May 13, 2025 • 28 mins
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Trade Deals and Foreign Policy
- UK and China Trade Deals: The text highlights recent trade agreements, particularly with the UK and China, portraying them as major diplomatic victories.
- Ceasefires: Mentions ceasefires negotiated with India and Pakistan, and with the "Hoho Thies" (likely a misspelling or fictional group).
- Hostage Release: Celebrates the release of an American hostage from Gaza.
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China Trade Agreement Details
- Tariff Reductions: US tariffs on Chinese goods reduced from 145% to 30%, and Chinese tariffs on US goods from 125% to 10%.
- Market Access: China agrees to open its markets to American products and address issues like fentanyl exports.
- Skepticism of Media and Experts: The narrative criticizes mainstream media and economic experts for doubting the success of these deals.
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Criticism of Previous Administrations
- Obama-Biden and Biden-Harris: Accused of failing to enforce trade agreements and being weak on China.
- Allegations of Corruption: Claims that China had influence over the Biden family and administration.
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Prescription Drug Pricing Reform
- High US Drug Prices: Emphasizes how Americans pay significantly more for the same drugs than people in other countries.
- Policy Changes: Trump administration's push for "Most Favored Nation" pricing to ensure Americans pay the lowest global price.
- Impact on Big Pharma: Criticism of pharmaceutical companies and foreign governments for price manipulation.
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Economic Impact
- Market Reactions: Notes that global stock markets surged following the trade announcements.
- Currency and Commodities: US dollar strengthened; crude oil prices rose.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
We have got a lot that has happened at the
White House. In fact, and just the last week, President
Trump has secured a UK trade deal, which is already
old news. We now have this China trade deal. We
have the release of an American hostage. We have the
ceasefire with India and Pakistan, and a ceasefire with the
who Thies. And where's the media obsessing over well, saying
(00:22):
the Donald Trump's deal with China may not actually work out,
and that's what you should really be focusing on.
Speaker 2 (00:28):
White House press singer Terry.
Speaker 1 (00:30):
Coming out on Fox and Friends Monday morning, sang the
stage for all of this, saying, this.
Speaker 3 (00:35):
Told you the next one hundred days would consist of
peace deals in trade deals, and that's exactly what we
have seen. The President announced last week the big trade
deal with the UK, as you mentioned, Now we have
a first deal with China. Just yesterday, the President announced
the release of the last remaining American hostage in Gaza, Eden, Alexander,
who will soon be united with his loving family, God
(00:56):
bless him. That's thanks to President Trump. We also negotiated
a ceasefire with the Hoothies, and President Trump was instrumental
in negotiating a ceasefire with India and Pakistan.
Speaker 2 (01:06):
This is all in the last week.
Speaker 3 (01:08):
President Trump and his team are working incredibly hard on
behalf of the country and the world to secure peace deals,
in trade deals, and don't forget, we have a tax
deal coming too. The administration is working with Capitol Hills
to sign the largest tax cuts in American history. Right now, you.
Speaker 1 (01:26):
Listen to this White House and time and time again,
this administration is telling you what they're gonna do. The
Left says it's impossible, that it cannot happen, and then
they pay off on it and they do it. You
look at the president right now on the issue of China.
Just this week, I was on CNN and one of
the people from the view In Navarro, host of yous,
(01:48):
she's on CNN. She's like, and another expert quote unquote
expert when it comes to the economy we're on. They're like, well,
there's a very good chance these trade deals won't even
get done this year. And I'm like, that's not true,
that's absolutely not true. And I fought back hard because
they're just lying, and they're like, well, the American people
can't handle these trade deals and there's going to be
empty shelves because this is going to drag on into
(02:09):
next year. Well, what happened with China here is part
of what the White House said about that.
Speaker 4 (02:14):
First off, your reaction and what could you tell us
about the China deal that has tariffs dropping from one
hundred and forty five one twenty five respectively.
Speaker 2 (02:23):
To thirty and ten.
Speaker 3 (02:26):
This is an extraordinary first step in the right direction,
and thanks to the strength of President Trump, Secretary Besant,
and Ambassador Greer, we're able to cut this initial deal
with China. China agreed to reduce their tariffs on the
United States by one hundred and fifteen percent. They also
agreed to continue having discussions about opening Chinese markets to
(02:47):
American made products and goods. And they also agreed to
continue seriously discussing the grave impact that Chinese produced fetanol
is having right here in the.
Speaker 2 (02:56):
United States and our people.
Speaker 3 (02:58):
So this is a great first for the American public,
and Secretary Best and Ambassador Greer, and of course President
Trump will continue negotiations with China so we can hopefully
inevitably get to a fair and comprehensive big trade deal.
Speaker 1 (03:12):
So, yet again with the media and the last set
was impossible has become a reality. President Trump also on Monday,
saying this about China and the.
Speaker 4 (03:20):
Deal, and they've agreed to open China, fully open China.
And I think it's going to be fantastic for China.
I think it's going to be fantastic for US, and
I think it's going to be great for unification and peace.
China will also suspend and remove all of its non
monetary barriers. They've agreed to do that. Well, they're very numerous.
(03:42):
But again, to me, the biggest thing that came out
of that meeting is they've agreed. Now we have to
get it papered, but they've agreed to open up China's
going to be great for everybody.
Speaker 1 (03:51):
And look, this is the President United States of America
having dialogue and conversations and sending an envoy to Geneva,
where he said, we got to let them understand they've
been taking advantage of us. They know that we're not
going to let them keep doing it. They know that,
so let's do a better deal for both nations. And
so as he described what happened Geneva, here's what he
(04:12):
said with more details.
Speaker 4 (04:14):
In addition, yesterday we achieved a total reset with China
after productive talks in Geneva. Both sides now agree to
reduce the tariffs imposed after April second to ten percent
for ninety days as negotiators continue in the largest structural issues.
Speaker 5 (04:33):
And I want to tell you that a couple of things.
Speaker 4 (04:37):
First of all, that doesn't include the tariffs that are
already on that are our tariffs, And it doesn't include
tariffs on cars, steel, aluminum, things such as that, or
tariffs that may be imposed on pharmaceuticals, because we want
to bring the pharmaceutical businesses back to the United States
and they're already starting to come back now based on tariffs.
