WEBVTT 1 00:00:00.840 --> 00:00:03.680 This show is produced and hosted by Mark Webber. The 2 00:00:03.720 --> 00:00:05.400 show is sponsored by G three Aparo. 3 00:00:05.599 --> 00:00:07.919 The views expressed in the following program are those of 4 00:00:08.039 --> 00:00:12.119 the sponsor and not necessarily the opinion of seven tenor 5 00:00:12.320 --> 00:00:17.399 or iHeartMedia. Who is Mark Weber. He's a self made 6 00:00:17.480 --> 00:00:20.879 business executive here to help you find your success from 7 00:00:20.920 --> 00:00:24.600 the New York City projects to the Avenue Montaigne in Paris. 8 00:00:24.760 --> 00:00:27.960 His global success story in the luxury world of fashion 9 00:00:28.280 --> 00:00:29.320 is inspirational. 10 00:00:29.559 --> 00:00:32.960 He's gone from clerk to CEO twice. 11 00:00:33.359 --> 00:00:37.039 Mark is classic proof that the American dream is alive. 12 00:00:37.159 --> 00:00:41.359 And well, here's your host of Always in Fashion, Mark Weber. 13 00:00:41.439 --> 00:00:42.200 Mark Weber. 14 00:00:42.520 --> 00:00:48.799 I can't accept not trying drives me crazy words matter, apathy, 15 00:00:49.000 --> 00:00:54.119 fancy word, simple word speaks, volumes, lack of interest, enthusiasm. 16 00:00:54.200 --> 00:00:57.600 We'll concern. Alternatively, there's another word that I like right 17 00:00:57.640 --> 00:01:00.200 now that fits in. And the word is no. An 18 00:01:00.200 --> 00:01:04.280 amazing word. You ever consider that no is a complete sentence. No. 19 00:01:04.879 --> 00:01:06.920 You don't know anyone in an explanation. It is what 20 00:01:06.959 --> 00:01:09.519 it is. Think about it. No is no. I can 21 00:01:09.560 --> 00:01:11.760 live with no. I find it a great word, an 22 00:01:11.760 --> 00:01:14.959 exciting word, a challenge word. But we have a right 23 00:01:15.040 --> 00:01:17.000 to know if yes me. It was left out of 24 00:01:17.040 --> 00:01:21.640 the Declaration of Independence, life, liberty, and the pursuit of happiness. 25 00:01:21.799 --> 00:01:23.879 It should also have said in the Right to say No. 26 00:01:24.519 --> 00:01:28.480 There's a difference of not caring and caring, a big difference, 27 00:01:28.519 --> 00:01:32.200 and I could deal with either. However, what I can't 28 00:01:32.239 --> 00:01:36.519 accept is not trying. Oh, I get it, I've heard 29 00:01:36.560 --> 00:01:39.719 it all. Oh I don't care. But what does that mean? 30 00:01:39.920 --> 00:01:44.840 Does it represent Ah, it's rebellious, it's independence, it's arrogance. 31 00:01:45.560 --> 00:01:47.680 And then, of course, my favorite, you're confusing me with 32 00:01:47.719 --> 00:01:51.200 someone who gets it's not my problem, not my problem, 33 00:01:51.280 --> 00:01:54.560 not my job. I don't care, Leave me alone. But 34 00:01:54.599 --> 00:01:58.079 then you have to consider life and the do cares 35 00:01:58.200 --> 00:02:01.319 versus I don't care, the doers, the losers, the ambitious 36 00:02:01.400 --> 00:02:05.079 versus the lazy, the character or a lack thereof. I 37 00:02:05.120 --> 00:02:08.759 have a responsibility to my family, my friends, my company, 38 00:02:08.800 --> 00:02:11.560 to the world. But more importantly than anything else, I 39 00:02:11.560 --> 00:02:17.319 have responsibility to myself. That's what caring is about. Now 40 00:02:17.400 --> 00:02:20.319 nowhere will we promise anything in this world. We start 41 00:02:20.319 --> 00:02:22.919 out with a nasty slap in the butt when we're born. 42 00:02:22.960 --> 00:02:29.159 In life goes on from there, growing up, school, relationship, sports, reading, writing, jobs, money, 43 00:02:29.400 --> 00:02:35.319 a life partner. Everything's not easy. Actually, nothing worthwhile in 44 00:02:35.360 --> 00:02:38.599 life is easy, but that's life. We need to work 45 00:02:38.639 --> 00:02:42.479 our way through. We need to navigate and negotiate our existence. 46 00:02:42.680 --> 00:02:47.680 Nothing's easy. The world's gotten more complicated. There's fake news. 47 00:02:48.240 --> 00:02:50.919 Then there's make up your own facts, make up your 48 00:02:50.960 --> 00:02:55.080 own rules, break the rules. Technology is helping everything and 49 00:02:55.199 --> 00:02:58.120 helping us to become more reliant on it, And at 50 00:02:58.120 --> 00:03:02.560 the same time we're becoming a to our devices. We're spoiled, 51 00:03:02.560 --> 00:03:05.400 but we still need and make demands. I want it 52 00:03:05.439 --> 00:03:07.639 when I want it. We don't need it, but we 53 00:03:07.719 --> 00:03:11.159 want it. Nothing gets done with one phone call anymore. 