This will push other countries even harder on the DE- Dollarization agenda. Orange Man thinks he can bully everyone with his threats, if the dollar looses its reserve currency status USA will be F U C complete the rest you guys are smart.
@ Canada as a whole is an example of this. Look at the idiot we had as PM for nearly ten years. And the naivete of Canadians themselves thinking it normal to have a reporter for a finance minister and a drama queen for a PM? Worse; Canucks think it normal if a PM stays in power for ten years or more. We truly deserve the zogs we have in power. But we are going to pay for it soon enough.
And alone you will become as the rest of the world trades and prospers. Global trade is not a fancy name. It's a fact in our ever changing world. No big deal. China will fill the gap the US leaves behind.
@@Rei_n1 In what way? Are you profit sharing in your company? If not, they will just max their profit margin which likely means increases to their product because the competitor now costs more.
@@Rei_n1resources and supply chains aren't magic. There's tons of stuff that you gotta import because you can't grow or produce it locally. So businesses will have to eat those tariffs (assuming trade doesnt collapse) and then pass the tax onto consumers through higher prices.
@@Rei_n1Assuming, of course, that you can magically create all the facilities to extract those raw materials and the required people willing to work for $1/week instantly in the US.
Nah. People skipped that part of American History/Econ… where America enacted the Smoot Hawley tariffs in the early 1930s and we basically manufactured a depression for a decade.
That hasn't had any affect since then right? Everything we changed in the last 70 years didn't cause astronomical impossible to pay back dents right? Cause that was way worse when tarrifs were around right? Logic
He has minimum intelligence. He does not know or care how tariffs work. He thinks making tariffs 100%, 25 or 50% will punish other countries, not the USA.
@@nullnulllnulltariffs lead to inflation will lead to interest rate increase which will squeeze businesses on both sides Profits shrink and debt repayments increase What company will increase your salary in that environment?😂
@@nullnulllnullLOL! take a look how wages have changed the last few decades. It’s going to be like recent greedflation after covid. Except worse. Any profit will go to shareholders not workers, as always
@@nullnulllnull you do know the other country also just raise tarifs on american products right meaning the customer go to countrys like china where its cheaper to manufakturer
I retired with 26 years of tariff administration experience in the U.S. Customs and Border Protection (formerly U.S. Customs Service). My job was to review/process the paperwork and collect the duties (tariffs) due on imported goods. When imported goods enter the Customs territory of the United States, duties are paid by the Importer of Record (IOR), which may be a corporation or an individual. NOTHING is paid by any foreign entity (manufacurer, shipper, or nation).
@@VanadiumBromide Tarrifs should go hand in hand with helping the companies open up their businesse in the USA, more employement and more money. It would mean higher prices in the short term, but it means also lower unemployement and better wages in the long term
You don’t have to work in tariff administrations to know that tariffs are paid by your own importers. Since those importers import based on demand, those tariffs ultimately are paid by the consumers.
It's meant to be passed to American consumers!! It's supposed to stop Americans buying imported goods and products in favour of U.S made ones. But protectionism never works because it starts trade wars and retaliation. American export businesses will die.
Its shocking to see how the combination of a failed educational system, mental health care and online foreign interference has made the once greatest country on Earth be filled now with people who does not understand how any of these lies do not make sense. A pre-school kid from Southeast Asia could see how nonsensical this is. Is it not enough that he gets to enrich his friends once more?
This guy is going to be the final nail in the coffin for us, fellow Americans. Whenever he forces a country to do what he says, and they refuse, he immediately bombards them with tarrifs as punishment. But in reality, the ones who will be paying for those ridiculous tarrifs are you and me. Every day, he's only making himself a target.
Sounds like the same lies in 2016 when he said “We are building a yuge wall and Mexico is going to pay for it”. In reality, we paid for wall and Mexico still sent over their migrants.
I live in a country where every import is tariffed and local economy is overprotected from competition, needless to tell you that there is a shortage of everything, quality is low, and prices are ridiculously high, everything from electonics 1nd car to staple foods like red meat. The average person is the one who's gonna shoulder those tariffs.
@ And now comes the moment of realisation that your country has only geriatrics or convicted and moronic criminals to choose as a president. What does it say about the US? You really couldn’t afford a better option?
@@Avinashm7 Puppet or not, he knew how economy works. Sadly US can only afford senile old man or a convicted criminal to be their president. Shows a lot how mighty can fall.
Chinese car are not in North America period. Not to mention that most of them raises their price drastically the moment they are no longer in the Chinese market.
Why woild you buy an american car? I test drive em every time I go to buy, and have yet to find one that even begins to compare to toyota, nissan or bmw in the same price range or family
6:08 “US imports about $450B of goods from China, but China only imports $150B of goods from US”… Yah, thats American consumerism at its finest for you
So we import consumer goods from China but China imports agriculture products from us so I think it's a win although of course China can always outsource them somewhere else while we have to put off buying their electronics.
He’s using a defensive tactic as an offensive threat. Even all the way back in the 1600s, tariffs were used to keep countries from entering the global economy, not earn more money for yourself
Have you applied this notion to the other bullies as well? How about the liars in China? Canada? The EU who will not let the US sell cars there? Are you that unskilled in critical thinking?
@@alexissvetrev BRICS! Even though they hate each other, all of them hate us more. So they follows "the enemy of my enemy is my enemy" philosopy. Soon they will dump the dollar and Trump is profiting from crypto and USD gonna fall soo hard.
@@nathanmathews2148 Trump is a real estate developer in the most vicious cities in the country such as New york, LA and Chicago. What makes you think he is anything but smart and tactician?
