Is Donald Trump’s tariff war about to totally backfire?

Donald Trump’s long promised trade war has begun, sort of - the US president threatened to slap tariffs on America’s biggest trading partners, before backtracking and striking a deal with Mexico and Canada. But a 10% tariff on Chinese goods has come into force and Beijing has retaliated by imposing hefty levies on a range of American imports and vowing to investigate Google over antitrust allegations.
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So will Trump’s tariff wars totally backfire? And how should other world leaders, including Keir Starmer, react?
In this episode of the Fourcast, Krishnan Guru-Murthy is joined by Greece’s former finance minister Yanis Varoufakis and Erica York of the Tax Foundation think tank.
Produced by Calum Fraser, Silvia Maresca, Rob Thomson, Ka Yee Mak and Amani Hughes.
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[@cb250nighthawk3]

China should put high taxes on MacDonald, KFC, Starbucks, coca cola etc etc. Make the population move away from these diseases-causing junk foods. 🎉

[@Hoo88846]

Not just China, the whole world should. Murican brands are junk…

[@bizhope007]

👆🏽💯🎯Yes! Especially because they are so unhealthy. It's a good way to protect the people in more ways than one.

[@izee6036]

A good idea by the way the hole world should do exactly that

[@Mohammed-db4he]

Apple aswell😅

[@Hoo88846]

Or better yet, BAN all of them out of China for national security threat and overcapacity…

[@doeyehof]

I hope the world becomes less dependent on America, even if that means making some sacrifices.

[@Abieso-h7q]

The world must dump the dollar,we are all enslaved to the USA monetary system. Brics is the future for a multipolar world and equality!!!!

[@GuusjA]

The user is asking whether a proposed bill to replace the constitutions of the Kingdom of the Netherlands with natural laws like 'right to truth', 'right to uniqueness', and 'right to freedom' aligns with the principles of iterative mathematics and the evolution of consciousness in an evolving reality. First, I need to understand each component of the question. The user mentions replacing existing constitutions with natural laws. Natural laws here probably refer to fundamental principles rather than legal statutes. The three rights mentioned-truth, uniqueness, freedom-are abstract and philosophical. Then, they want to know if this aligns with iterative mathematics, which I think refers to processes that build upon previous steps, like algorithms that refine solutions over time. The evolution of consciousness suggests a dynamic, progressing awareness that adapts to changing realities. I need to break down each part. Let's start with the concept of replacing a constitution with natural laws. Constitutions are legal frameworks that establish government structures and protect rights. Natural laws, in a philosophical sense, are principles considered inherent to human nature and universally valid. So replacing a legal document with abstract principles is a big shift. How would that work practically? Constitutions are enforceable laws, while natural laws are more theoretical. Next, the three rights: right to truth, uniqueness, freedom. These are broad. Right to truth could relate to transparency and access to information. Uniqueness might mean individual rights to be different, protecting diversity. Freedom is a common constitutional right already. But how would these be legally enforced? Without specific legal definitions, they could be too vague. Then, iterative mathematics. This involves processes that repeat and refine, like computational methods. Applying this to law might mean laws that adapt over time based on new information or societal changes. So maybe a legal system that evolves iteratively, updating itself as needed. That could align with the idea of an evolving reality and consciousness.

[@JohnJacob33]

In america we hope so to! Wishing you all the best!

[@doeyehof]

@@JohnJacob33 Thank you for your response. It’s quite clear that the United States has no interest in making the world less dependent on them. They are actively working to keep the dollar as the dominant global currency, even if it means pressuring other nations to comply

[@chrismelia1315]

They may be working on keeping it the most dominant currency however they don't seem to have the nuance to do so. Take the freezing of US Aid to African countries. All they will do is to turn to China and sell whatever remains of their economic souls. The ironic thing is the man who is at least partly responsible (Musk) has stopped aid to his home nation, and surely knows they are in the pocket of China already!

[@alimmuhammad9275]

The attitude of Trump supporters is similar to those who supported Brexit. The outcome will not be favourable for the US .

[@aaronwernz5788]

Have you really thought about this statement ? I mean Brexit was poorly handled, mainly because they didn’t make the negotiations of new trade agreements as part of their separation. If the Trade Deals that Trump is going after such as Canada, Mexico, or the EU, were really in the best interest of the United States then those countries would have no problem with renegotiating them. The countries that are upset about renegotiating there trade deals are countries that know full well that the way it is now greatly benefited them more than the United States. So they have much more to lose and the United States has much more to gain. I don’t know why British media is really complaining about this. The British government is actually one of the few countries in the world that would probably benefit from revisiting US trade agreements. That is why Trump hasn’t mentioned anything about Tariffs on Britain. Britain is actually buying more from the US than the US is buying from Britain, and Britain has been fairly good about meeting its Defense obligations. If I was Britain I would probably be asking the United States to set down to talks about trade deals. It would have been much better for Britain if they would have made that a part of their Brexit strategy, but better late than never. The British should be approaching the EU and the United States right now and making a deal with whoever is offering the best deal. It would have probably been more affective if they would have done it before Brexit, but now would be better than never. Trump would probably be more likely to make a good trade deal with the British than Biden would have. Biden always liked western EU countries more than he did Britain. Trump would likely make a better deal just to spite some of the western EU countries. I think the British media is probably either being paid for by some of the EU, or they are still holding onto the delusion that Brexit didn’t happen. If Britain was being smart they should be welcoming Trade talks with the US.

[@LukeMosse]

It will be in the long term, they are reshoring to the USA for production of all sorts of stuff, the last tariffs brought about +1 redundancy on most global supply chains, protecting against reliance on China, the next set will incentivise reshoring to the USA (rather than Mexico, which happened on the last set, for example) and they will have the new chip foundries up and running by 2027, set to dominate on semiconductors (surpassing Taiwan) by about 2030-35. They are moving back to US for energy security and to protect their tech infrastructure within national borders (lots in Arizona). AI workers will replace low-wage workers overseas, there will be no need to offshore, globalism will reverse. These tariffs aren't for the immediate term, they're to reshape supply chains. The world order is about to become more noticeably bipolar, these tariffs are strategic to mitigate near term risk and reposition the US for a different world. They also have had bipartisan support, by the way - Biden kept all the Trump tariffs and actually increased them. Washington was woken up in the Trump presidency by Trump's trade war with China. They are better aware now of what's coming and less complacent.

