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What we have wrong here, Shannon, is this isn't a trade war. This is balancing our, our economy with countries that have taken advantage of us. There's countries for decades that have got rich over the backs of the workers here in, in America. What's happened is we've lost manufacturing jobs were because of our unfree, uh, unfree, um, unfair trade deals that have left America, went to other countries, building their products and turning it back around and selling it to our economy. The countries need access to our economy because we're the largest and the greatest economy in the world. The problem is it's costing us manufacturing jobs. It is time for someone to stand up. And I applaud president Trump for having a backbone and being the first president to ever stand up and say, hold on a second. It's not about today's economy. It's about the future of America's economy going down the road. We know the trade deficits have spread. They've only got worse year after year after year. And at some point, Someone had to do something about it and President Trump is finally doing that.

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What does the president want? He wants to worry about major things for national security of America. Steel and aluminum tariffs, that's today, right? Autos coming April 2nd. Semiconductors, pharmaceuticals, things that America must have. So you can imagine these are the kind of tariffs we're gonna make sure these things come back to America and are built in America. And then on April 2nd, he does his reciprocal tariffs, which basically say to all the countries in the world, come on, you treat us a certain way. We'll treat you the same way. Let's make it fair. You want 'em high, they'll be high like they are now. You want 'em low, they'll be low, but let's treat each other fairly. And that's where we're going. Pretty basic, pretty straightforward.

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is protecting American industries why can we rely on Canada for energy anyway and that's part of the best part of the problem do you think manufacturing into this country and countries are buckling big corporations are buckling they're talking about coming here because they don't want to be taxed this is going to benefit the American worker American manufacturing and domestic production and it's going to preserve jobs so stop what the tariffs is to leverage that we need to protect no no no no I'm glad he did what he did with Canada because you have enough money to start out the point one this is for this is you look it's gonna float all boats come on Jessica really truth is that this is something that's going to benefit all Americans when we've got more jobs here and we've got all kinds of foreign money coming into this country we saw it in the press conferences a half a trillion dollars like one day they can't wait to come here and said about the tax breaks that I talked about you know I was lifting up right now we're trying to clean up Joe Biden's mess okay two years of four years of a disaster that we've got to clean up he could do what Joe Biden did and just flowed along or what other presidents do he said I'm gonna clean up this mess it's not an easy job I'm gonna take the hit but I'm gonna bring business back and he will in any head

