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- [00:00]
Host/Commentator
Japan is absolutely furious at Donald Trump and his entire regime. Donald Trump has been attacking Japan and multiple statements recently. And Donald Trump has trying to like, like toy with Japan. He's like, we're going to raise the tariffs to 35% or even more. We're going to send them a letter. Like very, very degrading stuff he's saying about Japan. So now the Prime Minister of Japan, Prime Minister of Sheba is out with a statement saying we will not easily concede in trade negotiations with America. And Prime Minister Rashiba makes it clear, look, we're like your biggest trading partner. We employ nearly a million Americans. What the heck are you doing? We're going to stand our ground and not just give in because you're giving us arbitrary deadlines. Here's what Prime Minister Ashiba of Japan just recently said. Let's play this clip.
- [00:56]
Japanese Official/Minister
I believe we must protect our national interests at all costs. Various countries trade with America. But I must point out that Japan is the world's largest investor in America and in the United States. Various countries are making investments, correcting employment. That's different from other countries. The basis is investment rather than tariffs. And we will continue to protect our national interests. If the number of cars we can sell to America decreases at that time, then expanding domestic demand and export destination will protect Japanese industries while also creating jobs in America. We will do both. It is a question of whether rice production has decreased too much. Another point is that items like rice have low price elasticity. So if the supply decreases even a little, prices will skyrocket. These products have such characteristics. Therefore, while keeping exports in mind, as I mentioned in a meeting yesterday, we will make a shift towards increasing rice production.
- [02:04]
Host/Commentator
Now, over the past week, as I noted at the outset of this video, Donald Trump has been attacking Japan over and over again. Despite Donald Trump being the one engaging in bad faith negotiation tactics. Donald Trump lying about trade issues between the United States and Japan. So here's what Donald Trump says about Japan when he was on Air Force One over the past few days. Let's play this clip.
- [02:30]
Donald Trump
But they and others are so spoiled from having ripped us off for 30, 40 years that it's really hard for them to make a deal. You know, it's very hard. As an example with Japan, they won't take rice, and yet they desperately need rice. You know that. But they won't take rice. They won't take other products that we have. But think of it, they need rice so badly, but they won't take rice. I think that was an easy one. Or the cars, as you know, they send out millions. We didn't give them one car in 10 years. They won't take any cars, but they'll sell millions. So we tell them, sorry, you can't do that. And we have a great relationship, great reliance, and really a great sort of a partnership in a way. But on trade, they've been very unfair. And those days are gone. So what I'm going to do is I'll write them. Let us say we thank you very much and we know you can't do the kind of things that we need. And therefore you pay a 30%, 35% or whatever the number is that we determine because we also have a very big trade deficit with Japan, as you know, and it's very unfair to the American people. So they maybe will be happy. They maybe won't be happy. But some countries we won't even allow to trade. But for the most part, we're going to determine a number, just very simply write them a nice letter, probably one page or a page and a half at the most. And it's going to be essentially, congratulations, it's going to be an honor to allow you to go and do business in the United States of America, because it really is an honor to be able to do that. But we never viewed it that way in this country. And you saw we took in 129 million in tariffs already. We haven't even started. No inflation. Our country's strong.
- [04:23]
Host/Commentator
And also Donald Trump referred to the prime minister of Japan as Mr. Japan. Here's when he said that. Here, let's play this clip.
- [04:33]
Donald Trump
And then I helped China. I helped China. So reducing it. We still don't know. We don't have the clarity on what you're going to do with these expiration of these pauses. July 9th. No, I think I just thought I just said it.
- [04:45]
You ready?
- [04:46]
You're going to send the letters. I'm going to send letters. That's the end of the trade deal. I could send one to Japan. Dear Mr. Japan, here's the story. You're going to pay a 25% tariff on your cars. You know, so we give Japan no cars. They won't take our cars.