@Pure_Wisdom253 he's a nepo baby that recieved 500 million in property from his dad, yet he's declared multiple bankruptcies. Guy isn't close to intelligent, he's a perfect example of the Dunning Kruger effect
I would be more than happy to see the US isolate itself from the rest of the world. Might finally give them pause to think a bit when they slowly but surely become irrelevant on the world stage. BRICS consists of ten countries-Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates. It is considered to be a counterpart and alternative to the G7 bloc of the world's largest economies and combined represent nearly half of the world's population. Between BRICS and the rise of China, the US is losing it's superpower economic status quite quickly. After WW2 the US dollar reined supreme. That's when the average family cold buy a house or car on their regular wages. Those days have of course passed. But when BRICS moves away from the US dollar for trade, expect the house of cards to fall. All empires grow and fall. Been like that since recorded history.
I think the entire world should putt tariffs on all American imports, including services, UA-cam, Netflix, Google, Amazon. We should do it at 35%, and dump the US Dollar immediately….
Don’t forget meta (Facebook, WhatsApp, Instagram) oh and Tesla, then finance too. That would enormous. Don’t forget petrodollar, if the dollar is dumped US debt and its payments would ruin the country quickly
That would just lead to us becoming self reliant faster. You need us, we don't need you. We have a tremendous amount of resources, including resource rich neighbors, a level of geographical isolation from Europe and Asia that ensure invasion is very unlikely, and the strongest military on the planet with the most armed citizenry on Earth. The US focusing on domestic issues is exactly what the American people want.
@@patriot9487go for it. If isolation works for you then fill your boots. I think what people don’t like is threats and bragging and flexing. Trade is trade. Buy it or don’t, that’s your choice. Oh tariffs. Remember that’s a tax on the people buying the goods not the ones selling them.
You'll be in an economic crisis by the end of the year and in a decade from now the USD won't be the reserve currency anymore. Mark my words. You're OK now but a lot can happen in a few short years.
Orange face is just a puppet for the billionaires. They will have a field day with these policies, as they can leverage and shuffle supply chains in multiple ways. Richer will get WAY richer in the next 4 years, I am sure Orange face will blame Wokeism, DEI, CNBC, EV cars, Palestinians etc 😆
Inflation has many sources. Regulations, Tariffs, Domestic Taxation, Energy Costs. They are all levers that one can pull and push. China has much lower wages and fewer regulations, thus why their goods are so cheap.
WRONG. This is a tax on foreign made goods. If baldey made his products in the US and employed US workers and manufacturing he would not have this problem. That's exactly the point of these Tariffs too: MAKE AMERICAN MANUFACTURING GREAT AGAIN.
It’s sad to see the people who are going along with this. As a Canadian I really feel for the Americans who realize the monster they put as their president. I feel bad for myself for the fact I used to support trump getting back in office. This whole idea of fake news has now turned into a whole massive gaslighting scene where nobody can see the truth because distrust in news media.
WRONG. This is a tax on foreign made goods. If baldey made his products in the US and employed US workers and manufacturing he would not have this problem. That's exactly the point of these Tariffs too: MAKE AMERICAN MANUFACTURING GREAT AGAIN.
@@MM-hn6ig except it takes years to change product streams, especially for heavy manufacturing, and unless you tax ALL countries , the importer just changes country of origin . This is terrible economics , when trump put tariffs on washing machines, it did increase jobs in the industry by around 1800 , at a cost of $800.000 per job. Consumers paid billions in extra costs just to support less than 2000 jobs. During the time the tariffs were in effect - February 2018 to February 2023 - the cost of laundry equipment rose by 34%, according to Bureau of Labor Statistics data. Overall inflation was just 21% during the same time frame. The price of appliances overall rose by 23%. So laundry equipment rose by at least 11% more than it probably would have otherwise without the tariffs.The category “laundry equipment” includes both washers, which were subject to new import tariffs, and dryers, which were not. But the price of dryers rose by roughly the same amount as washers during the tariff period. That’s mainly because washers and dryers are often sold together as sets, with each unit priced the same. So higher prices for washers allowed manufacturers to raise dryer prices as well. During the first year the tariffs were in effect, the cost of washers and dryers both rose by about $90 per unit, or roughly 12%. All borne by the consumer.
First thing Canada should do is stop importing toilet tissue to America, and then Denmark should stop selling Ozempic. I'm not too sure if Trump has been watching Russia or not, but life goes on without America.
@@mysterioanonymous3206 True. I went full on the other day and said “history will revile these generations at majority today, our graves will go untended, our descendants will neither know nor care where we are buried, jackals will scatter and gnaw upon our bones, and we shall be an epithet spit out like the taste of ash.” A bit much but I stand by it.
I think 1/4-1/3 of Trump voters didn’t take him seriously. A majority voted for him either for the laughs/triggering the libs or cuz they didn’t like Kamala. People have voted and they are now going to get everything they asked for.
Tariffs and deportations doesn't go along with each other. Because if Trump wants manufacturing back in the US you need a workforce. In this case cheap workforce to compete with China and others. This will play out catastrophic for the US economy and their citizens.
Countries just shrug their shoulders at the word tariff. They don't care because the consumer ultimately pays the tax, not the exporting company. The cost of tariffs is passed all along the supply chain to the end user.
It's a complex world and if the US puts tariffs like these on products, then those countries are going to route around the United States like they routed around russia. And then 4 years when Trump is gone, those countries supply chains won't need the United States anymore. It will be a painful transition, but it will be a semi-permanent transition.
