4.4 • 15.6K Ratings
🗓️ 7 March 2025
⏱️ 56 minutes
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0:00.0 | As President Trump has said many times, tariff is his favorite word. |
0:14.8 | I would say the reciprocal is probably the second favorite word. |
0:18.3 | And I think we have to be open to the idea. |
0:22.0 | If you want to be a nymphal like Justin Trudeau and say, oh, we're going to do this, |
0:26.4 | then it's going to, chairs who are going to go up. |
0:31.3 | But if you want to sit back, have a discussion with the Commerce Department, |
0:35.7 | USTR, they all have my phone number two. I am happy to have a discussion with the Commerce Department, USTR, they all have my phone number two. |
0:38.9 | I am happy to have a discussion with our foreign counterparts that says that here's what we think |
0:45.5 | you were doing. |
0:46.7 | And the tariffs are the actual easier part. |
0:50.7 | We know India does this on U.S. motorcycles. Germany does this on, or EU does this on |
0:59.4 | American cars. That's a quantitative number. But also, what are non-tariff barriers? Apple cannot sell |
1:07.4 | the new iPhone 16 because of local content laws in Indonesia. |
1:13.5 | Are you manipulating your currency? |
1:16.6 | Are you suppressing the value of that? |
1:18.9 | Are you unfairly subsidizing select industries, either via bank lending or suppressing labor markets and then five something |
1:33.8 | that's come to our attention recently the EU is putting these gigantic fines on our |
1:39.7 | U.S. tech companies and that's a form, that's a non-tariff barrier too. |
1:46.0 | So we're going to look at that and then talk about what could happen on a reciprocal basis. |
1:52.1 | It's going to be Pat, much of that will come out April 2nd, and we will then, it's going |
1:59.3 | to be path dependent based on our trading partners, and there will be a discussion. |
2:04.7 | With Prime Minister Kirstomer and Team UK were in the White House on Thursday, we had a very good discussion about getting going on all of this and more. |
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