Foreign scavengers have torn apart our once beautiful American dream. We had an American dream that you don't hear so much about. Our country and its taxpayers have been ripped off for more than fifty years.
But it is not going to happen anymore. It's not going to happen.
This is a forty seven Morning Update special edition with Ben Ferguson.
Good Thursday morning. Ben Ferguson with you. It's signs to have you on the forty seven Morning Update, and this morning will be a special edition dealing with all things tariffs and the President calling it Liberation Day. The moral of the story with Donald Trump was this, they charged us, so we're going to charge them. I'll explain exactly how the tariffs work, what it means for you, and how long this could last. It's the forty seven Morning Update and it starts right now.
Story number one.
President Donald Trump on Wednesday revealed they charted detailing the reciprocal tariffs that he will impose on other countries, wanting to make it very clear to the American people that these countries are charging us first, so now we are going to charge them back. China sixty seven percent tariffs charged to the US, including currency manipulation and trade barriers. Was a perfect example of what Donald Trump was talking about, and that's exactly why he announced his trade policies on
what he has deemed Liberation Day. Here's the President in his own words at the White House.
We have some very very good news today, and a lot of good things are happening for our country. Please sit down, my fellow Americans. This is liberation Day waiting for a long time. April second, twenty twenty five will forever be remembered as today American industry was reborn, the day America's destiny was reclaimed, and the day that we began.
To make America wealthy again, going to make it wealthy, good, and wealthy.
For decades, our country has been looted, pillage, raped, and plundered by nations near and far, both friend and foe alike. American steel workers, auto workers, farmers, and skilled craftsmen. We have a lot of them here with us today. They really suffered gravely. They watched in anguish as foreign leaders have stolen our jobs. Foreign cheaters have ransacked our factories, and foreign scavengers have torn apart our once beautiful American dream. We had an American dream that you don't hear so
much about. You did four years ago and you are now, But you know too often, and for many years and decades even you didn't hear too much about. Our country and its taxpayers have been ripped off for more than fifty years.
But it is not going to happen anymore. It's not going to happen.
The President also making it clear he knows how the media is going to play this doom and gloom. But the reality is there's quite a few important groups in this country that are backing the President's plan, and that is exactly why the President made it clear to the
world that the day of economic surrender are over. Who is behind the President well, The Coalition for a Prosperous America chairman put out a statement saying, this a permanent, universal baseline tariff, resets the global trade environment and finally addresses the destructive legacy of decades of misguided free trade policies. President Trump's decision to implement a baseline tariff is a game changing shift that prioritizes American manufacturing, protects working class jobs,
and safeguards our economic security from adversaries like China. This is exactly the type of bold action America needs to restore its industrial leadership. Today's actions will deliver lasting benefits the US economy and working class Americans, submitting President Trump's legacy as the one that ushered in a new golden
age of American industrialization and prosperity. The National Cattleman's Beef Association put out a statement as well, saying quote, for too long, America's family farmers and ranchers have been mistreated by certain trading partners around the world. President Trump is taking action to address numerous trade barriers that prevent consumers
overseas from enjoying high quality, wholesome American beef. The NCBA will continue engaging with the White House to ensure fair treatment for America's cattle producers around the world and optimize opportunities for exports abroad. The Steel Manufacturers Association also praising Trump, and again, you will not be hearing these statements from the media, and that's why I'm giving them to you
right now. The Steel Manufacturers said this, President Trump is a champion of the domestic steel industry, and his America First trade policy is designed to fight the unfair trade that has harmed American workers and weakened manufacturing in the United States. The recently reinvigorated two three two steel tariffs have already started creating American jobs and bolstering the domestic
steel industry. President Trump is working to turn America into a manufacturing powerhouse, and the steel tariffs are driving that movement. The Alliance for American Manufacturing also putting out a statement talking about this is a game changer for American workers, saying today's trade action prioritizes domestic manufacturers and the American workers. These hard working men and women have seen unfair trade cut the ground from beneath their feet for decades. They
deserve a fighting chance. Our workers can out compete anyone in the world, but they need a level playing field to do it. This trade reset is a necessary step in the right direction. The National Electrical Contractors Association CEO also saying that President Trump has consistently prioritized policies that put the electrical industry as a priority, and we recognize
as commitment to strengthening our nation's economy. As these new tariffs take effect, we look forward to working with the administration to ensure that electrical contractors in the entire electrical industry can continue powering America efficiently while navigating potential costs and supply chain challenges. These are just some of the
major industries that are backing the president's move. Now, of course, the media is going to tell you this is a disaster, that it's going to hurt our economy, that it's starting a trade war. President of the United States of America making it very clear I am here to stand up for the American worker.
