I live in Thailand where the tariff on cars is up to 200% (you should see the crazy prices on a basic mustang!). What happens is most people buy the cars that have manufacturing in Thailand since they are much cheaper and the imported cars are now more of a luxury/status item. If tarrifs are imposed we may actually see more American businesses in response.
Yep. And because Thailand has such high tariffs on imported cars even companies that are not Thai (I don't think there are any Thailand Car Companies) still build in Thailand to bypass the tariffs.
Tariffs are a perfect match for the USA where we can produce almost everything domestically. Wages will go up and employers will compete to attract and retain employees. The loss of cheap Chinese goods will hurt a bit but how much of that crap do we really need?
The Sanctions on Russia forced them to manufacture in country, and helped them to be independent and sometime when sanctions or BRICS functional, Russia is and will be in much better position than before sanctions. God Bless., Steve
Yes but they had a manufacturing base even before the sanctions. Also the Russian government encouraged manufacturing by controlling where investments go. So the question is, will US government direct capital towards manufacturing? Some of those investors will lose money and unfortunately, the US government is controlled by those corporations.
True but Russia also has a very socialist-like system for managing their economy. Tons of state owned assets that aren't in the hands of narrow private capitalist interests. I'd like to see Trump administration try wrangling our ruling elite but I don't think he has the balls to wage the real war: Class War.
Yeah, we can make more things in the US, but then we’ll need more workers… aka migrants. So every action has a reaction. As hard as the standard of living has fallen, it would be much worse if we didn’t have free trade and cheap goods from abroad.
Last week, Sergei Chemezov, Russian grey cardinal of the military and industrial complex, spoke at the session of the Federation Council of Russia, criticising the Central Bank of Russia and its head, Elvira Nabiullina, for high interest rates. Currently, the interest rate stands at 21 percent and is predicted to continue rising. Chemezov's corporation, reportedly receiving up to 80% of Russia's defence industry orders through his conglomerate Rostec, did hold back while giving speech at the Federation Council with “who is who” listening. According to Chemezov, if the current situation with high interest rates continues as is, most Russian companies will simply go bankrupt. However, he is not the only influential Russian businessman who has begun to protest against the given economic situation. Aleksei Mordashov, the owner of Severstal, one of the largest metal producers and ranked fourth in Forbes’ list of the richest, assessed that "the situation has gone too far" and that the high interest rate, which is expected to rise further according to Nabiullina, "hinders any development." Companies find it more beneficial to halt growth and even reduce production, choosing instead to put their money in deposits. Moreover, Mordashov is not just “an average entrepreneur” but has a significant influence. Until recently, he co-owned the bank Rossiya with Putin´s chums, including Gennady Timchenko, who still holds Finnish citizenship, and Yuri Kovalchuk, a close associate of Putin. Mordashov has also previously criticised tax increases on businesses. However, Igor Yurgens, deputy head of the Russian Union of Industrialists and Entrepreneurs, whose grandfather was born in Tallinn, sided with Nabiullina, stating directly: “If we think about all other sectors of the economy, give them loans as if nothing is happening, and lower interest rates for medium and large companies, inflation will accelerate. Then, the remaining 40 percent of our population who live on pensions or work in areas not tied to the mobilisation model will suffer great shortages. Ultimately, they will take to the streets because there will be no other solution.” The The Russian economy has reached a point where lowering interest rates would significantly increase real inflation, which is currently close to 30 percent. Raising interest rates further will hinder any growth while continuing to boost inflation as long as the funds continue to be directed into the Russian economy, whose defence industry can no longer significantly increase production and catch up with money flooding in. Thus, stagflation looms ahead, a situation where economic growth stalls amidst high inflation, and, according to Nabiullina, the only way out would be at the cost of a deep economic recession. In chess, this situation is called a zugzwang, where every move makes the situation worse.
Consumer electronics is where US consumers are really going to take it on the shorts. TVs, computers, cellphones, video game consoles, etc. don't have a domestic manufacturing industry or supply chain in the US. You'll just be paying more for all of them.
@@goldiefaun I'm an IT pro, you're thinking of consumers, there'll be a ripple effect if this happens. Businesses won't be able to upgrade their it because of the exorbitant prices for hardware, they'll be forced to use cloud providers and pay endless licenses and services. It's almost like it's by Design
That's why I would hold off on tariffs on electronics at first. The jobs we want to start getting back here as soon as possible are things made of metal....tools, hardware items, large and small appliances, bicycles, etc. Also, the old saw about 'certain nations having a natural advantage in producing certain things' does seem to apply in the case of Asian-made electronics...Oriental people just seem to have a knack for producing solid-state electronic items. (The same way the Germans and the Swiss do an outstanding job producing machine tools and precision instruments.)
Democrats complaining about tariffs have spent my whole life telling me raising taxes on corporations wouldn’t increase the prices for consumers. Now they’re telling me tariffs will.
A sales tax and tax on corporate income have different effects, a matter of logic and historical data. A tariff is a selective sales tax, not tax on corporate income.
In India 🇮🇳 we got Tariffs. In the 1970 to 80 we used to have 135% Tariffs on TV or music recorders from Japan and Dubai and Singapore. Those days China was not in picture. Today in 2024 Tariffs are much reduced.
So, with these tariffs, it would erode NAFTA? Would American companies return to the states despite costs such as taxes, labor etc. because as a whole it would be cheaper to operate?
Only if the tariffs are high enough. Bc manufacturing inside the US is already way more expensive so you’d have to match the difference or excede that. But that would shock consumers
We need people to manufacture here in our own economy what they did is hijack the whole economy by taking tax dollars and pumping up monopolies stocks while over charging government and what they do to not pay taxes is liquidate the value of the stock through a low intrest loan and most of the time they take that money and pump up the stocks even more causing inflation. So they create this artificially bloated stock market where they literally will rug pull the stock market and buy a bigger cut of the pie dort cheap because they topped out the market and now the banks and compaies will get bailouts after they cash out. When we bring back jobs here it actually creates a free flowing market where money is being circulated instead of being sucked up in a stock market stealing the value of the dollar.
Most trained economists think that tariffs are bad, because the most important thing for them is to have markets produce a lot of goods for the lowest possible price. Tariffs work against that (the crap at Walmart becomes more expensive). To appreciate the good side of tariffs, we have to balance the value of cheap goods with the value of people having good jobs (higher paying and more stable since employees are less replaceable). Tariffs improve the employment side of the economy, and increase domestic production. Tariffs will help the middle class afford to buy homes.
