April 4, 2025 • 13 mins
-
Introduction of Reciprocal Tariffs:
- President Trump announced the imposition of reciprocal tariffs on various countries, emphasizing that these countries have been charging the U.S. unfairly for years.
- Specific examples include China (67% tariffs), the European Union (39%), Vietnam (90%), Taiwan (64%), Japan (46%), and India (52%).
-
Economic Independence:
- Trump described April 2, 2025, as a historic day for American economic independence, marking the rebirth of American industry and the reclamation of America's destiny.
- He criticized past administrations for allowing foreign countries to exploit American workers and industries.
-
Support from Various Groups:
- Several industry groups and associations expressed their support for Trump's trade policies, including the Coalition for a Prosperous America, the National Cattleman's Beef Association, the Steel Manufacturers Association, and the Alliance for American Manufacturing.
- These groups praised the tariffs for protecting American jobs, industries, and economic security.
-
Media Criticism:
- Trump anticipated negative reactions from the media, which he claimed would portray the tariffs as harmful to the economy and a potential cause of trade wars.
- He countered this by highlighting the support from American workers and industry leaders.
-
Future Plans:
- The President emphasized that the tariffs would help reduce taxes and pay down the national debt.
- He expressed optimism about America's economic future, stating that the country would become wealthier and more prosperous.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
Since nineteen ninety seven, Americans have been put out of
five million manufacturing jobs.
Speaker 2 (00:06):
I'd like to call the attention of our colleagues to
this chart on the status quo that the business community
is asking each and every one of you to endorse.
Speaker 3 (00:14):
Today to help the middle class who have been shouldering
the burden of falling real wages for about twenty five
years because of unfair and unjust trading practices. If you're
listening to the forty seven Morning Update with Ben Ferguson.
Speaker 4 (00:27):
Good Friday morning, Ben Ferguson with you, It's nice to
have you on the forty seven Morning Update. And here
are the big stories that we're going to cover. First up,
Democrats were four tariffs before they were against them, even
the biggest leaders in the Democratic Party, and we've got
the audio to prove it. Also, in a major move
not getting any coverage from the mainstream bias media, the
(00:51):
Senate GOP voted to advance the Trump tax cuts. This
is significant for your pocketbook. And finally, other countries are
in a panic right now and are running to meet
with Donald Trump in his administration. Yes, over the tariffs
that are clearly working. I'll give you the list and
what they're doing coming up in just a moment. But
(01:12):
first make sure, if you're new to the show, you
hit that subscribe or auto download button right now so
you never miss an episode of the forty seven Morning
Update that starts right now.
Speaker 3 (01:23):
Story number one.
Speaker 4 (01:24):
In big breaking News, Nancy Pelosi defends Donald Trump's trade policy.
The only problem is it's not in twenty twenty five,
but in nineteen ninety six. That's right, Democrats are in
favor of what Donald Trump did well, as long as
he wasn't the guy actually doing it. Twenty five years ago,
(01:45):
Nancy Pelosi warned in fact of American job losses because
of China's unfair trade practices. Then on tariffs, she said
that we must reciprocate. Now she's calling what Donald Trump
is doing reckless. And now it's important that the audio
I'm about to play of Nancy Pelosi is shared with
everyone you know, because they need to be called out
(02:06):
for their hypocrisy. Today. Take a listen to Nancy Pelosi
talking about reciprocal trade tariffs and how important it was
to protect America. This from nineteen ninety six on the
floor of the House.
Speaker 2 (02:19):
I'd like to call the attention of our colleagues to
this chart on the status quo that the business community
is asking each and every one of you to each
and every one of us to endorse. Today. Right now,
we have a thirty four billion dollar trade deficit with China.
The nineteen ninety ninety five figure, it will be over
forty billion dollars for nineteen ninety six. Since the Tenement
(02:42):
Square massacre, this figure has increased one thousand percent from
three and a half billion then to about thirty four
billion dollars now. In terms of tariffs, it's think it's
interesting to note that the average US MFN tariff on
Chinese goods coming into the United States is two percent,
as the average Chinese MFM tariff on US goods going
(03:04):
into China is thirty five percent. Is that reciprocal on exports?