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the United States, which a lot of countries do, including our allies. Our allies, in many cases, are worse than our enemies in this, having to do with trade. And this has been going along. That's why we have a $36 trillion amount of money that we owe. We owe $36 trillion, but that'll come down rapidly. Likewise, provisions will be made for non-monetary tariffs and a non-monetary -- that's where they charge and they do things that aren't -- there's no dollar amount, but they make it impossible for you to do business. They do tests on cars, like dropping a bowling ball on the hood of a car. And if the hood doesn't withstand it, which no hood would, except for an Army tank, then they say, I'm sorry, you can't sell your car into a certain country. That's a non-monetary tariff. So this is in order to take economic advantage. Likewise, the provisions for the non-monetary tariffs and trade bearers that some countries charge -- in most countries, many countries have something to that effect in order to keep our product out of their domain, or if they do not even let the U.S. businesses operate. So in some countries, they just won't let us even operate there. They charge us a lot, but they won't even let us go in. And then we have many of them. And what our Secretary of Commerce standing right behind me, Howard London, what he's going to be doing is he's going to come up with a number that's an equivalent number to that. But in many countries -- not too many, but quite a few -- they don't let us do business. They effectively don't let us do business. So we're going to put a number on that. That is a fair number. We're able to accurately determine the cost of these non-monetary trade barriers, and we'll be able to do that very accurately. It's fair to all. No other country can complain. And in some cases, if a country feels that the United States would be getting too high a tariff, all they have to do is reduce or terminate their tariff against us, in which case we're going to pay the same thing. There is no tariff. So if they have a tariff and then they complain that this is too high, all they have to do is reduce their tariff or not charge it. I think there'll be certain countries -- it's already happened. I believe I heard that the EU today or yesterday lowered the tariff for their cars to 2.5 percent because that's what we charge. And they lowered it from 10 percent, but it was really much higher than 10 percent. But 10 percent to 2.5, that's already happened. That's a big win. We've been after that to happen for many years. But it never happened, but nobody did anything about it. Sitting in this lovely chair. So there are no tariffs. If you manufacture or build your product in the United States. So if you build your product in the United States, there are no tariffs. Nothing. You don't have to worry about it. It doesn't exist. A lot of companies will come back to the United States to build their product, make their product in the United States, because there will be no tariff. Nothing. For many years the U.S. has been treated unfairly by other countries, both friend and foe. This system will immediately bring fairness and prosperity back into the previously complex and unfair system of trade. We had a very unfair system to us. Everybody took advantage of the United States, and we paid a big price for it. America has helped many countries throughout the years at great financial costs. It is now time that these countries remember what we've done for them and treat us fairly. We want a level playing field for all American workers. We want a level playing field for the United States of America. I've instructed my Secretary of State, my Secretary of Commerce, Secretary of the Treasury and the United States Trade Representative to do all the necessary work to deliver reciprocity. In other words, reciprocal reciprocity to our system of trade. So we're going to have a reciprocal tax. Whatever they charge, we charge. If they don't let us in, we're going to determine a value for that. But overall, it's going to be a very simple system. Whatever they charge, we charge. So nobody can complain. I don't think anybody can complain. And I'm going to sign this. And the numbers are going to be very fair, but staggering. They're going to be large, but very fair. And this should have been done years ago. And I did it in a different form with tariffs and taxes on China. We took in hundreds of billions of dollars. No other president, as you know, ever took in 10 cents. But that was a few countries. That wasn't what we're doing now. Now we're doing it with every country. So this is every country. And essentially when they treat us fairly, we treat them fairly. It's a very fair way of doing it.

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To bring jobs, factories and wealth racing back to Pennsylvania, we will have a 15% made-in-America corporate tax rate cutting the tax from 21 to 15, and I got it down to 21 from 39. But there is a but, but only for those who make their product in America, made in America. One of the biggest guys, highly sophisticated guy, wealthy guy on Wall Street called me up. He said, "Who the hell gave you that idea? It's so simple, right? You're going to get that additional tax cut, but you have to have your product made in America. Isn't that great?" They said, "Who gave you?" That's like the paper clip. Somebody came up with the idea of a paper clip many years ago, and people saw it. They said, "Why didn't I think of that? But we're going to give a tax cut. You make your product here, because that means jobs, it means a lot of things, it means a lot of great things, and we're going to stop Mexico and China and all these countries from hurting this country, because they're hurting it, and they're killing the automobile industry. You're not going to have any cars manufactured here. If we win, this country will become the automobile manufacturing place. We will bring plants back at levels that haven't been seen for 50 years in this country." Right now, the Chinese are building big factories, auto plants in Mexico. They think they're going to make cars and send them over to our border and put everybody in Detroit out of business, put everybody in South Carolina out of business. That's not going to happen, because I'll put 100 or 200 percent tariff. We don't want their cars. We want to make our cars here, and that includes in Pennsylvania. And for those who don't make their product in America, they will be forced to pay a rather stiff tariff for the privilege of competing with our cherished companies that we're going to take care of, and for the privilege of stealing our jobs, our treasure, and our wealth. They're going to do that. That's okay, but they're going to pay something for it, and it's going to be substantial. And we will take in hundreds of billions of dollars in tariffs. And let me tell you, for 30 years, for 25 years, China didn't pay 10 cents to this country. And when I was president, they paid hundreds of billions of dollars, hundreds of billions. Not 10 cents. They literally never went under the guise, "We are a developing nation." Well, we're a developing nation, too. Our nation's gone like this. We've got to get it back up, and we're going to get it back up fast. But American citizens will use all that money. We're going to pay off debt. We're going to reduce your interest rates. We're going to -- we are going to, by the way, do things. When I was president, the interest rate was 2 percent. Now it's 10 percent. But it's not really 10 percent, because you can't get any money at 10 percent. The American dream for young people is gone. They can't buy a house. You can't get any money. So it's not 10 percent. It's 11, 12, 13, 14, 15 percent. It was 2 percent. Five years ago, we had 2 percent, and now we have not 10, probably 14 or 15 before you get it. But that puts you out of business. Tariffs against us. Remember this. One thing is going to happen or another thing. Number one, they're going to drop all tariffs against us. You know, we have countries that charge us 150 and 200 percent, and we charge them nothing. And I started it, and it was good. We were making a fortune, and then these idiots came in, and they changed it. But we're going back to it. It's a pro-American. It's America first policy, if you don't mind. America first. We have America first.

