00:14When we are finished, take over your government.
00:17It will be yours to take.
00:19This will be probably your only chance for generations.
00:30The last one is not a car.
00:35It's a car.
00:37It's a car.
00:38It's a car.
08:16I say tonight that the hour of your freedom is at hand.
08:19Stay sheltered.
08:21Don't leave your home.
08:22It's very dangerous outside.
08:24Bombs will be dropping everywhere.
08:26When we are finished, take over your government.
08:29It will be yours to take.
08:31This will be probably your only chance for generations.
08:36For many years you have asked for America's help, but you never got it.
08:41No president was willing to do what I am willing to do tonight.
08:45Now you have a president who is giving you what you want.
08:49So let's see how you respond.
08:52America is backing you with overwhelming strength and devastating force.
08:57Now is the time to seize control of your destiny and to unleash the prosperous and glorious future that is
09:04close within your reach.
09:11So the 10% tariff runs out in 150 days on July 24th.
09:16In the meantime, the Trump administration will be launching investigations into other countries' unfair behavior and also presumably whether certain
09:24classes of imports affect national security.
09:27Are there limits on how many of these the Trump administration can do at once?
09:32I mean, there's no legal limit.
09:33I mean, there's a human resources limit that they only have so much staff.
09:38But, you know, by the way, there are a number of outstanding investigations that they've not yet completed.
09:43So my guess is they'll complete those and they will launch and potentially complete others.
09:48So, you know, there is no particular limit.
09:52And I think when I was USTR, I'd probably prioritize what the biggest low hanging fruit is and where the
09:58biggest problems are to focus on.
09:59My guess is they will likely do the same.
10:02You know, one big question is how do they deal with China during this period when there is likely to
10:07be four summit meetings between President Xi and President Trump over the course of the year?
10:13And he's now in the position or the administration is now in the position of having to take discrete decisions
10:18potentially to raise tariffs to get China back to where it was before.
10:22Do they do that or do they just let China enjoy the slightly lower tariffs between now and the end
10:28of the 150 days while they sort things out beyond that?
10:31If you were USTR, what would you be wanting to do?
10:36Well, you know, I think launching a series of 301 investigations where it's called for, where there's been unfair trade
10:44practices.
10:45That makes sense under any administration and at any time.
10:48232, the Section 232, which is around national security in the past has been used very narrowly.
10:54This administration has significantly broadened it.
10:56It has the ability to launch these 232 investigations across any number of sectors.
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