Donald Trump vs Ronald Reagan on tariffs - Fascinating!
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Summary
Trump vs Reagan when it comes to tariffs. The difference between Reagan and Trump on tariffs and why free trade is the way to prosperity for all nations. It's not a long video, but I think it's rather educational.
Transcript
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Hi, it's John, and welcome to the channel. It is still March the 14th. It is 1246 p.m.
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I do have my big blue mug of coffee right now. I want to do a quick video here. I think this will
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be rather educational, and I want to play a couple of videos for you. Donald Trump versus Ronald
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Reagan when it comes to tariffs. If you're a Canadian, you know we're dealing with the turmoil
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of Trump tariffs right now. The Europeans are going to be dealing with this as well. The Chinese
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are dealing with this as well, but I thought it'd be rather educational to see the difference
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between Donald Trump and Ronald Reagan, who they called the great communicator. Now, Donald
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Trump has been very one-note on this, the same message over and over and over again, so it's
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nothing you haven't heard recently. But we're going to go back to 1987. Now, a lot of Republicans
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in the United States, a lot of conservatives, see Ronald Reagan as the ideal president. Now,
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whether you agree with that or not is not important for this, but you're going to get a real indication
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of the difference between Donald Trump and what Ronald Reagan believed when it came to
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tariffs. So I hope you enjoy this. It's not a long video, but I think it's rather educational.
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Thanks for watching. If you liked the video, by the way, give it a thumbs up, and please
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subscribe to the channel. We're over 13,000, and I appreciate you being here.
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I know many people from Canada that are good friends of mine, but, you know, the United States
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can't subsidize a country for $200 billion a year. We don't need their cars. We don't
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need their energy. We don't need their lumber. We don't need anything that they get. We do
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it because we want to be helpful, but it comes a point when you just can't do that. You have
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to run your own country. And to be honest with you, Canada only works as a state. We don't
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need anything they have. As a state, it would be one of the great states anyway. This would
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be the most incredible country. Visually, if you look at a map, they drew an artificial
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line right through it between Canada and the U.S., just a straight artificial line. Somebody
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did it a long time ago, many, many decades ago, and makes no sense. It's so perfect as a great
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and cherished state. Keeping, oh, Canada, the national anthem. I love it. I think it's
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great. Keep it. But it'll be for the state, one of our greatest states, maybe our greatest
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state. But why should we subsidize another country for $200 billion? Of course, it's $200 billion
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a year. And again, we don't need their lumber. We don't need their energy. We have more than
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they do. We don't need anything. We don't need the cars. I'd much rather make the cars
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here. And there's not a thing that we need. Now, there'll be a little disruption, but it
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won't be very long. But they need us. We really don't need them.
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Now, that message of free trade is one I conveyed to Canada's leaders a few weeks ago, and it
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was warmly received there. Indeed, throughout the world, there's a growing realization that
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the way to prosperity for all nations is rejecting protectionist legislation and promoting fair
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and free competition. Now, there are sound historical reasons for this. For those of us who lived
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through the Great Depression, the memory of the suffering it caused is deep and searing.
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And today, many economic analysts and historians argue that high-tariff legislation passed back
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in that period, called the Smoot-Hawley Tariff, greatly deepened the Depression and prevented
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economic recovery. You see, at first, when someone says, let's impose tariffs on foreign
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imports, it looks like they're doing the patriotic thing by protecting American products and jobs.
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And sometimes for a short while it works, but only for a short time. What eventually occurs
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is, first, homegrown industries start relying on government protection in the form of high tariffs,
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they stop competing, and stop making the innovative management and technological changes they need
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to succeed in world markets. And then, while all this is going on, something even worse occurs.
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High tariffs inevitably lead to retaliation by foreign countries and the triggering of fierce
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trade wars. The result is more and more tariffs, higher and higher trade barriers, and less and less
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competition. So, soon, because of the prices made artificially high by tariffs that subsidize
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inefficiency and poor management, people stop buying. Then the worst happens. Markets shrink
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and collapse, businesses and industries shut down, and millions of people lose their jobs.
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The memory of all this occurring back in the 30s made me determined when I came to Washington
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to spare the American people the protectionist legislation that destroys prosperity. I'll keep
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you informed on this dangerous legislation because it's just another form of protectionism,
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and I may need your help to stop it. Remember, America's jobs and
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growth are at stake. Until next week, thanks for listening, and God bless you.