54 00:03:11.479 --> 00:03:16.479 Not one text or email ever works anymore. It's so important, 55 00:03:16.639 --> 00:03:19.840 so disappointing it to get and try and get things done, 56 00:03:20.479 --> 00:03:24.919 and we must. I can deal with whatever nonsense I must. 57 00:03:25.319 --> 00:03:29.560 I just can't accept not trying. I just can't accept 58 00:03:29.560 --> 00:03:33.159 people working in the service sector not trying. I just 59 00:03:33.240 --> 00:03:38.120 can't stand robots who aren't trying properly. I can't stand anything. 60 00:03:38.360 --> 00:03:41.639 And with that as a backdrop, I want to go 61 00:03:41.960 --> 00:03:44.719 tonight to the art of trying. From no dys from 62 00:03:44.759 --> 00:03:48.400 not to doing life, business, whatever, it is. You cannot 63 00:03:48.560 --> 00:03:53.639 accept not trying now someone who I know very well, 64 00:03:53.680 --> 00:03:56.159 who always is putting in that best effort to get 65 00:03:56.199 --> 00:04:00.599 things done. My lawyer, my co host, my son Weber. 66 00:04:00.879 --> 00:04:03.120 Anything making you crazy this week? Jesse? 67 00:04:03.879 --> 00:04:07.759 Oh, yes, it is. Can we talk about tariffs? Let 68 00:04:07.800 --> 00:04:08.199 me tell you. 69 00:04:08.159 --> 00:04:09.960 Something right out of the box, huh. 70 00:04:10.680 --> 00:04:13.599 I have to tell you this is the biggest story 71 00:04:13.639 --> 00:04:17.160 that is taking not just the media world but all 72 00:04:17.199 --> 00:04:21.720 of us by storm. You know you have been a 73 00:04:21.959 --> 00:04:26.639 chief cheerleader for the Donald Trump administration. Okay, this is 74 00:04:26.680 --> 00:04:30.839 one I don't quite understand. And I tell you, the 75 00:04:30.879 --> 00:04:35.639 responses we're getting from the White House and Republicans doesn't 76 00:04:35.680 --> 00:04:39.120 reassure us. I can't tell whether or not this is 77 00:04:39.160 --> 00:04:42.680 still being used as a negotiating tool that is only 78 00:04:42.680 --> 00:04:46.120 going to be temporarily used, or really they believe this 79 00:04:46.240 --> 00:04:48.920 is in the best interest of the country as a 80 00:04:48.959 --> 00:04:52.759 way to spur innovation in the American market and bring 81 00:04:52.879 --> 00:04:56.040 jobs back here and buy American maid when that may 82 00:04:56.079 --> 00:04:59.279 take several years to actually go into work. When it 83 00:04:59.319 --> 00:05:01.720 seems all we're doing is creating trade wars with their 84 00:05:01.759 --> 00:05:05.319 allies and Americans are they're a cost of living is 85 00:05:05.360 --> 00:05:07.639 going to go up and people are freaking out. I 86 00:05:07.680 --> 00:05:10.839 need you somebody who's not a politician, Somebody is not 87 00:05:10.920 --> 00:05:15.199 a mediahead, not a political pundit, somebody who knows business, 88 00:05:15.279 --> 00:05:20.519 knows the economy, knows finance. Explain to me any silver lining, 89 00:05:20.560 --> 00:05:23.120 any benefit of this idea of tariffs, because all that 90 00:05:23.160 --> 00:05:25.279 I can see with the markets going crazy is this 91 00:05:25.319 --> 00:05:27.800 is a disaster and there's pot that Trump is going 92 00:05:27.839 --> 00:05:30.639 to implode his presidency by doing this. Can you tell 93 00:05:30.680 --> 00:05:33.399 me I'm not to jump off the ledge right now? 94 00:05:35.720 --> 00:05:38.759 Wow, that's quite a responsibility of putting on my shoulders. 95 00:05:38.959 --> 00:05:41.639 I do understand. I think where we are right now, 96 00:05:41.680 --> 00:05:45.199 and let's get into it a moment. Now, you're the lawyer. 97 00:05:45.199 --> 00:05:49.120 Do you know under what trade position the government has 98 00:05:49.160 --> 00:05:53.519 for him to enable all of these tariffs. 