People should just call it what it is. "Fair trade." I'm kind of done with extreme rhetoric and labels used to alter and sway the mindset of citizens. In an attempt to continue to line the pockets of those who have created this problem in the first place.
Much better than what the Corporate Unipartarians used to call "Free Trade"...where other countries would charge us 20, 50, 100%...and we would charge 0. Free for the other countries...but not for us... Free Trade was NEVER reciprocal...
well it would be "fair trade" with China because they were already at a 25% Tariff on almost all of our goods (that weren't soybeans or pork) for at least a decade BEFORE Trump first came in. And then there's Mexico which just repackages a lot of China's stuff to exploit our NAFTA agreement, But it's not fair trade for Canada b/c unlike those other two countries, Canada actually adheres to import and labor laws
They dont know how money works its plain and simple our country is being robbed by oligarchs who take our tax dollars to pump up their stocks and we are way too relient of china who gives us dort cheap prices but they are using slave labor undercutting united states to conpete and thats why you have monoplies running the show they own media google and our politicians
What kills me is all these pundits saying "tariffs create trade wars" as though the war hadn't started with all the manufacturing jobs being shipped overseas to China etc
Most economists have been brainwashed by bad training and training that is focused on business interests always being the number one priority. There's always an excuse or a reason why anything favorable to the consumer will damage business, then damage the economy. And it's not that there are zero risks in this regard, it's that the offsetting improvements may be much greater than the downside. All of these things have pluses in minuses, pros and cons. The modern economist is usually only capable of outlining one side of the equation and the modern press certainly only transmits the bad news because they are brainwashed by the current orthodoxy.
Yeah but that wasn't a war, that was the West taking advantage of China's massive supply of recently urbanized cheap labor. China then took advantage right back, so all these people who crap on China for using their leverage, yet don't criticize the neoliberal economic system that created these conditions, are being very disingenuous imo.
According to my information, that's wrong. Tariffs are paid by importers to the government and the importers usually pass them on to the consumer, although they may absorb some of the increases themselves, or be held in check if there is some competition. Ask AI if you want the whole truth
Bro, I am already too poor to buy shit anyways. I couldn’t care less if it got more expensive if the trade off is less outsourcing of labor by American companies. And “experts” can try to gaslight all they want and say it doesn’t help but I don’t care.
Far better than income tax. Why should I work Monday and half of Tuesday for no money in my pocket? At least with tariffs I can choose to buy something or not.
@KassianAndor85 yep, except guess what? Companies will look at building their products in America. And, again, I can choose to forego the brand new iPhone because I don't need it, whereas right now, I work Monday and half of Tuesday for free, regardless of my choice, because I already get taxed on my income. I'd rather pay a tariff than an income tax. Again, I can choose to buy an imported good, I cannot choose to not pay income tax.
The monopoly prices are the thing that draws more domestic competitors. Just remove barriers to entry (like tax/compliance issues) and you’ll naturally create the domestic production you desire
If domestic companies charge higher prices to take gains from tariffs, another domestic producer of similar goods may enter the market and drive all prices down for US consumers .
Missing dynamic, balance of trade deficit is recycled back into treasuries close to 100%. Gains are taxed at much lower rates. The government incentivises off shoulring.
@@ronstephen-wy4ib Nonsense. Tariffs are basic economics, something you obviously have no knowledge of. So maybe either do some real research or go back to the bluesky trumpbad media good circle of jerkage.
In India 🇮🇳 Tariffs work when you subsidies the local manufacturers and promote local products. So the same foreign manufacturers start to manufacture in India. Today we have all the Japanese abd Koreans making Cars and electronics
The China tariffs created thousands of jobs in Mexico of all places. They simply routed their unfinished products to Mexico to be 'finished' or assembled near the border, then driven into Texas/New Mexico. That's the oversimplified version anyway.
One wonders whether those charged with enforcing the laws around anti-competitive pricing even have the skills to do it anymore. Under globalization, except for occasional show trials, they rarely do anything. It's usually political more than economic. Like now they want Google to spin off Chrome. I get that it is a dominant provider, but there's no actual price competition because the software is free, most of its functionality is available open source. But in places where there could be price competition, they let monopolies, and oligopolies go unchallenged.
Good for US labor if they don't have to compete with slave labor. Working people will be able to afford price increases, but it could be brutal for people on fixed incomes.
What is missing from this conversation is that the revenue from tariffs will be used to reduce income taxes for ALL Americans. So even if prices on certain imported items go up, it will be a huge net benefit. Not to mention many people will choose substitute items that are not imported, thereby bolstering the US economy and adding domestic jobs. Signed, a CPA/economist and political independent.
Brother most of our domestic grocery produce is imported. Is the average American consumer going to just tolerate a 25% price hike and availability shock on everything from strawberries to cucumbers? I thought this election was about prices at the grocery store.
I’ve seen you spamming the same thing everywhere. If you think the taxes won’t just reduce for the wealthiest people, you were asleep the first 4 years.
@@vidalgutierrez1736 Umm, no. Take a look at the 2017 tax cut before and after IRS tax tables for EVERY income level. They were lowered for EVERY income level. So shut your ignorant, uneducated mouth and stop lying because you know nothing on this subject.
50% of the country doesn't even qualify above the Poverty line anymore.... how do tax cuts help those people when they're already about to feel the Tariff a lot harder than your cushy middle-bracket Tax-qualifying arse will??
@ I remember it, I received it. While millionaires got hundreds of thousands of reduced taxed - I and people in my tax bracket got the equivalent of a few pizzas. And the budget for that year only increased the country’s debt
Im from Brazil and tarrifs usually do cause price inflation. This year for example, the prices of iron ore dropped worldwide, so a few iron industries went to the goverment and lobbied to increase tax on imported iron from 15% to 25%, claming it would protect the 80k jobs from their industries. The problem is that has harmfull effects other areas, like increasing prices in car manufacturing (which has 120k jobs btw), and some of those affected areas dont have a good enough profit margin to absorb the price difference. BTW, we already pay 37-44% tax on cars, a Toyota Corolla costs around 120x our minimum wage. In the end, tarrifs protects some billionaires, a few thousand regular jobs, and increase goverment revenue by a lot, but the majority of the population pays the price.
*Matt's example of a washer/dryer seller facing a tariff on washer imports but not dryer imports, yet they raised the prices of dryers as well isn't a valid argument. The seller simply lost money due to less sales on the washer due to higher prices and in order to recoup their losses, they raised their prices on the dryer as well.*
Domestic industry needs to be subsidized/assisted to grow first before the tarrifs are implemented. Domestic competition should be in existence before tarrifs are implemented. Tarrifs with our current monopoly or oligopoly just means higher prices for everyone.
