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In 1987, President Ronald Reagan delivered a speech emphasizing the importance of fair trade and warning against the perils of trade barriers. Despite his vocal opposition to tariffs, Reagan acknowledged the necessity of protective measures in specific cases, such as the Japanese semiconductor industry, where unfair trade practices were evident. He explained that tariffs, while politically attractive, ultimately harm American workers and consumers over time. The core message was that strategic trade protections serve as a temporary measure on the path toward genuine free and fair trade.