China only allows certain industries into China of US industries
into China, and therefore only two percent of US exports
are allowed into China. On the other hand, the US
allows China to flood our markets with thirty a third
(03:24):
of their exports and that'll probably go over forty percent.
And it's limitless because we have not placed any restriction
in terms of jobs. This is the biggest and cruelest
hoax of all. Not only do we not have market access,
not only do they have prohibitive tariffs. Not only are
our exports not let in very specifically, but China benefits
(03:46):
with at least at least ten million jobs from US
China trade. The President, in his statement requesting this special
waiver said that it China trade supports one hundred and
seven seventy thousand jobs in the United States one hundred
and seventy thousand jobs, whereas our imports from China support
(04:07):
a ten million jobs at least. The fact is that
that US China trade is a job loser, and one
of the reasons that it is is because in order
well first, let me just make another point, and that
is that our colleagues on the other side of this
issue will say the trade with China, exports to China
have increased three times in the last ten years. They have,
(04:27):
but they failed to mention that exports imports from China
have increased eleven times, thereby leading to this huge trade deficit.
The other issue, in addition, if intellectual property is a
two billion dollar three billion dollar loss, technology transfer is
in the hundreds of billions of dollars. If you want
(04:48):
to sell to China your products into China, the Chinese
insists that you open a factory there. They take misappropriate
your technology, open factories of their own, and then say
to you, now we want to see your plan for export.
That's as simply as I can say it briefly. But
the fact is, this isn't about products made in America.
(05:09):
The Chinese want American products that are made in China.
And the most serious of these transfers of technology are
in the airline industry. We're Boeing tail sections. The tail
sections of the Boeing seven thirty sevens were mostly made
in Wichita, Kansas. Now they are made in shen Province,
where workers make fifty dollars a month, and they had
(05:30):
the transfer of the technology and the transfer of the
jobs has taken place. General Motors for they're all fighting
to get in to build factories there so they can
make parts there. They want MFN so they can get
those parts back into the United States. So we are
exporting not low tech jobs and textile jobs. We're exporting
our technology. Now, if you take a country the size
(05:52):
of China with the cheap the very cheap and in
some instances slave labor, the lack of market access, the
rip off of our intellectual property, the transfer of technology,
a country that is not willing to play by the
rules in any respect in this trade relationship. You have
a serious threat not only to our relationship, but to
(06:13):
the industrialized world. And if there's one message that I
want our colleagues to understand today and our constituents, is
that on this day your member of Congress could have
drawn the line to say to the President of the
United States, do something about this US China trade relationship.
That is a job loser for the United States. And
this brings us to the point that others have said, well,
(06:35):
we can't isolate China. Do you think for one minute
that with ten million jobs at least and thirty five
billion and be over forty billion dollars this year in
a trade surplus, all those billions of dollars in surplus,
that the Chinese are going to walk away? Where are
they going to take thirty five to forty percent of
their exports? Who's going to buy them? This is what
(06:58):
sustains the regime, the funding and the jobs. They can't
have those people out of work. They have to be
at worth exporting to the United States.
Speaker 4 (07:08):
So the question is where is that Nancy Pelosi? Now,
I actually like that Nancy Pelosi of nineteen ninety six.
And the other question you should be asking yourself is this.
If it was this bad in ninety six and nothing's
been done to stop this horrible trade agreement with China
(07:28):
and this deficit that we're running with China and currency
manipulation and stealing of trade secrets, the list goes on
and on, then why on earth would we not want
Donald Trump to step in and to stop this. The
American worker has been decimated. Nancy Pelosi said it in
(07:49):
ninety six, and the only reason why she's not saying
it now is because Donald Trump is president. By the way,
there's another Democrat who was also saying the same thing.
But it wasn't in ninety six. It was in two
thousand and eight, and his name was Bernie Sanders. And
what did Bernie Sanders want in two thousand and eight?
(08:11):
He wanted tariffs. How do we know it because this
is what he said on the floor of the Senate.