[@Liboch]

​@LukeMosse reshoring will come back to the US when wages gone down, unions abolished, workers work longer hours, etc

[@naomibeery8098]

I like Trump but I think he made a big mistake.

[@LukeMosse]

​​@@Libochno they are gearing up for ai automated workers. Wage prices will be irrelevant when they have ai automated workers in hi tech factories making hi tech. Globalization will reverse when wages are irrelevant.

[@jackmac2874]

Take a page from here in Canada…STOP buying US goods,services and travel to the US. Stop buying bourbon and Jack Daniel’s. Ontario in Canada was taking bourbon off government liquor store shelves in response to the orange megalomaniac’s threats to make Canada the 51st state through tariffs. I was stunned to hear the Ontario Premier state that they have $C 1B in annual sales of boubon ! Precise pinprick targeting of vulnerable American industry is the key.

[@SaperLot-v6j]

How can we stop using apple, android, whatsapp, google etc. though?

[@merjakotisaari9046]

@SaperLot-v6j Linux, Samsung, there are options.

[@asaholey]

​@SaperLot-v6j those are free services except apple

[@matthewn1805]

Replace your lousy windows machine with Linux, replace your over-priced iphone with an android and de-google it, buy direct from china instead of via Amazon, never buy a Tesla and leave twitter for blue sky.

[@AndrewJOliver]

@@asaholeythey are “free” to you, you’re not the customer, you are the product. Your data is sold by Google and Meta.

[@hmq9052]

I think we should rediscover our backbone. That would be a good start.

[@runePV]

Europe will rediscover it's backbone.. let's hope there's still enough soft tissue surrounding it.. What concerns america; that's gonna be another ballgame

[@timothyfloyd3269]

doesn't matter if he won the trade war. what matters is there was a war instead of peaceful talks. this will now strain our relationship with both Mexico and Canada. do you know Mexico provides 31% of our crops. that's a lot. do you know we have a trade deal with Canada for energy ECT. based in the hundreds of billions. what happens when they decide to stop cooperating with us. over this. there can be consequences to this. and people will suffer. the U.S, is one of the biggest importers in the world we mostly import. we don't have infrastructure to stop it. we don't have anything to stabilize us if the world decides to stop trading with us. my biggest complaint is the fact trump is getting rid of the department of education though. they help fund schools like for special ed. homeless kids a lot of people in need.

[@mjlljmmjlljm]

It takes a backbone to stand up to demagogues.

[@ChicagoTurtle1]

So how will Trump keep the American corporate executives from off-shoring manufacturing again? Raise more tariffs? And products and commodities that are not cutting-edge will be the same price as those that are cutting edge from China? This will mean rich people will buy nice Chinese products and the poor people will buy inferior American products? This will make the poor people in America love China more.

[@locdawg3815]

What back bone? Young Americans dress like women!? 😂😂😂 Tampons are running out and skirts are made by the millions😂😂😂 Chickens are coming home to roost Nancy!

[@steverobbins4274]

All respect to the Greek economist but the last time the US tried a tariff led tax approach it ended very badly for the US. In fact every time they have tried tariffs over a certain level it hasn't worked in the favour of the US. There is absolutely no reason to believe that this time will be any different to the historic attempts

[@dangavel1283]

hes no genius by any means, spotty record on getting things right.

[@riskinhos]

@@dangavel1283 he is indeed a genius and he was right every single time.

[@stevec6427]

The logic is completely flawed. Trump keeps changing his mind about the reasons for tariffs (one day it's balance of trade, the next it's drugs) but if it's about balance of trade, take cars as an example since it's a big one. Europeans buy very few US built cars for two reasons, they don't suit European tastes (high quality interior, small engines) and most of them don't meet European regulations so we can't buy them except as grey imports which makes them expensive. Tesla's are a different case but their EV market share is dropping as they've failed to keep up with the competition from Europe and Asia, most of their models are pretty old now.

[@jinkusmelus]

Tarrifs made China use local US allies for manufacture and those "US allies" are softening a great deal to China and therefore more amenable to them politically.

[@ArmantoAlex13]

@@riskinhos😂😂😂😂😂😂. A genius at being the best imbecile on the planet.

[@thor.382]

Worldwide boycott of all American companies and products!

[@shizuokaBLUES]

It’s well underway

[@okwatever3582]

Agreed! Boycott All american brands! but it ain't easy. how are we supposed to boycott tech brands? like apple, Google, meta, X, microsoft? like they are essentially a monopoly in the entire tech sector.

[@AlanahDershovitz]

@@okwatever3582 The U.S. engages in protectionist policies of the tech sector. TikTok was banned because it is Chinese and DeepSeek's unexpected success has exposed vulnerabilities in US strategies aimed at curbing China's technological progress.

[@livelife5947]

@@okwatever3582 Switch to Chinese tech like everyone else.

[@zafarkhan5609]

Trump America comes across more threatening to other countries which in turn will further erode US credibility.

[@Meh-qe4rw]

Even if the prices of Chinese goods rise by 100%, its still cheaper than made in America. That's why it will backfire.

[@LudiCrust.]

That’s not true. Most are 50% or less. The products that affect pricing the most are small things like washers which China can manufacture for around 5¢ while the U.S. is around 12¢.

[@paulmatters2641]

@@LudiCrust. You misunderstand currency valuation. The Chinese can simply devalue the Yuan and the tariff increases disappear in terms of the market price.

[@LukeMosse]

The purpose of the tariffs has always been to reshape supply chains and reduce dependency on China. And the scenario they're doing it for isn't the 'as-is' scenario, it's in the event that China makes a serious play to take Taiwan (which is expected to happen in 2027). In that lens, the previous tranche of tariffs has been successful, with most suppliers finding an alternative (+1) to China. By the way, Biden kept all of Trump's tariffs in place, and increased them. It's a bipartisan strategy because the whole administration has realized, largely because of Trump, that they were insanely exposed through dependence on China through current supply chains. That's why Trump started the Foundries Act which became the CHIPS Act. This is all preparing for 2027 onwards. It's not for now. And by the way, the US is about to become the world leader in chip manufacture, exceeding Taiwan - the plants are being built.

[@elau3742]

You underestimated the Chinese, they don't bla bla bla like Trump but they work well beforehand with counter attack strategies with logic, not like Trump.