>The United States used to be a manufacturing country. Since the end of the Second World War this changed from a manufacturing center to a consumer center. All governments since the end of that conflict have been increasing the national debt, all of which has devalued the US dollar to the point where, today, a US dollar is worth about three cents, yes three cents, compared with a 1971 US dollar. So, today all the consuming US public is consuming with devalued dollars, hence, the increase in the sticker price of all goods and services. We simply need more of these devalued dollars to buy anything. >The plan by the current US government to install these tariffs is a distraction from the real problem which is the US debt and the devalued US dollar. Currently, the US debt to GDP ratio is well over 100% and so the only way to get this ratio down is either to pay down the debt or to increase the productivity of the nation. The former is out of the question; the second option will take maybe twenty to thirty years. The latter is not unrealistic since it really took over forty years to create this problem in the first place. >With regard to the stated deficit in trade with Canada this is a complete falsehood. If one were to include services as well as goods, then the deficit would be dramatically altered. In addition, the US imports over four million barrels of oil each day. This oil is shipped at deep discounts which allows the US refineries to sell the finished product on the open market generating huge profits. The statements by the US President are misleading, incomplete and false. We are living in dangerous times. The last thing a leader ought to be doing is turning on its trusted and reliable ally. He will pay for this and so will the American people. Just wait until they go the grocery store or the gas station. >This whole charade will not end well. Canada should immediately reform the inter-provincial trade barriers and should continue to forge new alliances around the world, including with China, India and the other BRICS nations. The US is in decline. The Americans do not appreciate what we, Canada, represent. Once the trust is broken it will never be restored. Canada should turn away from the whole misconception that the US is our friend and ally. It is not! Reply
Americans have companies outside the US, feeding labor for those specific countries, instead of our own. Profit drives these decisions and as long as the US companies depend on other nations for supply and labor, tariffs will never work
What happens if products arrive at the border in parts to be assembled in the US by a small Chinese business with mainly robots for the last 5% of the work? No tariffs and no American jobs? Or.. new jobs for all those extra civil servants (paid by the American tax payers) who will have to check all these creative ways to avoid tariffs. Trump is the best example of someone who avoided paying taxes his whole life. I don't think other countries can't be as creative.
hopefully not, but this could be the end of USD..eventually countries will find a way (another bill) to go around the USD...remember there are other manufacturing giants such as China, India, etc...this is only disadvantageous to USA
@@B.Mann-px5rn not much longer is what hes saying. And when it's gone it won't come back. A lot of nations are ready to pounce. If Europe joins in its over for the US. You'll regret it badly.
@@mysterioanonymous3206 Don't get fooled by all the hysteria and hyperbole. The USD is the world's currency. Would you replace it with a communist Yuan? Hilarious. Not even the Chinese keep the Yuan. The whole world keeps its cash in USD, and that will only change when the USA disappears as a nation. And that will not happen in your lifetime nor your children's. Do you realize that the American Revolution is the only one standing in the history of humanity?
Right, taxing imports doesn't necessarily bring back jobs to the US, especially since new factories are so automated with substantial education requirements for the few people hired.
That's why your items are more expensive, because China has the most hardworking people in the world, but the wages are very low. This is the fundamental reason why the price of goods is very low. Therefore, if you can find people who are more diligent and have lower wages than the Chinese in the mainland, then there may be low-priced goods. At the same time, in addition to these, China also has a complete industrial chain. The United States does not have these complete supply chains, including neighboring countries, including India and Vietnam, . It can have such an efficient industrial chain.
What is the feasibility of the US domestic market taking over foreign imports (i.e. increased domestic production in oil, manufacturing etc.)? How long would it take to transition? Is COVID taken into account in the last chart- i'm sure that cause trade policy uncertainty? I'm getting biased vibes from this report. Hope i'm wrong.
Counties may capitulate in the short term, but they will actively seek alternative trading partners in the long term. America is exercising its second amendment right by shooting itself in the foot.
With tariffs, the buying power of US consumer will be significantly reduced since they have to pay more to get the same goods compared buyers from other countries.
Get ready for the second wave of below pathetic failure & stupidity trump 2 the failure of dumbness continues Dsa the divided States as usual it's on greatest enemy literally lol
Challenging times ahead. The basics of economics and civics are essential to Democracy. Let's hope more people get curious and become active. The average consumer will pay for this, not the wealthy.
And passed on to the American consumers. Thereby making USA made products "appear" more competitive. Nothing becomes cheaper. Too bad for USA export businesses though 😮 Protectionism causes trade wars.
Foreign countries are not gonna to raise a cent on their goods, it is American companies that will fill in the void thus increasing the prices of the goods being sold. Basic economics!
Stop gaslighting. You just said that when ww2 came in , US tarriffs dropped significantly. So they were high and the US was one of the most prosperous countries on earth. Then you said "Canada's automobile manufacturing" ... Canada doesn't make cars. Those are American companies. So if you point or view need to lie to have a chance of making sense , drop it. Stop lying and start telling the truth.
I don’t know if ppl pretend to be dumb when it comes down to Trump’s tariffs strategy or they are actually dumb, I mean you can’t see the forest for the trees, it’s not simply about making stuff more expensive but about changing the entire system on how to trade with countries getting richer and richer at the expense of the crazy consumption of USA citizens, so if things are done properly the only winner will be USA and subsequently other economies globally and moreover it plays an important role in geopolitical strength. China got so crazy rich by putting strict rules on foreign investors wanting to do business in their country for instance car manufacturers, they had to become allies with a local car manufacturer in order to produce their cars in china, now china sells more EVs than tesla, because they managed to get ahold of intel, let’s not talk about electronics or even AI.
