Why Tariffs Could Backfire

[@Darksnovia]

I don't want to hear any Trump supporter complain about everything going up in price in the upcoming years they voted for this.

[@ryanadams0922]

We got to start making that sticker of it shows Trump saying "I did that" on gas now.

[@inertia86]

They will find someway to blame the democrats for their problems

[@JackFoxtrotEDM]

@@NCR-Trooper2Oh yeah because it's totally that easy lol You offering to pay for travel expenses?

[@LafemmebearMusic]

@@NCR-Trooper2can you speak to what he just said ? Can we like have actual discourse? What do you think about what the person in the video just explained?

[@JessicaMiller-pc4dj]

​@@LafemmebearMusicI don't think we're going to get any sensible responses from someone who tells you to move somewhere else if you don't like it 😔. Even when they are on fire from their inevitable downfall. Not being salty (much) but I don't respond to posts like these.

[@AMXhotrod]

As a small time home builder, Trump's tariffs drove up the costs of plywood and fasteners (nails, hurricane clips, anchor bolts) 200%-300% when he was in office. You think I'm going to eat that cost increase...gtfo. I passed it on to customers then and if he does it again, I'll do it again. That people don't understand consumers pay for tariffs is a testament to their stupidity in voting for him.

[@isaacs9022]

"I love the uneducated" - Donald Trump

[@johnmalloy101]

Yup, and remember the lack of goods? I'd spend my whole day chasing down parts back then. Now, they will be importing the bare minimum or they will be US made and even more expensive.

[@neotheboxer]

Yes, even DIYers saw that cost increase and the quality of those products also dropped

[@thrasherwartooth]

I build decks in my line of work. I definitely remember that. The plywood costs alone was mind boggling. Getting steel was a joke too.

[@AMXhotrod]

@@thrasherwartooth so you probably had your joist hangers , deck screws / nails and galvanized bolts jump 100% too.

[@jasonc9495]

He is 100%. I want to add that some companies straight stop importing a product because they can't afford the tariffs or there is not enough gross margin to cut. So the company goes under and people lose jobs which makes it worse for the economy.

[@Banana79144]

Very very very true. Alot do not understand simply blah blah blah like MRI = mxxxn rexxxd ixxxt. 😀

[@Zetirix]

Why can't these companies start producing domestically then? Sounds like big evil companies don't want to pay fair wages, extract the most profit for themselves, and blame everyone else when the business model has to adapt.

[@Owlerycrinkie0918]

You have basically just rephrased what Dean said.

[@FAFORednickincell]

@@Owlerycrinkie0918how about Americans cheered on tariffs from both sides of the aisle Then stood in line for hours at the election booth. With the majority voting based on the fact their cost of living went up

[@nono-yd8ij]

@@FAFORednickincellI’m a moderate but lean left I did not cheer for tariffs. If you cheer for tariffs without actually looking at it for what it is. The country will fall apart.

[@hikerlady2637]

Thanks trump & all the idiots who voted for him.

[@guydavis825]

Try running someone with a brain and not a communist next time 😊

[@Savageninjawarrior]

Ellen Musk OUR very own Gru used starling to spread lies ND purge votes!!

[@JanelleChristmas-w6u]

Just because Trump said she was a communist, does not mean that she was truly a communist. If you will remember reality for the past 44 years; it has been republicans, federalists, libertarians, independents who are/ were/ lean/ sway conservative, gopers, evangelicals, magas, the right+ conservatives who have been practicing communism, especially 💲 communism for the past 44 years ‼️📣 What do you think s*ealing 💲 from everyone who is not rich, corporations, the wealthy &businesses, which is all republicans, federalists, libertarians, independents who are/ were/ lean/ sway conservative, gopers, evangelicals, magas, the right+ conservatives have done& advocated for for 44 long years now only to give that s*olen 💲 to only the rich, corporations, the wealthy &businesses is ⁉️📣 That is the exact definition of communism except they do it in reverse ‼️📣 But you all can see it, live it, experience it, read it+ hear it but you all intentionally choose to believe in real reality, facts, education, history and the truth 🤔🤯

[@trufan7358]

​@@guydavis825lol... that's laughable. You sound stupid calling a former prosecutor brainless. Or maybe its because she's a woman. Yeah that's probably it.

