Nancy Pelosi Quotes Ronald Reagan During Takedown Of Trump's 'Reckless' Tariffs

Forbes Breaking News

During a press briefing on Wednesday, Speaker Emerita (D-CA) spoke about President Trump's tariffs.

Transcript

00:00Oh, my goodness, and flowers on top.

00:04Good morning, everyone, and I want to thank Laurie Poston for Arcadio Produce for hosting us today.

00:15This is a remarkable place. I hope you had a chance to see the force of it all.

00:20Small businesses like Arcadio are the lifeblood of the American economy

00:24with their great optimism, entrepreneurialism, and courage.

00:29It is a privilege to join so many small business owners and community leaders

00:34during this Cost of Living Week in America.

00:36All over the country, House Democrats are having events with the community

00:41about bringing down the cost of living.

00:45That was something the president promised in the campaign,

00:50but the exact opposite is happening now.

00:53So this Cost of Living Week is part of a drumbeat of the national opposition

00:58to Trump's reckless economic policies.

01:02Now, I've always said, because the Democratic Party for a long time

01:06has been so enthusiastic about small business,

01:10we see it as the ultimate job creator, wealth creator for our country,

01:15and those who engage in small business are the most optimistic.

01:20What is more optimistic than starting a small business?

01:23Maybe getting married, but maybe you have some more confidence there

01:29about what might happen.

01:30So thank you for your courage, your optimism,

01:33because that, again, is the lifeblood of our economy.

01:38We look forward to hearing your stories.

01:40The Trump administration's ineptitude is tanking our economy

01:46in a self-inflicted disaster that leaves hardworking Americans

01:50bearing the brunt of the pain.

01:52Make no mistake, President Spahn's senseless tariffs are driving prices higher,

01:58draining retirement savings, look at 401Ks,

02:02and pushing us to the brink of recession.

02:05Here in San Francisco, Trump's economic policies are hurting small business owners

02:10and their employees by instilling fear and uncertainty.

02:15When business has enough uncertainty, as it is when you go forth,

02:19you don't need civic uncertainty of this magnitude.

02:23And across the country, working families could see their costs go up

02:26as much as $4,600 a year,

02:30the largest tax hike on American families in history.

02:36I'm fond of certain quotes from Ronald Reagan.

02:39He made the best speech of anyone on immigration.

02:43I recommend you see that.

02:45It was the last speech he made as President of the United States.

02:49And it's on, he says,

02:51I want to communicate a message to a country I love.

02:54And he talks about the Statue of Liberty and immigration.

02:57When I quote that to the Republicans, they don't applaud.

02:59But nonetheless, now I quote this to them.

03:04In 1988, President Reagan said,

03:07America's most recent experiment with protectionism

03:11was a disaster for working men and women of this country.

03:16When Congress passed the Smoot-Harley Tariff in 1930,

03:20he goes back then to when Congress passed the Smoot-Harley Tariff in 1930,

03:25we were told that it would protect America from foreign competition

03:29and save jobs in this country.

03:32The actual result was the Great Depression.

03:37He continued,

03:38We should beware of the demagogues.

03:41This is Reagan talking in 1988.

03:44We should beware of the demagogues who are ready to declare a trade war against our friends,

03:50weakening our economy, our national security, and the entire free world,

03:55while cynically waving the American flag.

03:58Ronald Reagan.

04:01He then goes back to the 1930s when it was Smoot-Harley.

04:04He said when he made his first vote for President of the United States as a young person,

04:12he voted for Franklin Delano Roosevelt, who overturned the Smoot-Harley.

04:17I just thought I was reading that part.

04:19Ronald Reagan's words were true then and in 1988, and they are true now.

04:25With the Trump tariffs fully in effect, and again, all the uncertainty.

04:31Now you see it, now you don't.

04:32Well, maybe so, maybe not.

04:34San Franciscans will pay more for grocery shoes and clothing, household necessities,

04:39auto parks, recreational items, you name it.

04:42While Trump doesn't care about the pain of the American people,

04:46he should have recognized the fear that he is causing

04:51and that House Democrats are gathering across the country to stand united against his reckless economic policy.

04:59So, again, really, that's what we're doing across the country this week.

05:06This is a week.

05:07Some of you were with us when we had the hands off our Medicaid, hands off our Social Security,

05:14and now we're talking about our economy writ large.

05:18The best way to talk about that, though, is to hear from our small business folks.

05:24It's now my pleasure to introduce Lauren Crabb, founder and owner of an incredible small business

05:30in San Francisco, Andytown Coffee Roasters.

05:35Thank you, Lauren, for being with us, and I yield the floor to you.

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