Define modern times and what empire. Not the US which has never been an empire. A bully certainly and a warmonger goes without saying but no point in waging almost continuous war when YOU DON'T WIN ANY OF THEM. Look it up, apart form civil wars they haven't won a single solitary war [best examples, Afghanistan and Vietnam], even in WWI and WWII which they boast about winning they were not only LATE both times but also the wars had already been won when they finally entered in, they merely SHORTENED them.
This is America's Brexit from the global economy. Like the UK, won't be long before people regret what they voted for.
ahahaahhahahah🤡
This will push other countries even harder on the DE- Dollarization agenda. Orange Man thinks he can bully everyone with his threats, if the dollar looses its reserve currency status USA will be F U C complete the rest you guys are smart.
UK was failing before Brexit as well
🎯
our economy doesn’t rely on international trade
"I love the poorly educated" - Donald J. Trump
If you believe in this poorly developed report, you are part of the 'poorly educated'.
Unfortunately, that's how you win votes. Ontario and Alberta are prime examples of this.
Education and intelligence are 2 different things.
@ Canada as a whole is an example of this. Look at the idiot we had as PM for nearly ten years. And the naivete of Canadians themselves thinking it normal to have a reporter for a finance minister and a drama queen for a PM? Worse; Canucks think it normal if a PM stays in power for ten years or more. We truly deserve the zogs we have in power. But we are going to pay for it soon enough.
@@diydarrin Education or instruction? And 'intelligence'? Really? There are millions of different forms of intel out there.
America first is America alone
And alone you will become as the rest of the world trades and prospers. Global trade is not a fancy name. It's a fact in our ever changing world. No big deal. China will fill the gap the US leaves behind.
World can exist with or without America 🇺🇸 😂😂
More and more, America First looks a lot like Putin's Russia......
Fully stealing this for my maga families. Preeec!
The US does not belong to the world. If being allies is you taking advantage then by all means leave.
Its so sad how many of HIS voters believed they were getting cheaper groceries when they are going to rise significantly.
😂
So there will be a tariff on everything?
@@diydarrinpretty much
Yeah it’s going to be sad to see this play out.
jesus. an eye for an eye makes the whole world blind
5:52 - “This is not a tax on other countries. This is a tax on you.”. Exactly.
But this makes your working hours better paid as local products become more competitive vs. imports
Of course, we need those Chinese 1$ dollar wages to manufacture anything...
@@Rei_n1 In what way? Are you profit sharing in your company? If not, they will just max their profit margin which likely means increases to their product because the competitor now costs more.
@@Rei_n1resources and supply chains aren't magic. There's tons of stuff that you gotta import because you can't grow or produce it locally. So businesses will have to eat those tariffs (assuming trade doesnt collapse) and then pass the tax onto consumers through higher prices.
@@Rei_n1Assuming, of course, that you can magically create all the facilities to extract those raw materials and the required people willing to work for $1/week instantly in the US.
It's crazy so many Americans don't even know how tariffs work.
Nah. People skipped that part of American History/Econ… where America enacted the Smoot Hawley tariffs in the early 1930s and we basically manufactured a depression for a decade.
But income tax is fine🤟🤟🤣🤣
That hasn't had any affect since then right? Everything we changed in the last 70 years didn't cause astronomical impossible to pay back dents right? Cause that was way worse when tarrifs were around right? Logic
@@Pad2PaperBueller? Bueller?
Educate us
He has minimum intelligence. He does not know or care how tariffs work. He thinks making tariffs 100%, 25 or 50% will punish other countries, not the USA.
@@nullnulllnullWho will be getting raises because of Trump's tariffs?
@@nullnulllnulltariffs lead to inflation will lead to interest rate increase which will squeeze businesses on both sides
Profits shrink and debt repayments increase
What company will increase your salary in that environment?😂
@@nullnulllnull Another r-ardt
@@nullnulllnullLOL! take a look how wages have changed the last few decades. It’s going to be like recent greedflation after covid. Except worse. Any profit will go to shareholders not workers, as always
@@nullnulllnull you do know the other country also just raise tarifs on american products right meaning the customer go to countrys like china where its cheaper to manufakturer
I retired with 26 years of tariff administration experience in the U.S. Customs and Border Protection (formerly U.S. Customs Service). My job was to review/process the paperwork and collect the duties (tariffs) due on imported goods. When imported goods enter the Customs territory of the United States, duties are paid by the Importer of Record (IOR), which may be a corporation or an individual. NOTHING is paid by any foreign entity (manufacurer, shipper, or nation).
It discourages imports.
@@tbraghavendran It discourages imports the same way higher grocery prices discourage eating.
@@VanadiumBromide Tarrifs should go hand in hand with helping the companies open up their businesse in the USA, more employement and more money. It would mean higher prices in the short term, but it means also lower unemployement and better wages in the long term
I gather you have not figured out that this is all about to change?
You don’t have to work in tariff administrations to know that tariffs are paid by your own importers. Since those importers import based on demand, those tariffs ultimately are paid by the consumers.
Tariffs are a Tax, Companies Not Countries Pay The Tariff Tax, That TAX is often passed along to the consumer.
It meant to aid local industries
@@emmanuelrufai6471 However it often hurts them more than it helps.
It's meant to be passed to American consumers!! It's supposed to stop Americans buying imported goods and products in favour of U.S made ones. But protectionism never works because it starts trade wars and retaliation. American export businesses will die.
@@whiskeygamesnerdstuff789That's false
@@emmanuelrufai6471How can you aid local avocado, coffee and chocolate industries when the US does not have the weather to produce these goods
Its shocking to see how the combination of a failed educational system, mental health care and online foreign interference has made the once greatest country on Earth be filled now with people who does not understand how any of these lies do not make sense. A pre-school kid from Southeast Asia could see how nonsensical this is. Is it not enough that he gets to enrich his friends once more?
