
energy policy all things we're talking
00:17:10
about now and what happened in the first
00:17:12
term inflation went down unemployment
00:17:14
down went down real median household
00:17:16
income went up for every demographic I
00:17:19
mean this is incredible we had
00:17:20
manufacturing jobs went up so we know it
00:17:22
can be done he's already he's already
00:17:24
done it before we're a couple months in
00:17:26
we're already doing it now he knows
00:17:27
exactly how to use the tools the economy
00:17:29
whether they're trade tools and tariffs
00:17:31
or other tools to really make sure that
00:17:33
America can be competitive that American
00:17:34
workers can have good jobs and American
00:17:36
families can have prosperity in their
00:17:37
communities where they live and we want
00:17:38
to wrap this up so Stephen Caroline some
00:17:42
last messages what do you think the
00:17:43
biggest takeaway of today is and what
00:17:46
should the American public look forward
00:17:47
to I think at a at a fundamental
00:17:50
philosophical level when you talk about
00:17:52
America First it gets down to this who
00:17:55
should have Priority Access to the US
00:17:57
market should it be the Factory that's
00:17:59
located in Cleveland or should it be the
00:18:03
factory that's located in Beijing that's
00:18:05
the fundamental question the the radical
00:18:08
left corporate media the globalist
00:18:11
corporate media that is attempting to
00:18:13
criticize this plan take the view that
00:18:15
the best place to put your factory
00:18:17
should be in Beijing or Shanghai or
00:18:21
Bangkok or anywhere by the United States
00:18:23
of America the president's view is we
00:18:26
should do everything in our power to
00:18:28
make it so that the best place to put
00:18:29
your factory is in an American town so
00:18:32
we get all the benefit we get the
00:18:34
economic benefit we get the social
00:18:36
benefit we get the community benefit and
00:18:37
most importantly we get the national
00:18:38
security benefit of having our critical
00:18:41
IND Industries here in America and
00:18:43
that's why we're calling it Liberation
00:18:44
day because he is freeing us from a
00:18:47
global economic system that has made us
00:18:49
subservient to foreign Nations and
00:18:51
foreign powers and Stephen on that this
00:18:53
is means it's not a short-term solution
00:18:56
this is a philosophical belief
00:18:59
in a future for America and so for those
00:19:02
looking for predictability we hear that
00:19:04
word a lot you can predict this policy
00:19:07
will remain in effect correct the
00:19:09
predictability is the absolute
00:19:12
certainty that this program will remain
00:19:15
in effect that we will continue to have
00:19:18
policies and continue to have tariffs
00:19:21
that will ensure that we have the
00:19:23
National Security needs of our country
00:19:25
met and that means American industry
00:19:27
inside of the United States of America
00:19:29
is actually the most stable and
00:19:31
predictable policy because everyone in
00:19:33
the world knows if I want to sell to
00:19:35
America just move your factory to
00:19:37
America nothing is clear more stable
00:19:39
more predictable than that you want to
00:19:41
sell to Americans then get your company
00:19:43
get your business get your plant and
00:19:45
move it to America that is the most
00:19:47
predictable and on top of that we're
00:19:49
going to have regulatory certainty tax
00:19:51
certainty and energy certainty so this
00:19:53
is the definition of certainty
00:19:55
unpredictability and to your point it's
00:19:56
not a short-term fix it's the total
00:19:58
realign of the global trade system to
00:20:00
put America First Caroline what's our
00:20:02
closing message here closing message is
00:20:04
every taxpaying citizen in this country
00:20:07
should be incredibly excited about
00:20:09
Liberation day president Trump is
00:20:11
delivering on exactly what he said he
00:20:12
was going to do for you the golden a age
00:20:15
of America more jobs more wealth more
00:20:17
Prosperity more security right here at
00:20:19
home