Speaker 1 (05:00):
Let me walk you through where we were and where
we are now, because if you look at this timeline,
it's one that you need to understand not only how
quickly this happened, but also what the art of the
deal look like. I'm going to take you back to
Phase one of the trade agreement signed January the fifteenth
of twenty twenty.
Speaker 2 (05:18):
All right, Phase one. The agreement back.
Speaker 1 (05:21):
Then aimed to ease trade tensions between the US and
China that had escalated. They claim since twenty eighteen. China
commitments were to increase the purchase of US goods and
services by two hundred billion over twenty twenty twenty twenty
one compared to quote twenty seventeen levels.
Speaker 2 (05:37):
Guess what happened. They didn't do that.
Speaker 1 (05:39):
They also claim they were going to enhance intellectual property protections.
Speaker 2 (05:42):
They didn't do it.
Speaker 1 (05:43):
They said they were going to eliminate force technology transfers,
they lied, they didn't do it. They said they were
going to reframe from competitive currency devaluation.
Speaker 2 (05:51):
They lied.
Speaker 1 (05:52):
They are currency they do currency manipulation.
Speaker 2 (05:55):
All the time. They didn't do it.
Speaker 1 (05:57):
Now again, I go back to their lies with the
Obama Biden regime and the Biden Harrish regime. They said
they were going to improve access for US financial services firms.
All of that was a lie. None of it works.
So you now look and you move forward from there. Right,
they were lying. They're taking advantage of us. They have
tarras on our stuff. They don't look our stuff going
to their country. You move forward to twenty twenty five
(06:20):
May the twelfth, and here's what we now know. There
was this trade tension. They took advantage of us. The
President said no more, and he said we're done. We're
going to basically put imports to one hundred and forty
five percent. You now see where we are today on
the twelfth, and the US tarifs on Chinese imports are
(06:41):
gone from one hundred and forty five percent to down
to thirty percent. Chinese tariffs on US goods have been
reduced from one hundred and twenty five percent to ten percent,
and the reductions are set for ninety day periods, during
which they say further negotiations will continue. Global stock markets
so what do they do. They didn't listen to the
media or the left or the Democrats. They surge with
(07:04):
significant games and major indexes. The US dollar also strengthened,
and commodity price including crude oil, rowse significantly. While the
agreement is seen is a quote positive step, experts quote
caution it may be temporary fixed without addressing underlying issues.
That's the economic times. Again, you cannot trust the media
(07:26):
and how they're doing this. So what is the takeaway
from this? The takeaway is pretty simple, US China trade.
The relations are seeing a significant development in favor of
the US. China needs America more than we need China,
is what they are now signaling. They were going to
have major economic problems in China. That's the reason why
(07:47):
they decide to come forward and do this deal now.
And look, if you listen to what those around the
president said about this deal, President Trump outlining a vision
and they said for rebranding and rebalancing global trade. I
want you to hear what Scotts said had to say,
take a listen.
Speaker 6 (08:07):
This administration is running full speed to make sure that
what we saw during COVID never happens again. So it's
a combination of it can be terrorists, but again it
is the administration moving as quickly as possible to make
sure that we are self sufficient in the strategic industries.
Speaker 7 (08:29):
I think that's completely understandable from the United States side,
and I wanted to miss the secretary whether the Chinese
understood that. Did you get the sense they do understand
that that will be the road forward for the United States.
Speaker 6 (08:43):
Well, I think they understand that, and I think they
understand that we are focused on fair trade, that this
gigantic deficit that we have with them, that it didn't
happen last year, it didn't happen the year before, It's
happened over decades, and that this happened. Half excuse me
(09:03):
has to be remedied. The China shock gutted our manufacturing sector,
and we want to bring that back. On the other side,
Party Chair. She has said that he would like to
increase consumption, but to date the Chinese have just increased manufacturing.
So we would like to see them increase consumption. We
(09:26):
would like to see them open their market to American products.
So there are two ways to rebalance. One is fewer
Chinese goods in the US market. The other is more
American goods in the Chinese market. And my guess is
that the answer is somewhere in between.
Speaker 1 (09:47):
So you listen to what the President outlined a vision
for a rebalance, and we're getting it this ninety days
to move forward with lowering these tariffs on each country
and China moving several steps closer to achieving a major
renegotiation deal. Everyone said this was impossible, and it's happening.
(10:09):
God blessed Donald Trump for doing this. I mentioned earlier
that China ignored and broke virtually everything from twenty twenty
to twenty twenty four that we had had in agreements
before them. Currency manipulation, laugh in our face is a
great example of that Second Trader. Secretary Bassett also said
this about China and why they were able to get
(10:31):
away with ignoring the trade agreement that was set up
by Trump in twenty sixteen through twenty twenty, that Joe
Biden inherited that they just they didn't care because they
knew Joe Biden was weak.
Speaker 2 (10:42):
They owned him.
Speaker 1 (10:43):
This goes back to the corruption with the Biden crime family.
China was paying off the President's family clearly, and the
ten percent for the big guy.
Speaker 2 (10:54):
They knew they didn't have to play by the rules.
Speaker 6 (10:57):
What has to happen is it has to be fair
for the American people. But in January twenty twenty, President
Trump produced a template.
Speaker 5 (11:06):
We had an.
Speaker 6 (11:07):
Excellent trade agreement with China, and the Biden administration chows not.
Speaker 2 (11:14):
To enforce it.
Speaker 6 (11:15):
That the Chinese delegation basically told us that once President
Biden came into office, they just ignored their obligations. So
we all already have a large framework. The other thing
to remember here, Jonathan, is that this is a pause
down to ten percent. The April second level for China
(11:37):
is thirty four percent, So we will be working to
see where their final reciprocal number ends up, and the
negotiations are a combination of tariffs, non tariff trade barriers,
currency manipulation, and subsidies of labor and capital.
Speaker 1 (12:00):
So this is all part of the Grand Plan. Trump
has a China trade deal. They said it couldn't happen.