[@larsnystrom6698]

@@elau3742 The Cinese are just doing some pro-forma counter measures, they don't really has to do anything they weren't already doing. If they eat some of the tariffs or lower their currency to keep the export up, they actually make a mistake. It would be good if the USA felt some inflation. And for China to reduce their dependence on the USA would also be a good thing. Both of these things would help the USA to isolate themselves, and everyone wants that. The entire world has to reduce its dependence on the USA, and it's financial system.

[@Rambobambo007]

America is going down fast businesses closing down every day utility bills sky high food prices up fuel up no country is respectfull of a bully state

[@MinAlop-v3t]

One of this days AMERICA will be alone no friends no allies

[@BADSPORTvids]

You just listed the issues most G7 countries are facing. Should I list how Canada is also falling? This is why society remains stuck. Politicians make us point at one and another instead of us having constructive conversations on how to ensure our governments dont continue to get away with zero accountability. Canada, France, UK, U.S etc all facing similar declines because we have a generation of leaders living on the merit of past generations.

[@stanlee4765]

No problem. Trump will just blame Biden for his failures.

[@Spiral.Dynamics]

The US has always been alone. They pay the other countries to comply. Trump is simply ending the payments.

[@whowhy9023]

😂😂😂

[@azharmobin6595]

Worldwide boycott of American goods if Trump introduces tariffs for Europe.

[@wallyrbc]

Why wait? Boycott now.

[@samhuangto]

Canadians are already doing it

[@iamanomas]

A month delay of implementation is just a tease. Trump is testing the waters. ❤️❤️❤️🇨🇦🇨🇦🇨🇦

[@razadaza9651]

What American goods go to Europe?

[@mikecohen2400]

From the Americans prospective these tariffs are a disaster they will drive up inflation in the U.S. may bring about a recession, worse they damage trade relations with no real benefit to the U.S., and it give a major opening to the Chinese if they are smart enough to use it.

[@lucasfernandez888]

You obviously don't live here in the States and cannot differentiate between inflation and a tariff. Inflation is caused by the federal government printing money as was the case with the last clown administration. Tariffs only raise the price of selected items targeted. Canada's exports to us is 38% of their entire GDP and only 2.5% for us. Who wins... That is why they could only pull alcohol from their shelves not big ticket items. Panama have exited the belt and road initiative completely and Mexico folded in 5 mins. 90% of all our avocados are actually produced in CA and again they have no leverage.

[@mootedtols4865]

China's been getting ready for it, look at the breakdown of the tariffs. They had this thing ready to go

[@Redslayer86]

From a left wing propaganda filled American perspective perhaps. But from an actual American perspective, we know prices may rise short term, but we also know this has to happen, because our country is dying. Morons who live in cities and wealthy areas don't understand how bad the countries economic health has gotten. This is a necessary thing if we intend to have a country for future generations. As for China, if this drags on long enough for the US to move our industry, they will be destroyed economically

[@mikecohen2400]

@@lucasfernandez888 Keep believing that brother, as prices go up

[@lucasfernandez888]

@@mikecohen2400 You couldn't articulate with regards to my response. If prices were to go up why did Mexico and Canada cave. Simple they have no leverage and 38% to our 2.5% with a huge trade deficit and our engine means only one winner. We fund them to the tune of $200B per annum. If we cut that off they're finished with that one thing alone. That is why we got rid of their leader for them and once they fall into a great depression the opposition will be 60 pts up. They are already leading by 20.

[@M.Wildman]

Canada and the EU must build on CETA and work MUCH more closely together. Our values are closely aligned and Canada's energy sector and natural resources are vital to European security.

[@SaperLot-v6j]

Agreed

[@merrick6484]

The so called "Value" means jackshxt if you can‘t provide FOOD on the table.

[@jinkusmelus]

@@merrick6484 You can't provide food on the table if you're unable to receive medical care because you're broke AF :D

[@tvc3mye]

Perhaps the new CETA should also start recruiting Australia and New Zealand too.

[@DanBurgaud]

Trump is playing kindergarten game while Xi and Putin is playing Chess

[@kunaiflex491]

4D chess , trump is on snakes n ladders

[@LukeMosse]

Trump started the tariffs which were kept and increased by the Biden admin. The net effect has been to reshape supply chains and build in risk mitigation through alternative suppliers in the event of conflict with China (probable by 2027 over Taiwan). Along with the CHIPS Act, these are pretty strong plays, how are Putin and Xi doing better?

[@bluesclues132]

@@kunaiflex491 trump can barely handle snake on Nokia.

[@LukeMosse]

Without Trump, China would be all set to take Taiwan in 2027. His tariffs changed DC policy - you know that Biden kept them all in place? Trump started the Foundries Act which led to the CHIPS Act, and the US has some basis to not be over a barrel now in 2027 when China is expected to go for Taiwan. If anyone is playing kindergarten games in the US it's the people who believe the as-is world order would last indefinitely and it's safe for the US to allow China to account for the majority of its supply chains and to be competitive on semiconductors.

[@EdwinTan-ci6ru]

chess are kindergarten game in china and rusia.

[@davidgamer321]

1890 global economy & supply chain context were much different than today. Specially given China is the only country can really claim to be world factory nowadays, from super low end to super high tech production capacity & capabilities !

[@GazB85]

Economics and human behaviour are still the same sadly.

[@MaryKaplan-g1d]

Here we go again, It’s like Trump is trying to start an economic wrestling match with the whole world.

[@vanvanlubtube2768]

Yeah, it’s causing serious disruptions. Supply chains are getting squeezed, and inflation’s creeping up because of higher import costs. But honestly, it’s creating opportunities too, if you know where to look.

[@JoohLop]

Easy for you to say. My business relies on imported materials, and costs have gone through the roof. Last year, I thought we were going under.

[@JaneJanefixx]

But you didn’t, right? You’ve been expanding. How’d you manage that?"

[@JoohLop]

That's when things took a turn for the better. I began collaborating with a financial advisor named Rebecca Dolva Watson. She transformed my perspective on business finances. Instead of panicking about the tariffs, she guided me to switch suppliers to domestic manufacturers and broaden my revenue streams. Additionally, we revamped my investment portfolio to focus on sectors that are thriving due to the trade war, such as U.S.-based manufacturing and tech companies adjusting to new supply chain challenges.

