Republicans Overseas Chair: US was taken advantage of

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00:00There can be some immediate reactions to all of this and these threats from the United States.

00:06They may come in the form of capitulation, if that's the way we want to look at it, and the striking of a deal.

00:13But then there's going to be the longer term response, isn't there,

00:16which might lead to the United States being written off as being a reliable trade partner.

00:22I mean, is that a risk, do you think?

00:23No, because we've been a reliable trade partner because other countries have taken advantage of our kindness, of our generosity.

00:33And that's no longer something we can afford.

00:36It was important after World War II to help rebuild the West and help build countries like South Korea and rebuild Japan.

00:44It was also important during the Cold War.

00:46But that's a long time ago, and we don't have the capability to service $36 trillion in debt.

00:53That's a trillion a year just in debt servicing.