Government taxes and regulations caused manufacturing to go overseas, so now we we have to use government to set tariffs to make overseas goods more expensive, but now we've created higher prices and monopolies, so we need government to get more involved with the market to stop monopolies, and then a new problem will be cause by government that government will have to solve which will create a new problem that government has to solve which will create a new problem that government has to solve which will cause a new problem that government will have to solve.... OR we could just free the market, which caused the manufacturing to leave in the first place due to costs being too high. More government is never the answer.
Tarrifs are charges /tax that the importer pays to the US government, NOT to the overseas manufacturer/seller or government. The importer of the overseas product can then pass the whole cost of the tariff/tax to the consumer/local buyer as a price increase, or a proportionof the tax if he is willing to reduce his profit margin. Which ever is the case, the US government collects from the importer the full amount of the tariff. Matt Stoller seems to have some problem with that simple fact....
This analysis seems shallow. In the example of the washing machiene they probably raised prices on both to suppory the capex of building a new factory. Capital to build a factor doesnt just fall from the money tree they had to raise prices to fund the financing of the factories most probably.
INSTEAD OF TRUMPS TARIFFS ON THE GLOBAL COMMUNITY, THE QUESTION IS HOW ARE AMERICAN COMPANIES GOING TO HAVE ACCESS TO THESE FEATURE GLOBAL SOUTH MARKETS WITH RISING POPULATIONS AND EMERGING ECONOMIES LEADING GLOBAL ECONOMIC GROWTH FOR THE NEXT 50 TO 100 YEARS.
HERE IS THE PROBLEM FOR US AMERICAN BUSINESSES . WE AMERICANS ARE ONLY 336 MILLION PEOPLE IN A WORLD OF 8 BILLION PEOPLE. WE HAVE A MASSIVE GOVERNMENT AND CONSUMER DEBT INFLATION WHICH HAS LEAD TO DECREASING OUR PURCHASING PARITY.. OUR MARKET IS PEANUT IN COMPARISON TO THE GLOBAL MARKET OF 7.6 BILLION PEOPLE. OTHER NATIONS ARE GOING TO RETALIATE AND EVEN CLOSE THEIR MARKETS TO AMERICAN BUSINESSES. THIS WILL MAKE AMERICAN MADE GOODS MORE EXPENSIVE IN THESE DEVELOPING MARKETS LEADING TO LOSS OF GLOBAL MARKET SHEAR.I THIS IS PURE ECONOMIC LUNACY TO EVEN THINK WE AMERICANS 336 MILLION PEOPLE MARKET IS MORE IMPORTANT THAN THE GLOBAL MARKET OF 7.6 BILLION PEOPLE MARKET.
Well, I think you missed some of the subtlety which is the big problem that we have in this world: monopolies and oligopolies. You also missed the point he made about prices eventually coming back down. But even if they cause some price increasing, they force manufacturing back which means more people can have decent jobs, this will eventually have much more benefit to the economy than temporary or small price increase. And tariffs can be removed, or reduce with the threat, yes the threat, that exporting jobs and reimporting products will results in the tariffs going back up.
Taking restrictions off the oil industry will reenergize energy reducing transportation cost helping everyone, the car industry will be revived without EV mandates, manufacturing will increase, tariffs won't matter a bit
Tariffs are a negotiating tool to get the other countries around the world to lower theirs. If France wants to charge the US a 50% tariff of US automobiles...then we charge them a 50% tariff on wine and cheese. Next thing you know...Macron is dropping his tariffs on cars. And we drop our tariffs on wine and cheese. For far too long US trade reps give deference to "developing" nations or "lesser" nations. So the American taxpayer gets screwed. The goal is to get to an actual Free Trade position...on both sides. Or at the very least...Reciprocal Trade with an equal $ amount to both countries...protecting the American consumer.
Isn’t the idea that the government could be minimized and then funded by tariffs rather than taxing Americans half their income? Tarrifs are one aspect of a bigger plan.
The funniest outcome would be if Trump does another round of tariffs that increase inflation and enable price gouging(and it would be both) **and** keeps sending billions to Ukraine and Israel.
Language is important. The tariff work is really USA corporate vs Trump not other countries. Trump should take political risk to say we cannot compete without some restraint by the govt in the market.... every body our competitors are doing it. Now you are blaming the consumer.
Where do people think the money is going to come from to invest in all these new domestic production projects? Global capitalism is here to stay regardless of economic gimmicks that Trump decides to implement for his political populism.
When they impose tariffs, they hope that they will do a lot of deregulating to allow easier competition. However tariffs are very complex, and it is unclear how countries will react to your tariffs on their imports. It's double-edge sword.
😂😂😂😂😂 We already found out long before Trump ever took office. B Clinton's subprime lending policies created th 08 crisis tanked the economy and made home market expensive and unstable, then Obama went with quanitive easing 😂😂😂😂😂 money printing really got the national debt skyrocketing Trump tried to tell people not to respond to covid hysterically. How 16 Trillion for a flu made sense. 😂😂😂😂 these things😂 are annoying 😂😂😂 35 Trillion in debt but it's OK because ...Modern Monetary Theory . So the US entered the " find out" portion a long time ago. 😂😂😂😂😂😂😂😂😂😂😂😂😂😂
Glenn you are loved by numerous people. Don't forget that you can lose all the love and respect in a blink of eye. Remember what happened to Christopher Hichens.
Yeah, that was very close to how I perceive the topic. Excellent take (not so much because I agree, but because he said it in a very simple and easy to understand way.) I've heard his name before, now I have to research his content.
How can tariffs not raise prices? Tariffs impose additional costs on foreign manufactured goods. Who pays these costs? It can be argued that over time domestic production will improve and in the longer term prices will go down. But in the short term higher prices seem inevitable.
Look I trust Trump, even is prices come up a little for a short time I Trust Trump will get them down and meet his goal. I don't trust politicians ever but Trump is not in that box IMHO
You trust the guy that ran a fake university which targeted veterans and senior citizens? Not to mention Trump already was POTUS, so he is in fact a politician. A politician who sold positions within his administration and made political favors in exchange for campaign contributions. Like in the case with Sheldon Adelson.
We can handle the tariffs if we shut down the EPA, DOE, DOI, USDA, DOC, DOL, DOT & IRS. I may have missed a couple, but if we do first things first, we may be able to weather the tariffs.
She would would ignore it. Just like she ignored how bad of an idea the new economic theory of just printing money to finance spending bills instead of borrowing.