Trump is lowering prescription drug prices. That's another thing that
he did as well. So let's move to that because
that's another big part of this story right now that
you need to understand. The President coming out making it
very cleared that it's time for us to fight big pharma,
(12:23):
as he put it, fight them and make sure that
America is no longer taking advantage of. Same thing with
the what we just talked about with China, but now
this applies to us and to what we're dealing with
with prescription drug prices that are clearly out of control.
Take a listen to the President talking about this at
(12:47):
the White House or saying we are no longer going
to be taken advantage of and the rest of the
world is going to have to pay their fair share,
and we're not going to subsidize these companies.
Speaker 4 (12:56):
But starting today, the United States will no longer subsidize
the healthcare air of foreign countries, which is what we
were doing. We were subsidizing others healthcare countries where they
paid a small fraction of what for the same drug.
Speaker 5 (13:10):
That what we pay many, many times more for.
Speaker 4 (13:13):
And we're no longer tolerate profiteering and price gouging from
big pharma.
Speaker 5 (13:18):
But again, it was.
Speaker 4 (13:20):
Really the countries that forced Big Farmer to do things
that frankly, I'm not sure they really felt comfortable doing.
But they've gotten away with it these countries. European Union
has been brutal, and the drug companies actually told me, sirs,
it was just brutal how they forced them. And European
Union suing all our companies Apple, Google, Meta, they're suing
(13:46):
all of our companies.
Speaker 5 (13:47):
They end up they have judges that are.
Speaker 4 (13:51):
European Union centric and they get rewarded fifteen billion, seventeen billion,
twenty and they use that to run their operation.
Speaker 5 (14:04):
Not going to happen any longer that I can tell you.
Speaker 1 (14:08):
Not going to happen any longer that I can tell you.
And so is this going to be a slash and
the prices for you the American people? Yes, how do
we know it? Here's the President on that so for
the first time in many.
Speaker 4 (14:21):
Years, we'll slash the costs of prescription drugs and we
will bring fairness to America. Drug prices will come down
by much more. Really, if you think fifty nine, if
you think of a drug that is sometimes ten times
more expensive, it's much more than the fifty nine percent.
You know, it depends on the way you want to
analyze it, but in one way, you could analyze it
(14:43):
that way. But between fifty nine and eighty and I
guess even ninety percent. So when I worked so hard
in the first term, and if I got prices down,
I remember I was the only one to ever get
prices down for a full year. But I get them
down like two percent, and I thought it was like
a big deal. Well we're getting them down sixty seventy
(15:03):
eighty ninety percent, But actually more than that if you
think about it in the way mathematically, and farmer has
to say, we're sorry, but we'll not be able to
do this any longer. To these to these countries that
have been so tough, they've been very tough, nasty. It's trade,
(15:24):
it's trade, and farmer is also very powerful. And the
Democrats have protected farmers and Look.
Speaker 1 (15:31):
The President wasn't done there, as he explained to the
American people, and this is good for everyone. This is
not a political statement the president's making. He's talking about
how much more we are paying then other countries are
paying for the same drugs made in the same pharmaceutical labs.
The same damn pill in the same place, comes off
the line, and it goes to one country and they
(15:52):
pay ten cents on the dollar compared to the US.
Speaker 2 (15:56):
It's wrong.
Speaker 4 (15:57):
So today Americans spend twenty percent more for prescription drugs
than we spent in the year two thousand.
Speaker 5 (16:04):
Think of that.
Speaker 4 (16:05):
Our country has the highest drug prices anywhere in the
world by sometimes a factor of five, six seven, eight times.
It's not like they're slightly highed that six seven eight times.
Speaker 5 (16:16):
There are even cases of.
Speaker 4 (16:17):
Ten times higher, so that you go ten times more
expensive for the same drug. That's big numbers. Even though
the United States is home to only four percent of
the world's population, pharmaceutical companies make more than two thirds
of their profits in America. So think of that, with
four percent of the population, the pharmaceutical companies make most
(16:39):
of their money, most of their profits from America.
Speaker 5 (16:43):
That's not a good thing. Now.
Speaker 4 (16:46):
I think, by the way pharmaceutical have great respect for
these companies and for the people that run them. I
really do, and I think they did one of the
greatest jobs in history for their company, convincing people for
many years that this was a fair system. Never nobody
really understood why, but I figured it out. For years,
(17:06):
pharmaceutical and drug companies have said that research and development
costs were what they are for no reason whatsoever.
Speaker 5 (17:15):
They had to be borne by America alone. Not anymore.
They don't, not anymore.
Speaker 1 (17:23):
They don't the present saying we're going to most favored
nation prescription drug pricing. This is where it's going to
affect you in your bottom line when you go shopping
for drugs that you need.
Speaker 2 (17:36):
And here is how that's going to work.
Speaker 4 (17:39):
But it's called most favored nation. We are going to
pay the lowest price there is in the world. We
will get whoever is paying the lowest price, that's the
price that we're going to get.
Speaker 5 (17:49):
So remember that.
Speaker 4 (17:50):
So we're no longer paying ten times more than another country.
Whoever is paying the lowest price. We will look at
that price and we will say that's the price reguard.
Speaker 5 (18:00):
To pay most favorite nations. That's what it is.
Speaker 4 (18:06):
One breast cancer drug costs Americans over sixteen thousand dollars
per bottle, but the same drug from the same factory,
manufactured by the same company is one sixth that price
in Australia and one tenth that price in Sweden, one tenth.
Speaker 5 (18:28):
For the identical product.
Speaker 4 (18:31):
A common asthma drug costs almost five hundred dollars here
in America, but costs less than forty dollars in the
United Kingdom. So forty dollars in the United Kingdom, which
is where this gentleman told me he paid a small
amount for his shot. But think of that, So forty
dollars versus five hundred dollars.
Speaker 1 (18:54):
Here, forty dollars compared to four or five hundred dollars here.
You have a president that is saying it very clearly,
this should have been done a long time ago. We
should have made it competitive market. That's what the American
people should have expected here. And one of the biggest
(19:15):
problems is when it comes to us, is we have
so many people that are filing bankruptcy, so many Americans
that are filing bankruptcy because of these incredibly high prices.
This is a historic day for the president. It's a
historic day, by the way, for the American people. It's
something that we should all be so excited about because
(19:37):
we finally have a president that is saying no more
to bankruptcy because of people that are having to mortgage
their homes and second mortgage and third mortgage to pay
for life saving pills that other countries are paying pennies
on the dollar for. It's exactly, by the way, what
the NIH director had to say.