All by design…
This guy is going to be the final nail in the coffin for us, fellow Americans. Whenever he forces a country to do what he says, and they refuse, he immediately bombards them with tarrifs as punishment. But in reality, the ones who will be paying for those ridiculous tarrifs are you and me. Every day, he's only making himself a target.
Sounds like the same lies in 2016 when he said “We are building a yuge wall and Mexico is going to pay for it”. In reality, we paid for wall and Mexico still sent over their migrants.
I live in a country where every import is tariffed and local economy is overprotected from competition, needless to tell you that there is a shortage of everything, quality is low, and prices are ridiculously high, everything from electonics 1nd car to staple foods like red meat.
The average person is the one who's gonna shoulder those tariffs.
Doesn't it create local jobs 🤔
Which country?
Has is destroyed your export businesses too? No one wants to trade with protectionist countries.
@ Algeria.
Does your government have high regulations that tie the hands of local businesses?
Congratulations US - you have elected a president who has no idea about the economy 😂
Better than your puppet biden 😂😂
@ And now comes the moment of realisation that your country has only geriatrics or convicted and moronic criminals to choose as a president. What does it say about the US? You really couldn’t afford a better option?
More and more countries will join BRICS soon. 😉
@@Avinashm7 Puppet or not, he knew how economy works. Sadly US can only afford senile old man or a convicted criminal to be their president. Shows a lot how mighty can fall.
You mean set back? Biden is worse but he doesn't yap much, Trump is more than worse but he yapp so much @@Avinashm7
Okay so, americans can expect to pay a lot more for american cars now. Great. As if chinese cars werent already flooding the market.
America doesn’t have Chinese cars (esp EVs) because of the already existing tariffs
I dont think theres chinese cars in north america
Chinese car are not in North America period. Not to mention that most of them raises their price drastically the moment they are no longer in the Chinese market.
Why woild you buy an american car? I test drive em every time I go to buy, and have yet to find one that even begins to compare to toyota, nissan or bmw in the same price range or family
It’s to pressure car makers especially the big three to produce cars in the US. However this won’t make cars cheaper due to expensive labor rates.
6:08 “US imports about $450B of goods from China, but China only imports $150B of goods from US”… Yah, thats American consumerism at its finest for you
That only covers China. In 2023, US total exports were $3 trillion. That was a $396.4 billion increase from 2022.
So we import consumer goods from China but China imports agriculture products from us so I think it's a win although of course China can always outsource them somewhere else while we have to put off buying their electronics.
He’s using a defensive tactic as an offensive threat. Even all the way back in the 1600s, tariffs were used to keep countries from entering the global economy, not earn more money for yourself
uncle sam needs to know that it is not the 90s or early 2000s where he can bully anyone..there will be response for their actions
The world is too messed up to put up a united front
@@alexissvetrev It already has. Why do you think cost of living crisis only hit western countries the most.
@@Sang25x3 that statistic is made up my friend, every country in the world is facing inflation
Have you applied this notion to the other bullies as well? How about the liars in China? Canada? The EU who will not let the US sell cars there? Are you that unskilled in critical thinking?
@@alexissvetrev BRICS! Even though they hate each other, all of them hate us more. So they follows "the enemy of my enemy is my enemy" philosopy. Soon they will dump the dollar and Trump is profiting from crypto and USD gonna fall soo hard.
Make Him Explain How Tariffs Work!!... He can't!
And what's sad his people in office can't either nor the republican party.
Trump would fail highschool Econ
I don't think he even understands what tariff is.
@@nathanmathews2148 Trump is a real estate developer in the most vicious cities in the country such as New york, LA and Chicago. What makes you think he is anything but smart and tactician?
@Pure_Wisdom253 he's a nepo baby that recieved 500 million in property from his dad, yet he's declared multiple bankruptcies. Guy isn't close to intelligent, he's a perfect example of the Dunning Kruger effect
If they want to be isolated, let’s help them. Then the regrets will flow like tears.
I would be more than happy to see the US isolate itself from the rest of the world. Might finally give them pause to think a bit when they slowly but surely become irrelevant on the world stage. BRICS consists of ten countries-Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates. It is considered to be a counterpart and alternative to the G7 bloc of the world's largest economies and combined represent nearly half of the world's population. Between BRICS and the rise of China, the US is losing it's superpower economic status quite quickly. After WW2 the US dollar reined supreme. That's when the average family cold buy a house or car on their regular wages. Those days have of course passed. But when BRICS moves away from the US dollar for trade, expect the house of cards to fall. All empires grow and fall. Been like that since recorded history.
I think the entire world should putt tariffs on all American imports, including services, UA-cam, Netflix, Google, Amazon. We should do it at 35%, and dump the US Dollar immediately….
This is exactly whats going to happen when we talk about "Trade War"
Don’t forget meta (Facebook, WhatsApp, Instagram) oh and Tesla, then finance too. That would enormous. Don’t forget petrodollar, if the dollar is dumped US debt and its payments would ruin the country quickly
That would just lead to us becoming self reliant faster. You need us, we don't need you. We have a tremendous amount of resources, including resource rich neighbors, a level of geographical isolation from Europe and Asia that ensure invasion is very unlikely, and the strongest military on the planet with the most armed citizenry on Earth. The US focusing on domestic issues is exactly what the American people want.
@@patriot9487no one is stopping americans from stopping to import stuff. I bet most stuff in your house contains stuff from abroad.