Yes tarrifs are bad ECONOMICALLY, but that is not the extent of our lives. That is one of the issues with free trade capitalism. Look at the opiate crisis, yeah we made more on a bottom dollar account ECONOMICALLY by shipping jobs overseas. But the fact is that life is not just about money, there are more things like self worth etc to a job than money. If you value an industry simply on dollars maybe tariffs dont make sense, but if you value a job and an industry as more than just money, than i think they do make sense.
Yes!...how many Americans will we be able to get OFF the welfare rolls and ON the tax rolls if we bring millions of decent manufacturing jobs back here?!
Not to worry, if Trump jacks tariffs up 60% on the stuff you need and buy Walmart and Target will be happy to eat that additional cost and not pass it on to you.
i live in indonesia with high tariffs on imports ..it generates a non competitive environment with low quality products with built in obsolescence at higher prices than a competitive price would be
Tariff raising prices on one good, causing companies to raise prices on everything, is PROOF that tariffs cause prices to rise. Who is paying you to spit this drivel, Matt? It's weird seeing all these unexpected people start cowtowing to Trump.
Tariffs inevitably cause prices to increase. If Trump and the Republicans in Congress really cared about inflation it wouldn't levy tariffs as a way to start a conflict with adversaries and allies alike.
Stoller misses the key point: the USA does not manufacture most of the consumer products that would be covered by broad, general tariffs such as Trump proposes to use. Stoller is only stressing targeted tariffs such as EVs. He also musses the inflationary effect of tariffs on materials such as steel, that raise the input costs or manufacturing. Sorry, but he is not really qualified to explain the problems here, clearly he is not an economist and doesn't really know what TF he is discussing in this case. Stick to politics Matt, you are out of your depth here.
Not True if a company just adds tons of cost to a product the product will not sell or not nearly as much. what this guy is leaving out, all exports from the USA are Tariffed very heavy.
Oh come on, Glenn, you don't need a PhD in economics to understand who's going to be paying for these tariffs. We consumers! These tariffs won't bring manufacturing back, and we don't make enough of our own stuff to just "buy American." Nothing good is going to come from these tariffs. Nothing.
I live in Thailand where the tariff on cars is up to 200% (you should see the crazy prices on a basic mustang!). What happens is most people buy the cars that have manufacturing in Thailand since they are much cheaper and the imported cars are now more of a luxury/status item.
If tarrifs are imposed we may actually see more American businesses in response.
Yep. And because Thailand has such high tariffs on imported cars even companies that are not Thai (I don't think there are any Thailand Car Companies) still build in Thailand to bypass the tariffs.
Thanks for the first reasonable discussion I've heard on the subject.
Except Stoller doesn't know what TF he is talking about here.
Tariffs are a perfect match for the USA where we can produce almost everything domestically. Wages will go up and employers will compete to attract and retain employees. The loss of cheap Chinese goods will hurt a bit but how much of that crap do we really need?
Trump/Vance have praised Lena Khan, so let's hope they keep her on the job! 🤟
The Sanctions on Russia forced them to manufacture in country, and helped them to be independent and sometime when sanctions or BRICS functional, Russia is and will be in much better position than before sanctions.
God Bless., Steve
Yes but they had a manufacturing base even before the sanctions. Also the Russian government encouraged manufacturing by controlling where investments go. So the question is, will US government direct capital towards manufacturing? Some of those investors will lose money and unfortunately, the US government is controlled by those corporations.
True but Russia also has a very socialist-like system for managing their economy. Tons of state owned assets that aren't in the hands of narrow private capitalist interests.
I'd like to see Trump administration try wrangling our ruling elite but I don't think he has the balls to wage the real war: Class War.
@nusaibahibraheem8183 you nailed it
Yeah, we can make more things in the US, but then we’ll need more workers… aka migrants. So every action has a reaction. As hard as the standard of living has fallen, it would be much worse if we didn’t have free trade and cheap goods from abroad.
Last week, Sergei Chemezov, Russian grey cardinal of the military and industrial complex, spoke at the session of the Federation Council of Russia, criticising the Central Bank of Russia and its head, Elvira Nabiullina, for high interest rates. Currently, the interest rate stands at 21 percent and is predicted to continue rising. Chemezov's corporation, reportedly receiving up to 80% of Russia's defence industry orders through his conglomerate Rostec, did hold back while giving speech at the Federation Council with “who is who” listening.
According to Chemezov, if the current situation with high interest rates continues as is, most Russian companies will simply go bankrupt. However, he is not the only influential Russian businessman who has begun to protest against the given economic situation. Aleksei Mordashov, the owner of Severstal, one of the largest metal producers and ranked fourth in Forbes’ list of the richest, assessed that "the situation has gone too far" and that the high interest rate, which is expected to rise further according to Nabiullina, "hinders any development." Companies find it more beneficial to halt growth and even reduce production, choosing instead to put their money in deposits.
Moreover, Mordashov is not just “an average entrepreneur” but has a significant influence. Until recently, he co-owned the bank Rossiya with Putin´s chums, including Gennady Timchenko, who still holds Finnish citizenship, and Yuri Kovalchuk, a close associate of Putin. Mordashov has also previously criticised tax increases on businesses.
However, Igor Yurgens, deputy head of the Russian Union of Industrialists and Entrepreneurs, whose grandfather was born in Tallinn, sided with Nabiullina, stating directly:
“If we think about all other sectors of the economy, give them loans as if nothing is happening, and lower interest rates for medium and large companies, inflation will accelerate. Then, the remaining 40 percent of our population who live on pensions or work in areas not tied to the mobilisation model will suffer great shortages. Ultimately, they will take to the streets because there will be no other solution.”
The The Russian economy has reached a point where lowering interest rates would significantly increase real inflation, which is currently close to 30 percent. Raising interest rates further will hinder any growth while continuing to boost inflation as long as the funds continue to be directed into the Russian economy, whose defence industry can no longer significantly increase production and catch up with money flooding in.
Thus, stagflation looms ahead, a situation where economic growth stalls amidst high inflation, and, according to Nabiullina, the only way out would be at the cost of a deep economic recession. In chess, this situation is called a zugzwang, where every move makes the situation worse.
Consumer electronics is where US consumers are really going to take it on the shorts. TVs, computers, cellphones, video game consoles, etc. don't have a domestic manufacturing industry or supply chain in the US. You'll just be paying more for all of them.
maybe ditch them
none of those things are necessary except phones
Sounds like a great opportunity for once great American electronic companies like RCA or Magnavox to make a return.