Speaker 8 (19:53):
I firmly believe in research and development for drugs. I mean,
it's part of the nit's mission to to look for
fundamental biological advances that develop in better treatments. But why
should it only be American taxpayers that pay for that.
What President Trump is doing is saying enough, let's have
a broader base of support for this research mission. It's
(20:14):
actually pro in some ways pro pharmas because it's going
to expand the set of of of sort of stakeholders
to include Europeans as well for the for the support
of R and D, while at the same time protecting
American taxpayers from having to pay such high prices for drugs.
I mean, we have patients going bankrupt over high high
(20:34):
health bills.
Speaker 5 (20:35):
We have a.
Speaker 1 (20:36):
Going bankrupt and the President's trying to stop that. Major
victory Number one for the American people is going to
have a massive impact on so many Americans that deal
with high costs of prescription drugs. Here is what you
need to know about what the President has done to
(20:57):
lower the price of prescription drugs for all Americans. The
announcement and the action put forth saying American patients will
be first instead of the pharmaceutical companies by Donald Trump
will have an impact for every American. Now, this should
not be a conservative or liberal, or Republican or Democratic issue,
(21:18):
yet Democrats are angry about it. So let me tell
you exactly how this is going to have an impact
on you. First up, the President said that we are
now going to have most Favored nation prescription drug pricing,
saying we are going to pay the lowest price that
there is in the world.
Speaker 2 (21:39):
Here's the President in his own words.
Speaker 4 (21:42):
But it's called most Favored nation. We are going to
pay the lowest price there is in the world. We
will get whoever is paying the lowest price. That's the
price that we're going to get. So remember this, So
We're no longer paying ten times more than another country.
Whoever is paying the lowest price. We will look at
that price and we will say that's the price we're
(22:03):
going to pay most favorite nations.
Speaker 5 (22:07):
That's what it is.
Speaker 4 (22:09):
One breast cancer drug costs Americans over sixteen thousand dollars
per bottle, but the same drug from the same factory,
manufactured by the same company is one sixth that price
in Australia and one tenth that price in Sweden, one
(22:30):
tenth for.
Speaker 5 (22:31):
The identical product.
Speaker 4 (22:34):
A common asthma drug costs almost five hundred dollars here
in America, but costs less than forty dollars in the
United Kingdom. So forty dollars in the United Kingdom, which
is where this gentleman told me he paid a small amount.
Speaker 5 (22:49):
For his shot.
Speaker 4 (22:53):
But think of that, So forty dollars versus five hundred dollars.
Speaker 1 (22:58):
Here, forty compared to five hundred dollars, the difference between
the UK and the US. Now, let me explain more
about this order. The order directs the US Trade Representative
and the Secretary of Commerce to take action to ensure
foreign countries are not engaged in practices that purposely and
(23:18):
unfairly undercut market prices and drive price hikes in the
United States. All what I'm giving you right now is
coming directly from the White House, and want to make
that very clear. Number Two, the order instructs the Administration
to communicate price targets to pharmaceutical manufacturers to establish that America,
(23:38):
the largest purchaser and funder of prescription drugs in the world.
Speaker 2 (23:43):
Gets the best price.
Speaker 1 (23:45):
The Secretary of Health and Human Services is going to
establish a mechanism through which American patients can buy their
drugs directly from manufacturers who sell to Americans at a
quote most favored nation price, bypassing the middlemen, and finally
for the White House. If drug manufacturers fail to offer
(24:07):
most favored nation pricing, the order directs the Secretary of
Health and Human Services to one propose rules and impose
most favored nation pricing, and two take other aggressive measures
to significantly reduce the costs of prescription drugs the American consumer,
and most importantly, in anti competitive practices. Why because the
(24:31):
White House says it's about getting a better deal for
Americans and President Trump once again taking action to keep
pharmaceutical manufacturers from charging Americans high drug prices while giving
steep discounts to other wealthy nations.
Speaker 2 (24:47):
That is something that.
Speaker 1 (24:48):
Doctor Oz talked about the White House with the President
by his side, and here is what he said.
Speaker 9 (24:54):
That means that we are paying in America four times
more than that drug costs other countries. Again, one hundred
percents the baseline's two hundred and eighty nine percent. Above
that baseline, it goes all the way down to where
we're paying fifty percent more than any other country. That's
the range, as was pointed out by President Trump. Half
the time, we're paying three times more than it's paid
(25:14):
in other countries. It doesn't make any sense for the
system that stated President Trump is over and over again indicated,
and Secretary Kennedy has reflected as well. We want innovation,
We want our technology partners doing the best they can
to make the best solutions for drugs to secure as
many people in America and around the world as possible.
By getting our allies to pay a bit more as
(25:35):
they should be and they should have for many years
been doing, will course correct a problem that's gotten out
of hand. And by doing that in a thoughtful, effective way,
we're going to be able to get the pharmaceutical industry hole.
Those jobs will still be here, will still be productive,
will still be curing cancer and a slew of other
ailments that plague humanity. America will still be the leader
in this space. But we're paying the appropriate amount, the
(25:56):
right sized amount for those tasks.
Speaker 1 (25:59):
Now you may ask yourself this question, why is the
president doing this? Well, it's all in the numbers. The
United States has less than five percent of the world's population,
yet funds roughly seventy five percent of global pharmaceutical profits.
Speaker 2 (26:17):
Here's the other thing you may not know.
Speaker 1 (26:19):
Drug manufacturers discount their products to gain access to foreign markets,
and then subsidize those discounts through high prices charged in America.
Speaker 2 (26:29):
In essence, you.
Speaker 1 (26:31):
Are subsidizing drug manufacturer profits and foreign health systems are
getting the big deal, despite drug manufacturers benefiting from generous
research subsidies and enormous healthcare spending by the US government.
Now on his first term, you may not know this,
but President Trump took historic action to keep Medicare and
(26:52):
seniors from paying more for drugs than economically comparable countries,
which the Biden administration rescinded before it could even take effect.