@@patriot9487go for it. If isolation works for you then fill your boots. I think what people don’t like is threats and bragging and flexing. Trade is trade. Buy it or don’t, that’s your choice. Oh tariffs. Remember that’s a tax on the people buying the goods not the ones selling them.
Put your huge tariffs up we'll buy off your competitors instead! The US have nothing we can't get anywhere else!
Next up: Autocratic hyper capitalism, or are we already there?
Don't look up..
You are ..
Tariffs are by their very definition anti capitalist
tariffs are regressing from a capitalist world back into a mercantilist world
Tariffs have NOTHING to do with capitalism.
Capitalism, correctly defined = voluntary exchange.
Tariffs block voluntary exchange.
@@ZZollstock welcome to post-capitalism.
I can't believe how bad it is going to get (except I was expecting it to be completely horrible)
You'll be in an economic crisis by the end of the year and in a decade from now the USD won't be the reserve currency anymore. Mark my words. You're OK now but a lot can happen in a few short years.
No one Gets rich besides him And his cronies
Elon, Donald and Melania already cashing in using cryptocurrency. Conning the American public. They only care about themselves!
For the average person, the increased price of goods will exceed the savings from tax cuts
Orange face is just a puppet for the billionaires. They will have a field day with these policies, as they can leverage and shuffle supply chains in multiple ways. Richer will get WAY richer in the next 4 years, I am sure Orange face will blame Wokeism, DEI, CNBC, EV cars, Palestinians etc 😆
Americans need to understand; they pay the tariffs. So inflation is going to up on imported products to the USA. How it is advantageous to the US?
Inflation has many sources. Regulations, Tariffs, Domestic Taxation, Energy Costs. They are all levers that one can pull and push. China has much lower wages and fewer regulations, thus why their goods are so cheap.
“Americans need to understand…”
Well, that’s a BIG ask! 😂
WRONG. This is a tax on foreign made goods. If baldey made his products in the US and employed US workers and manufacturing he would not have this problem. That's exactly the point of these Tariffs too: MAKE AMERICAN MANUFACTURING GREAT AGAIN.
@@MM-hn6ig 😂😂😂 holy sht dude
It’s sad to see the people who are going along with this. As a Canadian I really feel for the Americans who realize the monster they put as their president. I feel bad for myself for the fact I used to support trump getting back in office. This whole idea of fake news has now turned into a whole massive gaslighting scene where nobody can see the truth because distrust in news media.
I have never been interested in politics, but i have to admit, this is ridiculously entertaining.
I’m curious what changed for you? Is it this topic in general?
Same lol
@ Yes.
Its great having a fun dictator on immigration and encouraging renewal sustainable resources and regenerative soil policies : D
What is entertaining is that you're being lied to by Bloomberg who work for China.
Great Depression 2.0 here we come
You've been in it for 4 years
@@Cha4k ah yes, record high stock market and lowest inflation in the world. Best great depression ever.
@@Cha4k, hi, 😂😂😂😂😂
@@Cha4k That is a ludicrously inaccurate statement bearing little relation to reality.
Tarriff are taxes. Taxes affect middle class. Prices will go up.
WRONG. This is a tax on foreign made goods. If baldey made his products in the US and employed US workers and manufacturing he would not have this problem. That's exactly the point of these Tariffs too: MAKE AMERICAN MANUFACTURING GREAT AGAIN.
Go ready about the history of tariffs. You're off the mark.
Still more expensive for the business driving cost up for all and still might be cheaper to import @@MM-hn6ig
@@MM-hn6ig except it takes years to change product streams, especially for heavy manufacturing, and unless you tax ALL countries , the importer just changes country of origin . This is terrible economics , when trump put tariffs on washing machines, it did increase jobs in the industry by around 1800 , at a cost of $800.000 per job. Consumers paid billions in extra costs just to support less than 2000 jobs. During the time the tariffs were in effect - February 2018 to February 2023 - the cost of laundry equipment rose by 34%, according to Bureau of Labor Statistics data. Overall inflation was just 21% during the same time frame. The price of appliances overall rose by 23%. So laundry equipment rose by at least 11% more than it probably would have otherwise without the tariffs.The category “laundry equipment” includes both washers, which were subject to new import tariffs, and dryers, which were not. But the price of dryers rose by roughly the same amount as washers during the tariff period. That’s mainly because washers and dryers are often sold together as sets, with each unit priced the same. So higher prices for washers allowed manufacturers to raise dryer prices as well. During the first year the tariffs were in effect, the cost of washers and dryers both rose by about $90 per unit, or roughly 12%. All borne by the consumer.
First thing Canada should do is stop importing toilet tissue to America, and then Denmark should stop selling Ozempic. I'm not too sure if Trump has been watching Russia or not, but life goes on without America.
This is why i learn history for insight
What about cutting the budget for the military?
How is he going to invade all those other countries then??
stop thinking rationally, you will never understand not understanding anything if you keep thinking critically about stuff.
Ooh! Ooh! I know a way to enrich American budget without causing standoff with China and partners! It's called tax the rich
Does America have any allies left?
Ukraine and Argentina.
N Korea maybe and Argentina. Even Russia is turning away.
Israel and Russia
I can’t even imagine how the standard of living in the U.S. would drop if it tries isolationism.
I can... 😂
You guys are in deep now. In fact, we all are.
It will happen though prices increase.
@@mr.takethingstooseriously Agree, it’s going to happen but man it will be painful
@@mysterioanonymous3206 True. I went full on the other day and said “history will revile these generations at majority today, our graves will go untended, our descendants will neither know nor care where we are buried, jackals will scatter and gnaw upon our bones, and we shall be an epithet spit out like the taste of ash.” A bit much but I stand by it.