Speaker 1 (08:17):
Further, what they have said is that we need to
not worry about manufacturing in America because what we should
establish is a policy of unfitted free trade. We don't
need tariffs. What we need is to allow corporate America
the freedom, the freedom to throw American work is out
(08:39):
on the street. People are making fifteen twenty twenty five
bucks an hour, healthcare pensions. Throw them out on the
street because somehow mount of president, we are going to
create wealth in America and good paying jobs in America
as we shut down plans we moved to China. Corporations
there pay workers twenty thirty cents an hour, and we
bring the product back into this country.
Speaker 4 (09:01):
So Bernie Sanders said, not having tariffs in America means
all our manufacturing goes overseas. And it's the same thing
as giving corporations quote, the freedom to throw American workers
out on the street. The question you should be asking
yourself is what changed? Why is it? The Pelosi in
ninety six, Bernie Sanders in eight, and the list goes
(09:23):
on and on are saying no to Donald Trump correcting
this problem that they declared was massive then and has
only gotten bigger since then. And it's one reason because
they hate Donald Trump and they hate the people that
support him and they're willing to hurt American workers over everything.
Speaker 3 (09:39):
Else now story number two.
Speaker 4 (09:41):
It is a major victory and it's being overshadowed right now,
and it's one that you need to know about. The
Senate Republicans have voted to advance the sweeping Trump tax
cut plan. Senate Republicans took a procedural step forward on
President Donald Trump's tax cuts agenda on Thursday, overcoming concerns
among summer Republican lawmakers that the plan does not include
(10:02):
sufficient spending cuts. The Senate voted fifty two to forty
eight to move forward with a framework to address Trump's
proposals for tax cuts, border enforcement, and increased military spending.
Lawmakers now hope to pass the resolution after up to
fifty hours of floor debate. Then it will be sent
to the Republican controlled House of Representatives. Both chambers must
(10:25):
have proved the same budget resolution to unlock a key
parliamentary tool that would allow Republicans to circumvent Senate Democrats
and enact the Trump agenda later this year. This, by
the way, could take several months, and will continue to
watch all of it as it unfolds. But the good
news is this is a major victory for Donald Trump
(10:46):
and most importantly for American taxpayers.
Speaker 3 (10:49):
And here is story number three.
Speaker 4 (10:51):
If you watch the media today, they will tell you
that the tariffs are a disaster, that Donald Trump should
flinch and say sorry and immediately go back to the
old way of doing business. That is the story they
want you to believe. But the reality is the tariffs
are already working. One prime example is Vietnamese Deputy Prime Minister,
(11:12):
accompanied by a major entourage of Vietnamese business executives, announce
an emergency trip to Washington, D C. On Wednesday. Quietly,
that is the same day that Donald Trump revealed his
Liberation Day tariff schedule, which included a forty six percent
duty on imports from Vietnam. The Vietnamese delegation, we're now
(11:32):
being told, is scheduled to arrive on Sunday and remain
in Washington, D C. Until April fourteenth, when it will
pay an official visit to then Cuba. The Vietnamese Prime
Minister will be accompanied by executives from companies such as
Vietnam Airlines, JSC and Venta Capitol Group. The delegation hopes
to meet with Trump officials and beg basically for all
(11:55):
of these tariffs to be brought back down. They are
wanting to quote, make it deal. The business community in
Vietnam is panic, and they are panic that the government
is not doing enough too cool. The response from Donald
Trump the Prime Minister's visit, they claim, will pave the
way for real negotiations leading to a more balanced agreement
easing the burden on businesses amid the current tough business
(12:18):
landscape in Vietnam. That coming from The Saigon Times on Thursday,
they also reported that Vietnamese analysts and government officials expected
about a ten percent terre from Trump. The rate of
forty six percent that was revealed by Trump at the
White House is when the panic set in. Why Vietnam
is among the world's most trade dependent nations, with exports
(12:42):
equivalent to about ninety percent of economic output, and counts
the US as its most significant customer. Sales have served
since the trade war that broke out during Trump's first term,
when businesses sought to relocate away from China and Vietnam
became an alternative base for production aimed at American markets.