99 00:05:52.319 --> 00:05:56.079 Like, what's the legal ability for it? I'm not sure. 100 00:05:56.480 --> 00:05:59.800 Well, let me stop by teaching you. Okay, it's under 101 00:05:59.839 --> 00:06:04.079 the auspices of national security in any way that it's 102 00:06:04.160 --> 00:06:07.079 jeopardizing the national security of the United States. The president 103 00:06:07.160 --> 00:06:09.240 has the ability to step in and levy tariffs on 104 00:06:09.279 --> 00:06:12.079 anyone in anywhere he wants, So let's just put that 105 00:06:12.160 --> 00:06:14.560 off to his side. And I would say to you 106 00:06:14.680 --> 00:06:17.600 that the first thing we have to consider is COVID. 107 00:06:17.959 --> 00:06:20.720 Do you remember what we learned during COVID. 108 00:06:21.399 --> 00:06:24.240 That the world can be go from one to eighty 109 00:06:24.279 --> 00:06:27.399 in a second, and that we didn't know what was 110 00:06:27.439 --> 00:06:30.000 going on and we were all based on misinformation. No, 111 00:06:30.079 --> 00:06:32.360 I guess that the world could shut down. The world 112 00:06:32.360 --> 00:06:33.519 can shut down in a second. 113 00:06:33.639 --> 00:06:36.160 No, I guess what I'm referring to is the issue 114 00:06:36.199 --> 00:06:38.800 of tariffs. And that's where we want to begin this 115 00:06:38.839 --> 00:06:43.240 conversation by saying to you, during COVID, we learned that 116 00:06:43.279 --> 00:06:46.560 we couldn't provide antibiotics to our country, that all the 117 00:06:46.600 --> 00:06:51.199 antibiotics needed in this country are imported. So therefore, if 118 00:06:51.240 --> 00:06:53.839 we were at war, we were the country that didn't 119 00:06:53.839 --> 00:06:57.680 want to supply us antibiotics anymore. We get sick and die. 120 00:06:58.279 --> 00:07:02.040 So it was learned in COVID, and the discussions became 121 00:07:02.120 --> 00:07:06.360 more rigorous that there are many things that we don't 122 00:07:06.399 --> 00:07:10.879 have that we need and why because our executives and 123 00:07:10.959 --> 00:07:15.360 our politicians allowed us to outsource these categories in the 124 00:07:15.399 --> 00:07:19.600 want of simplicity, lower prices, and without having the headaches 125 00:07:19.639 --> 00:07:23.759 of manufacturing these things. It's crazy to find out that 126 00:07:23.800 --> 00:07:26.480 we can't control our own destiny. Now, having said it, 127 00:07:27.040 --> 00:07:30.040 take a moment to think how important computers are. My 128 00:07:30.600 --> 00:07:32.639 WiFi went down to my house. I talked about a 129 00:07:32.680 --> 00:07:35.839 little while I was lost darkness. I was in the 130 00:07:35.879 --> 00:07:39.399 Middle Ages. All the chips are being made in Taiwan. 131 00:07:39.519 --> 00:07:41.439 We used to be the chip maker of the world 132 00:07:41.920 --> 00:07:46.079 Silicon Valley. Besides ideas, we were manufacturers. We made everything. 133 00:07:46.399 --> 00:07:50.079 We no longer do we let it become outsourced. So 134 00:07:50.360 --> 00:07:52.240 I would say to you those two things alone. But 135 00:07:52.399 --> 00:07:55.800 being that the name of the show is always in fashion, 136 00:07:56.319 --> 00:08:00.879 if we didn't import fashion clothes, we'd all be walking 137 00:08:00.879 --> 00:08:04.079 around naked. There's not enough capacity in the United States 138 00:08:04.079 --> 00:08:07.959 to put clothes on all our people. So the first 139 00:08:07.959 --> 00:08:10.240 thing you'll have to say is that during the period 140 00:08:10.279 --> 00:08:13.079 of COVID, we learned that we're no longer prepared as 141 00:08:13.120 --> 00:08:16.319 a country. And Donald Trump and everyone else tried to 142 00:08:16.639 --> 00:08:20.040 get back into manufacturing those things that are essential to 143 00:08:20.160 --> 00:08:24.160 the United States. We're not there yet. And if if 144 00:08:24.519 --> 00:08:28.639 we deployed tariffs in order to build industry back here 145 00:08:28.680 --> 00:08:32.600 or to courage those people advisor all these companies we 146 00:08:32.679 --> 00:08:35.600 have here to manufacture these things in the United States 147 00:08:35.919 --> 00:08:40.200 to protect national security, directly, I'd applaud it. I think 148 00:08:40.240 --> 00:08:42.159 it's the right thing to do, and I think America 149 00:08:42.200 --> 00:08:46.039 would understand. And if we had to subsidize these industries 150 00:08:46.080 --> 00:08:50.360 because they couldn't even make money making and manufacturing antibiotics, 151 00:08:50.360 --> 00:08:52.279 then I would think it'd be a good idea to 152 00:08:52.320 --> 00:08:54.639 take some of that money. Then Elon Musk, thank god, 153 00:08:54.679 --> 00:08:58.000 Elon Musk, is finding it and use it to supplement 154 00:08:58.360 --> 00:09:01.559 whatever is needed to make drugs, to make clothes, to 155 00:09:01.639 --> 00:09:04.600 make chips. So that's where I start. Then the question 156 00:09:04.679 --> 00:09:06.360 how am I doing so far? Jess are you following? 