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Political Commentator
Donald Trump just finished up a disastrous speech at the Nippon Steel factory in Pittsburgh, Pennsylvania. Donald Trump is trying to take credit for a deal whereby Nippon Steel, a Japanese company, will be acquiring US Steel. Donald Trump is making up fake terms of the agreement, when in fact the agreement was already made in 2023 and was blocked by former President Biden. And Donald Trump on trail threatened to block this deal as well. But now he's just making up fake terms about what the deal actually is. I'll talk about that in a little bit. But here's what Donald Trump says while speaking with the steel workers at Nippon Steel. He says that we will be increasing steel tariffs from 25% and doubling it to 50%. Here, play this clip.
Donald Trump
But he's great. He's great at what he does. We are going to be imposing a 25% increase. We're going to bring it from 25% to 50% the tariffs on steel into the United States of America, which will even further secure the steel industry in the United States. Nobody's going to get around that. So we're bringing it up from 25%, we're doubling it to 50%. And that's a loophole. And by the way, I have to tell you, I believe that this group of people that just made this investments right now are very happy because that means that nobody's going to be able to steal your industry. It's at 25%, they can sort of get over that fence. At 50%, they can no longer get over the fence. So congratulations to everybody and to you for making a great deal. You just made a better deal, right? I said to the group, would you rather have a 40% increase because I was thinking about 40. When I came, I said would you rather have a 40% or a 50%? They said we'll take 50. I said I had, I had a feeling you were going to say that.
Political Commentator
Now by doing that he's going to actually cause America to lose a lot of jobs. A lot of our manufacturers were rely on steel imports from other countries as part of their kind of processes to build other things. And so by Donald Trump imposing that tariff, it will be a significant net loss on our economy. Of the 28 economists who were surveyed about whether this is a good idea to tariff steel, 50%, all 28 say it's either very unfavorable or unfavorable to the United States economy. Next up, Donald Trump then says that we're going to have close to $11 trillion invest in the United States. Let's play this clips.
Donald Trump
And those numbers are going through the roof. We're going to have close to $11 trillion invested in new investments in the United States. And you can look at other years, there's never been anything like that. And by the way, that's essentially in two months, not four months because it took me a little time to get acclimated. But over the last two two and a half months we have, we're over $11 trillion is going to be coming Apple again.
Political Commentator
This is a totally made up number. The entire GDP for the United States is somewhere in the range of 25 to 30 trillion dollars. This 11 trillion dollars is made up the same way he says when he went to the Middle east that Saudi Arabia, UAE and Qatar invested 5.1 trillion. He says when like the entire GDP of like Qatar is 200 billion makes here. Donald Trump further lies to the people and just watch the routine of just these lies. He lies to the the steel workers here. He says there's going to be no layoffs, no outsourcing and everyone here is going to get a $5,000 bonus. And as he's almost like taking credit for it. And again, we haven't seen the terms of the new deal and we know that this is going to lead to jobs being lost, but he'll just blame it on other people. Here, play this clip.
Donald Trump
You're not going to have to even think about that. Frankly it won't matter because they're going to for a long time, a lot longer than that. There will be no layoffs and no outsourcing whatsoever. And every US steelworker will soon receive a well deserved $5,000 bonus. That's very rare. Thank you Very much. That's great. That's importantly for what you've gone through. You've gone through a lot. It's closing. It's not closing, it's opening. And you want to stay here. People say, well, we'll move to another place and we'll do chips. We'll do something like chips. Somehow you don't want to do chips. I'm looking at these giant guys with the giant arms. You're not going to like doing chips.
Political Commentator
Most importantly, more lying from Donald Trump. He then stands in front of these steel workers and says that the 2024 election was the greatest landslide ever. He says it's the biggest landslide in 129 years. It's false. Donald Trump didn't even get the majority of the vote in the 2024 election. Here, play this clip.
Donald Trump
I and I'll say it again. We have the hottest country right now in just four months. But actually, you have to go back to November 5th. Since November 5th, that was election Day. We had the greatest election victory, they say in 129 years. The most consequential election in 129 years. I don't know what 129 years was, but we'll see. I will check it out later on. We'll find out. Must have been something pretty good. But we have the most consequential. We won every swing state. We won the popular vote. We won the districts, 2,750 to 505. We're doing a job.