American customers buy about a third of what Vietnam exports
(13:05):
to the entire world, creating a massive trade surplus of
more than one hundred and twenty three billion dollars. This
appears to have factored into the tariff right reveal by
President Trump on Wednesday, and that is why Vietnam is
well freaking out and running to America. Tried to quote,
de escalate and come up with a fair deal for
(13:25):
both countries. Moral of the story is this, Vietnam would
have never called this emergency meeting if it wasn't for
Donald Trump and what he did the White House on
Liberation Day.
Speaker 3 (13:35):
Thank you for listening to the forty seven Morning Update
with Ben Ferguson. Please make sure you hit subscribe wherever
you're listening to this podcast right now and for more
in depth news, also subscribe to the Ben Ferguson podcast
and we will see you back here tomorrow
Since nineteen ninety seven, Americans have been put out of
five million manufacturing jobs.
Speaker 2 (00:06):
I'd like to call the attention of our colleagues to
this chart on the status quo that the business community
is asking each and every one of you to endorse.
Speaker 3 (00:14):
Today to help the middle class who have been shouldering
the burden of falling real wages for about twenty five
years because of unfair and unjust trading practices. If you're
listening to the forty seven Morning Update with Ben Ferguson.
Speaker 4 (00:27):
Good Friday morning, Ben Ferguson with you, It's nice to
have you on the forty seven Morning Update. And here
are the big stories that we're going to cover. First up,
Democrats were four tariffs before they were against them, even
the biggest leaders in the Democratic Party, and we've got
the audio to prove it. Also, in a major move
not getting any coverage from the mainstream bias media, the
(00:51):
Senate GOP voted to advance the Trump tax cuts. This
is significant for your pocketbook. And finally, other countries are
in a panic right now and are running to meet
with Donald Trump in his administration. Yes, over the tariffs
that are clearly working. I'll give you the list and
what they're doing coming up in just a moment. But
(01:12):
first make sure, if you're new to the show, you
hit that subscribe or auto download button right now so
you never miss an episode of the forty seven Morning
Update that starts right now.
Speaker 3 (01:23):
Story number one.
Speaker 4 (01:24):
In big breaking News, Nancy Pelosi defends Donald Trump's trade policy.
The only problem is it's not in twenty twenty five,
but in nineteen ninety six. That's right, Democrats are in
favor of what Donald Trump did well, as long as
he wasn't the guy actually doing it. Twenty five years ago,
(01:45):
Nancy Pelosi warned in fact of American job losses because
of China's unfair trade practices. Then on tariffs, she said
that we must reciprocate. Now she's calling what Donald Trump
is doing reckless. And now it's important that the audio
I'm about to play of Nancy Pelosi is shared with
everyone you know, because they need to be called out
(02:06):
for their hypocrisy. Today. Take a listen to Nancy Pelosi
talking about reciprocal trade tariffs and how important it was
to protect America. This from nineteen ninety six on the
floor of the House.
Speaker 2 (02:19):
I'd like to call the attention of our colleagues to
this chart on the status quo that the business community
is asking each and every one of you to each
and every one of us to endorse. Today. Right now,
we have a thirty four billion dollar trade deficit with China.
The nineteen ninety ninety five figure, it will be over
forty billion dollars for nineteen ninety six. Since the Tenement
(02:42):
Square massacre, this figure has increased one thousand percent from
three and a half billion then to about thirty four
billion dollars now. In terms of tariffs, it's think it's
interesting to note that the average US MFN tariff on
Chinese goods coming into the United States is two percent,
as the average Chinese MFM tariff on US goods going
(03:04):
into China is thirty five percent. Is that reciprocal on exports?
China only allows certain industries into China of US industries
into China, and therefore only two percent of US exports
are allowed into China. On the other hand, the US
allows China to flood our markets with thirty a third
(03:24):
of their exports and that'll probably go over forty percent.
