00:00India, very, very tough, very, very tough.
00:02They charge us 52 percent.
00:04You have to understand, we charge them almost
00:05nothing for years and years and decades.
00:07Thailand and others are charging much higher
00:11prices, like 60 percent.
00:13India charges 70 percent.
00:15Vietnam charges 75 percent, and others are
00:18even higher than that.
00:20Likewise, until today, the United States has, for
00:23decades, charged a 2.5 tariff.
00:27Think of that.
00:272.5 percent on foreign-made automobiles.
00:32The European Union charges us more than 10 percent
00:36tariffs, and they have 20 percent VATs.
00:39Much, much higher.
00:40India charges 70 percent.
00:42And perhaps worst of all are the non-monetary
00:45restrictions imposed by South Korea, Japan, and
00:48very many other nations.
00:50As a result of these colossal trade barriers,
00:5481 percent of the cars in South Korea are made in
00:57South Korea.
00:58Ninety-four percent of the cars in Japan are made in
01:02Japan.
01:03Toyota sells 1 million foreign-made automobiles
01:06into the United States, and General Motors sells
01:09almost none.
01:11Ford sells very little.
01:12None of our companies are allowed to go into other
01:16countries.
01:17And I say that, friend and foe.
01:19And in many cases, the friend is worse than the
01:21foe, in terms of trade.
01:23India, very, very tough.
01:25Very, very tough.
01:27The Prime Minister just left, and he's a great
01:30friend of mine.
01:30But I said, you're a friend of mine, but you're
01:33not treating us right.
01:34They charge us 52 percent.
01:36You have to understand, we charge them almost
01:38nothing, for years and years and decades.
01:39And it was only seven years ago, when I came in,
01:45we started with China charging.
01:47We took in hundreds of billions of dollars from
01:50China in tariffs.
01:52And they understood, honestly.
01:54President Xi understood.
01:56He said, look, I understand.
01:57And the other countries, and they all understand.
02:00We're going to have to go through a little tough
02:01love, maybe, but they all understand.
02:03They're ripping us off, and they understood it.
02:05Moment.
02:06I think you're going to remember today, it's going
02:08to be a free nation that we're dealing with.
02:10We're going to have a very free and beautiful nation.
02:13It's going to be Liberation Day in
02:15America, and it's going to be a day that, hopefully,
02:18you're going to look back in years to come, and
02:20you're going to say, you know, he was right.
02:22This has turned out to be one of the most important
02:25days in the history of our country.
02:27God bless you and God bless America.
02:29Thank you everybody.
02:30Thank you very much.
02:32Thank you very much.
03:04He's going to give you a little bit of a briefing on what we're signing.
03:11Good afternoon, y'all.
03:13We have two documents prepared for the President's signature today.
03:17One closes what's referred to as the de minimis loophole with respect to imports from the People's Republic of China.
03:26The other is the big one, is the reciprocal tariff executive order that the President just spoke about at length.
03:33This is obviously a huge deal, and it's been an honor to be a part of your team getting this ready for you, sir.
03:38Thank you very much.
03:39Yes, sir.
03:40This is big stuff.
04:05That's a 10.
04:06That's a good one.
04:07Look.
04:08That's a good one.
04:12That's a good one.
04:17Thank you, sir.
04:34Okay, thank you very much.
04:35Thank you very much.
04:36I'm going to hand out these pens now, if I can.
04:39Come on over.
04:40Yeah.
04:41Thank you very much.
04:42Thank you, sir.
04:44Thank you, sir.
04:52I'm going to get the water.
04:54There's the pool.
04:55Okay.
04:57I'm going to get the water.
05:03Thank you, everybody.
05:05Get it done, Mike.
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