Political Commentator
And you do you see, though, it's just lie after lie after lie, you know, to the people who are there, to the steel workers who are there. And you know, when, then when he's called out on the lie, he'll blame judges, he'll blame the Japanese company, he'll blame Congress and he'll be, I didn't do it. But it's obvious, you know, this is all just one gigantic fraud like this. Donald Trump says that last month we cut the trade deficit in half. Here, play this clip.
Donald Trump
Last month we also cut the trade deficit in half. And that's the story of today. They can't believe it. The numbers just came. We, we cut. Before we even get started, actually, we cut it in half, the trade.
Political Commentator
And again, it's just a basic fact check, you know, we did not cut the deficit in half. Why don't I even just use Elon Musk's grock? Is AI to fact check this and you'll see. No. Donald Trump's claim that the US Cut the Trade deficit in half last month is not true. According to the latest data, the US trade deficit actually increased to 140.5 billion in March 2025, up from 134.5 billion in February20 to 2025. So the, the deficit is going up and it's not going down. All of Donald Trump's things have had the reverse effect. You know, I get asked a lot where I do my research from for things like that as well and for seeing how this stuff is being covered by right wing and by left wing media. I use something called Ground News. And so I took a look at Ground News just to see who's covering this kind of, this kind of fake terms that Donald Trump's pushing out there for this US Steel deal with Nippon, you know, and as I look at the results here, you see that 49% of the sources are allegedly on the, the quote unquote center, you know, which is deeply problematic because they are getting fed headlines. US Steel to remain in America form partnership with Nippon. Trump says, Trump says. When you see, Trump says, you should know that that is a total lie. Anyway, this, the research tool I use, it's called Ground News. It's essential to my research. You can get 40% off by going to ground news/mtn or scan the QR code. We're going to give our viewers 40% off. Ground News top tier vantage plan which will get you unlimited access to all the tools that I use. Ground News is subscriber funded so they don't rely on ads that could also introduce bias subscribing supports our channel and their independent team working to keep the media transparent. That's Ground dot news/mtn. So go and check that out. Now, going back to Trump's disastrous speech right here. Trump, after lying to all of the people about the deficit about bringing in $11.1 trillion. By the way, if all that stuff happened, it would be great. It's just all a lie. He says, you're going to be so happy. You're going to have so much success. You're not going to know what to do with all of your success. Here, play this clip.
Donald Trump
Oh, you're going to be happy. You're going to be happy. There's a lot of money coming your way. It's a lot of money. You're going to say, please sir, we don't want this kind of success. It's too much so we can't take. Please, we beg you, we don't want this much success. But we do really don't we? We're going to be so successful. You, you have just, you have just started. You're going to watch.
Political Commentator
Come on, what are we talking about there? Right? Like, and, and we have to really think about that, though, because it's a reminder of how he campaigns and really when he's in office, how he campaigns, and it's just based on fraud. The people there are not going to be so successful that they're not going to know what to do with it. Go check back what happened with his 2018 steel tariffs. Go look at what's happening right now with the tariffs. People are losing their jobs. We've had jobless claims last week ro, what, 241,000. This is, this is all a lie. But he goes there, he lies to the people, he defrauds them. And then he'll blame a Dr. Foushee or he'll blame a Jerome Powell. He'll blame whoever. Then Donald Trump talking about more lying. He talks about he built the wall. Play this clip.
Donald Trump
But they allowed, they allowed that to happen. I built almost 700 miles of wall. If we didn't have the wall, we could have never done what we did over 700 miles. But still they came because they didn't want to finish. They didn't want to close up any gap, the gaps that we had to keep so that we could get our equipment out so we could get through. They didn't want to put up the final stages. It would have taken three weeks to put up the final stages. They said, no, we don't want the wall built.
Political Commentator
Then he says this weird statement about how, you know, all of these steel jobs were lost, like taking candy away from a baby. Dude, you were in office before. You were the one who claimed that you were going to bring it back the first time around. But play this clip.
