Trump’s NAFTA Rebrand Is a Marketing Fraud – Ep. 395
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 3 October 2018
⏱️ 59 minutes
🧾️ Download transcript
Summary
https://neworleansconference.com/conference-schedule/
NAFTA was the Worst Deal in World History?
I want to talk about Donald Trump's new trade deal. When Donald Trump was running for President, he said that NAFTA (North America Free Trade Agreement) was the worst trade deal ever negotiated ever by anyone in world history. It wasn't just the worst trade deal that America got into, it was the worst trade deal that anybody ever got into.
I don't know how many trade deals Donald Trump actually studied, and whether he compared them to NAFTA to know that NAFTA was worse than any other deal that had ever been negotiated, but that was his claim. In fact, even in the ceremony where he took credit for the new deal that he negotiated he repeated that NAFTA was the worst deal ever negotiated.
We Went from a Good Name to a Lousy Name
Then he unveiled his deal, which he now calls the greatest deal ever negotiated. So we went from the worst deal in the history of deals to the best deal in the history of deals. The problem is, it is basically the same deal! The only thing that has really changed is the name. We went from a good name to a lousy name, and the funny thing about it is Donald Trump is claiming that the name is better. The old name was NAFTA. The new name is USMCA. Us-ma-ca! Us-ma-ca? What kind of name is that? We basically went from a nice name to a ridiculous name.
NAFTA Re-Branded with a Worse Name
But the bottom line is that's probably the most substantive difference between the two deals. Pretty much, it is the same deal. Yet this is the greatest deal in history and the old deal was the worst deal ever. This is standard operating procedure for Donald Trump. Everything is great now that he is President. Donald Trump pretended everything was awful before he was elected, and now, he's made everything fantastic, but he hasn't done anything.
You listen to Fox News, they're talking about this thing like it is the greatest thing since sliced bread. It is NAFTA re-branded with a worse name. Our Sponsors: * Check out Chilipad and use my code sleep.me/GOLD for a great deal: https://sleep.me * Check out DBJourney and use my code Schiff15 for a great deal: https://dbjourney.com * Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com * Check out Plaud AI and use my code GOLD for a great deal: https://plaud.ai * Check out Quince and use my code quince.com/gold for a great deal: https://www.quince.com * Check out TruDiagnostic and use my code GOLD20 for a great deal: https://www.trudiagnostic.com Privacy & Opt-Out: https://redcircle.com/privacy
Transcript
Click on a timestamp to play from that location
| 0:00.0 | The Peter Schiff Show. |
| 0:08.8 | Well the Dow Jones industrial average managed to put in a new all-time high today, but it's |
| 0:14.3 | the only major stock market index that finished in the green. |
| 0:19.2 | Most of them, or all the other ones, were down. |
| 0:21.6 | S&P only down a little bit being helped out by some of these industrial names, but the |
| 0:26.6 | Nasdaq was down almost a half a percent. |
| 0:29.7 | Russell 2000 was down just over 1 percent. |
| 0:33.4 | If you look at some of the sectors that continue to get beat up, making new 52-week lows, |
| 0:39.2 | so even though the headlines are probably going to be about the Dow Jones making another |
| 0:43.9 | all-time record high, beneath the surface are a lot of stocks that are having a lot of |
| 0:49.4 | problems. |
| 0:50.4 | Even Morgan Stanley, which managed to finish the day unchanged, hit a 52-week low today. |
| 0:56.4 | So now you have some of these banking stocks hitting new lows. |
| 0:59.3 | I've been talking about the home builders in bear markets. |
| 1:02.7 | The auto stocks continuing to go down, general motors down another 2.6 percent today, another |
| 1:08.4 | 52-week low. |
| 1:10.0 | Some of the retailers really get beat up. |
| 1:12.0 | I'm going to talk a little bit more about why that is the case later in this podcast, |
| 1:17.8 | but a lot of negative news that is going to be masked behind the headline of the Dow Jones. |
| 1:24.2 | Of course, a lot of the positive talk is going to be related to Donald Trump and this |
| 1:33.0 | new trade deal that he negotiated. |
| 1:35.1 | I'm going to get to that up next, but I wanted to just keep talking a little bit about the |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Peter Schiff, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Peter Schiff and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.