[@MaryKaplan-g1d]

Wait, so while the rest of us are stressing over global chaos, you’re turning it into profit?

[@wallyrbc]

Open up your pockets, Americans. You’re going to learn the hard way how tariffs work.

[@razadaza9651]

lol… all of a sudden everyone can predict the furure

[@wallyrbc]

@@razadaza9651 Not too difficult. Apparently many Trumpers don’t understand how tariffs actually work.

[@razadaza9651]

@@wallyrbc all of sudden you know Americans too now lol… when did you learn about Tarrifs?

[@wallyrbc]

@ Yes, the whole world knows some Americans don’t know how tariffs work. But, for sure - keep on listening to Trump.

[@razadaza9651]

@@wallyrbc when did you learn about tarrifs? Did you know that your own country has tarrifs on other countries? Probably not, and now you’re poking fun at Americans hahaha… it’s takes one to know one as they say

[@realrachelleakuffo]

At the end of the day, US consumers will bear the costs as US importers pass on tariff costs. This is what history has repeatedly proved.

[@robmanabouttown3298]

The point is it makes US companies more attractive and will make US citizens buy local goods as opposed to foreign imports. At the same time it hurts foreign companies/ countries. Always support the local economy. Go USA 🇺🇸 go UK 🇬🇧 Delete i5lam the oppressive ideology that treats its women like slaves or animals.

[@LukeMosse]

It doesn't matter, the intention of the tariffs is to reshape global supply chains with one main goal being to reduce dependency on China. The near term cost to the US citizen for finding a +1 alternative (which has been the main effect of the tariffs so far), is less than the future cost in the event that China cuts off supply and there is no risk mitigation in place. China has plans to make serious attempts at taking Taiwan (including military preparations) and the expected date of action is 2027. This is why they've been ramping up the CHIPS Act to reduce dependency on Taiwan for semiconductors, and it's why the tariffs have bipartisan support. Yes - the Biden administration kept all of Trumps tariffs in place from 2021-2025, and increased many of them. It's not just Trump that is using tariffs to reshape supply chains, it's both administrations. Economists focusing on the near term effects of these tariffs, in an assumed 'as-is' world order, are completely missing the point. China is on the cusp of making a major play to expand in Asia, and the US is building in risk mitigation at the 11th hour.

[@AlanahDershovitz]

@@LukeMosse The U.S. has a trade deficit with China, Canada and Mexico because maintaining the biggest military in human history is expensive.

[@LukeMosse]

@@AlanahDershovitz Yep it sure is. And they can't afford for China to cut off supply chains, that's why the need to be reshaped very aggressively before 2027.

[@bluesclues132]

They’re too busy brown nosing the chosen ones to care .

[@okwatever3582]

he wants more domestic production. he also wants cheap labor AKA immigrants to leave. but american human labor cost is way more expensive than rest of the manufacturing nations today. Factories are not going to be successful in the US. Period. He is stupid enough to implement both tariffs and deportation simultaneously.

[@AlanahDershovitz]

The U.S. has a trade deficit with China, Canada and Mexico because maintaining the biggest military in human history is expensive.

[@LukeMosse]

You know that Biden kept all the tariffs which Trump set up in his first term in place, right, and increased them?

[@Huggz87]

I’m pretty sure he’s always said illegal immigrants!? Secondly did you know Biden and Obama deported more people than Trump did in his 1st term.. Get your head out of the sand, read a book and stop hating for the sake of hating.

[@daniw1319]

@@AlanahDershovitz The US has a trade deficit with Canada mostly because of energy. We cannot expect a country as small as Canada, in terms of population in comparison to the US, to have dollar for dollar trade

[@AlanahDershovitz]

@@daniw1319 Are you from the U.S.? If so is it customary for your people to blame everyone else for your lack of willpower?

[@WTF-204]

Trump's great negotiating skills? That hilarious! Only a few months ago on worldwide TV in a fit of dementia, he started screaming, "They're eating the dogs, they're eating the cats, they're eating the pets". Do you think this is the mind of a negotiating genius?

[@erhardh]

The Donald is eating his own diapers!

[@aquelpibe]

You can´t see the forest for the trees These are all distractions The main goal, which I believe he will achieve, is to replace American democracy with a Russian-style pseudo-democracy in which real opposition has been eliminated

[@keep-ukraine-free]

Bankrupt 6 times (including casinos, which are nearly impossible to bankrupt). Courts found his companies (and "charities") to be frauds, and shut them down. He admitted to "grabbing pu#$#$". He was found liable of that (legal ra*pe). He admitted to taking (stealing) U.S. national security documents.

[@petermykichuk3714]

It’s because of tariffs that BRICS will succeed. If Canada and Mexico ever joined I am sure this would put a black eye to America

[@gelinrefira]

Mexico maybe, but Canada is too untrustworthy to be in BRICS.

[@ORANGEAPEKINGOFTHEFREEWORLD]

The stock market sell off is why he put the pause on tariffs .

[@De_Minimis-e9x]

Guide to beating Trump: Step 1: Cancel Musk contracts - ban Tesla Step 2: Win From Canada with ❤

[@dermotmcglinchey282]

Agree with exception to banning Tesla , much easier to target Tesla with 100% tariffs..Then target goods from US red states with whatever tariff rate Trump signs , the dollar rose since Trumps re-election meaning a 10% tariff on the EU would take them back to as it was before this kkkriminal scumbag was voted back in by some of the dumbest boneheads on the planet..Keep targeting his base until they open their eyes to reality..

[@thefourthrabbit9516]

As Chinese, we stand in solidarity with Canada, Mexico, and ordinary US people against the Tariff Nazi regime

[@GUYMAN261]

Best of luck clawing your way back to solvency

[@riskinhos]

@@thefourthrabbit9516 do you also support taiwan and the genocide of the Uyghurs and the tiananmen square massacre?

[@thefourthrabbit9516]

@ Why, do you? That's all your knowledge about Chinese people, right?

[@paxundpeace9970]

Last time america had tariff of this scale the went into the largest recession with a 60% downturn in productivity.

[@joseluisarroyo942]

Trump-y is only interested in helping his billionaire pals make more money than they have already.

[@noahjbrown]

Hey everyone, Let’s stop referring to them as “Trump’s tariffs” and start calling them the “New Trump Tax.” A simple change in wording could really shift how people perceive them. Imagine if every store receipt had a line showing the percentage of the New Trump Tax added to your purchase-people might start seeing the real impact a lot more clearly.