- [05:03]
Host/Commentator
Here's what Donald Trump posted on June 30 on his social media platform. He goes to show people how spoiled countries have become with respect to the United States of America. And I have great respect for Japan. They won't take our rice, and yet they have a massive rice shortage. In other words, we'll just be sending them A letter. And we love having them as a trading partner for many years to come. This is from the Japan Times. As trade deadline approaches, Japan must draw deadlines or must draw lines, rather as the deadline approaches. And one of this thing this article talks about from the Japan Times is an agreement is difficult when one side doesn't understand the facts. In this case, the Trump regime that just lies about things. The charge that Japan imports no US Rice is false. As Agriculture Minister Shinjiro Kazumi explained, rice imports from abroad, including the U.S. had increased 120 times from a year earlier. If a Japanese consumer don't buy US Automobiles, it isn't because of tariffs. This country imposes no levy on imported passenger cars, but because American automakers don't build vehicles that Japanese want. That's why they're not being bought in Japan. Kozumi was right to call Trump's comments an obvious misunderstanding of the facts, or many people would say a lie. The article goes on to say if Trump believed that a Sheba would readily submit to his demands, he was mistaken. That error is understandable. The US Is central to Japan's economy and critical to its security, but the leverage that affords the US President is limited. Growing numbers of Japanese voters oppose gross concessions. Take a look at these stats from the polls In Japan right now, one poll shows more than half of voters believe Japan should not make a deal, even if it hurts the bilateral relationship. So about half or more of the people in Japan say, we're okay, feeling the pain, don't do a deal with Trump. Only 15% of the Japanese people agree to concessions to avoid additional tariffs. Only 15% say make concessions. 85% of the people in Japan say zero concessions. It goes on to say this article, most worrisome now is a growing sense among the Japanese public that the US Is no longer a reliable partner or trading partner. After all, in 2019, Trump and Abe released a joint statement after signing a trade pact. So Trump in Japan did a trade pact in 2019 that said, quote, while faithfully implementing these agreements, both nations will refrain from taking measures against the spirit of these agreements and the joint statement. Yet here we are again. American credibility is also diminished by constant calls for evermore defense spending. First to 2% of gross domestic product, then 3% and now 5%. It's not surprising then that another recent poll showed showed only 22% either greatly or somewhat trust the US while 68% somewhat or entirely distrust the United States. And so right now in Japan, it's almost like more people trust China than trust the United States of America. And one thing that's happening in Japanese politics as well is that on July 20, there is an upper house elections. And Prime Minister Sheba, as this article points out, cannot afford to make concessions. You saw the polling right there before July 20, before these upper house elections, because his party is right now expected to lose a lot of seats based on the view that he's not being strong enough with Trump and how the United States has tried to exploit Japan. So the impact that we're seeing in Japan is very similar to what we've seen in Canada, what we saw in Australia and some other places in the world where Donald Trump is basically causing the political party that resists him the most to be able to win elections. Um, so over this past weekend, Donald Trump was asked about the tariff rates and he was asked, do the tariff rates change at all on July 9th or do they change on August 1st? And Donald Trump, like in this moment where he just looks so cognitively adult, doesn't even know what the reporter's even asking him. So just think about yourself if you're in Japan shoes right here. How do you do a deal with someone like this? Here, play this clip.
- [10:02]
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- [12:01]
Reporter
Mr. President, do the tariff rates change at all on July 9th or do they change on August 1st?
- [12:07]
Donald Trump
What are you talking about?
- [12:08]
Reporter
Tariff rates, do they change on July 9th or August 1st?
- [12:12]
Donald Trump
They're going to be tariffs. The tariffs are going to be the tariffs. I think we'll have most countries done by July 9th. Yeah, either a letter or a deal.
- [12:22]
Advisor/Official
But they go into effect on August 1st. Tariffs go into effect August 1st, but the President is setting the rates and the deals right now.
- [12:32]
Host/Commentator
And then you have Howard Nutlik, Donald Trump's commerce Secretary, and his description of what's going on is the president is right and he's in the midst of discussing all sorts of deals with all sorts of countries. What are you even talking about here? Play this clip.
- [12:47]
Donald Trump
Just a horrible thing, but no, I wouldn't say that. No.
- [12:52]
Reporter
Are you expecting any deals to be signed this week and what countries are closest to that?
- [12:57]
Advisor/Official
Well, the president is right in the midst of discussing all sorts of deals with all sorts of countries. And the gentleman to my right is going to decide and I'm going to be with him when he makes that decision.
- [13:09]
Host/Commentator
Now here is Dana Bash and Treasury Secretary Scott Bess. And Dana Batch says you say that Donald Trump's a good deal maker and he promised 90 deals in 90 days, but he hasn't done really any deals at all. And I guess you claim he did a deal with Vietnam, but that's not really a deal. It was like a framework and Trump just got a Trump resort and Ho Chi Minh City. Same thing with UK that's not like really a trade deal. And then Trump caved to China from 145% tariffs to either 30 or 55% tariffs, depending on how they were calculated. And Treasury Secretary Scott Besant is like, we never promised 90 deals in 90 days. And lots of countries just don't even call us.
- [13:50]
Japanese Official/Minister
Huh?
- [13:51]
Host/Commentator
You did. You literally said 90 deals in 90 days. Here, play this clip.
- [13:56]
Dana Bash
When you talk about these letters and you talk about kind of the 90 deals in 90 days, or at least the president did back In April, so far we've seen three. And they're not concrete deals the way that we're used to seeing trade deals, their frameworks. The President has a reputation, self described dealmaker. So why haven't we seen the kind of deals that he promised in the last 90 days?
- [14:23]
Scott Bess
Again, he didn't prompt promise this. And when we send out the hundred letters to these countries that will set their tariff rate. So we're going to have a hundred done in the next few days.
- [14:35]
Dana Bash
And that's not a deal, that's a threat.
- [14:38]
Scott Bess
No, that's the level that, that's the deal. If you want to trade with the United States, this is.
