"They Charge us, We Charge them" Trump's Liberation Day is Official

Summary

Detailed Summary of "They Charge us, We Charge them" - Trump's Liberation Day is Official

Podcast: The 47 Morning Update with Ben Ferguson
Host: Ben Ferguson
Episode Title: "They Charge us, We Charge them" Trump's Liberation Day is Official
Release Date: April 3, 2025

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Introduction

In this special edition of The 47 Morning Update, host Ben Ferguson explores President Donald Trump's landmark declaration of "Liberation Day." The episode delves into the administration's newly announced reciprocal tariffs, their intended impact on the American economy, and the widespread support from various industry leaders and political figures. Ferguson provides listeners with an in-depth analysis of how these tariffs aim to rectify decades of perceived trade injustices and rejuvenate American manufacturing.

Trump's Liberation Day Announcement

The episode kicks off with Ben Ferguson introducing the significance of "Liberation Day," a pivotal moment where President Trump unveiled his administration's trade policies. Ferguson emphasizes the President's core message:

"They charge us, so we're going to charge them." ([00:54])

This statement underscores the retaliatory nature of the tariffs, positioning them as a direct response to previous trade impositions against the United States.

President Trump's Speech

At [02:59], listeners hear a segment of President Trump's speech from the White House:

"April 2, 2025, will forever be remembered as the day American industry was reborn, the day America's destiny was reclaimed, and the day that we began to make America wealthy again."

Trump elaborates on the historical context, highlighting how foreign nations have, in his view, exploited American resources and labor:

"For decades, our country has been looted, pillaged, raped and plundered by nations near and far... But it is not going to happen anymore." ([02:59])

He frames the tariffs as a means to restore the American Dream, ensuring that American workers and industries are no longer sidelined in the global market.

Details of Reciprocal Tariffs

Ferguson provides a comprehensive breakdown of the reciprocal tariffs introduced by the administration. These tariffs are designed to counteract the rates previously imposed on U.S. goods by other nations. Key details include:

• China: Previously charged the U.S. 67% → U.S. will charge China 34%
• European Union: Previously charged 46% → U.S. will charge 24%
• Vietnam: Previously charged 90% → U.S. will charge 46%
• Taiwan: Previously charged 64% → U.S. will charge 32%
• Japan: Previously charged 46% → U.S. will charge 24%
• India: Previously charged 52% → U.S. will charge 26%

In Trump's words ([10:28]):

"They charge us, we charge them less. So how can anybody be upset? They will be, because we never charged anybody anything. But now we're going to charge the European Union, Vietnam, Taiwan, Japan, India..."

Trump justifies the reduced rates as a strategic move to avoid escalating into full-blown trade wars while still addressing unfair trade practices.

Reactions from Industry Leaders and Organizations

A significant portion of the episode focuses on the overwhelming support from various industry groups and political figures. Ferguson highlights several key endorsements:

Coalition for a Prosperous America

The chairman praises the tariffs as a necessary corrective measure:

"A permanent universal baseline tariff resets the global trade environment and finally addresses the destructive legacy of decades of misguided free trade policies." ([04:24])

He asserts that the tariffs prioritize American manufacturing and protect working-class jobs, marking a "game-changing shift" towards economic security.

National Cattlemen's Beef Association (NCBA)

The NCBA commends the administration's efforts to eliminate trade barriers:

"President Trump is taking action to address numerous trade barriers that prevent consumers overseas from enjoying high quality, wholesome American beef." ([04:24])

They express commitment to collaborating with the White House to ensure fair treatment for American cattle producers and enhance export opportunities.

Steel Manufacturers Association

Ferguson shares the association's endorsement of the tariffs:

"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." ([04:24])

They highlight the reinvigorated 232 steel tariffs as a catalyst for job creation and strengthening the domestic steel sector.

Alliance for American Manufacturing

The alliance views the tariffs as essential for leveling the playing field:

"Today's trade action prioritizes domestic manufacturers and the American workers. These hardworking men and women have seen unfair trade cut the ground from beneath their feet for decades. They deserve a fighting chance." ([04:24])

They consider the trade reset a necessary step towards empowering American workers to compete globally.

National Electrical Contractors Association

Their CEO acknowledges the administration's commitment:

"President Trump has consistently prioritized policies that put the electrical industry as a priority and we recognize his commitment to strengthening our nation's economy." ([04:24])

They anticipate collaboration to navigate potential costs and supply chain challenges, ensuring the electrical industry continues to thrive.

Political Support

Ferguson highlights endorsements from key politicians:

• Speaker Mike Johnson:

  "President Trump is sending a clear message with Liberation Day that America will not be exploited by unfair trade practices anymore." ([09:18])

• Governor Jeff Landry of Louisiana:

  "It's pro jobs, pro business, and pro America."

• Senator Jim Banks:

  "Those are the manufacturing jobs that President Trump is bringing back from overseas."

• Senator Bill Cassidy:

  "The president's trade agenda can pave the way for stronger trade deals, fairer rules, and real results." ([09:18])

These endorsements reinforce the administration's narrative that the tariffs will bolster American industries and safeguard jobs.

Media and Public Reactions

Ferguson anticipates negative coverage from mainstream media, expecting narratives that portray the tariffs as harmful and indicative of a trade war. However, he counters this by emphasizing the substantial support from credible American organizations and workers' groups, which reinforce the tariffs' long-term benefits.