[@LukeMosse]

Did you know that Biden kept all of Trump's 2016-2020 tariffs in place, and increased them? The tariffs have bipartisan support.

[@LukeMosse]

The tariffs are being used to reshape global supply chains, because they've woken up (at the 11th hour) to the fact that China is going to make a play for Taiwan, probably by 2027. When that happens, the US wouldn't be able to defend it if they were still locked in to Chinese supply of goods. The entire intention is risk mitigation. Consumers may indeed pay a price now, but it's dwarfed by what they would pay in the future if this risk mitigation wasn't in place.

[@adz951]

​​@@LukeMosseYeah, selectively placed tariffs. Blanket tariffs on Canada, Mexico and China do *not* have bipartisan support at all. Oh, and Biden kept the China tariffs in place (and built on them), but removed other tariffs Trump had put in.

[@LukeMosse]

​@@adz951he kept the majority in place, and in the case of china he kept all- the general tariff and increased selected ones.

[@LukeMosse]

​@@adz951wait until the effects kick in, then the Dems will support them just like they broadly supported the first set, after the Trump admin put them in. The general strategy to reshore back to the US does have bi-partisan support. Biden kept up Trumps foundries act and developed it into chips act. Point is, people with TDS are so reflexively biased they don't even evaluate whether their own side continues on the same policies. Apparently Trump is stupid for a set of reasons which they don't apply to Biden. Then they think they're clever it's risible.

[@grahamcampbell8297]

The Chinese laughed and responded by imposing 15% tariffs on America! Trump is ridiculous.

[@LukeMosse]

Doesn't matter purpose of tariffs is to reshore industry back to the US. They are gearing up for 2030-40, chips act, automated workforce, domestic vertical supply chains, resource and energy independence. This is supply chain reshaping for risk mitigation and longer term adaptation to bipolar world order and reversed incentives for globalisation due to automated workers who don't require wages.

[@RalphBrooker-gn9iv]

We should not have left Canada exposed. We needed solidarity 🇬🇧 🇨🇦.

[@joseluisarroyo942]

Those tariffs are another form of indirect taxation to his people but, in the meantime, he has gifted to his pals a tax cut when he reduced corporate tax and his people have not seen it coming. By the time that they realised that they have lost a lot of the benefits they enjoyed, it would have been too late and they'll fall into poverty. They should start the wheels going in order to get him out with all his money grabbing so and soes.

[@aquelpibe]

The opposition should have called tariffs by their easier to understand name, "import taxes", paid by the consumer

[@chriswong9158]

Henry Kissinger Quote: “To be an enemy of America can be dangerous, but to be a friend is fatal.”

[@keep-ukraine-free]

Kissinger was a very bad person. The history books are right.

[@winglaileung]

During USA election of Nov.2024, 53% selected Trump. Feb 2025, Tariff 25% added to Canada and Mexico, food prices go up, 100% USA people suffer. When expenditures cut, tax cuts, it appears that the 1% benefit but the 99% suffer. Why USA democracy isn't good ？ You can see the (99-53=)46% voters suffer as a result, in 3-4 months time .

[@mustwereallydothis]

Yes indeed! Suddenly, the CCP looks like a much more trustworthy trade partner

[@GazB85]

When haven't they been?

[@goonerOZZ]

When the US wants to be the world police, China wants to be the world merchant, so they've always try to be a trustworthy trade partner

[@mustwereallydothis]

@GazB85 Perhaps I was sipping a bit too much kool-aid, but I've considered them our enemy for the past few years. Now... I'm not quite so sure what to think.

[@blackswan301]

I trust China EVERY day over the US/isrel thugs

[@yunsi7954]

They always is trustworthy, thanks to trump the world had woken up.

[@Plutoman09]

"and the people who shop Walmart are mostly MAGA followers" LOL what a slap in the face...But so very true.. Well said...

[@lamclate956]

As a president, he actually doesn't know that tariffs are paid by domestic citizens. 😂😂😂😂😂😂😂😂

[@Hoo88846]

He knows. He is just lying to Americans who are dumb enough to believe him. He knows what he is doing, that he is defending the monopoly market of the Zionistt brands…

[@aquelpibe]

I suspect he knows but he lied to his followers because he would not have been elected if he said the truth Now that he doesn´t need their vote he can start talking about "necessary sacrifices"

[@GazB85]

He does, he just doesn't care.

[@aquelpibe]

My reply was censored, but here it goes again: he knows, but he lied to the voters because he would not have been elected if he had told them that tariffs are an import tax eventually paid by the American consumer Now that he does not need their votes he is starting to talk about "necessary sacrifices"

[@christiangodin5147]

Bonjour. The two last "tarrifs" wars (1930, 2008) backfired.

[@CatmanFive]

2018 en.wikipedia.org/wiki/First_Trump_tariffs

[@davidb9013]

How ridiculous it is how little coverage and how little known BRICS + is.

[@davidrobinson2571]

and yet BRICS is nearly 60 percent of the world population ..the US .4.3 percent ..

[@GazB85]

Cause the British owner class are against it.

[@iggy5347]

Indonesia already join brics and soon thailand and colombia 🎉🎉

[@oneworld1160]

I often agree with Varoufakis, but he does not take investment psychology into account. EU investors will be very wary to invest in a fascist country where the rule of law is not guaranteed. President Musk can easily create a market environment causing EU investors to lose their capital.

[@Huggz87]

President Musk, wow that’s original.! 😂

[@DennGlanzig]

As long as there is potential for growth in investment I don’t see ideology putting that off. At the end of the day how many clicks of the dial away from Musk is the typical international investor? If anything with the deregulation promised by Musk and Trump it may be seen as high potential.

[@rebym]

@@DennGlanzig As I write this, BYD is up 8.72% today, Tesla is down 2.2%. BYD is still undervalued and Tesla is way overvalued. You can only fool people for so long and the loss of soft power will have a direct impact on the bottom lines of American companies. Yes, Tesla is an extreme case.

[@DennGlanzig]

@@rebym I’m not advocating for investment in the US in its current form by any means, I’m simply trying to point out that capitalism doesn’t tend to have morales that align with humanity.

[@LornaKortgaard]

Can't trust Musk

[@cagataysuter10]

Trump voter: The Canadian, Mexican and Chinese governments will pay the tariffs, right?