157 00:09:06.600 --> 00:09:10.080 Well, well I do, But when is I get where 158 00:09:10.080 --> 00:09:13.120 you're going with that? I get it? But how again, 159 00:09:13.360 --> 00:09:16.240 do you think that tariffs right now are going to 160 00:09:16.279 --> 00:09:19.120 create fix that problem in the immediate future, in the 161 00:09:19.200 --> 00:09:23.440 next five years? I get, I'm going, I'm going okay, okay, okay, okay. 162 00:09:23.840 --> 00:09:26.519 I wanted to take the broad view and say those 163 00:09:26.600 --> 00:09:29.519 things because every tariff that's being deployed right now is 164 00:09:29.559 --> 00:09:33.320 under the auspices of national security. Okay, putting taxes on 165 00:09:33.440 --> 00:09:36.480 shoes is not national security. So I wanted to put 166 00:09:36.480 --> 00:09:40.639 that in perspective. If in fact, by leveraging these taxes 167 00:09:40.679 --> 00:09:43.759 by forcing Taiwan or any of these outside bakers or 168 00:09:44.000 --> 00:09:48.159 helping us drug makers to make those essentials that we 169 00:09:48.279 --> 00:09:52.559 need as a country. I'm imploding and agreeing with taxation, 170 00:09:53.159 --> 00:09:55.279 whether this is the best way to do it. There 171 00:09:55.279 --> 00:09:57.240 are other people who need to tell us that. Now, 172 00:09:57.279 --> 00:09:59.639 having said that, here's the second part of all of this. 173 00:10:00.480 --> 00:10:04.600 I'd like to believe that those people in Washington who 174 00:10:04.600 --> 00:10:08.320 are advising the President to levy taxes on all these 175 00:10:08.360 --> 00:10:13.840 people understand the issue of unintended consequences. This is something 176 00:10:13.879 --> 00:10:17.279 we've talked about before. You've mentioned it. I think recently 177 00:10:17.320 --> 00:10:19.639 one of the shows picture a body of water. You're 178 00:10:19.639 --> 00:10:22.000 standing there and you throw a pebble in the water. 179 00:10:22.519 --> 00:10:24.399 The minute of the pebble hits the water, it starts 180 00:10:24.440 --> 00:10:28.440 making ripples. But at the same time the pebble disappears, 181 00:10:28.799 --> 00:10:32.919 but the ripples go on and on and on. The 182 00:10:33.039 --> 00:10:36.120 question is raising taxes have we thought through the ripples? 183 00:10:36.519 --> 00:10:39.960 Have we thought to what we're really creating here? And 184 00:10:40.000 --> 00:10:43.919 I'll give you an example. I can tell you uncategorically 185 00:10:44.039 --> 00:10:47.159 right now that all the taxes that are being levied 186 00:10:47.200 --> 00:10:50.600 on shoes and foot wear from people overseas, on all 187 00:10:50.600 --> 00:10:53.480 the apparel products and T shirts and sweaters and suits 188 00:10:53.799 --> 00:10:57.039 is crazy because we do not have the capacity to 189 00:10:57.080 --> 00:11:00.399 make those things here now if you really want to 190 00:11:00.399 --> 00:11:04.080 do it, and I wouldn't support it because we're a 191 00:11:04.279 --> 00:11:06.919 we're not a low wage country. I'd rather see our 192 00:11:07.039 --> 00:11:10.200 workers making automobiles where we can afford to pay them 193 00:11:10.200 --> 00:11:13.279 fifteen or twenty dollars an hour, not seven dollars an hour. 194 00:11:13.519 --> 00:11:16.720 I want to see industries like chip making or phone 195 00:11:16.759 --> 00:11:20.399 making where we can play American people because our standard 196 00:11:20.399 --> 00:11:22.919 of living is better than the rest of the world. 