@@jarrodmelson7802 yeah the tariffs on Mexico Canada and China is the dumbest thing I’ve seen
Russia part 2.
How can the money have chosen Dump Trump.
I think 1/4-1/3 of Trump voters didn’t take him seriously. A majority voted for him either for the laughs/triggering the libs or cuz they didn’t like Kamala. People have voted and they are now going to get everything they asked for.
Tariffs and deportations doesn't go along with each other. Because if Trump wants manufacturing back in the US you need a workforce. In this case cheap workforce to compete with China and others. This will play out catastrophic for the US economy and their citizens.
Countries just shrug their shoulders at the word tariff.
They don't care because the consumer ultimately pays the tax, not the exporting company.
The cost of tariffs is passed all along the supply chain to the end user.
It's a complex world and if the US puts tariffs like these on products, then those countries are going to route around the United States like they routed around russia.
And then 4 years when Trump is gone, those countries supply chains won't need the United States anymore.
It will be a painful transition, but it will be a semi-permanent transition.
First term of Trump low inflation, lowest unemployment, lowest illegal immigration!!! What's not to like!
>The United States used to be a manufacturing country. Since the end of the Second World War this changed from a manufacturing center to a consumer center. All governments since the end of that conflict have been increasing the national debt, all of which has devalued the US dollar to the point where, today, a US dollar is worth about three cents, yes three cents, compared with a 1971 US dollar. So, today all the consuming US public is consuming with devalued dollars, hence, the increase in the sticker price of all goods and services. We simply need more of these devalued dollars to buy anything.
>The plan by the current US government to install these tariffs is a distraction from the real problem which is the US debt and the devalued US dollar. Currently, the US debt to GDP ratio is well over 100% and so the only way to get this ratio down is either to pay down the debt or to increase the productivity of the nation. The former is out of the question; the second option will take maybe twenty to thirty years. The latter is not unrealistic since it really took over forty years to create this problem in the first place.
>With regard to the stated deficit in trade with Canada this is a complete falsehood. If one were to include services as well as goods, then the deficit would be dramatically altered. In addition, the US imports over four million barrels of oil each day. This oil is shipped at deep discounts which allows the US refineries to sell the finished product on the open market generating huge profits. The statements by the US President are misleading, incomplete and false. We are living in dangerous times. The last thing a leader ought to be doing is turning on its trusted and reliable ally. He will pay for this and so will the American people. Just wait until they go the grocery store or the gas station.
>This whole charade will not end well. Canada should immediately reform the inter-provincial trade barriers and should continue to forge new alliances around the world, including with China, India and the other BRICS nations. The US is in decline. The Americans do not appreciate what we, Canada, represent. Once the trust is broken it will never be restored. Canada should turn away from the whole misconception that the US is our friend and ally.
It is not!
Reply
Hahahahaha Americans will pay more for their imported goods.. Basic knowledge. Ignorence is bliss.
invest in increasing competitiveness ❌
tariff ye ye tariff ✅
Americans have companies outside the US, feeding labor for those specific countries, instead of our own. Profit drives these decisions and as long as the US companies depend on other nations for supply and labor, tariffs will never work
Best way to teach Trump a lesson is for Canada and Maxico to join the BRICS
Go on Trumpy . Give Maga what they are gagging for. Slap huge tariffs on goods from everywhere and let Americans pay the tarif charge. 🤣
Thank you Bloomberg
Sad and depressed days ahead.. that's to be sure
Great, more expensive groceries!
What would you expect from Trump? 😂
What happens if products arrive at the border in parts to be assembled in the US by a small Chinese business with mainly robots for the last 5% of the work? No tariffs and no American jobs? Or.. new jobs for all those extra civil servants (paid by the American tax payers) who will have to check all these creative ways to avoid tariffs. Trump is the best example of someone who avoided paying taxes his whole life. I don't think other countries can't be as creative.
The Americans will regret this like how the Brits regret Brexit
The Brits don't regret anything with Brexit.
@@B.Mann-px5rnif you see polls Brits that voted for it regretted it
@Yangking-z9d My brothers live in London. They are sick of the EU, and so are their friends.
@@B.Mann-px5rn doesn't change the date that majority regret it .
@Yangking-z9d And many who DIDN'T vote for it now support it. Swings and roundabouts
Sending Thoughts & Tariffs to all Americans!!😂😂🙏🙏🙏🙏
hopefully not, but this could be the end of USD..eventually countries will find a way (another bill) to go around the USD...remember there are other manufacturing giants such as China, India, etc...this is only disadvantageous to USA
I really hope so. America/Trump needs to learn the world does not need them!😊
@@Middlesecond What country's navy do you think has protected global trade on the open seas for decades?
The USD is the world's reserve currency. You need to do some homework.
@@B.Mann-px5rn not much longer is what hes saying. And when it's gone it won't come back. A lot of nations are ready to pounce. If Europe joins in its over for the US. You'll regret it badly.
@@mysterioanonymous3206 Don't get fooled by all the hysteria and hyperbole. The USD is the world's currency. Would you replace it with a communist Yuan? Hilarious. Not even the Chinese keep the Yuan. The whole world keeps its cash in USD, and that will only change when the USA disappears as a nation. And that will not happen in your lifetime nor your children's. Do you realize that the American Revolution is the only one standing in the history of humanity?
Do it, do it, do it!
I'm not from the US or a country that does substantial trade with the US so I don't care how it ends. 🤷♂️
fantastic documentary. praying that we won’t go under
such idiotcy...
Oh the irony
Poor will have less ,rich will have more
Have you not realized this phenomenon occurred eons before tariffs? Serious?