[@panchovilla5940]

Wrong.. 😊😅😂

[@mup_pet]

The cost is passed onto the consumer.

[@streamlove2]

Right? *padme face*

[@ShirleyMcMahon-artist]

Dream on. 🇨🇦. We. Will. Not.

[@ShirleyMcMahon-artist]

So you’re part of this whole problem. Be ready to be spending more on groceries to start with.

[@Aleph-alpha]

Canada: Now what shall I do with the oil and stuff... China: I'll take them all!

[@fillmorehillmore8239]

The west (without the USA) should scrap NATO, make peace with Russia and join the BRICS

[@Canvascanadaca]

This would assume that Americans could cope with any kind of "hardship" for more than 2 weeks (can't blame the world for not Consuming and wasting as much as their country) Always citing the 200B trade differential between Canada and US as if a country with x10 LESS people could ever import as much!)

[@JeffWilliams-r2b]

are you forgetting that the critical rare earth minerals the USA needs for the military weapons need can be cut off from the entire world!?!

[@JeffWilliams-r2b]

from Canada, China, and elsewhere 😮

[@wallyrbc]

Border issues! What a joke.

[@locdawg3815]

Donald: I'm playing chess!!! President Xi and Putin: that's cute! We don't play games over here... .. .

[@renederieux1057]

It might be as simple as being able to say that the Tarrifs paid for a massive tax cut for the rich when it doesn't.

[@JohnSmall314]

Trump has to find the money to pay for tax cuts for the rich. Where's the money going to come from? He can impose tariffs without going to Congress for approval, even though it's a tax on imports. The tariffs will pay for a massive tax cut for the rich. The rich are going to have more money, and everyone else will have less money. It really is that simple.

[@helveticaification]

Varoufakis ("Former Greek Finance Minister' says it all) -- Was he just in town this week? Trump's 'technique' - such as it exists - is to bellow threats, and hope he doesn't have to carry them out because the noise gets him publicity, and some scurrying to pacify him. "Full of sound and fury, signifying nothing' appeals to magats, but has no value - other than making me more pro-EU every day.

[@tatianastarcic]

Tariffs will increase costs of finished goods and components used throughout US manufacturing. This will be an immediate and huge hike in inflation. To fight inflation the Fed will have to hike interest rates which will be wonderful for the billionaires but possibly take away the middle class. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun..

[@ChristianKelv]

The U.S. economy relies on ongoing credit and debt generation for sustenance. The Federal Reserve is expected to increase the money supply, leading to further debt accumulation for the average American. So how exactly can we guard against the coming financial reset Like what are really the best strategies to make our portfolio recession proof against the incoming financial reset? I'm very worried about my $310k stock portfolio.

[@MattsMkia]

Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 75 cash earning 5.25 interest, 685k in roth ira, 120k in 401k, Gold and silver bars. age is 48. My advisr helped me realign my portfolio to my risk tolerance and it boomed shortly.

[@BellamyGriffin19]

Can you share details of your advisor? I want to invest my increased cash flow in stocks and alternative assets to achieve financial goals.

[@MattsMkia]

‘’Lisa Grace Myer'' is the licensed advisor I use and i'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.

[@sharonwinson-m8g]

​ Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

[@jamaicantillidieinmyownwor5517]

As a member of the rubbish Commonwealth, I am laughing my head off at the UK. Basking in the glory of how weak, irrelevant and simple-minded Great Britain has become. A feeble, declining, use to be, once upon a time, has-been, power. The UK must now resort to groveling under the US table for its survival. It is an embarrassment to have the UK lead the Commonwealth. I have been reading a lot from UK conservative and reform leaders and supporters boasting about how they lined up a free trade deal with the USA and how they welcome and look forward to Trump’s Tariff against the EU and other countries. There is no way the USA is going into a free trade agreement because it benefit the UK. America first means America First and exist to serve the USA at the expense of everyone else. A free trade agreement with the USA means the UK must remove all its safeguards and allow the total invasion of cheap, GMO and chemical products into the UK.

[@gdup1728]

Love to jamaica. Im proud of the Jamaicans who have made a place for themselves in the world despite the disgusting history that created it.

[@yunsi7954]

Why do you still want to be in the colonial organization?

[@jamaicantillidie6626]

@@yunsi7954 In its current context the Commonwealth is nothing but a dog and pony show. The Commonwealth however can evolve to become something more meaningful, that is an economic union. With or without the UK we still have the numbers to make it meaningful and some of our members are BRICS countries. If it is not evolving then just get rid of it because it makes no sense. 36 of the 56 member states in the Commonwealth of Nations are republics and Jamaica will make it 37. The only purpose this colonial organization serve now is if it evolves into an economic and trading block to benefit all, striping off the colonial part, removing the Monarchy and the King.

[@marblackCanada]

They are not your friends.

[@nicoled5160]

We should ask ourselves: Why are we calling anything a Czar? This is a Russian word.

[@Aleph-alpha]

Originated from Caesar, Rome!

[@GazB85]

And means King or emperor.

[@rondesantis8618]

Yannis asks who Trump will betray. The working class who got him elected or the financiers and realtors? There's no need to guess on the answer to that one!

[@elau3742]

Trump supporters are so naive that they thought China had to pay them money directly. Well, Trump's supporters, what do you expect. I give them advice, prepare to sell your house because you won't be able to pay your mortgages. You won't even have enough to pay your eggs.😂

[@LukeMosse]

Biden kept all of Trumps tariffs in place, and increased them.

[@selecttravelvacations7472]

Smart Trump supporters have already paid off their home and also own their own chickens. You can find them all over YT. I was at least smart enough to get my own chickens. I get to skip the egg aisle completely. I support nobody. I saw through the delusions on all sides.

[@adz951]

@LukeMosse Not true. He kept the China tariffs in place, but repealed others.

[@LukeMosse]

​@@adz951yeah he kept all the china tariffs in place which people criticizing these tariffs would have opposed then, and he increased them. Keep track of the double standards with coping.

[@yunsi7954]

That's why he love the uneducated

[@jackboot3946]

China will reduce its dependence on USA trade regardless of what else Donold does, because they know that USA can't be trusted any more. Other countries should do the same.

[@TheHesseJames]

Long term the EU will be the biggest winner of Trump’s shenanigans.