197 00:11:23.159 --> 00:11:25.120 What we pay them in a minimum wage, what we 198 00:11:25.200 --> 00:11:28.840 pay for all the necessary side effects, what do we 199 00:11:28.879 --> 00:11:33.600 call them? Government additives, Medicare, social Security, healthcare, et cetera, 200 00:11:33.600 --> 00:11:36.639 et cetera, et cetera. These things cost money, and the 201 00:11:36.679 --> 00:11:39.720 apparel sector does not have the ability to support this. 202 00:11:40.399 --> 00:11:43.440 I was in the shirt business twenty years ago. A 203 00:11:43.519 --> 00:11:46.360 designer shirt out the door would sell at twenty five 204 00:11:46.559 --> 00:11:48.960 ninety nine. If you ask me right now what a 205 00:11:49.000 --> 00:11:51.519 designer shirt would sell out the door. Out the door 206 00:11:51.639 --> 00:11:54.879 means on sale, it's twenty five ninety nine. There is 207 00:11:54.919 --> 00:11:57.480 no inflation, there's no room to take it up. The 208 00:11:57.679 --> 00:12:01.240 parel sector has always been limited except to the greats. 209 00:12:01.559 --> 00:12:03.840 If you want to be Dior, you want to be Fendi, 210 00:12:04.080 --> 00:12:06.080 or you want to be any of these great luxury compans, 211 00:12:06.360 --> 00:12:08.480 they can sell it whatever they want. So why are 212 00:12:08.480 --> 00:12:11.679 we protecting everything across the board? And I'm going there 213 00:12:11.759 --> 00:12:15.840 right now. There are three things that I think the president. Well, 214 00:12:15.879 --> 00:12:17.799 before I go, Jesse, you want to ask me a question? 215 00:12:17.879 --> 00:12:18.360 Am I doing? 216 00:12:18.399 --> 00:12:19.000 Okay for you? 217 00:12:19.960 --> 00:12:23.240 So just so we all are clear, you think this 218 00:12:23.320 --> 00:12:24.039 is a good thing. 219 00:12:24.399 --> 00:12:26.039 No, I just said it doesn't make sense in. 220 00:12:26.080 --> 00:12:28.120 Apparel, Okay, Okay, keep going. 221 00:12:28.559 --> 00:12:32.480 First of all, there's a trade imbalance. Okay, So if 222 00:12:32.480 --> 00:12:36.120 you want to levy tariffs because of a trade imbalance, 223 00:12:36.320 --> 00:12:39.279 I think I understand it. If I'm buying five hundred 224 00:12:39.279 --> 00:12:42.480 billion dollars from Indonesia to import goods, I would like 225 00:12:42.519 --> 00:12:45.600 Indonesia to buy five hundred billion dollars worth of goods 226 00:12:45.879 --> 00:12:50.720 from US. I've talked about this ad infinitem. There's a 227 00:12:50.799 --> 00:12:53.960 question that comes. We are a huge country, We're a 228 00:12:54.000 --> 00:12:57.519 wealthy country. We could afford to buy tons and tons 229 00:12:57.519 --> 00:13:02.039 of products five hundred billion from Indonesia. One country, Indonesia, 230 00:13:02.320 --> 00:13:05.279 while it's very populous, it's a poorer country. They might 231 00:13:05.320 --> 00:13:09.799 not have the ability to buy five hundred billion dollars 232 00:13:09.799 --> 00:13:13.000 a year from US. So the question is, has anybody 233 00:13:13.039 --> 00:13:16.159 looked at how much they're buying and asked does it 234 00:13:16.240 --> 00:13:20.080 make sense? Has anyone sat down with the government in 235 00:13:20.080 --> 00:13:23.000 Indonesia and said, we have a trade imbalance, and here 236 00:13:23.120 --> 00:13:26.679 are those things that we think you should buy from us, 237 00:13:27.200 --> 00:13:29.720 And before we le taxes on them, give them a 238 00:13:29.799 --> 00:13:32.919 chance to say, I'm looking at your lists on here. 239 00:13:32.960 --> 00:13:35.120 You have buses. You know I've been making my own 240 00:13:35.159 --> 00:13:38.279 buses or I've been buying my own buses from Korea. 241 00:13:38.759 --> 00:13:41.679 So before you level a tax on Indonesia because of 242 00:13:41.759 --> 00:13:44.919 trade imbalance, somebody really has to look at the numbers 243 00:13:45.080 --> 00:13:49.039 and see if they're realistic. Then present them with a 244 00:13:49.080 --> 00:13:51.360 plan and saying this is what we want from you, 245 00:13:52.039 --> 00:13:54.799 and way after they have a chance to study the plan, 246 00:13:54.919 --> 00:13:57.000 they come back and say yes or no. And if 247 00:13:57.000 --> 00:14:00.759 you're not happy and you understand either that they can 248 00:14:00.919 --> 00:14:03.320 do what we want or they can't, then you determine 249 00:14:03.320 --> 00:14:07.159 whether he's a tariff. So I'm worried about unintended consequences 250 00:14:07.200 --> 00:14:09.720 in that regard. When you talk to the first issue 251 00:14:10.039 --> 00:14:12.320 trade and balance, let me. 252 00:14:12.240 --> 00:14:15.000 Cas stop you right there. Sure do you think that 253 00:14:15.120 --> 00:14:18.639 this is Trump calling the bluff? I'm really going to 254 00:14:18.720 --> 00:14:20.919 do this. You know I'm not messing around. 