00:00You announced earlier today, sir, that it's 25 percent for any country that does business
00:04in Venezuela.
00:05That's right.
00:06If they buy their oil from Venezuela, they have to pay a 25 percent tariff to do business
00:11with the United States.
00:12Is that on top of existing tariffs?
00:13So, for example, China bought a lot of oil.
00:14Yes, that would be on top of existing.
00:15That's 45 percent tariffs on China next week.
00:16That's on top of existing tariffs, yes.
00:17And so, also, next week, April 2nd, as you said, Liberation Day.
00:18Is that going to be sector tariffs as well as reciprocal tariffs?
00:19It's going to be a lot of tariffs.
00:20It's going to be a lot of tariffs.
00:21It's going to be a lot of tariffs.
00:22It's going to be a lot of tariffs.
00:23It's going to be a lot of tariffs.
00:25a lot of tariffs.
00:30Yeah.
00:31It's going to be everything.
00:32But not all tariffs are included that day.
00:33For instance, we're doing some — as you know, we have already done steel and aluminum.
00:39And that's at a 25 percent level.
00:41And we are going to be doing automobiles, which you've known about for a long time.
00:44We will be announcing that fairly soon, over the next few days, probably.
00:49And then April 2nd comes.
00:51That'll be reciprocal tariffs.
00:53But we may take less than what they're charging, because they've charged us so much, I don't
00:57think they could take it.
00:58In other words, they've charged us so much that I'm embarrassed to charge them what they've
01:03charged us.
01:04But it'll be substantial.
01:06And you'll be hearing about that on April 2nd.
01:08And it will be Liberation Day, because we'll be taking in large amounts of money for our
01:13country.
01:14And that's lower taxes and all of the things that are good.
01:17And jobs.
01:18A lot of jobs.
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