[@abuyusufabdulhakim952]

No, China

[@bbell15499]

Please explain!

[@TheHesseJames]

@@abuyusufabdulhakim952 China is already winning. The EU has a lot of work at their hands before they are winning.

[@cathalrooney9409]

No it will. Be China and BRICS. Europe is in decline.

[@elau3742]

​@abuyusufabdulhakim952 The EU have been acting like obedient servants to the US. They even imposed Chinese electric cars per US's advice. Now they are worried China will laugh at them. Also, may be,China will do the same to them.

[@Peter-m5n7m]

WHO APPOINTED DONALD J. DUCK AS EMPEROR OF THE GLOBAL COMMUNITY? THE PRUDENT ACTION THAT THE POTUS NEEDS TO DO IS TO APPROVE STATEHOOD FOR PALESTINE, ASAP!!!

[@nishantahvan]

I am in export house we imported steel from china with 40% dumping duty, freight cost, manpower cost etc still price is lower than western materials. This why this tariff will not work. Even with duty it will still cheap. What you need is favorable conditions for specialist manufacturing at home. Subsidies them.

[@GazB85]

What's dumping duty?

[@nishantahvan]

@GazB85 Dumping duty is extra tax then normal which mean to protect domestic industry. Think normal import tax is 10% plus now 30% extra tax

[@fatumataholloway4897]

But the bricks are starting to get bigger.

[@stephenhathaway269]

Tramp is how everyone should speak his name

[@MISSYGful]

Mango Mussolini works for me 😂

[@larryames8831]

Here is the stupid in sunlight: What publicly traded company will invest here and have its existence weigh on any presidential politics? Tariffs should come via a 60% vote in each house. And it must be revisited every 6.5 years. We are willfully stupid of what any president calls a good economy. Learn how to live in or about your zip cope. John Deere paid you for every week you worked. What fool can legally claim they are owed a job in your zip code. Off my head, I can only think of MAGA. And MAGA votes. Reap it.

[@renederieux1057]

This increase in clout is being done on the backs of the US people.

[@colombard140]

😂❤😂 Instead of raising the TAX which is repugnant to all citizens, crafty foxy Trump just change the name to TARIFF which is a far more palatable word! Other words diplomatically used by Uncle Sam are Printing Money to Quantitative Easing, Corruption to Lobbying etc.😂

[@GazB85]

Over throwing your govt and installing a puppet to liberating them and bringing freedom and democracy. That's an old one that the Trumpists don't really use.

[@redalert2834]

This was very poor and biased analysis. The UK needs to forge stronger ties with the EU and try to repair the harm done by that Boris twerp. The USA will soon be gone completely. The UK would be fine if all ties with it were severed now.

[@LukeMosse]

The US is gearing up to replace Taiwan as the biggest producer of semiconductors with the most advanced foundries, which cost tens of billions to build and require access to tech which the US has finally had the sense to properly ringfence, so no, they won't be gone completely any time soon. These are moves are anticipating the fact that we are moving into a multipolar world. The tariffs are reshaping global supply chains because China has had the world over a barrel, and pretty soon they are going to use whatever leverage that gives them to try and take Taiwan.

[@MISSYGful]

Exactly this. Between BRICS and CETA I'm not exactly sure why the UK needs the US. We only do 10 - 16% of our trade with them , why can't we just switch it to Canada and Mexico which provide the raw materials and food to the US anyway. Cut out the middle man?

[@MISSYGful]

​@@LukeMosseErr no. Taiwan is going strong and have deeper connections to China, their neighbour. If the were a replacement to be made for producers of semi conductors it would be a country like China or Canada that already has the infrastructure, logistics and most importantly raw materials in place.

[@LukeMosse]

​@@MISSYGful I don't think that's right. The CHIPS Act is putting $52 billion in subsidies into making the US the global leader - surpassing Taiwan - for chip manufacture. Taiwan's TSMC itself is building it's latest and most cutting edge plant in Arizona, not Taiwan, along with Samsung and others. The USA is also reshoring for longer term energy independence and raw materials independence. Taiwan may end up with stronger ties to China, but they are not set to dominate by 2030-40.

[@drunkensailor112]

​@@LukeMosse52 billion dollars is a laughably low subsidy. That's not going to change anything

[@verttikoo2052]

It already did backfire spectacularly. Canada and Mexico can grind the US economy to the ground.

[@texasray5237]

Every country in Europe is thinking about BRICS.

[@williamlucas5852]

Mexico already had almost 15,000 troops at the border. So Trump made a deal with Mexico to have 10,000 troops there and he thinks he had won ?? Duh ? Who came out the winner in that deal ? 😂

[@aafiaturkey6748]

Maybe EU shouldn't follow US blindly Ukraine, Gaza and now they getting punished 😂😂😂

[@chriswong9158]

The world has become a board game in which: USA is playing Checkers, thinking 1 move ahead. Russia is playing Chess, thinking 5 moves ahead. China is playing Go (Weiqi 围棋), thinking 10 moves ahead. China has multi-Billion $$$ trade option worldwide

[@rivaterrier]

Varafakis assessment of the disappointment in Starmer’s government is withering but fair.

[@lacdirk]

If he hadn't made an absolute fool of himself in Greece it might have had an impact. As it is, who is still booking that guy?

[@Caius1930]

@@lacdirk Plenty. How did he make a fool of himself by being the only cabinet member to resign as a result of his integrity? I've no clue what you're actually trying to refer to

[@lacdirk]

@ He is a populist of the left. He aggravated the crisis in Greece, and campaigned as a populist for a position that would have destroyed the Greek economy entirely. He left because he wasn't willing to deal with harsh reality of having to actually make things work. He's one those left populists that used to be a major problem for European democracies, before that position was taken over by the right populists. They're all great at making people angry, not great at actually coming up with reality-based solutions.

[@Caius1930]

@@lacdirk I think further bluffing on the part of Greece even if not actually leaving the eurozone would have helped. If not, actually leaving the eurozone and gaining control of their own currency would have likely not been that much more catastrophic than what Greece has had to go through by yielding to the pressure

[@Caius1930]

@@lacdirk unless you think governments forever bending over to financial institutions and the myth of austerity during times of economic turmoil is 'making it work' and 'realistic' and at all useful in the longer term...