Donald Trump
Rails and incompetence and stupidity and corruption cost this region over 100,000 steel jobs. And they melted away just like butter melts away. Between the year 2000 and 2016, more than half of, of all the job at Pittsburgh iron and steel mills were obliterated. They were just absolutely taken away. Like, just take it away like you take away candy from a baby here.
Political Commentator
Donald Trump then claims and still believes that insane asylums and political asylum are the same thing. Play it.
Donald Trump
They came from mental institutions, the mentally insane. They were pouring into our country by the millions. They allowed this to happen to our country.
Political Commentator
And this very creepy thing that Trump is doing, he says that these accounts that kids are going to get when they're born that he calls the Trump accounts. That every newborn child will get $1,000 credit the moment that they're born and they're Trump accounts. You don't get more dictator and weird than this to call baby accounts Trump accounts. Play this clip.
Donald Trump
And we're creating a special Trump account for every newborn child, starting them off with a $1,000 credit to be invested over the course of their life. A little baby is born, they're going to start off with $1,000. And if we do a good job of investing their money, we're going to go with one of the, one of the investing guidelines. Who the hell knows if they're any good, but they have a chance to be very rich. It's going to be very cute to see. We're going to follow it very closely.
Political Commentator
So let's just take a look at what the United States Steel Workers Union is saying. Just because I think facts matter. Their headline is US Steel Partnership Announcements. More question than answers. They haven't seen. The union hasn't seen the terms of this deal. I think it's an important thing to point out the union hasn't seen the terms of the deal. They said if it's the 2023 deal and that means Nippon, the Japanese company is acquiring U.S. steel. Not the opposite way. But Donald Trump and his regime members were out there saying, no, no, no, Nippon Steel is going to be folded under US Steel. And it's like US Steel acquiring Nippon. That's, that's not what's happening. Nippon is acquiring U.S. steel. And one of the things that we've seen with these types of acquisitions is going to be layoffs and then a movement towards non union shop factories. That's what they're going to do. And then when they do it, Trump's going to do. But I was, I had it all planned out.
Advertiser
It was all perfect.
Political Commentator
But then the radical leftist did this to me, the rat. I mean, how do the people not in that audience not know that the guy is conning him? Don't you realize this is the scheme he ran in Atlantic City, you know, in the early 1990s and they all lost their jobs. Don't you have a short memory of what happened the last time around with him? They don't.
Donald Trump
They don't.
Political Commentator
I, I don't know how else to get through. Get through. And then you, the guy's defrauding you. It's so obvious. I'll check back in you with, back, back in with you in three months. Here's the TSMCA Trump tries to pronounce. Tsmca can't even pronounce what he's talking about here. Play this clip.
Donald Trump
$100 billion to invest in America, not in China. Nvidia, $500 billion. TSMC. If you look at this one, TSMC. And this is a company, the biggest in the world for chips.
Political Commentator
And that basically sums up that speech in a nutshell. Hit subscribe. Let's get to 5 million subscribers. Thanks again. Ground News. Ground News. We appreciate you, everybody. Check that out. Ground News MTN, and then use that code. Get that 40% off the ground news. Top tier vantage plan. Thanks so much. Love this video. Continue the conversation by following us on Instagram. It's touch and help US blow past 1 million followers.
Podcast Summary: The MeidasTouch Podcast – "Trump Goes Off the Rails in Disaster Speech"
Release Date: June 1, 2025
In this episode of The MeidasTouch Podcast, the Meiselas brothers delve into former President Donald Trump's recent speech at the Nippon Steel factory in Pittsburgh, Pennsylvania. Hosted by Ben, Brett, and Jordy Meiselas, the podcast combines insightful political analysis with engaging brotherly banter. This detailed summary captures the key discussions, insights, and conclusions drawn by the brothers and their guest political commentator.
The episode begins with a critical examination of Donald Trump's recent address to steel workers at the Nippon Steel factory. The political commentator highlights Trump's attempts to claim credit for a purported deal facilitating Nippon Steel's acquisition of US Steel.