In a few moments, I will sign a historic executive order instituting reciprocal tariffs on countries throughout the world. Reciprocal. That means they do it to us and we do it to them. Very simple. Can't get any simpler than that. This is one of the most important days, in my opinion, in American history. It's our declaration of economic independence. For years, hard working American citizens were forced to sit on the sidelines as other nations got rich and powerful, much of
it at our expense. But now it's our turn to prosper and in so doing, use trillions and trillions of dollars to reduce our taxes and pay down our national debt and It'll all happen very quickly. With today's action, we are finally going to be able to make America great again, greater than ever before.
President Trump wasn't the only one excited about what this can do for the country. Speaker Mike Johnson saying President Trump is sending a clear message with Liberation Day that America will not be exploited by un fair trade practices anymore. These tariffs restore fair and reciprocal trade and level the playing field for American workers and innovators. The President understands
that free trade only works when it's fair. Governor Jeff Landry of Louisiana, a very important state when it comes to shipping, said this it's pro jobs, pro business, and pro America. Senator Jim Banks saying the decision by President Trump today to impose reciprocal tariffs will be so good for Indiana. Those are the manufacturing jobs that President Trump is bringing back from overseas. Senator Bill Cassidy saying the President's trade agenda can pave the way for stronger trade deals,
fairer rules, and real results. I'm excited to work with President Trump to make it happen. Louisiana workers and families deserve it nothing less. And the President wasn't done there. He also had this to say about the reciprocal tariffs and why it is working the way that he is doing it.
The tariffs will be not a full reciprocal I could have done that, yes, but it would have been tough for a lot of countries.
We didn't want to do that. I'd like to see the chart. If you have it, could you bring it up, Howard? This is our great Secretary of Commerce, Howard Lutnick. Thanks all.
So if you look at that China first row, China, sixty seven percent, that's tariff charged to the USA, including currency manipulation and trade barriers. So sixty seven percent. I think you can, for the most part see it. Those with good eyes with bad eyes, we didn't want to bring it's very windy out here. We didn't want to bring out the big charts because it had no chance of standing. Fortunately, we came armed with a little smaller charge.
So sixty seven percent. So we're going to be charging a discounted reciprocal tariff of thirty four percent.
I think, in other.
Words, they charge us, we charge them, we charge them less. So how can anybody be upset. They will be because we never charge anybody anything. But now we're gonna charge European Union. They're very tough, very very tough traders. Uh you know, you think of European Union, very friendly. They rip us off. It's so sad to see, it's so pathetic. Thirty nine percent. We're gonna charge them twenty percent. So we're charging them potentially have Vietnam great negotiators, great people.
They like me. I like them.
The problem is they charge us ninety percent. We're gonna charge them forty six percent tariff. Taiwan where they make they took all of our computer chips and semiconductors.
We used to be the king right with everything. We had all of it. Now we have almost none of it.
Except the biggest company is coming in they're gonna have We're gonna end up with almost forty percent. Leez Elden's working to get their approvals and it's an amazing company, mister way of one of the great companies of the world. Actually, they're coming in from Taiwan and they're gonna build one of the biggest plants in the world, maybe the biggest for that, but sixty four percent we're going to charge them thirty two percent. Japan very very tough, great people.
And again I don't blame the people for doing it. It's I think they're very smart to do it. I blame the people that sat right in that Oval office, right over there, right behind the resolute desk, whichever deak they chose. Japan forty six percent, they would charge us forty six percent, and much higher for certain items like cars, you know, little items like cars, forty six percent. We're charging them twenty four percent. India very very tough, very
very tough. The Prime Minister just left. He's a great friend of mine. But I said, you're a friend of mine, but you're not treating us right. They charged us fifty two percent. You have didn't stand. We charge them almost nothing for years and years and decades, And it was only seven years ago when I came in.
We started with China and charged you.
We took in hundreds of billions of dollars from China in tariffs, and they understood. Honestly, Presidency understood. He said, look, I understand, and the other countries and they all understand.
We're going to have to go through a little tough love.
Maybe but they all understand they're ripping us off, and they understood it.
So the big takeaway from the President of the United States of America is this, these are countries that are doing this to us first and have been doing it at a much higher rate. We are not going back with the same number that they're putting on our goods and services. And this is a time for us to have free and fair trade where America is not being taken advantage of. There is no doubt that the media is going to use this moment to attack the president.
But remember the people that I told you about earlier in their statements, real American workers organizations saying it is long overdue and this is going to be good for America long term. That is exactly why the President's calling it Liberation Day and why so many American workers are celebrating this big win.
Thank you for listening to this forty seven Morning Update Special edition with Ben Ferguson. Please make sure you hit subscribe wherever you're listening to this podcast right now and for more in depth news, also subscribe to the Ben Ferguson podcast and we will see you back here. Tomork