- [14:44]
Dana Bash
But that's not a negotiation, that's just a.
- [14:46]
Scott Bess
Well, many of these countries, many of these countries never even contacted us. So that's the thing about being the deficit country. Dana.
- [14:55]
Host/Commentator
Now, I've showed you this clip before, but it's worth noting as well. This is a opposition leader from Japan's House of Representatives. And I think this is one of this was from a few months ago. And you'll see how it was right after liquidation day and you'll see how this Japanese opposition representative, how he messages this. And I think it's, it's spot on. It's like you can't do deals with criminals, you can't do deals with extortionists. Here, play this clip.
- [15:27]
Japanese Opposition Leader
The shit the United States is saying is completely unreasonable. The logic is all over the place and there's no consistency. However, when Japan negotiates regarding what they're saying, well, to put it clearly, it's close to extortion by juvenile delinquents. If Japan gives in and follows their unreasonable demand, saying it's negotiation or ordeal, it will set a bad precedent and create a negative example. If the extorter gains money once, it's certain that they will extort again. The formula itself is a complete mess. I wasn't great at math, but if that showed up in a math exam, it would definitely score zero. That's why although Minister Akazawa is serious and capable, there is also concern about whether a serious person can handle it. Since they are not reasonable, they won't listen to reasonable things. Although I said every option, you absolutely must not provide information to an unreasonable opponent. If you get concessions that way, it will set a bad example. Anyway, please do not give in today. Extortion from the US Though it's really bad to say, but this is extortion. If we listen to this, it will really become a bad example.
- [16:47]
Host/Commentator
And again, just to show you that everything that Donald Trump says is a lie. Here was Donald Trump's speech from a few months back at the University of Alabama, which, by the way, in future speeches, Trump believed he was speaking at the Ohio State University. That's how cognitively screwed up he is. Um, and here he claims that the reason that the US can't sell cars in Japan is because they're tariffing the US So much. But as. And, and he's actually, we've learned in these trade negotiations, he claims that there's a bowling ball test that they use in Japan where they drop bowling balls on US Cars. And when the car breaks, the Japanese use that. A bowling ball as a tariff. And the Japanese are like, dude, what are you. Bowling ball tests. What are you. We don't do bowling ball tests. We don't even know what that. What's a bowling ball test? Here, watch this.
- [17:38]
Donald Trump
It's pretty soon sooner than most people think, because that's what other countries have.
- [17:42]
Been doing to us.
- [17:43]
Just so you understand, they were tariffing the hell out of us. We couldn't sell cars in Europe, we couldn't sell cars in China.
- [17:50]
We couldn't sell cars in Japan or anywhere else.
- [17:52]
We couldn't do anything.
- [17:54]
Host/Commentator
I think it's important to note one of the developments that's happening as well, which is that we've seen an increase in closeness, which no one would ever expect before, between Japan, South Korea and China. China's really filling the void right here. And you see leaders from South Korea, Japan and China meeting together back in late April, talking about bringing stability to the world. That trilateral used to under Biden not have China, and It was the U.S. south Korea and Japan. And that's one of the things that former President Biden was very happy about being able to do. But now you see what's happening right there. I think this says it all right here. You could type this into whatever AI service you use. It's the most basic fact that you would think Trump or anybody should know. I asked it. Is Japan the biggest investor in the US of all countries? Yes. Japan is the largest foreign direct investor in the United states. As of 2023, Japan's cumulative foreign direct investment in the US reached 783.3 billion, surpassing Canada 749.6 billion. Germany, 657.8 billion, and the United Kingdom 635.6 billion. This marks Japan as the top investor for five consecutive years. Japanese companies significantly contribute to the US economy, employing 968,700Americans in 2022, with over half in manufacturing and generating 82.3 billion in exports, about 4% of total US merchandise exports. What about Japan being the largest holder of U.S. treasuries of our bonds? Yes, Japan is the largest foreign holder of US treasury securities. As of April 2024, Japan held approximately $1.15 trillion in US treasury securities, according to data from the US Department of Treasury and the Federal Reserve. This figure has been consistent in recent years, with Japan overtaking China as the top non sus holder in 2019 and maintaining that position. For comparison, China has the second largest holder at about 784.3 billion in February 2020. Japan's significant holdings are driven by its need to invest in excess savings abroad due to low yields on domestic bonds, a strategy influenced by the bank of Japan's monetary policies. So you think about it. It's like, why are you screwing around with our biggest trading partner, the biggest employer, and the largest holder of our treasury bonds? And the reason why I just showed you how basic it is to grasp that information is because Donald Trump's talking about bowling ball tests and he's lying about rice and he's lying about tariffing cars. And there's, there's, they're one of our they're our strongest trading partner. It's like, what the hell are we doing here? Hit subscribe let's get to 6 million subscribers and thanks for watching New Midas Merch Drop.
- [21:12]
Advertiser/Promotional Speaker
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