Here’s the original clip of Ronald Reagan from April 25, 1987, where he delivered a complete and total rebuke against tariffs. Trump is calling Reagan’s words in this video “FAKE” and “fraudulent.” They’re 100% real. And the original clip is actually far worse for Trump, as much is left out of the ad. Watch this clip and read the full transcript:
Throughout the world, there's a growing realization that the way to prosperity for all nations is rejecting protectionist legislation and promoting fair and free competition. Now, there are sound historical reasons for this. For those of us who lived through the Great Depression, the memory of the suffering it caused is deep and searing. And today, many economic analysts and historians argue that high tariff legislation passed back in that period, called the Smoot-Hawley tariff, greatly deepened the depression and prevented economic recovery.
You see, at first when someone says, let's impose tariffs on foreign imports, it looks like they're doing the patriotic thing by protecting American products and jobs. And sometimes for a short while, it works, but only for a short time. What eventually occurs is, first, homegrown industries start relying on government protection in the form of high tariffs. They stop competing and stop making the innovative management and technological changes they need to succeed in world markets.
And then, while all this is going on, something even worse occurs. High tariffs inevitably lead to retaliation by foreign countries and the triggering of fierce trade wars. The result is more and more tariffs, higher and higher trade barriers, and less and less competition. So soon, because of the prices made artificially high by tariffs that subsidize inefficiency and poor management, people stop buying.
Then the worst happens. Markets shrink and collapse, businesses and industry shut down, and millions of people lose their jobs. The memory of all this occurring back in the 30s made me determined when I came to Washington to spare the American people the protectionist legislation that destroys prosperity. Now, it hasn't always been easy. There are those in the Congress, just as there were back in the 30s, who want to go for the quick political advantage, who risk America's prosperity for the sake of a short-term appeal to some special interest group, who forget that more than 5 million American jobs are directly tied to the foreign export business, and additional millions are tied to imports.
Well, I've never forgotten those jobs. And on trade issues, by and large, we've done well.
Fredericton fire crews are working at a wildland fire behind the Walmart on the city’s northside. Crews have the fire contained and are extinguishing hot spots.
@TweetsByDre88 In NB we toss a fist-full of dulse and 8 Alpine camo cans out back of cousin Danny’s backdoor garage to ward the Christmas Pogie cops from cutting our EI $.
@Onemainstreet Congratulations Andrea on a great career in politics (and you do have an awesome riding). Hope to see you back in practice here in #NB !
@Gov_NB Couldn’t be more pleased to see @Gov_NB spending on interventions for youth mental health and addiction services . Helping people early in life makes a huge difference.
@thomjeff Going to bite here . @cityofsaintjohn has huge infrastructure & community service needs. #GNB assessments squeeze SJ to near the lowest urban values in Canada . Pop grows , but tax base effectively shrinks , infrastructure ages , kids lose on services, ppl leave. This is real.
@CTVAtlantic Small nuclear is a fascinating choice for #FirstNations in #Maritimes - an expansion from existing FN wind power projects ? Eyes on this .
Calling all journos looking for an exciting chase producer job on a daily morning radio show in beautiful Fredericton! Plus you get to work with me & @myfanwycbc 🙂
Spread the word & reach out with any questions! Deadline is Aug. 1.
https://t.co/3nFSd8Imco
This is a definite win for kids - air quality control in schools during wildfire seasons - and post Covid - is a smart use of tax money . Pleased to see it
Motion 36 has passed. Unanimously.
A lot of people have done a lot of work to get to this point. I’m proud to say I am one of them - and that many of the others are my friends.
Sewer grates angled the wrong way are a huge hazard. Had a client whose elbow was seriously fractured as a result. This is on McNabb S of Mulberry @cityofhamilton. These are 28x700c tires, not the slimmest. As cyclists are pushed to the curb by pickups this becomes a real hazard.
Supreme Court of Canada releases its reasons for the appeal allowed from the bench in R v Hanan. 35-month delay for jury trial unreasonable. Manslaughter conviction set aside, stay ordered. https://t.co/gePQpyTolQ #SCC