Why because they're owned by Big Pharma. Instead of fixing
this problem, the Biden administration's greatest achievement was to negotiate
(27:13):
prices that were on average seventy eight percent higher than
an eleven comparable countries as part of Biden's efforts to
quote beat medicare in translation, the Democratic Party sold you out,
the Americans who are suffering and desperately need pharmaceutical drugs,
(27:34):
and they sold you out to the highest bidder, the
lobbyists and the companies that came in and said this
is what we need. The President making it clear this
is never going to happen again in the US and
as long as he is present, he is going to
fight for innovation, fight for technology, and make sure that
you are paying less than any other major nation in
(27:58):
the world. Make sure you share this podcast with your
family and friends, put it up on social media wherever
you are, and we appreciate you listening every day.
Speaker 2 (28:06):
We'll see you back here tomorrow.
We have got a lot that has happened at the
White House. In fact, and just the last week, President
Trump has secured a UK trade deal, which is already
old news. We now have this China trade deal. We
have the release of an American hostage. We have the
ceasefire with India and Pakistan, and a ceasefire with the
who Thies. And where's the media obsessing over well, saying
(00:22):
the Donald Trump's deal with China may not actually work out,
and that's what you should really be focusing on.
Speaker 2 (00:28):
White House press singer Terry.
Speaker 1 (00:30):
Coming out on Fox and Friends Monday morning, sang the
stage for all of this, saying, this.
Speaker 3 (00:35):
Told you the next one hundred days would consist of
peace deals in trade deals, and that's exactly what we
have seen. The President announced last week the big trade
deal with the UK, as you mentioned, Now we have
a first deal with China. Just yesterday, the President announced
the release of the last remaining American hostage in Gaza, Eden, Alexander,
who will soon be united with his loving family, God
(00:56):
bless him. That's thanks to President Trump. We also negotiated
a ceasefire with the Hoothies, and President Trump was instrumental
in negotiating a ceasefire with India and Pakistan.
Speaker 2 (01:06):
This is all in the last week.
Speaker 3 (01:08):
President Trump and his team are working incredibly hard on
behalf of the country and the world to secure peace deals,
in trade deals, and don't forget, we have a tax
deal coming too. The administration is working with Capitol Hills
to sign the largest tax cuts in American history. Right now, you.
Speaker 1 (01:26):
Listen to this White House and time and time again,
this administration is telling you what they're gonna do. The
Left says it's impossible, that it cannot happen, and then
they pay off on it and they do it. You
look at the president right now on the issue of China.
Just this week, I was on CNN and one of
the people from the view In Navarro, host of yous,
(01:48):
she's on CNN. She's like, and another expert quote unquote
expert when it comes to the economy we're on. They're like, well,
there's a very good chance these trade deals won't even
get done this year. And I'm like, that's not true,
that's absolutely not true. And I fought back hard because
they're just lying, and they're like, well, the American people
can't handle these trade deals and there's going to be
empty shelves because this is going to drag on into
(02:09):
next year. Well, what happened with China here is part
of what the White House said about that.
Speaker 4 (02:14):
First off, your reaction and what could you tell us
about the China deal that has tariffs dropping from one
hundred and forty five one twenty five respectively.
Speaker 2 (02:23):
To thirty and ten.
Speaker 3 (02:26):
This is an extraordinary first step in the right direction,
and thanks to the strength of President Trump, Secretary Besant,
and Ambassador Greer, we're able to cut this initial deal
with China. China agreed to reduce their tariffs on the
United States by one hundred and fifteen percent. They also
agreed to continue having discussions about opening Chinese markets to
(02:47):
American made products and goods. And they also agreed to
continue seriously discussing the grave impact that Chinese produced fetanol
is having right here in the.
Speaker 2 (02:56):
United States and our people.
Speaker 3 (02:58):
So this is a great first for the American public,
and Secretary Best and Ambassador Greer, and of course President
Trump will continue negotiations with China so we can hopefully
inevitably get to a fair and comprehensive big trade deal.
Speaker 1 (03:12):
So, yet again with the media and the last set
was impossible has become a reality. President Trump also on Monday,
saying this about China and the.
Speaker 4 (03:20):
Deal, and they've agreed to open China, fully open China.
And I think it's going to be fantastic for China.
I think it's going to be fantastic for US, and
I think it's going to be great for unification and peace.
China will also suspend and remove all of its non
monetary barriers. They've agreed to do that. Well, they're very numerous.
(03:42):
But again, to me, the biggest thing that came out
of that meeting is they've agreed. Now we have to
get it papered, but they've agreed to open up China's
going to be great for everybody.
Speaker 1 (03:51):
And look, this is the President United States of America
having dialogue and conversations and sending an envoy to Geneva,
where he said, we got to let them understand they've
been taking advantage of us. They know that we're not
going to let them keep doing it. They know that,
so let's do a better deal for both nations. And
so as he described what happened Geneva, here's what he
(04:12):
said with more details.
Speaker 4 (04:14):
In addition, yesterday we achieved a total reset with China
after productive talks in Geneva. Both sides now agree to
reduce the tariffs imposed after April second to ten percent
for ninety days as negotiators continue in the largest structural issues.
Speaker 5 (04:33):
And I want to tell you that a couple of things.
Speaker 4 (04:37):
First of all, that doesn't include the tariffs that are
already on that are our tariffs, And it doesn't include
tariffs on cars, steel, aluminum, things such as that, or
tariffs that may be imposed on pharmaceuticals, because we want
to bring the pharmaceutical businesses back to the United States
and they're already starting to come back now based on tariffs.
Speaker 1 (05:00):
Let me walk you through where we were and where
we are now, because if you look at this timeline,
it's one that you need to understand not only how
quickly this happened, but also what the art of the
deal look like. I'm going to take you back to
Phase one of the trade agreement signed January the fifteenth
of twenty twenty.
Speaker 2 (05:18):
All right, Phase one. The agreement back.
Speaker 1 (05:21):
Then aimed to ease trade tensions between the US and
China that had escalated. They claim since twenty eighteen. China
commitments were to increase the purchase of US goods and
services by two hundred billion over twenty twenty twenty twenty
one compared to quote twenty seventeen levels.
Speaker 2 (05:37):
Guess what happened. They didn't do that.