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Joe Biden claims to support American manufacturing, but in reality he's pushing the same pro-China globalist agenda that ripped the industrial heart out of our country. It ripped us apart. Biden and the globalists support raising taxes on American production. They support more crippling regulations killing American jobs. They support skyrocketing domestic energy costs, and they support massive anti-American multinational agreements that send our wealth and factories overseas. Very simply, the Biden agenda taxes America to build up China. China is the big beneficiary. We cannot let that happen. And just a couple of years ago it wasn't happening. China paid to the United States hundreds of billions of dollars and no other president got 10 cents, legitimately 10 cents from China. My agenda will tax China to build up America. The heart of my vision is a sweeping pro-American overhaul of our tax and trade policy to move from the Biden system that punishes domestic producers and rewards outsourcers to a system that rewards domestic production and taxes foreign companies and those who export American jobs. They will be rewarded and rewarded greatly, and our country will benefit. To achieve this goal, we will phase in a system of universal baseline tariffs on most foreign products. On top of this, higher tariffs will increase incrementally depending on how much individual foreign countries devalue their currency. They devalue their currency to take advantage of the United States, and they subsidize their industries or otherwise engage in trade cheating and abuse. And they do it now like never before, and we had it largely stopped, and it was going to be stopped completely within less than a year. As tariffs on foreign producers go up, taxes on American producers will go down and go down very substantially, and that means a lot of jobs coming in. Not only will this system end our gaping trade deficits, and they are massive right now, and bring back millions of American jobs, it will also bring trillions and trillions of dollars pouring into the United States Treasury from foreign countries and allow us to invest that money in American workers, American families, and American communities. This plan will be the linchpin of a new strategic national manufacturing initiative that builds in my historic success in ending NAFTA, which was a tremendous thing, a tremendous achievement. Nobody thought it could be done, and we did USMCA, US, Mexico, Canada, and it was an incredible thing. But we're also going to end other unfair trade deals, and we'll end them quickly. In addition, as a matter of both economic and national security, I will implement a bold series of reforms to completely eliminate dependence on China in all critical areas. We will revoke China's most favored nation trade status and adopt a four-year plan to phase out all Chinese imports of essential goods, everything from electronics to steel to pharmaceuticals. This will include strong protections to ensure China cannot circumvent restrictions by passing goods through conduit countries, countries that don't make a product, but all of a sudden they're selling a lot of product. It comes right through China, right out of China, and right into our country. We will also adopt new rules to stop US companies from pouring investments into China and to stop China from buying up America, allowing all of those investments that clearly serve American interests. We're not going to allow bad things to happen to our country anymore, and we will eliminate federal contracts for any company that outsources to China. Biden will never get the job done. He is weak on China because the corrupt Biden family has received millions and millions of dollars from entities tied to the Chinese Communist Party. Everybody knows that. They try and hide it, and the fake news doesn't want to talk about it. Biden's pro-China economic program puts America last, and it's killing our country. My cutting-edge trade agenda will revitalize our economy by once again putting America first. And by the way, we'll get along very well with China. And you know what the reason is? They'll respect us again like they did just two years ago. We will quickly become a manufacturing powerhouse like the world has never seen before. Thank you very much.

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