@@goldiefaun I'm an IT pro, you're thinking of consumers, there'll be a ripple effect if this happens. Businesses won't be able to upgrade their it because of the exorbitant prices for hardware, they'll be forced to use cloud providers and pay endless licenses and services. It's almost like it's by Design
That's why I would hold off on tariffs on electronics at first. The jobs we want to start getting back here as soon as possible are things made of metal....tools, hardware items, large and small appliances, bicycles, etc. Also, the old saw about 'certain nations having a natural advantage in producing certain things' does seem to apply in the case of Asian-made electronics...Oriental people just seem to have a knack for producing solid-state electronic items. (The same way the Germans and the Swiss do an outstanding job producing machine tools and precision instruments.)
I see this all the time across multiple industries. Companies really aren't being blamed as much as they should be.
Democrats complaining about tariffs have spent my whole life telling me raising taxes on corporations wouldn’t increase the prices for consumers. Now they’re telling me tariffs will.
Exactly.
A sales tax and tax on corporate income have different effects, a matter of logic and historical data. A tariff is a selective sales tax, not tax on corporate income.
In India 🇮🇳 we got Tariffs. In the 1970 to 80 we used to have 135% Tariffs on TV or music recorders from Japan and Dubai and Singapore. Those days China was not in picture. Today in 2024 Tariffs are much reduced.
So, with these tariffs, it would erode NAFTA? Would American companies return to the states despite costs such as taxes, labor etc. because as a whole it would be cheaper to operate?
Only if the tariffs are high enough. Bc manufacturing inside the US is already way more expensive so you’d have to match the difference or excede that. But that would shock consumers
We need people to manufacture here in our own economy what they did is hijack the whole economy by taking tax dollars and pumping up monopolies stocks while over charging government and what they do to not pay taxes is liquidate the value of the stock through a low intrest loan and most of the time they take that money and pump up the stocks even more causing inflation. So they create this artificially bloated stock market where they literally will rug pull the stock market and buy a bigger cut of the pie dort cheap because they topped out the market and now the banks and compaies will get bailouts after they cash out. When we bring back jobs here it actually creates a free flowing market where money is being circulated instead of being sucked up in a stock market stealing the value of the dollar.
Get some economics people on the show to talk about tariffs
“experts” if you will
Jeffrey Sachs
@@Silvisss266 Professor Michael Hudson.
Exactly, Stoller is talking BS.
Most trained economists think that tariffs are bad, because the most important thing for them is to have markets produce a lot of goods for the lowest possible price. Tariffs work against that (the crap at Walmart becomes more expensive). To appreciate the good side of tariffs, we have to balance the value of cheap goods with the value of people having good jobs (higher paying and more stable since employees are less replaceable). Tariffs improve the employment side of the economy, and increase domestic production. Tariffs will help the middle class afford to buy homes.
People should just call it what it is. "Fair trade."
I'm kind of done with extreme rhetoric and labels used to alter and sway the mindset of citizens. In an attempt to continue to line the pockets of those who have created this problem in the first place.
Much better than what the Corporate Unipartarians used to call "Free Trade"...where other countries would charge us 20, 50, 100%...and we would charge 0. Free for the other countries...but not for us...
Free Trade was NEVER reciprocal...
@@freedomrings.0007 100%. You nailed it.
well it would be "fair trade" with China because they were already at a 25% Tariff on almost all of our goods (that weren't soybeans or pork) for at least a decade BEFORE Trump first came in. And then there's Mexico which just repackages a lot of China's stuff to exploit our NAFTA agreement, But it's not fair trade for Canada b/c unlike those other two countries, Canada actually adheres to import and labor laws
There is nothing fair in the coporate or government system the public always takes it on the chin
They dont know how money works its plain and simple our country is being robbed by oligarchs who take our tax dollars to pump up their stocks and we are way too relient of china who gives us dort cheap prices but they are using slave labor undercutting united states to conpete and thats why you have monoplies running the show they own media google and our politicians
You can bet the exact opposite of what experts are saying will happen. Tariffs are a bargaining tool.
Much like the expert "pollers"...guess work is all it is.
A bully tool. A motivation for lots of countries to organize against the US.
Other countries can raise tariffs, too. And they can go aggressively against US software products. Why shouldn't they?
What kills me is all these pundits saying "tariffs create trade wars" as though the war hadn't started with all the manufacturing jobs being shipped overseas to China etc
Trump himself has all his things made in China.
Even as he was running for president, and when he was president, lol.
It’s not a war when only one side seems to fight. Lol. We lost decades ago.
Most economists have been brainwashed by bad training and training that is focused on business interests always being the number one priority. There's always an excuse or a reason why anything favorable to the consumer will damage business, then damage the economy. And it's not that there are zero risks in this regard, it's that the offsetting improvements may be much greater than the downside. All of these things have pluses in minuses, pros and cons. The modern economist is usually only capable of outlining one side of the equation and the modern press certainly only transmits the bad news because they are brainwashed by the current orthodoxy.
Yeah but that wasn't a war, that was the West taking advantage of China's massive supply of recently urbanized cheap labor. China then took advantage right back, so all these people who crap on China for using their leverage, yet don't criticize the neoliberal economic system that created these conditions, are being very disingenuous imo.
According to my information, that's wrong. Tariffs are paid by importers to the government and the importers usually pass them on to the consumer, although they may absorb some of the increases themselves, or be held in check if there is some competition. Ask AI if you want the whole truth
Great piece, thanks Glenn. 👍
Bro, I am already too poor to buy shit anyways. I couldn’t care less if it got more expensive if the trade off is less outsourcing of labor by American companies. And “experts” can try to gaslight all they want and say it doesn’t help but I don’t care.
Facts, plus Trump says he wants higher tariffs and lower or no income tax. I'll take that trade all day.
In the end, these price hikes only work if people still buy their shit.
Yeah who needs 80% of your vegetables anyway. Just eat Corn 🌽
@ was thinking more the electronic goods but yeah. Food is necessary.
@@CG-bv4ofVegetables are unironically bad for you lol
I love you my guy Jew brother
Well tariffs aren't positive, mainly because the final consumer is the one who pays.
Far better than income tax. Why should I work Monday and half of Tuesday for no money in my pocket? At least with tariffs I can choose to buy something or not.
@bellingdog 😂😂 that's sweet... It's going to have an impact on every good u buy genius, from iphones to groceries to everything u get on Amazon...
