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WIBC 9AM-Noon Podcast

Trump signs memo to determine reciprocal tariffs on US trading partners

WIBC 9AM-Noon Podcast

WIBC

News

4.61.2K Ratings

🗓️ 14 February 2025

⏱️ 7 minutes

🧾️ Download transcript

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Transcript

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0:00.0

Pat Sullivan here to remind you to stop putting screens on your gutters.

0:03.5

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0:07.2

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0:08.8

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0:10.6

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0:13.5

gutter helmetindy.com.

0:15.2

Yesterday, Donald Trump signed a memorandum calling for fair and reciprocal trade tariffs on all major U.S. trading partners,

0:22.8

including longtime allies. He signed the memorandum, and he tasked Howard Lutnik with assessing

0:30.3

within 180 days whether remedies are necessary or not, and the OMB is going to submit a report

0:37.1

on the fiscal impact of all the tariffs.

0:40.1

And it was reported that last year, U.S. companies paid foreign countries $370 billion in tax,

0:46.6

and they paid us $57 billion in tax.

0:50.9

So if you impose tariffs on us, we're going to impose tariffs on you in return.

0:56.2

Yeah. The thing working against Trump, though, is that we like cheap stuff. And that's why countries

1:01.4

have been able to get away with this is they know the American people are pretty weak,

1:05.9

especially when it comes to wanting things fast and wanting to expand their dollar and wanting buying power.

1:12.2

Here is my question for Donald Trump. And this is not meant to be in a in a hater fashion.

1:18.1

It's not meant to be in any sort of never-trumper fashion. You are going to increase tariffs on other

1:25.4

countries, which will drive prices up. Your budget proposal that is

1:31.6

currently in front of the House, and based on some agreement that came out yesterday,

1:35.2

will add between $4 and $4.5 trillion to the nation's debt. You are pressuring the Federal Reserve

1:42.4

to lower interest rates, though they have thus far pushed back

...

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