Reagan 1987 address was defence of free but fair trade

Reuters.com ^ | October 24, 20255:09 AM CDT | Reuters

[E. Pluribus Unum]

Oct 24 (Reuters) - The 1987 radio address by the late former U.S. President Ronald Reagan at the centre of a new U.S.-Canada row was a defence of free but fair trade in which he explained his decision to put duties on Japanese goods in a trade dispute.

U.S. President Donald Trump said on Thursday that all trade talks with Canada were terminated following what he called a fraudulent advertisement by the Canadian province of Ontario in which Reagan was featured speaking negatively about tariffs.

Separately, the Ronald Reagan Presidential Foundation issued a statement saying the ad used "selective audio and video" and misrepresented the address.

Reagan's 5-minute statement contains a strong defence of the benefits of free trade while explaining his decision the week before to impose tariffs on Japan due to its "inability to enforce their trade agreement with us on electronic devices called semiconductors."

"We expect our trading partners to live up to their agreements. As I've often said: Our commitment to free trade is also a commitment to fair trade," he said.

He added that while trade restrictions of any kind were a step he was "loath to take", the U.S. had evidence in the "special case" of unfair trade practices by Japanese companies.

What follows is the lengthy warning of the dangers of trade protectionism used in the Ontario ad, in which Reagan cites how it contributed to the economic misery experienced in the 1930s Great Depression.

"High tariffs inevitably lead to retaliation by foreign countries and the triggering of fierce trade wars," he said of a spiral that leads to higher prices and less competition. "Then the worst..."

[BenLurkin]

To everything there is a season. This now seems to be the season of tariffs.

[dadfly]

sounds reasonable to me. when people cheat, it’s unfair, put on tariffs. when they play fair, take them off. just what Trump is doing.

the Gipper was right as usual.

[sopo]

Ontario is going to be playing that commercial through the participation of the Jays during the world series. The past 40 years show what the best thinking of that time has led to with a malin neglect of being exploited

[RKV]

Canada tariffed our goods for years. And failed to meet their NATO defense spending obligations. I’m very happy with what Trump has done. Also F Chyna.

[OttawaFreeper]

I recall back in about 1987-88 when Reagan spoke those words, I knew a teacher at my high school who wore a “Don’t Trade Me” button on his lapel and had a poster with caricatures of Reagan and then Prime Minister Brian Mulroney featured with the caption “Canada does not belong to these two men”. Odd that the same sort of people who hated Reagan and Mulroney over free trade now sanctimoniously speak of Trump and his tariffs.

[Dr. Franklin]

In Reagan’s era, it was the Democrats who opposed globalism. Dick Gephardt won the Iowa Caucuses in 1988 promising protectionism. It was Clinton who abandoned blue collar workers for NAFTA and giving China Most Favored Nation trading status. Trump in many ways is like a conservative 70’s Democrat.

[Socon-Econ]

Fair trade? Fair to whom? No business enjoys competition.

[cowboyusa]

Go Dodgers!

[Wuli]

In so many ways regarding trade and economies, 2025 is not 1987. I think if he were alive today Reagan would agree and possibly make a different speech regarding trade and tariffs.