@KassianAndor85 yep, except guess what? Companies will look at building their products in America. And, again, I can choose to forego the brand new iPhone because I don't need it, whereas right now, I work Monday and half of Tuesday for free, regardless of my choice, because I already get taxed on my income. I'd rather pay a tariff than an income tax. Again, I can choose to buy an imported good, I cannot choose to not pay income tax.
The monopoly prices are the thing that draws more domestic competitors. Just remove barriers to entry (like tax/compliance issues) and you’ll naturally create the domestic production you desire
If domestic companies charge higher prices to take gains from tariffs, another domestic producer of similar goods may enter the market and drive all prices down for US consumers .
Missing dynamic, balance of trade deficit is recycled back into treasuries close to 100%. Gains are taxed at much lower rates. The government incentivises off shoulring.
In Brazil tariffs for foreign products is the norm. The effect is exactly what the guy described. Prepare to pay $50k+ in a basic Chevrolet Malibu.
or 6k usd for a MacBook. But don't Worry!That's sure gonna bring back the computer building industry to your country 😂
or move manufacturing/create manufacturing in the states god forbid
@@iurysza me thinks you will be eating crow
That's not what will happen. You're headed for shortages and poverty.
@@ronstephen-wy4ib Nonsense. Tariffs are basic economics, something you obviously have no knowledge of. So maybe either do some real research or go back to the bluesky trumpbad media good circle of jerkage.
In India 🇮🇳 Tariffs work when you subsidies the local manufacturers and promote local products.
So the same foreign manufacturers start to manufacture in India. Today we have all the Japanese abd Koreans making Cars and electronics
The China tariffs created thousands of jobs in Mexico of all places. They simply routed their unfinished products to Mexico to be 'finished' or assembled near the border, then driven into Texas/New Mexico.
That's the oversimplified version anyway.
Tariff all imports
One wonders whether those charged with enforcing the laws around anti-competitive pricing even have the skills to do it anymore. Under globalization, except for occasional show trials, they rarely do anything. It's usually political more than economic. Like now they want Google to spin off Chrome. I get that it is a dominant provider, but there's no actual price competition because the software is free, most of its functionality is available open source. But in places where there could be price competition, they let monopolies, and oligopolies go unchallenged.
Good for US labor if they don't have to compete with slave labor. Working people will be able to afford price increases, but it could be brutal for people on fixed incomes.
Maybe that why Trump has been saying no tax on SS. Then downsize the government in magnitude.
The Smoot/Hawley tariffs are in-part blamed for the great depression. Tariffs are a tax on the consumer, not the producer.
Whereas income tax is a tax on productivity, not spending.... so income tax decreases productivity. Tariffs decrease sales from external producers.
What is missing from this conversation is that the revenue from tariffs will be used to reduce income taxes for ALL Americans. So even if prices on certain imported items go up, it will be a huge net benefit. Not to mention many people will choose substitute items that are not imported, thereby bolstering the US economy and adding domestic jobs.
Signed, a CPA/economist and political independent.
Brother most of our domestic grocery produce is imported. Is the average American consumer going to just tolerate a 25% price hike and availability shock on everything from strawberries to cucumbers? I thought this election was about prices at the grocery store.
I’ve seen you spamming the same thing everywhere. If you think the taxes won’t just reduce for the wealthiest people, you were asleep the first 4 years.
@@vidalgutierrez1736 Umm, no. Take a look at the 2017 tax cut before and after IRS tax tables for EVERY income level. They were lowered for EVERY income level. So shut your ignorant, uneducated mouth and stop lying because you know nothing on this subject.
50% of the country doesn't even qualify above the Poverty line anymore.... how do tax cuts help those people when they're already about to feel the Tariff a lot harder than your cushy middle-bracket Tax-qualifying arse will??
@ I remember it, I received it. While millionaires got hundreds of thousands of reduced taxed - I and people in my tax bracket got the equivalent of a few pizzas. And the budget for that year only increased the country’s debt
I support orange Jesus (trump)…..
Tariff all imports. Bring manufacturing here
Who’s going to pay to bring the manufacturing here? You’re missing the forest for the trees here
Jesus, Matt Stoller just told us 2 simple things I learned in high school about tariffs and it took him 15 minutes to do it. SMFH
The video was 5 minutes though
@@jacobnelson6042 Watched it at 1/3 speed.
@@jacobnelson6042It felt like 15.
Bring on Richard Wolff .
Nah, Ron Paul
And get a completely wrong analysis? Great idea
Stupid, jealous or troll?
just what i was thinking ..love Prof Wollf❤
The communist Professor? 🤤
Get Professor Richard Wolff
Im from Brazil and tarrifs usually do cause price inflation. This year for example, the prices of iron ore dropped worldwide, so a few iron industries went to the goverment and lobbied to increase tax on imported iron from 15% to 25%, claming it would protect the 80k jobs from their industries. The problem is that has harmfull effects other areas, like increasing prices in car manufacturing (which has 120k jobs btw), and some of those affected areas dont have a good enough profit margin to absorb the price difference.
BTW, we already pay 37-44% tax on cars, a Toyota Corolla costs around 120x our minimum wage.
In the end, tarrifs protects some billionaires, a few thousand regular jobs, and increase goverment revenue by a lot, but the majority of the population pays the price.
*Matt's example of a washer/dryer seller facing a tariff on washer imports but not dryer imports, yet they raised the prices of dryers as well isn't a valid argument. The seller simply lost money due to less sales on the washer due to higher prices and in order to recoup their losses, they raised their prices on the dryer as well.*
Exactly. Unqualified.
So they saw that raising prices on the washer resulted in less sales, then said "we wanna sell less dryers too, let's raise the price!"?
@@banksta3elastic and inelastic demand curves are a thing so yes
That was a convoluted nothing burger. Was hoping for real insight into the effects of tariffs. That wasn’t it.
Domestic industry needs to be subsidized/assisted to grow first before the tarrifs are implemented. Domestic competition should be in existence before tarrifs are implemented. Tarrifs with our current monopoly or oligopoly just means higher prices for everyone.
Economics is not science.
So, prices are going up, embrace for more inflation.
The economic consensus across the board. Elon said "there will be hardship." Why are people pretending anything but other than to cope.
@@synergygaming604he said that in the context of cutting jobs in the federal bureaucracy, not tariffs.
Government taxes and regulations caused manufacturing to go overseas, so now we we have to use government to set tariffs to make overseas goods more expensive, but now we've created higher prices and monopolies, so we need government to get more involved with the market to stop monopolies, and then a new problem will be cause by government that government will have to solve which will create a new problem that government has to solve which will create a new problem that government has to solve which will cause a new problem that government will have to solve....