And it's limitless because we have not placed any restriction
in terms of jobs. This is the biggest and cruelest
hoax of all. Not only do we not have market access,
not only do they have prohibitive tariffs. Not only are
our exports not let in very specifically, but China benefits
(03:46):
with at least at least ten million jobs from US
China trade. The President, in his statement requesting this special
waiver said that it China trade supports one hundred and
seven seventy thousand jobs in the United States one hundred
and seventy thousand jobs, whereas our imports from China support
(04:07):
a ten million jobs at least. The fact is that
that US China trade is a job loser, and one
of the reasons that it is is because in order
well first, let me just make another point, and that
is that our colleagues on the other side of this
issue will say the trade with China, exports to China
have increased three times in the last ten years. They have,
(04:27):
but they failed to mention that exports imports from China
have increased eleven times, thereby leading to this huge trade deficit.
The other issue, in addition, if intellectual property is a
two billion dollar three billion dollar loss, technology transfer is
in the hundreds of billions of dollars. If you want
(04:48):
to sell to China your products into China, the Chinese
insists that you open a factory there. They take misappropriate
your technology, open factories of their own, and then say
to you, now we want to see your plan for export.
That's as simply as I can say it briefly. But
the fact is, this isn't about products made in America.
(05:09):
The Chinese want American products that are made in China.
And the most serious of these transfers of technology are
in the airline industry. We're Boeing tail sections. The tail
sections of the Boeing seven thirty sevens were mostly made
in Wichita, Kansas. Now they are made in shen Province,
where workers make fifty dollars a month, and they had
(05:30):
the transfer of the technology and the transfer of the
jobs has taken place. General Motors for they're all fighting
to get in to build factories there so they can
make parts there. They want MFN so they can get
those parts back into the United States. So we are
exporting not low tech jobs and textile jobs. We're exporting
our technology. Now, if you take a country the size
(05:52):
of China with the cheap the very cheap and in
some instances slave labor, the lack of market access, the
rip off of our intellectual property, the transfer of technology,
a country that is not willing to play by the
rules in any respect in this trade relationship. You have
a serious threat not only to our relationship, but to
(06:13):
the industrialized world. And if there's one message that I
want our colleagues to understand today and our constituents, is
that on this day your member of Congress could have
drawn the line to say to the President of the
United States, do something about this US China trade relationship.
That is a job loser for the United States. And
this brings us to the point that others have said, well,
(06:35):
we can't isolate China. Do you think for one minute
that with ten million jobs at least and thirty five
billion and be over forty billion dollars this year in
a trade surplus, all those billions of dollars in surplus,
that the Chinese are going to walk away? Where are
they going to take thirty five to forty percent of
their exports? Who's going to buy them? This is what
(06:58):
sustains the regime, the funding and the jobs. They can't
have those people out of work. They have to be
at worth exporting to the United States.
Speaker 4 (07:08):
So the question is where is that Nancy Pelosi? Now,
I actually like that Nancy Pelosi of nineteen ninety six.
And the other question you should be asking yourself is this.
If it was this bad in ninety six and nothing's
been done to stop this horrible trade agreement with China
(07:28):
and this deficit that we're running with China and currency
manipulation and stealing of trade secrets, the list goes on
and on, then why on earth would we not want
Donald Trump to step in and to stop this. The
American worker has been decimated. Nancy Pelosi said it in
(07:49):
ninety six, and the only reason why she's not saying
it now is because Donald Trump is president. By the way,
there's another Democrat who was also saying the same thing.
But it wasn't in ninety six. It was in two
thousand and eight, and his name was Bernie Sanders. And
what did Bernie Sanders want in two thousand and eight?
(08:11):
He wanted tariffs. How do we know it because this
is what he said on the floor of the Senate.
Speaker 1 (08:17):
Further, what they have said is that we need to
not worry about manufacturing in America because what we should
establish is a policy of unfitted free trade. We don't
need tariffs. What we need is to allow corporate America
the freedom, the freedom to throw American work is out
(08:39):
on the street. People are making fifteen twenty twenty five
bucks an hour, healthcare pensions. Throw them out on the
street because somehow mount of president, we are going to
create wealth in America and good paying jobs in America
as we shut down plans we moved to China. Corporations
there pay workers twenty thirty cents an hour, and we
bring the product back into this country.