[@BrambleWood]

We should be making a stand with the EU and with Canada, but public opinion means nothing to this government

[@ablam8]

China, 2024 GDP= 5%... China just opened up 12 million new jobs for young people. China should amaze us.

[@SueWang-r1v]

Very intelligent speaking lady! 😊

[@vinceaaron8921]

a negotiating Tactic? by going against a agreement that he negotiated he is basically saying i will keep ripping up deals until i get one i like. why bother wasting time with him since he can't honour an agreement.

[@GazB85]

Exactly!

[@CarolMartin-xm1ri]

C'mon many a truth was said in jest - he is considering overtaking Canada and waiting to see how much havoc he can create elsewhere to distract----if we get out of this alive the friendship is over. Americans don't want their manufacturing back - they want cheap goods and less pollution the mfg brings.

[@pcebro]

Don't understand why everybody takes this bully seriously.

[@GazB85]

Cause they're in control of the US government.

[@duinay3]

It's an additional 10% for China which makes it 35% tariffs

[@anttikaipainen6072]

Funny that the expert commentator is the former treasury minister of a failed country Greece. Please tell us mire about spending money and taxes? You know anything about them?

[@SH976]

Greece was a failed state before his time.

[@chrismelia1315]

He became finance minister of Greece after they were deep into debt and tried to stop them increasing the debt

[@GazB85]

Greece isn't a failed country. 🙄

[@paulrees9531]

Initially, I thought they were all quite learned . That is until the mention of the UK housing market being literal more than a Ponzi scheme. :) quite ridiculous

[@donnamorales2852]

Trust Trump or not Trust Trump, that is the question WORLD!

[@mollypenwhistle2274]

How can you even think about trusting ….

[@DarkXcb]

When are the price of my eggs coming down. 😝

[@testingcsr]

Can Europe absorb all the imports from China , as Europe is fueling the growth of China

[@yunsi7954]

Self important

[@ranar1036]

Trump is a Paper Tiger!

[@NewFrontier63]

This economist is wrong. China does not have to absorb these tariffs. US customers absorb them.

[@GazB85]

When did he say that?

[@Kicklighter.A]

Yanks Yanis nailed it with his description of Labour.

[@nicktw8688]

As an outside observer, they are remarkably spineless.

[@fatimataidrissa-bangura202]

Lots of thanks for sharing the 'Channel Four News' with us via You Tube. I've taken ages without listening to your News. 🎉🎉🎉🎉🎉🎉🎉

[@roni2977]

Are there any tarifs on middle east? 😂😂 or oil has to remain cheap?

[@photonboy999]

Canadian oil processing can't easily switch over to other sources. So a 10% Tariff on Canadian oil will affect prices. It's hard to say, because the Saudi are helping Trump with his COUP so I have no idea how that plays out. They probably would help keep oil prices low so Trump isn't attacked more, but Trump is so erratic he did the Tariffs in the first place despite the obvious bad optics. Tariffs on the Middle East? Ain't gonna happen. Trump aligns with the bad countries. Follow the money. It's not about what's good for America. He's backed by Russia, Saudi Arabia and Donors like Elon Musk who want to remake the Federal Government and take it over forever.

[@AlanahDershovitz]

@@photonboy999 When negotiating with Trump world leaders should remember the U.S. has a trade deficit with China, Canada and Mexico because maintaining the biggest military in human history is very expensive.

[@johnproton259]

Never thought I'd see Yannis become a simp.

[@aaronwernz5788]

If it is actually that economically damaging to use Tariffs and trade quotas, like Trump is proposing. Then why has the EU been using those tools against the US for years ? 🤔So do Europeans think it is only damaging to the US economy if they put Tariffs EU products, but it’s somehow not damaging for the EU economy when they put Tariffs on US goods? Then why don’t we just fix both of our economies and the EU can stop Tariffing American products and the American won’t Tariff theirs. The EU seems to only want free trade if it is a one way street. Stop acting like Trump is being unreasonable to expect that free trade should go both ways. Or at least admit that is exactly what you are clearly trying to imply.

[@tonycavanagh1929]

Lets just promise to send troops, to the American border. We dont need to, but Trump can tell the people he won a great victory.

[@OlympischbriesjeNadaAverage]

Insanity is real in this time line, however I've not heard nuclear threats for a while... perhaps all these manipulation does distract us from other hunger of fatalities

[@2ru2pacFan]

Domestic products will still cost more than the imports including the tariff increase so let's see how this goes 😂

[@naomibeery8098]

Anyone who imports to the usa has a pass to raise their prices.

[@franciscouderq1100]

My my my can channel 4 find a more liable lea bias individual than this Greek dreamer who is trying very hard to keep himself relevant but failing each time

[@jayjayaseelan7441]

The world needs a different currency.

[@polyglot8]

Poor, young girl going up against Yanis.

[@GazB85]

She wasn't up against him.

[@polyglot8]

@@GazB85 In English, "to go up against someone" just means you were placed opposite them in a discussion. It doesn't mean you were necessarily against everything that person stands for.

[@GazB85]

@@polyglot8 I'm English and know what it means but she wasn't even his opposite really, just another voice.

[@hc8379-f4f]

Varoufakis just confuses things. York is pretty clear. She relies on plain economic theory and data while he gets all caught up in specific things. She's clear on American imports of intermediate goods that cause inflation in American final production -- assuming American factories can actually produce all the final goods to make up for what is not imported. He just brings up specifics (WalMart, for example). Trade theory is pretty clear on the interplay of the value of the US$, tariffs, flow of capital, and flow of goods, intermediate and final. The US can't eliminate the trade deficit. That's the bottom line.

[@andidevrede822]

I'll never take anything Yanis Varoufakis as literal. I thought Channel 4 was better than this.

[@ibrahimn22]

Yanis is dropping some truth bombs

[@franciscouderq1100]

Yanis is a nutter

[@johnkeane1419]

A total fantasist who couldn't run a bath.

[@harrycosmo28]

I never have any idea what Yanis is talking about but I can tell that he really knows his s***.

[@DoubtingTom]

Yes, he is full if it.

[@achimboers]

Not sure why you even bother letting this guy talk on you show. Seriously

[@duinay3]

Tariffs completely punish the US companies - China just laughs

[@Xiuyanlin-s7n]

I hate Trump...but i hate his ignorant supporters more. .

[@Daniel-ii6kf]

Meanwhile, your PM literally destroyed Canada.