OR we could just free the market, which caused the manufacturing to leave in the first place due to costs being too high. More government is never the answer.
Im ready ive got so much gold and guns.
The financial bros hating tariffs is a reason to love tariffs
spiteful politics only gets you so far
Looks like Mexico China Canada will have to cut prices to be competitive
Tariffs are bad but allowing American companies gouge prices and blame it on inflation...
Well endless money printing does cause insane inflation as well.
I domt care about prices if i dont have a job.
It would be nice to afford food.
Hey Glenn do you shop with Walmart or Amazon? Talk about addressing the problem at the root. ? .
Are tariffs on foreign workers legal?
Tarrifs are charges /tax that the importer pays to the US government, NOT to the overseas manufacturer/seller or government. The importer of the overseas product can then pass the whole cost of the tariff/tax to the consumer/local buyer as a price increase, or a proportionof the tax if he is willing to reduce his profit margin. Which ever is the case, the US government collects from the importer the full amount of the tariff. Matt Stoller seems to have some problem with that simple fact....
Blanket Tariffs on products America has no capacity to produce will result in just more expensive products for Americans. Get a clue MAGA 🐑🐑🐑
This analysis seems shallow. In the example of the washing machiene they probably raised prices on both to suppory the capex of building a new factory. Capital to build a factor doesnt just fall from the money tree they had to raise prices to fund the financing of the factories most probably.
I mean it kind of does, many of these companies can borrow money at nearly 0%
INSTEAD OF TRUMPS TARIFFS ON THE GLOBAL COMMUNITY, THE QUESTION IS HOW ARE AMERICAN COMPANIES GOING TO HAVE ACCESS TO THESE FEATURE GLOBAL SOUTH MARKETS WITH RISING POPULATIONS AND EMERGING ECONOMIES LEADING GLOBAL ECONOMIC GROWTH FOR THE NEXT 50 TO 100 YEARS.
Simple America just imports other populations into its own
HERE IS THE PROBLEM FOR US AMERICAN BUSINESSES . WE AMERICANS ARE ONLY 336 MILLION PEOPLE IN A WORLD OF 8 BILLION PEOPLE. WE HAVE A MASSIVE GOVERNMENT AND CONSUMER DEBT INFLATION WHICH HAS LEAD TO DECREASING OUR PURCHASING PARITY.. OUR MARKET IS PEANUT IN COMPARISON TO THE GLOBAL MARKET OF 7.6 BILLION PEOPLE. OTHER NATIONS ARE GOING TO RETALIATE AND EVEN CLOSE THEIR MARKETS TO AMERICAN BUSINESSES. THIS WILL MAKE AMERICAN MADE GOODS MORE EXPENSIVE IN THESE DEVELOPING MARKETS LEADING TO LOSS OF GLOBAL MARKET SHEAR.I THIS IS PURE ECONOMIC LUNACY TO EVEN THINK WE AMERICANS 336 MILLION PEOPLE MARKET IS MORE IMPORTANT THAN THE GLOBAL MARKET OF 7.6 BILLION PEOPLE MARKET.
Shortages and higher prices. Economics 101
"Tariffs don't cause price rises" (then goes on to explain how tariffs cause rise prices ).
It’s intellectual yet idiot . Glen clearly likes trump. So much for being educated.
*then goes on to explain his own policy niche is the only one that has any consequence in the world.
Well, I think you missed some of the subtlety which is the big problem that we have in this world: monopolies and oligopolies. You also missed the point he made about prices eventually coming back down. But even if they cause some price increasing, they force manufacturing back which means more people can have decent jobs, this will eventually have much more benefit to the economy than temporary or small price increase. And tariffs can be removed, or reduce with the threat, yes the threat, that exporting jobs and reimporting products will results in the tariffs going back up.
Taking restrictions off the oil industry will reenergize energy reducing transportation cost helping everyone, the car industry will be revived without EV mandates, manufacturing will increase, tariffs won't matter a bit
Tariffs are a negotiating tool to get the other countries around the world to lower theirs. If France wants to charge the US a 50% tariff of US automobiles...then we charge them a 50% tariff on wine and cheese. Next thing you know...Macron is dropping his tariffs on cars. And we drop our tariffs on wine and cheese. For far too long US trade reps give deference to "developing" nations or "lesser" nations. So the American taxpayer gets screwed. The goal is to get to an actual Free Trade position...on both sides. Or at the very least...Reciprocal Trade with an equal $ amount to both countries...protecting the American consumer.
So will ending the war in the Ukraine by bring Russian oil and gas back onto an unrestricted world market!
Read "Trade Wars are Class Wars" by Michael Pettis.
You have a soft spot for certain guests that don’t bring anything to the table. Matt stoller is one of them. Sorry but this episode is total wash.
My thoughts exactly.
Isn’t the idea that the government could be minimized and then funded by tariffs rather than taxing Americans half their income? Tarrifs are one aspect of a bigger plan.
Makes no sense to me .. if the price of something you bought just got 25% higher the importer has and must increase the price by 25% …
Ok that delivered 0 insight into tariffs
The funniest outcome would be if Trump does another round of tariffs that increase inflation and enable price gouging(and it would be both) **and** keeps sending billions to Ukraine and Israel.
Glenn greenwald and the rest of the alternative mainstream media will just blame it on the democrats
Funny to who?
@@cyberft
To some evil Gods out there I’m sure 😂 You gotta be dark man what can I say
Hey congratulations on using *and* four times in one sentence!
That's quite an achievement!! Well done.
@@arottie4097 Thandk you.
BIC (french) lobbies FTC to increase tariffs on Chinese lighters.
Language is important. The tariff work is really USA corporate vs Trump not other countries. Trump should take political risk to say we cannot compete without some restraint by the govt in the market.... every body our competitors are doing it. Now you are blaming the consumer.
and ofcourse he wont have an aggressive anti trust regime because there are too many donors that dont want that
Profit grab is euphemism for greed.
Where do people think the money is going to come from to invest in all these new domestic production projects? Global capitalism is here to stay regardless of economic gimmicks that Trump decides to implement for his political populism.
Tariffs are way of
Force never solved anything ... is that what your saying ? 😉
Causes cost changes but not price !
This guy is in coco land
If what Matt says is true, I think Trump and the people around him already know this. It does make sense.
So basically, there’s no way around it tariffs raise prices
“ profit grab “ there you go , you accidentally made sense for a moment; tariffs eat profit margins first !
When they impose tariffs, they hope that they will do a lot of deregulating to allow easier competition. However tariffs are very complex, and it is unclear how countries will react to your tariffs on their imports. It's double-edge sword.