Speaker 1 (05:39):
They also claim they were going to enhance intellectual property protections.
Speaker 2 (05:42):
They didn't do it.
Speaker 1 (05:43):
They said they were going to eliminate force technology transfers,
they lied, they didn't do it. They said they were
going to reframe from competitive currency devaluation.
Speaker 2 (05:51):
They lied.
Speaker 1 (05:52):
They are currency they do currency manipulation.
Speaker 2 (05:55):
All the time. They didn't do it.
Speaker 1 (05:57):
Now again, I go back to their lies with the
Obama Biden regime and the Biden Harrish regime. They said
they were going to improve access for US financial services firms.
All of that was a lie. None of it works.
So you now look and you move forward from there. Right,
they were lying. They're taking advantage of us. They have
tarras on our stuff. They don't look our stuff going
to their country. You move forward to twenty twenty five
(06:20):
May the twelfth, and here's what we now know. There
was this trade tension. They took advantage of us. The
President said no more, and he said we're done. We're
going to basically put imports to one hundred and forty
five percent. You now see where we are today on
the twelfth, and the US tarifs on Chinese imports are
(06:41):
gone from one hundred and forty five percent to down
to thirty percent. Chinese tariffs on US goods have been
reduced from one hundred and twenty five percent to ten percent,
and the reductions are set for ninety day periods, during
which they say further negotiations will continue. Global stock markets
so what do they do. They didn't listen to the
media or the left or the Democrats. They surge with
(07:04):
significant games and major indexes. The US dollar also strengthened,
and commodity price including crude oil, rowse significantly. While the
agreement is seen is a quote positive step, experts quote
caution it may be temporary fixed without addressing underlying issues.
That's the economic times. Again, you cannot trust the media
(07:26):
and how they're doing this. So what is the takeaway
from this? The takeaway is pretty simple, US China trade.
The relations are seeing a significant development in favor of
the US. China needs America more than we need China,
is what they are now signaling. They were going to
have major economic problems in China. That's the reason why
(07:47):
they decide to come forward and do this deal now.
And look, if you listen to what those around the
president said about this deal, President Trump outlining a vision
and they said for rebranding and rebalancing global trade. I
want you to hear what Scotts said had to say,
take a listen.
Speaker 6 (08:07):
This administration is running full speed to make sure that
what we saw during COVID never happens again. So it's
a combination of it can be terrorists, but again it
is the administration moving as quickly as possible to make
sure that we are self sufficient in the strategic industries.
Speaker 7 (08:29):
I think that's completely understandable from the United States side,
and I wanted to miss the secretary whether the Chinese
understood that. Did you get the sense they do understand
that that will be the road forward for the United States.
Speaker 6 (08:43):
Well, I think they understand that, and I think they
understand that we are focused on fair trade, that this
gigantic deficit that we have with them, that it didn't
happen last year, it didn't happen the year before, It's
happened over decades, and that this happened. Half excuse me
(09:03):
has to be remedied. The China shock gutted our manufacturing sector,
and we want to bring that back. On the other side,
Party Chair. She has said that he would like to
increase consumption, but to date the Chinese have just increased manufacturing.
So we would like to see them increase consumption. We
(09:26):
would like to see them open their market to American products.
So there are two ways to rebalance. One is fewer
Chinese goods in the US market. The other is more
American goods in the Chinese market. And my guess is
that the answer is somewhere in between.
Speaker 1 (09:47):
So you listen to what the President outlined a vision
for a rebalance, and we're getting it this ninety days
to move forward with lowering these tariffs on each country
and China moving several steps closer to achieving a major
renegotiation deal. Everyone said this was impossible, and it's happening.
(10:09):
God blessed Donald Trump for doing this. I mentioned earlier
that China ignored and broke virtually everything from twenty twenty
to twenty twenty four that we had had in agreements
before them. Currency manipulation, laugh in our face is a
great example of that Second Trader. Secretary Bassett also said
this about China and why they were able to get
(10:31):
away with ignoring the trade agreement that was set up
by Trump in twenty sixteen through twenty twenty, that Joe
Biden inherited that they just they didn't care because they
knew Joe Biden was weak.
Speaker 2 (10:42):
They owned him.
Speaker 1 (10:43):
This goes back to the corruption with the Biden crime family.
China was paying off the President's family clearly, and the
ten percent for the big guy.
Speaker 2 (10:54):
They knew they didn't have to play by the rules.
Speaker 6 (10:57):
What has to happen is it has to be fair
for the American people. But in January twenty twenty, President
Trump produced a template.
Speaker 5 (11:06):
We had an.
Speaker 6 (11:07):
Excellent trade agreement with China, and the Biden administration chows not.
Speaker 2 (11:14):
To enforce it.
Speaker 6 (11:15):
That the Chinese delegation basically told us that once President
Biden came into office, they just ignored their obligations. So
we all already have a large framework. The other thing
to remember here, Jonathan, is that this is a pause
down to ten percent. The April second level for China
(11:37):
is thirty four percent, So we will be working to
see where their final reciprocal number ends up, and the
negotiations are a combination of tariffs, non tariff trade barriers,
currency manipulation, and subsidies of labor and capital.
Speaker 1 (12:00):
So this is all part of the Grand Plan. Trump
has a China trade deal. They said it couldn't happen.
Trump is lowering prescription drug prices. That's another thing that
he did as well. So let's move to that because
that's another big part of this story right now that
you need to understand. The President coming out making it
very cleared that it's time for us to fight big pharma,
(12:23):
as he put it, fight them and make sure that
America is no longer taking advantage of. Same thing with
the what we just talked about with China, but now
this applies to us and to what we're dealing with
with prescription drug prices that are clearly out of control.
Take a listen to the President talking about this at
(12:47):
the White House or saying we are no longer going
to be taken advantage of and the rest of the
world is going to have to pay their fair share,
and we're not going to subsidize these companies.
Speaker 4 (12:56):
But starting today, the United States will no longer subsidize
the healthcare air of foreign countries, which is what we
were doing. We were subsidizing others healthcare countries where they
paid a small fraction of what for the same drug.
Speaker 5 (13:10):
That what we pay many, many times more for.
Speaker 4 (13:13):
And we're no longer tolerate profiteering and price gouging from
big pharma.