255 00:14:21.200 --> 00:14:22.360 So you want to go to the end. 256 00:14:22.360 --> 00:14:25.039 You don't want the details, I will reserve all my 257 00:14:25.159 --> 00:14:26.080 questions for the No. 258 00:14:26.279 --> 00:14:29.799 I just think trying to make a pointy of tariff thing. 259 00:14:29.919 --> 00:14:32.000 So the first was trade and balance we talked about. 260 00:14:32.120 --> 00:14:35.639 Then Donald Trump is talking about reciprocal. Reciprocal is if 261 00:14:35.679 --> 00:14:39.759 you tax me on my exports to you, if you're 262 00:14:39.799 --> 00:14:42.840 making those products I'm shipping to you more expensive in 263 00:14:42.960 --> 00:14:45.919 your country because you're putting a tax on it, then 264 00:14:45.960 --> 00:14:48.480 I'm going to do it to you. Now before we 265 00:14:48.519 --> 00:14:52.639 go there, Jesse, if I wanted to buy white shirts 266 00:14:52.679 --> 00:14:56.000 made of cotton from China or any country in the world, 267 00:14:56.480 --> 00:14:59.120 do I import them here free of charge, no taxes? 268 00:15:00.000 --> 00:15:00.240 Now? 269 00:15:01.080 --> 00:15:03.679 What it was that because you have to pay a duty? 270 00:15:03.759 --> 00:15:04.000 Right? 271 00:15:04.080 --> 00:15:10.000 Why? Because because we're already protecting our local industries. If 272 00:15:10.000 --> 00:15:13.000 you want to buy white cotton shirts and men's dress shirts, 273 00:15:13.120 --> 00:15:16.679 nineteen point seven percent duty is already on those products. 274 00:15:17.159 --> 00:15:21.559 If you want to buy mostly synthetic yoga pants for women, 275 00:15:21.639 --> 00:15:24.200 there's a forty nine percent tax rate. So we are 276 00:15:24.320 --> 00:15:28.559 already taxing. But the question is when you look at 277 00:15:28.600 --> 00:15:32.120 the reciprocal taxes, and I have it here, you look 278 00:15:32.159 --> 00:15:35.480 at these other countries. While we're imposing now with China, 279 00:15:36.440 --> 00:15:40.960 overall discount of reciprocal tariff, China is at sixty seven 280 00:15:40.960 --> 00:15:44.000 percent across the board, and we're only a thirty four percent. 281 00:15:44.720 --> 00:15:48.000 In the case of European Union, they're taxing us at 282 00:15:48.000 --> 00:15:51.039 thirty nine percent. We're only taxing them average twenty percent. 283 00:15:51.600 --> 00:15:54.200 In the case of Vietnam, which is an alternative now 284 00:15:54.279 --> 00:15:58.080 to China for production, they're taxing our products at ninety percent, 285 00:15:58.159 --> 00:16:00.679 while we with a new tax level is only at 286 00:16:00.679 --> 00:16:03.799 forty six. So if you deal with the subject of 287 00:16:03.879 --> 00:16:09.600 reciprocal tax there is a specific message there. Reduce the 288 00:16:09.639 --> 00:16:13.720 taxes that you're forcing American makers to have on products 289 00:16:13.759 --> 00:16:17.000 that you import in your country unfairly. We want to 290 00:16:17.039 --> 00:16:20.200 be able to compete fairly. So either reduce it, make 291 00:16:20.240 --> 00:16:22.200 it meet what we're doing, or we're going to tax 292 00:16:22.240 --> 00:16:25.159 you and tax you in tax and that goes under 293 00:16:25.200 --> 00:16:29.200 the law, not of an unintended consequences. That goes under 294 00:16:29.200 --> 00:16:31.039 the law. The only argument I want to be in 295 00:16:31.279 --> 00:16:33.639 is when the other person has an indefensal position. They 296 00:16:33.679 --> 00:16:37.559 can't support it. Those people can't support that. We used 297 00:16:37.559 --> 00:16:39.679 to try and do business in Brazil. You know what 298 00:16:39.720 --> 00:16:42.720 the tax on American products shipped to Brazil was at 299 00:16:42.720 --> 00:16:45.519 the time two hundred percent. So if I wanted to 