American entering the Find out Portion. 😂😂😂
😂😂😂😂😂 We already found out long before Trump ever took office. B Clinton's subprime lending policies created th 08 crisis tanked the economy and made home market expensive and unstable, then Obama went with quanitive easing 😂😂😂😂😂 money printing really got the national debt skyrocketing Trump tried to tell people not to respond to covid hysterically. How 16 Trillion for a flu made sense. 😂😂😂😂 these things😂 are annoying 😂😂😂 35 Trillion in debt but it's OK because ...Modern Monetary Theory . So the US entered the " find out" portion a long time ago. 😂😂😂😂😂😂😂😂😂😂😂😂😂😂
I live in Canada and everyone (government) is having a shit fit about tariffs
Relax.
No one cars about Canada.
@@mikepalmer1971Doesn't Canada import from the US, however?
Services, machinery, vehicles, agricultural products - you may be in for a surprise.
@ I was being silly but my silly sarcasm did not work in text form. Lol.
@3;00, lip biting tell.
Guest uses Consequentialist Arguments.
Glenn you are loved by numerous people. Don't forget that you can lose all the love and respect in a blink of eye.
Remember what happened to Christopher Hichens.
Yeah, that was very close to how I perceive the topic. Excellent take (not so much because I agree, but because he said it in a very simple and easy to understand way.) I've heard his name before, now I have to research his content.
How can tariffs not raise prices? Tariffs impose additional costs on foreign manufactured goods. Who pays these costs?
It can be argued that over time domestic production will improve and in the longer term prices will go down. But in the short term higher prices seem inevitable.
Look I trust Trump, even is prices come up a little for a short time I Trust Trump will get them down and meet his goal. I don't trust politicians ever but Trump is not in that box IMHO
You trust the guy that ran a fake university which targeted veterans and senior citizens? Not to mention Trump already was POTUS, so he is in fact a politician. A politician who sold positions within his administration and made political favors in exchange for campaign contributions. Like in the case with Sheldon Adelson.
He is surrounded by politicians being influenced by politicians. I’d save your trust for close family members. ‘Believe’ in him if you wish
You are going to be very disappointed 😂
@@trickedouttech321 you are so naive, not like we already have 4 years to look at
Some people have more faith in Trump than God.
We can handle the tariffs if we shut down the EPA, DOE, DOI, USDA, DOC, DOL, DOT & IRS. I may have missed a couple, but if we do first things first, we may be able to weather the tariffs.
China in the past with tariffs subsidized the tariff costs to Chinese businesses.
No they did not
Which legacy media channel told you this lie?
Ha! That is a joke! Right?
@@navajojohn9448 tariffs are paid by importers, not exporters. Governments cannot tax foriegn companies.
@@joefizationpeople here are not to bright
Tariffs were the norm for the biggest economic growth of USA
Thank you, Mr. Stoller. Exactly. Please go explain that to Krystal Ball.
She would would ignore it. Just like she ignored how bad of an idea the new economic theory of just printing money to finance spending bills instead of borrowing.
Why ? Who cares what Krystal Ball thinks ?
Yes tarrifs are bad ECONOMICALLY, but that is not the extent of our lives. That is one of the issues with free trade capitalism. Look at the opiate crisis, yeah we made more on a bottom dollar account ECONOMICALLY by shipping jobs overseas. But the fact is that life is not just about money, there are more things like self worth etc to a job than money. If you value an industry simply on dollars maybe tariffs dont make sense, but if you value a job and an industry as more than just money, than i think they do make sense.
Yes!...how many Americans will we be able to get OFF the welfare rolls and ON the tax rolls if we bring millions of decent manufacturing jobs back here?!
20% tariff = 25% price increase.
Not to worry, if Trump jacks tariffs up 60% on the stuff you need and buy Walmart and Target will be happy to eat that additional cost and not pass it on to you.
I mean if people don't buy stuff because it's too expensive then yes actually, they will
@@4DTravelrthat’s not how that works at all lmao
@@IDONTEATPANTS So they are fine with losing all of their customers? Lol
Tariffs increase prices for the consumer. It's not rocket science.
trump would certainly not have an aggressive anti trust system.
i live in indonesia with high tariffs on imports ..it generates a non competitive environment with low quality products with built in obsolescence at higher prices than a competitive price would be
Blah, blah, blah. Duh!
Tariff raising prices on one good, causing companies to raise prices on everything, is PROOF that tariffs cause prices to rise.
Who is paying you to spit this drivel, Matt? It's weird seeing all these unexpected people start cowtowing to Trump.
Tariffs are a tax on American consumers
False
@ so tell me who pays the tariffs
@@E.J-f6h the importer.
@@elijah8638And just WHO buys from the "importer"?
Tariffs inevitably cause prices to increase. If Trump and the Republicans in Congress really cared about inflation it wouldn't levy tariffs as a way to start a conflict with adversaries and allies alike.
"Corporate greed inevitably cause prices to increase"*
@banksta3 Corporations have been greedy for as long as there has been corporations. It's nothing new.
Inflation and prices aren't the same thing
@@4DTravelr That is true, but the rubes who voted for Trump don't know that.
Stoller misses the key point: the USA does not manufacture most of the consumer products that would be covered by broad, general tariffs such as Trump proposes to use. Stoller is only stressing targeted tariffs such as EVs. He also musses the inflationary effect of tariffs on materials such as steel, that raise the input costs or manufacturing. Sorry, but he is not really qualified to explain the problems here, clearly he is not an economist and doesn't really know what TF he is discussing in this case. Stick to politics Matt, you are out of your depth here.
Not True if a company just adds tons of cost to a product the product will not sell or not nearly as much. what this guy is leaving out, all exports from the USA are Tariffed very heavy.
Oh come on, Glenn, you don't need a PhD in economics to understand who's going to be paying for these tariffs. We consumers! These tariffs won't bring manufacturing back, and we don't make enough of our own stuff to just "buy American." Nothing good is going to come from these tariffs. Nothing.
Donald received an economics degree from Trump University
Actually he went to Wharton (UPENN), the top business school.
@@IndependenceCityMotoring It was a joke. Everyone already knows that Trump's billionaire father paid for his 90 IQ son to get into Wharton.
@@IndependenceCityMotoring LOL with those "many top professors there that think my plan is brilliant". 😂
@@IndependenceCityMotoringhe didn’t graduate from Wharton - he went there for a seminar or something
@@michaelashley2855 It takes only a 2 second web search to see that you are LYING. He did graduate from Wharton. Cultist partisan sheep.