Speaker 5 (13:18):
But again, it was.
Speaker 4 (13:20):
Really the countries that forced Big Farmer to do things
that frankly, I'm not sure they really felt comfortable doing.
But they've gotten away with it these countries. European Union
has been brutal, and the drug companies actually told me, sirs,
it was just brutal how they forced them. And European
Union suing all our companies Apple, Google, Meta, they're suing
(13:46):
all of our companies.
Speaker 5 (13:47):
They end up they have judges that are.
Speaker 4 (13:51):
European Union centric and they get rewarded fifteen billion, seventeen billion,
twenty and they use that to run their operation.
Speaker 5 (14:04):
Not going to happen any longer that I can tell you.
Speaker 1 (14:08):
Not going to happen any longer that I can tell you.
And so is this going to be a slash and
the prices for you the American people? Yes, how do
we know it? Here's the President on that so for
the first time in many.
Speaker 4 (14:21):
Years, we'll slash the costs of prescription drugs and we
will bring fairness to America. Drug prices will come down
by much more. Really, if you think fifty nine, if
you think of a drug that is sometimes ten times
more expensive, it's much more than the fifty nine percent.
You know, it depends on the way you want to
analyze it, but in one way, you could analyze it
(14:43):
that way. But between fifty nine and eighty and I
guess even ninety percent. So when I worked so hard
in the first term, and if I got prices down,
I remember I was the only one to ever get
prices down for a full year. But I get them
down like two percent, and I thought it was like
a big deal. Well we're getting them down sixty seventy
(15:03):
eighty ninety percent, But actually more than that if you
think about it in the way mathematically, and farmer has
to say, we're sorry, but we'll not be able to
do this any longer. To these to these countries that
have been so tough, they've been very tough, nasty. It's trade,
(15:24):
it's trade, and farmer is also very powerful. And the
Democrats have protected farmers and Look.
Speaker 1 (15:31):
The President wasn't done there, as he explained to the
American people, and this is good for everyone. This is
not a political statement the president's making. He's talking about
how much more we are paying then other countries are
paying for the same drugs made in the same pharmaceutical labs.
The same damn pill in the same place, comes off
the line, and it goes to one country and they
(15:52):
pay ten cents on the dollar compared to the US.
Speaker 2 (15:56):
It's wrong.
Speaker 4 (15:57):
So today Americans spend twenty percent more for prescription drugs
than we spent in the year two thousand.
Speaker 5 (16:04):
Think of that.
Speaker 4 (16:05):
Our country has the highest drug prices anywhere in the
world by sometimes a factor of five, six seven, eight times.
It's not like they're slightly highed that six seven eight times.
Speaker 5 (16:16):
There are even cases of.
Speaker 4 (16:17):
Ten times higher, so that you go ten times more
expensive for the same drug. That's big numbers. Even though
the United States is home to only four percent of
the world's population, pharmaceutical companies make more than two thirds
of their profits in America. So think of that, with
four percent of the population, the pharmaceutical companies make most
(16:39):
of their money, most of their profits from America.
Speaker 5 (16:43):
That's not a good thing. Now.
Speaker 4 (16:46):
I think, by the way pharmaceutical have great respect for
these companies and for the people that run them. I
really do, and I think they did one of the
greatest jobs in history for their company, convincing people for
many years that this was a fair system. Never nobody
really understood why, but I figured it out. For years,
(17:06):
pharmaceutical and drug companies have said that research and development
costs were what they are for no reason whatsoever.
Speaker 5 (17:15):
They had to be borne by America alone. Not anymore.
They don't, not anymore.
Speaker 1 (17:23):
They don't the present saying we're going to most favored
nation prescription drug pricing. This is where it's going to
affect you in your bottom line when you go shopping
for drugs that you need.
Speaker 2 (17:36):
And here is how that's going to work.
Speaker 4 (17:39):
But it's called most favored nation. We are going to
pay the lowest price there is in the world. We
will get whoever is paying the lowest price, that's the
price that we're going to get.
Speaker 5 (17:49):
So remember that.
Speaker 4 (17:50):
So we're no longer paying ten times more than another country.
Whoever is paying the lowest price. We will look at
that price and we will say that's the price reguard.
Speaker 5 (18:00):
To pay most favorite nations. That's what it is.
Speaker 4 (18:06):
One breast cancer drug costs Americans over sixteen thousand dollars
per bottle, but the same drug from the same factory,
manufactured by the same company is one sixth that price
in Australia and one tenth that price in Sweden, one tenth.
Speaker 5 (18:28):
For the identical product.
Speaker 4 (18:31):
A common asthma drug costs almost five hundred dollars here
in America, but costs less than forty dollars in the
United Kingdom. So forty dollars in the United Kingdom, which
is where this gentleman told me he paid a small
amount for his shot. But think of that, So forty
dollars versus five hundred dollars.
Speaker 1 (18:54):
Here, forty dollars compared to four or five hundred dollars here.
You have a president that is saying it very clearly,
this should have been done a long time ago. We
should have made it competitive market. That's what the American
people should have expected here. And one of the biggest
(19:15):
problems is when it comes to us, is we have
so many people that are filing bankruptcy, so many Americans
that are filing bankruptcy because of these incredibly high prices.
This is a historic day for the president. It's a
historic day, by the way, for the American people. It's
something that we should all be so excited about because
(19:37):
we finally have a president that is saying no more
to bankruptcy because of people that are having to mortgage
their homes and second mortgage and third mortgage to pay
for life saving pills that other countries are paying pennies
on the dollar for. It's exactly, by the way, what
the NIH director had to say.
Speaker 8 (19:53):
I firmly believe in research and development for drugs. I mean,
it's part of the nit's mission to to look for
fundamental biological advances that develop in better treatments. But why
should it only be American taxpayers that pay for that.
What President Trump is doing is saying enough, let's have
a broader base of support for this research mission. It's
(20:14):
actually pro in some ways pro pharmas because it's going
to expand the set of of of sort of stakeholders
to include Europeans as well for the for the support
of R and D, while at the same time protecting
American taxpayers from having to pay such high prices for drugs.
I mean, we have patients going bankrupt over high high
(20:34):
health bills.