300 00:16:45.559 --> 00:16:48.000 sell them sweaters or dress shirts made at van Us, 301 00:16:48.360 --> 00:16:50.399 they would put a two hundred percent duty on it. 302 00:16:50.440 --> 00:16:54.399 Why they wanted all the manufacturing for their products made 303 00:16:54.639 --> 00:16:59.240 in their own country. So this idea of reciprocal trade 304 00:16:59.360 --> 00:17:02.639 agreements is real, and Donald Trump is right. He was 305 00:17:02.720 --> 00:17:04.759 right on trade and balance and he's now right on 306 00:17:04.880 --> 00:17:09.960 reciprocal The question remains unintended consequences. This is going to 307 00:17:10.039 --> 00:17:12.880 raise all our prices in the United States like crazy. Now, 308 00:17:13.000 --> 00:17:15.200 before I go to that, I want to make a point. 309 00:17:15.440 --> 00:17:18.319 Did they sit down with Vietnam, Did they sit down 310 00:17:18.359 --> 00:17:21.519 with China? Did they sit down with the European Union 311 00:17:21.559 --> 00:17:25.599 and said, before I raise all my taxes on you 312 00:17:25.640 --> 00:17:29.400 twenty five percent, which is still less than you're charging me, 313 00:17:29.640 --> 00:17:31.599 I want you to look at what you're doing, and 314 00:17:31.640 --> 00:17:34.400 I want you to lower your trade restrictions on our 315 00:17:34.640 --> 00:17:37.960 government products. I don't want to be at a disadvantage. 316 00:17:38.240 --> 00:17:41.160 I want your consumers. I want your people making decisions 317 00:17:41.240 --> 00:17:44.640 to be able to buy my product. Even Steven with 318 00:17:44.720 --> 00:17:46.880 what you're doing, I don't know if they did that. 319 00:17:47.279 --> 00:17:48.960 There are a lot of countries that hasn't been a 320 00:17:48.960 --> 00:17:51.720 lot of time, and it really really bothers me. So 321 00:17:51.799 --> 00:17:54.319 I've already given you a bit of a plan. And 322 00:17:54.440 --> 00:17:56.599 the third part, the one I thought about that I 323 00:17:56.799 --> 00:18:00.440 know nobody else has said. Why I am a genius 324 00:18:00.480 --> 00:18:02.839 sitting here right now. And if you know Donald Trump 325 00:18:02.920 --> 00:18:05.519 or you know Donald Trump Junior, or anyone in government, 326 00:18:05.799 --> 00:18:08.319 somebody allder to call them and give them this idea. 327 00:18:08.519 --> 00:18:12.079 Let me ask you a question. I facture more automobiles here, 328 00:18:12.119 --> 00:18:15.119 and Donald Trump and his team are talking about the 329 00:18:15.200 --> 00:18:18.039 long game. What is the long game in putting up 330 00:18:18.039 --> 00:18:21.119 a manufacturing facility? How long are they actually making here? 331 00:18:21.559 --> 00:18:21.920 Yeah? 332 00:18:22.079 --> 00:18:24.720 Is there any way to do it faster? It's yours? 333 00:18:25.240 --> 00:18:25.640 Yeah? 334 00:18:25.680 --> 00:18:27.480 You know the problem I have with the long game. 335 00:18:27.839 --> 00:18:31.920 Do you remember when Biden was justifying the support of 336 00:18:31.960 --> 00:18:35.000 the Ukraine at the war with Russia, whether it was 337 00:18:35.039 --> 00:18:36.599 right or wrong at the time. Do you remember what 338 00:18:36.640 --> 00:18:37.839 he said about gasoline? 339 00:18:38.799 --> 00:18:39.039 Now? 340 00:18:39.480 --> 00:18:40.119 Ah, you don't. 341 00:18:40.240 --> 00:18:42.839 What he said was that we're going to it for 342 00:18:42.880 --> 00:18:45.920 a time. Have hardship because the price of oil is 343 00:18:45.960 --> 00:18:48.880 going to go up. I last look at the pump. 344 00:18:48.920 --> 00:18:51.559 I buy high test gasoline for the cars I drive. 345 00:18:52.400 --> 00:18:56.039 When I was under Donald Trump's presidency in twenty sixteen, 346 00:18:56.119 --> 00:18:59.680 guess was less than two fifty a gallon. It's still 347 00:18:59.759 --> 00:19:02.960 for a gallon all these years later. So do we 348 00:19:03.039 --> 00:19:06.279 have time and patience for the long game? I worry 349 00:19:06.319 --> 00:19:08.559 about this now. I bring you back to the question. 