A significant portion of Trump's speech focused on his promises to increase steel tariffs, which the commentator scrutinizes extensively.
Notable Quote (01:47):
Donald Trump: "We are going to be imposing a 25% increase. We're going to bring it from 25%, we're doubling it to 50% the tariffs on steel into the United States of America."
Analysis: The commentator argues that increasing tariffs from 25% to 50% on steel imports will detrimentally impact the U.S. economy. Citing a survey of 28 economists, all responded that the tariff hike is "very unfavorable or unfavorable" for the U.S.
Trump's assertion of $11 trillion in new investments within two months is vehemently debunked.
Notable Quote (03:50):
Donald Trump: "We're going to have close to $11 trillion invested in new investments in the United States."
Fact-Check: The commentator points out that the U.S. GDP ranges between $25 to $30 trillion, making Trump's $11 trillion claim unrealistic and exaggerated.
Trump claims a significant reduction in the trade deficit, which the commentator refutes with actual economic data.
Notable Quote (07:22):
Donald Trump: "Last month we also cut the trade deficit in half."
Counterpoint: According to the latest figures, the U.S. trade deficit increased to $140.5 billion in March 2025 from $134.5 billion in February, directly contradicting Trump's statement.
In his speech, Trump assures steelworkers of job security and financial bonuses, which the commentator finds misleading.
Notable Quote (05:12):
Donald Trump: "There will be no layoffs and no outsourcing whatsoever. Every US steelworker will soon receive a well-deserved $5,000 bonus."
Critique: The commentator emphasizes that without the actual terms of the deal, such assurances are unfounded and likely to lead to future job losses.
Trump boasts about a historic election victory, a claim the commentator disputes.
Notable Quote (06:14):
Donald Trump: "We had the greatest election victory in 129 years."
Reality Check: Trump did not secure the majority of the popular vote in the 2024 election, making his claims factually incorrect.
One of the more unusual promises made by Trump involves financial accounts for newborns.
Notable Quote (12:47):
Donald Trump: "We're creating a special Trump account for every newborn child, starting them off with a $1,000 credit to be invested over the course of their life."
Analysis: The commentator views this as another example of Trump's unconventional and questionable policy proposals.
Addressing the implications of Trump's speech, the commentator references the United States Steel Workers Union's stance.
Key Point: The union has not seen the terms of the alleged deal, raising concerns about potential layoffs and shifts toward non-unionized factories under Nippon Steel's acquisition of US Steel.
Implications: Such acquisitions historically lead to reduced jobs and weakened union presence, contrary to Trump's optimistic portrayal.
The episode concludes with the commentator reiterating the inconsistencies and falsehoods in Trump's speech. Emphasizing Trump's pattern of misinformation, the commentator warns listeners about the potential economic fallout from Trump's proposed policies.
Final Notable Quote (13:14):
Political Commentator: "This is all a lie. He lies to the people, he defrauds them... It's obvious, you know, this is all just one gigantic fraud."
Misinformation: Donald Trump's speech is characterized by numerous false claims regarding economic policies and achievements.
Economic Impact: The proposed increase in steel tariffs is likely to harm the U.S. economy, leading to job losses and increased costs for manufacturers.
Political Strategy: Trump's rhetoric continues to rely on misinformation and hyperbolic promises, undermining credible political discourse.
Union Concerns: The lack of transparency in the US Steel and Nippon Steel deal raises legitimate concerns about the future of jobs and union strength in the steel industry.
In "Trump Goes Off the Rails in Disaster Speech," The MeidasTouch Podcast offers a thorough critique of Donald Trump's recent speech, highlighting the discrepancies between Trump's statements and factual economic data. The episode serves as a critical resource for listeners seeking to understand the potential ramifications of Trump's proposed policies and the broader implications for American democracy and economic stability.
For those interested in more in-depth political analysis combined with engaging discussions, The MeidasTouch Podcast continues to be a go-to source. Tune in every Tuesday and Friday morning for new episodes, and catch live discussions on their YouTube channel every Monday and Thursday night.