STEVE: EARLY THIS WEEK SEAN
DUFFY WOULD GET THE PRESIDENT
NEW POWERS TO RAISE TARIFFS
FROM ACTIONS TAKEN BY OTHER
COUNTRIES HERE HE IS NOW TO
EXPLAIN WHY THIS BILL THE
RECIPROCAL TRADE ACT IS
POSITIVE AND PRACTICAL SO TELL
US WHAT IS IN THIS BILL.
>> I AM A FREE TRADER I THINK
IT'S GREAT FOR THE AMERICAN
ECONOMY IN THE WORLD BUT THE
BOTTOM LINE IS FREE TRADE HAS
TO BE FAIR TRADE AND IN
AMERICA WE HAVE UNILATERALLY
LOWERED OUR TARIFFS WHICH
MEANS TAXES FOR OTHER PRODUCTS
THAT PEOPLE ALL OVER THE WORLD
SO IN THE UNITED STATES IN
AMERICA BUT THEY HAVE NOT
FOLLOWED SUIT.
SO WHEN WE MAKE GOODS AND SELL
THEM OVERSEAS THEY MANUFACTURE
IN THEIR COUNTRY AND NEARLY
FOR FREE AND COMPETE AGAINST
AMERICAN WORKERS.
EUROPE CHARGES AMERICAN-MADE
AUTOMOBILES 10 PERCENT TAX
WHEN WE SELL OUR GOODS INTO
EUROPE.
BUT WHEN EUROPE MAKES A CAR
AND SELLS THAT BMW INTO THE
UNITED STATES WE ONLY CHARGE
THEM TWO.5 PERCENT THEY CHARGE
US FOUR TIMES AS MUCH CHINA
CHARGES 15 PERCENT TARIFFS
IN WISCONSIN IT IS COLD
TONIGHT WE MAKE A LOT OF
BUTTER EUROPE CHARGES OUR
BUTTER A 68 PERCENT TARIFF WE
CHARGE THEM TWO.8 PERCENT.
SO THIS GIVES THE PRESIDENT
THE AUTHORITY TO GO COUNTRY BY
COUNTRY AND PRODUCT BY PRODUCT
TO MAKE IT FAIR IF THEY HAVE
HIGH TARIFFS ON OURS THEN THAT
IS FAIR.
SO WHAT WILL HAPPEN IS WE ARE
THE BIGGEST MARKET IN THE
WORLD EVERYBODY WANT TO SELL
THEIR GOODS IN OUR COUNTRY SO
IF WE RAISE OUR TARIFFS THEN
THEY WILL SAY NO, NO, NO WE
WANT TO LOWER OUR TARIFFS AND
HAVE FREE TRADE.
BUT THERE IS NO INCENTIVE FOR
THEM TO COME TO THE
NEGOTIATING TABLE BECAUSE THEY
HAVE A GREAT DEAL.
THIS WILL FORCE THEM TO
NEGOTIATE WITH THE PRESIDENT.
DO A SOLID FOR THE AMERICAN
WORKER WHO PUTS THEIR BOOTS ON
EVERY DAY AND GOES TO WORK TO
MAKE PRODUCT TO SELL TO THE
WORLD BUT THEY CAN BECAUSE
THERE'S NOT A FREE ONE - - A
FREE TRADE DEAL.
BY THE WAY, GO AHEAD.
>>.
STEVE: THAT COMPLETELY GIVES
LIFE TO WHAT THE PRESIDENT
TALKS ABOUT ALL THE TIME
DURING THE CAMPAIGN TRAIL THAT
IS RECIPROCITY THAT IS THE
WORD THAT HE USES.
BUT THE "WALL STREET JOURNAL"
IS NOT HAPPY WITH YOU OVER
THIS SURPRISE SURPRISE AND A
COUPLE OF POINTS THAT THEY
MADE THEY SAY THAT THIS WOULD
CONTRAVENE UNDER THE WTO.
IS THAT TRUE BUT WITH THEM
THEY LOCK IN THESE UNFAIR
DEALS.
RIGHT?
SO THE 10 PERCENT TARIFF IN
EUROPE VERSUS OUR
TWO.5 PERCENT WITH AUTOS THAT
IS LOCKED IN AND THEY SAY THAT
IS FAIR.
.
>> C WANT TO CHALLENGE THEM.
VERY GOOD.
SO TO SAY WHAT YOU HAVE SEEN
WHAT HE IS DONE WITH THE STEEL
TARIFFS THAT HAS BEEN A
DISASTER.
WHY DO YOU WANT TO FOLLOW THAT
QUICK.
>> THAT WAS IN RESPONSE TO
NATIONAL SECURITY.
THIS IS A SCENARIO WHERE WE
RESPOND TO SAY WE WILL MATCH
THEM AND MAKE IT FAIR AND
EQUAL THAT'S NOT WHAT HAPPENED
WITH STEEL.
THIS IS A DIFFERENT TOOL TO
FOCUS THE PRESIDENT PER
PRODUCT AND PER COUNTRY WHICH
IS NOT WHAT HAPPENED.
>> YOU MAKE A VERY GOOD CASE
VERY CLEAR IT IS PRACTICAL WE
HAVE TO LEAVE IT THERE BUT AS
A VERY INTERESTING NATIONAL
EMERGENCY CAN WE HAVE A
NATIONAL EMERGENCY ON BETTER?
[LAUGHTER]
.
>> NATIONAL EMERGENCY FOR
BETTER?
[LAUGHTER]