Speaker 4 (09:01):
So Bernie Sanders said, not having tariffs in America means
all our manufacturing goes overseas. And it's the same thing
as giving corporations quote, the freedom to throw American workers
out on the street. The question you should be asking
yourself is what changed? Why is it? The Pelosi in
ninety six, Bernie Sanders in eight, and the list goes
(09:23):
on and on are saying no to Donald Trump correcting
this problem that they declared was massive then and has
only gotten bigger since then. And it's one reason because
they hate Donald Trump and they hate the people that
support him and they're willing to hurt American workers over everything.
Speaker 3 (09:39):
Else now story number two.
Speaker 4 (09:41):
It is a major victory and it's being overshadowed right now,
and it's one that you need to know about. The
Senate Republicans have voted to advance the sweeping Trump tax
cut plan. Senate Republicans took a procedural step forward on
President Donald Trump's tax cuts agenda on Thursday, overcoming concerns
among summer Republican lawmakers that the plan does not include
(10:02):
sufficient spending cuts. The Senate voted fifty two to forty
eight to move forward with a framework to address Trump's
proposals for tax cuts, border enforcement, and increased military spending.
Lawmakers now hope to pass the resolution after up to
fifty hours of floor debate. Then it will be sent
to the Republican controlled House of Representatives. Both chambers must
(10:25):
have proved the same budget resolution to unlock a key
parliamentary tool that would allow Republicans to circumvent Senate Democrats
and enact the Trump agenda later this year. This, by
the way, could take several months, and will continue to
watch all of it as it unfolds. But the good
news is this is a major victory for Donald Trump
(10:46):
and most importantly for American taxpayers.
Speaker 3 (10:49):
And here is story number three.
Speaker 4 (10:51):
If you watch the media today, they will tell you
that the tariffs are a disaster, that Donald Trump should
flinch and say sorry and immediately go back to the
old way of doing business. That is the story they
want you to believe. But the reality is the tariffs
are already working. One prime example is Vietnamese Deputy Prime Minister,
(11:12):
accompanied by a major entourage of Vietnamese business executives, announce
an emergency trip to Washington, D C. On Wednesday. Quietly,
that is the same day that Donald Trump revealed his
Liberation Day tariff schedule, which included a forty six percent
duty on imports from Vietnam. The Vietnamese delegation, we're now
(11:32):
being told, is scheduled to arrive on Sunday and remain
in Washington, D C. Until April fourteenth, when it will
pay an official visit to then Cuba. The Vietnamese Prime
Minister will be accompanied by executives from companies such as
Vietnam Airlines, JSC and Venta Capitol Group. The delegation hopes
to meet with Trump officials and beg basically for all
(11:55):
of these tariffs to be brought back down. They are
wanting to quote, make it deal. The business community in
Vietnam is panic, and they are panic that the government
is not doing enough too cool. The response from Donald
Trump the Prime Minister's visit, they claim, will pave the
way for real negotiations leading to a more balanced agreement
easing the burden on businesses amid the current tough business
(12:18):
landscape in Vietnam. That coming from The Saigon Times on Thursday,
they also reported that Vietnamese analysts and government officials expected
about a ten percent terre from Trump. The rate of
forty six percent that was revealed by Trump at the
White House is when the panic set in. Why Vietnam
is among the world's most trade dependent nations, with exports
(12:42):
equivalent to about ninety percent of economic output, and counts
the US as its most significant customer. Sales have served
since the trade war that broke out during Trump's first term,
when businesses sought to relocate away from China and Vietnam
became an alternative base for production aimed at American markets.
American customers buy about a third of what Vietnam exports
(13:05):
to the entire world, creating a massive trade surplus of
more than one hundred and twenty three billion dollars. This
appears to have factored into the tariff right reveal by
President Trump on Wednesday, and that is why Vietnam is
well freaking out and running to America. Tried to quote,
de escalate and come up with a fair deal for
(13:25):
both countries. Moral of the story is this, Vietnam would
have never called this emergency meeting if it wasn't for
Donald Trump and what he did the White House on
Liberation Day.
Speaker 3 (13:35):
Thank you for listening to the forty seven Morning Update
with Ben Ferguson. Please make sure you hit subscribe wherever
you're listening to this podcast right now and for more
in depth news, also subscribe to the Ben Ferguson podcast
and we will see you back here tomorrow
Host
Ben Ferguson
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