350 00:19:08.680 --> 00:19:10.759 Is there any way to make automobiles for High and 351 00:19:10.839 --> 00:19:15.519 Die without waiting three hundred years, three years, five years, 352 00:19:15.519 --> 00:19:16.960 ten years for them to put up a plan? 353 00:19:17.759 --> 00:19:19.599 No, I don't see it. I don't get it. 354 00:19:19.640 --> 00:19:21.960 Now I'm going to give you the genius of my plan. 355 00:19:22.839 --> 00:19:24.519 All right, private label? 356 00:19:24.759 --> 00:19:26.000 What do you mean private label? 357 00:19:27.920 --> 00:19:30.440 There's a big part of this world that's called private label. 358 00:19:31.160 --> 00:19:33.359 Rather than put up a factory and wait for all 359 00:19:33.359 --> 00:19:36.279 of that to come, here's an answer. High and Hi 360 00:19:36.920 --> 00:19:40.480 should come to the United States and say to General Motors, 361 00:19:41.039 --> 00:19:45.000 I make this truck, I make this suv, I make 362 00:19:45.039 --> 00:19:48.640 this car. I want you and your General Motors facility 363 00:19:48.920 --> 00:19:51.559 to make this for me. One hundred percent of my 364 00:19:51.640 --> 00:19:54.960 production is made in Korea. We're a Korean company, but 365 00:19:55.039 --> 00:19:59.160 because it's important to you. I want you to make 366 00:19:59.240 --> 00:20:02.920 twenty five percent of my automobiles for me, not with 367 00:20:03.000 --> 00:20:06.160 your GM nabel. I will give you orders, I will 368 00:20:06.160 --> 00:20:08.920 give you tech packs. I will give you everything you 369 00:20:09.039 --> 00:20:13.240 need to do to manufacture the same exact vehicles I am. 370 00:20:13.880 --> 00:20:17.200 And inside. We'll put a label manufacture joint venture between 371 00:20:17.279 --> 00:20:20.079 High and die in General Motors, and let's just make 372 00:20:20.119 --> 00:20:24.119 automobiles for them, and we will keep our own factories running. 373 00:20:24.279 --> 00:20:27.079 They'll land manufacturing lines. We have all the people, we 374 00:20:27.160 --> 00:20:29.319 have factories that are in place. We could get that 375 00:20:29.440 --> 00:20:33.400 up and running instantaneously. They give us the patents for 376 00:20:33.440 --> 00:20:36.160 the chassis, They give us the supply so they can 377 00:20:36.200 --> 00:20:39.000 supply the parts they're currently supplying. We can make our 378 00:20:39.039 --> 00:20:41.880 own and we will be making those cars overnight. We 379 00:20:41.920 --> 00:20:44.880 don't have to wait three and five years. We're making 380 00:20:44.920 --> 00:20:48.599 it with their brand for them. This happens all the time. 381 00:20:49.119 --> 00:20:51.799 Every time you see a pair of eyeglasses, it's licensed 382 00:20:51.799 --> 00:20:55.559 to an eyewear company. You're seeing Dior, Fendi, all these 383 00:20:55.559 --> 00:20:59.119 designer brands. Calvin Klein name it with designer sunglasses that 384 00:20:59.160 --> 00:21:02.599 are made by other peer it's private label. They're renting 385 00:21:02.640 --> 00:21:06.200 the brand let's buy and make products for them to 386 00:21:06.240 --> 00:21:09.160 get this trade and balance going in our favor. You 387 00:21:09.240 --> 00:21:12.240 need airplanes, we'll make your Korean airplanes with your name 388 00:21:12.279 --> 00:21:14.400 on them for you. Doesn't have to be put up 389 00:21:14.400 --> 00:21:18.000 a plant that it can be immediate. Now, you asked 390 00:21:18.000 --> 00:21:21.279 me an important question. Can we afford this what's going 391 00:21:21.279 --> 00:21:25.559 on right? Absolutely not. It's wrecking havoc with everyone. It's 392 00:21:25.759 --> 00:21:28.799 affecting every industry. Everyone is plotting to figure out how 393 00:21:28.799 --> 00:21:31.160 they can afford this or not. For this, there are 394 00:21:31.160 --> 00:21:34.680 people talking about canceling contracts, rethinking their things. Retailers don't 395 00:21:34.720 --> 00:21:37.640 know where to go. As I said to you twenty 396 00:21:37.680 --> 00:21:39.920 five years ago when I was in the shirt business, 397 00:21:39.920 --> 00:21:43.200 t shirts with nine to ninety nine, a men's cotton 398 00:21:43.200 --> 00:21:45.839 T shirt to wear, you know, under your shirt nine 399 00:21:45.920 --> 00:21:50.079 ninety nine. Twenty five years later, it's still nine ninety nine. 400 00:21:50.960 --> 00:21:55.359 There is no ability to raise prices in these commodity items. Therefore, 401 00:21:55.359 --> 00:21:57.920