At [13:44], Ferguson summarizes:

"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." ([13:44])

Implications for Trade and the American Economy

The implementation of reciprocal tariffs marks a significant shift in U.S. trade policy, moving away from the previously favored free trade agreements. The administration aims to:

• Protect Domestic Industries: By imposing higher tariffs on countries that have historically charged the U.S. higher rates, the administration seeks to protect and revive American manufacturing sectors.

• Restore Job Growth: The tariffs are intended to bring back manufacturing jobs that were outsourced, thereby reducing unemployment and boosting the economy.

• Ensure Fair Trade Practices: By leveling the playing field, the administration aims to prevent other nations from exploiting American markets and workers.

Trump's strategic reduction of tariff rates, as explained in his conversation with Commerce Secretary Howard Lutnick ([10:28]), is intended to balance assertiveness with practicality, avoiding retaliatory escalations while addressing unfair trade practices.

Conclusion

Ben Ferguson wraps up the special edition by reiterating the significance of "Liberation Day" and the reciprocal tariffs' role in reshaping the American economic landscape. He underscores the widespread support from industry leaders and political figures, presenting the tariffs as a long-overdue measure to restore American manufacturing prowess and protect domestic jobs.

"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." ([13:44])

Ferguson encourages listeners to stay informed by subscribing to the podcast for more in-depth analyses and updates on the evolving trade policies.

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This comprehensive summary captures the essence of the episode, detailing President Trump's "Liberation Day" announcement, the specifics of the reciprocal tariffs, the strong support from various industry and political leaders, and the anticipated impact on the American economy. Notable quotes with timestamps provide authenticity and direct insight into the discussions presented by Ben Ferguson.

Transcript

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[Emily Carter]

Something unexpected happened after Jeremy Scott confessed to killing Michelle Schofield in Bone Valley season one.

[Michael Scott]

Every time I hear about my dad is, oh, he's a killer. He's just straight evil.

[Emily Carter]

I was becoming the bridge between Jeremy Scott and the son he'd never known.

[Michael Scott]

At the end of the day, I'm literally a son of a killer.

[Emily Carter]

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[David Thompson]

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 50 years. But. But it is not going to happen anymore. It's not going to Happen.

[Ben Ferguson]

This is a 47 Morning Update Special Edition with Ben Ferguson.

Good Thursday morning, Ben Ferguson with you. It's nice to have you on the 47 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 47 Morning Update and it starts right now.

Story number one.

President Donald Trump on Wednesday revealed a chart 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 67% tariffs charged to the US including currency manipulation and trade barriers, was a perfect example of what Donald Trump was talking about. And that is 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.

[David Thompson]

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 2, 2025, will forever be remembered as the day 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, pillaged, raped and plundered by nations near and far, both friend and foe alike. American steelworkers, 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 don't 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 50 years. But it is not going to happen anymore. It's not going to happen.

[Ben Ferguson]

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 to the US Economy and working class Americans, cementing President Trump's legacy as the one that ushered in a new golden age of American industrialization and prosperity. The National Cattlemen'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 manufacturer 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 2, 32 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 anywhere 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 this. President Trump has consistently prioritized policies that put the electrical industry as a priority and we recognize his 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.

[David Thompson]

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. It 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, hardworking 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 will all happen very quickly. With today's action, we are finally going to be able to make America great again, greater than ever before.

[Ben Ferguson]

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 unfair 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 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.

[David Thompson]

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, Howard. So if you look at that China, first row, China, 67%. That's tariffs charged to the USA, including currency manipulation and trade barriers. So 67%. 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 it's 67%. So we're going to be charging a discounted reciprocal tariff of 34%. 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 charged anybody anything. But now we're going to charge European Union. They're very tough. Very, very tough traders. You know, you think of European Union, very friendly. They rip us off. It's so sad to see. It's so pathetic. 39%. We're going to charge them 20%. So we're charging them essentially half. Vietnam, great negotiators, great people. They like me, I like them. The problem is they charge us 90%. We're going to charge them 46%. Tariff Taiwan, where they make. They took all of our computer chips and semiconductors. We used to be the king, right? We were everything. We had all of it. Now we have almost none of it, except the biggest company is coming in. They're going to have. We're going to end up with almost 40%. Lee Zeldin's working to get their approvals. And it's an amazing company. Mr. Wei, of one of the great companies of the world, actually, they're coming in from Taiwan and they're going to build one of the biggest plants in the world, maybe the biggest for that. But 64%. We're going to charge them 32%. 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 in doing it. I blame the people that sat right in that Oval Office right over there, right behind the Resolute desk or whichever desk they chose. Japan, 46%. They were charged just 46% and much higher for certain items like cars, you know, little items like cars. 46% were charging them 24%. 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 charge us 52%. You have to understand, 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, charged them. We took in hundreds of billions of dollars from China in tariffs. And they understood. Honestly, President Xi 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.

[Ben Ferguson]

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 47 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 tomorrow.

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[Emily Carter]

Something unexpected happened after Jeremy Scott confessed to killing Michelle Schofield in Bone Valley Season one.

[Michael Scott]

Every time I hear about my dad, it's oh, he's a killer. He's just straight evil.

[Emily Carter]

I was becoming the bridge between Jeremy Scott and the son he'd never known.

[Michael Scott]

At the end of the day, I'm literally a son of a killer.

[Emily Carter]

Listen to new episodes of bone Valley Season 2 starting April 9 on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.