I like how they only focus on negative things 🎉
Economic, dark edge
"100% of our products are made in China. The tariffs upended this." 5:40 That's what the tariffs were for.
What if they became 50% made in china and 50% made in Mexico?
Right, taxing imports doesn't necessarily bring back jobs to the US, especially since new factories are so automated with substantial education requirements for the few people hired.
That's why your items are more expensive, because China has the most hardworking people in the world, but the wages are very low. This is the fundamental reason why the price of goods is very low. Therefore, if you can find people who are more diligent and have lower wages than the Chinese in the mainland, then there may be low-priced goods. At the same time, in addition to these, China also has a complete industrial chain. The United States does not have these complete supply chains, including neighboring countries, including India and Vietnam, . It can have such an efficient industrial chain.
It gets far worse before it gets better. This shall too pass.
Karma
Is
De-Dollarisation
What is the feasibility of the US domestic market taking over foreign imports (i.e. increased domestic production in oil, manufacturing etc.)? How long would it take to transition?
Is COVID taken into account in the last chart- i'm sure that cause trade policy uncertainty?
I'm getting biased vibes from this report. Hope i'm wrong.
Finding wrong targets,
the problem are those companies moving out of US.
So much for lowering inflation and the price of groceries.
💸💸💸😂😂😂
Counties may capitulate in the short term, but they will actively seek alternative trading partners in the long term.
America is exercising its second amendment right by shooting itself in the foot.
Hahaha still won’t bring down our grocery or gas prices. What a clown.
No. We will be paying more because of Tariffs.
Basically the American people pay the price for these tariffs. Because Big companies are the moat affected.
Someone ask Trump who pays the tariffs.
What a circus!
in other words, chinese goods will be the gold for business, they will find a way to smuggle it in because of the sweet sweet competitive prices.
A TRADE WAR BETWEEN 20 COUNTRIES MAKES NO SENSE AT ALL, WHAT'S THE POINT OF TAKING IN BILLIONS ONLY TO GIVE THEM AWAY AGAIN!!!
With tariffs, the buying power of US consumer will be significantly reduced since they have to pay more to get the same goods compared buyers from other countries.
Tariffs, a kakistocracy solution to an imagined problem
3:57 “…but, that didn’t happen.”
Ladies and gentlemen, I give you, the ‘art of the deal’.
Oh inflation on steroids is coming
What’s the difference between MAGA and a brickwall? Brickwalls are never wrong…
Get ready for the second wave of below pathetic failure & stupidity trump 2 the failure of dumbness continues Dsa the divided States as usual it's on greatest enemy literally lol
8:47 "We'll have a long way to go to before we can truly count the costs"
Well, in only 8 days some percentages are added.
Challenging times ahead. The basics of economics and civics are essential to Democracy. Let's hope more people get curious and become active. The average consumer will pay for this, not the wealthy.
Not only preparing for tariffs, defense as well.
America can fight anyone, but probably not all at once.
A famous proverb
"May you live in intresting times"
Tarrifs are paid by the receiving countries not the exporting countries
And passed on to the American consumers. Thereby making USA made products "appear" more competitive. Nothing becomes cheaper. Too bad for USA export businesses though 😮 Protectionism causes trade wars.
HE SAID HE WAS GOING TO DO THIS. YOU LITERALLY VOTED FOR THIS.
Didn’t you notice? He just ended the war in 24hrs uhmm days? months? years?
Bro, where? 😂
Your guns and b.s dont scar us!
Foreign countries are not gonna to raise a cent on their goods, it is American companies that will fill in the void thus increasing the prices of the goods being sold. Basic economics!
Stop gaslighting. You just said that when ww2 came in , US tarriffs dropped significantly. So they were high and the US was one of the most prosperous countries on earth. Then you said "Canada's automobile manufacturing" ... Canada doesn't make cars. Those are American companies. So if you point or view need to lie to have a chance of making sense , drop it. Stop lying and start telling the truth.
did trump forgot that the importer is actually the American company that import the goods?
He is senile and haven't noticed that for 30 years the US is a service provider not a manufacturing plataform.
Switzerland has done this for ever and nobody lost their rings about it
Tariffs show that capitalism is failing
I don’t know if ppl pretend to be dumb when it comes down to Trump’s tariffs strategy or they are actually dumb, I mean you can’t see the forest for the trees, it’s not simply about making stuff more expensive but about changing the entire system on how to trade with countries getting richer and richer at the expense of the crazy consumption of USA citizens, so if things are done properly the only winner will be USA and subsequently other economies globally and moreover it plays an important role in geopolitical strength. China got so crazy rich by putting strict rules on foreign investors wanting to do business in their country for instance car manufacturers, they had to become allies with a local car manufacturer in order to produce their cars in china, now china sells more EVs than tesla, because they managed to get ahold of intel, let’s not talk about electronics or even AI.
Just make it in America then! That’s the whole point!
Hope he keeps his word tariffs on EVERYTHING and not just in the products that make convince, world should also start putting tariffs on USA products.
We are all watching the decay of what was once the biggest empire on modern times
Define modern times and what empire. Not the US which has never been an empire. A bully certainly and a warmonger goes without saying but no point in waging almost continuous war when YOU DON'T WIN ANY OF THEM. Look it up, apart form civil wars they haven't won a single solitary war [best examples, Afghanistan and Vietnam], even in WWI and WWII which they boast about winning they were not only LATE both times but also the wars had already been won when they finally entered in, they merely SHORTENED them.
25% tariffs on denmark = 25% on wegovy = 1000$ + 25% = 1250$
So ww3 ends up being the word vs USA. Finally found the bad guyd