Speaker 5 (20:35):
We have a.
Speaker 1 (20:36):
Going bankrupt and the President's trying to stop that. Major
victory Number one for the American people is going to
have a massive impact on so many Americans that deal
with high costs of prescription drugs. Here is what you
need to know about what the President has done to
(20:57):
lower the price of prescription drugs for all Americans. The
announcement and the action put forth saying American patients will
be first instead of the pharmaceutical companies by Donald Trump
will have an impact for every American. Now, this should
not be a conservative or liberal, or Republican or Democratic issue,
(21:18):
yet Democrats are angry about it. So let me tell
you exactly how this is going to have an impact
on you. First up, the President said that we are
now going to have most Favored nation prescription drug pricing,
saying we are going to pay the lowest price that
there is in the world.
Speaker 2 (21:39):
Here's the President in his own words.
Speaker 4 (21:42):
But it's called most Favored nation. We are going to
pay the lowest price there is in the world. We
will get whoever is paying the lowest price. That's the
price that we're going to get. So remember this, So
We're no longer paying ten times more than another country.
Whoever is paying the lowest price. We will look at
that price and we will say that's the price we're
(22:03):
going to pay most favorite nations.
Speaker 5 (22:07):
That's what it is.
Speaker 4 (22:09):
One breast cancer drug costs Americans over sixteen thousand dollars
per bottle, but the same drug from the same factory,
manufactured by the same company is one sixth that price
in Australia and one tenth that price in Sweden, one
(22:30):
tenth for.
Speaker 5 (22:31):
The identical product.
Speaker 4 (22:34):
A common asthma drug costs almost five hundred dollars here
in America, but costs less than forty dollars in the
United Kingdom. So forty dollars in the United Kingdom, which
is where this gentleman told me he paid a small amount.
Speaker 5 (22:49):
For his shot.
Speaker 4 (22:53):
But think of that, So forty dollars versus five hundred dollars.
Speaker 1 (22:58):
Here, forty compared to five hundred dollars, the difference between
the UK and the US. Now, let me explain more
about this order. The order directs the US Trade Representative
and the Secretary of Commerce to take action to ensure
foreign countries are not engaged in practices that purposely and
(23:18):
unfairly undercut market prices and drive price hikes in the
United States. All what I'm giving you right now is
coming directly from the White House, and want to make
that very clear. Number Two, the order instructs the Administration
to communicate price targets to pharmaceutical manufacturers to establish that America,
(23:38):
the largest purchaser and funder of prescription drugs in the world.
Speaker 2 (23:43):
Gets the best price.
Speaker 1 (23:45):
The Secretary of Health and Human Services is going to
establish a mechanism through which American patients can buy their
drugs directly from manufacturers who sell to Americans at a
quote most favored nation price, bypassing the middlemen, and finally
for the White House. If drug manufacturers fail to offer
(24:07):
most favored nation pricing, the order directs the Secretary of
Health and Human Services to one propose rules and impose
most favored nation pricing, and two take other aggressive measures
to significantly reduce the costs of prescription drugs the American consumer,
and most importantly, in anti competitive practices. Why because the
(24:31):
White House says it's about getting a better deal for
Americans and President Trump once again taking action to keep
pharmaceutical manufacturers from charging Americans high drug prices while giving
steep discounts to other wealthy nations.
Speaker 2 (24:47):
That is something that.
Speaker 1 (24:48):
Doctor Oz talked about the White House with the President
by his side, and here is what he said.
Speaker 9 (24:54):
That means that we are paying in America four times
more than that drug costs other countries. Again, one hundred
percents the baseline's two hundred and eighty nine percent. Above
that baseline, it goes all the way down to where
we're paying fifty percent more than any other country. That's
the range, as was pointed out by President Trump. Half
the time, we're paying three times more than it's paid
(25:14):
in other countries. It doesn't make any sense for the
system that stated President Trump is over and over again indicated,
and Secretary Kennedy has reflected as well. We want innovation,
We want our technology partners doing the best they can
to make the best solutions for drugs to secure as
many people in America and around the world as possible.
By getting our allies to pay a bit more as
(25:35):
they should be and they should have for many years
been doing, will course correct a problem that's gotten out
of hand. And by doing that in a thoughtful, effective way,
we're going to be able to get the pharmaceutical industry hole.
Those jobs will still be here, will still be productive,
will still be curing cancer and a slew of other
ailments that plague humanity. America will still be the leader
in this space. But we're paying the appropriate amount, the
(25:56):
right sized amount for those tasks.
Speaker 1 (25:59):
Now you may ask yourself this question, why is the
president doing this? Well, it's all in the numbers. The
United States has less than five percent of the world's population,
yet funds roughly seventy five percent of global pharmaceutical profits.
Speaker 2 (26:17):
Here's the other thing you may not know.
Speaker 1 (26:19):
Drug manufacturers discount their products to gain access to foreign markets,
and then subsidize those discounts through high prices charged in America.
Speaker 2 (26:29):
In essence, you.
Speaker 1 (26:31):
Are subsidizing drug manufacturer profits and foreign health systems are
getting the big deal, despite drug manufacturers benefiting from generous
research subsidies and enormous healthcare spending by the US government.
Now on his first term, you may not know this,
but President Trump took historic action to keep Medicare and
(26:52):
seniors from paying more for drugs than economically comparable countries,
which the Biden administration rescinded before it could even take effect.
Why because they're owned by Big Pharma. Instead of fixing
this problem, the Biden administration's greatest achievement was to negotiate
(27:13):
prices that were on average seventy eight percent higher than
an eleven comparable countries as part of Biden's efforts to
quote beat medicare in translation, the Democratic Party sold you out,
the Americans who are suffering and desperately need pharmaceutical drugs,
(27:34):
and they sold you out to the highest bidder, the
lobbyists and the companies that came in and said this
is what we need. The President making it clear this
is never going to happen again in the US and
as long as he is present, he is going to
fight for innovation, fight for technology, and make sure that
you are paying less than any other major nation in
(27:58):
the world. Make sure you share this podcast with your
family and friends, put it up on social media wherever
you are, and we appreciate you listening every day.
Speaker 2 (28:06):
We'll see you back here tomorrow.
Host
Ben Ferguson
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