[@dalebabcock722]

Donald Trump Praises every dictator and all of our enemies . He literally allowed four balloons to fly overhead while he was president And you want to call Harris A communist ? . Donald Trump didn't even know he was the president of Puerto Rico.. the man looked up into the sun without glasses. ​@guydavis825

[@aneudisacosta2227]

Enjoy your tariffs America this is what you voted for.

[@laurakrajnikburick2731]

I didn't vote for this, the right and other idiots did.

[@tommywatkins790]

@@aneudisacosta2227 what idiots voted for. Not all of America. Stop lying

[@bodhisattva2348]

😢

[@thehatefull1761]

​@@laurakrajnikburick2731stay salty

[@mla4186]

No the fvck I didnt

[@fionarobertson8841]

Business owner here..they will raise product costs and end a lot of small businesses

[@Alverant]

Feature, not bug.

[@pychang21]

Perfect for trump and his rich buddies

[@lmboyd3]

@fionarobertson8841 and to add to your comment: I could see that as a means of minimizing the competition forcing consumers to pay whatever price the larger companies set. Consumers can’t cry, “what is the government doing because the government will be gutted and/or monitored by Trump’s cronies and the path to deregulation of government authority to step in and regulate corporate powers was set in motion by Republicans since the 70s. America is about to taste the bitter truth of authoritarian rule. Take care the best you can.

[@bklyncrook]

Somewhere Walmart, Amazon and the likes are doing the Birdman's hands movement since they can absorb the initial impacts, and write off those losts as "expansions" or other tax technical jargons.

[@HomeFromFarAway]

monopoly capital will eat the free market

[@jenniferroberts9406]

Econ 101. Needs to be taught by 8th grade. Oh yeah Project 2025 wants the Education Dept gutted.

[@Banana79144]

Already dunno what is.tariff than take out education. Hahaha you guys will end up D & Dxxxxer😀

[@Zetirix]

What has the Department of Education done for you? Test scores are down, many kids graduate without being able to read or do math, especially in minority-majority counties. We landed a man on the moon before the Department existed.

[@Gothy420]

The poorly educated are much more easily scared.

[@Tahoi5678]

No more education, more mindless slaves that all of a sudden does not understand math. So there will not be a backlash all of a sudden when people earn 5 cents a year while everyday goods costs more than 100 dollars

[@steph8842]

They also want to remove child labor laws....so the plan is force women to give birth, keep them stupid by destroying the DOE and put them to work as soon as they can for cheap. In other words, they are looking for fresh crops to use and abuse.

[@that_one_bob]

Let's not forget that nothing stops US companies from taking the opportunity to raise prices as well, to increase their profits.

[@jenniferroberts9406]

@@that_one_bob You think?

[@hernantuquero5969]

No one's gonna buy it if it's to pricey.

[@that_one_bob]

@hernantuquero5969 if the US companies raise prices to be just below the tariff increase or to match it, consumers won't have other options.

[@IkePhillipRuffin]

@@hernantuquero5969 This is why he's talking about getting rid of income tax, so his corporate lords can raise prices because "people have more money". People will fall for this stupidity.

[@Andre-zd8ke]

@@hernantuquero5969 If the customer wants the product, and many products are non-discretionary or close to it, the customer will have no choice but to pay the higher price.

[@debbiefranc105]

Trump was President for 4 years and he still doesn't know how tariffs work. God help us.

[@nathanbredhold4399]

He knows how they work. He also knew 71 million wouldn't know how they work.

[@RiceShouldBeFluffy]

​I doubt it. I think he's dumb enough to believe it will work.

[@sunnyside9273]

He knows, he just doesn't care. His soybean tariffs with China turned into billion$ to bail out farmers.

[@Kiskadee8388]

Trump supporters, including Vivek Ramaswamy, attest to billionaire Trump's business savvy. 😳

[@chucklenhardt7902]

It shouldn't surprise anybody The man bankrupt his businesses six times now he will bankrupt the country!

[@whatisrealknowtheformula6137]

Doesn’t matter. It’s over, folks. He pulled it off: We’re stuck with the bill. And there’s nothing to be done. Idiocracy wins.

[@Sheila75]

And somehow Dems will be blamed. 😔

[@ngw-1fqv]

MAGAs can’t blame the Democrats. MAGAs are the ones who are idiots; they don’t even know what tariffs mean. 😅😂🤣

[@milkflavored]

Looks like we won’t be buying too much stuff for a few years - we’ll need to save money and cut corners

[@spanishfly5660]

You hit the nail on the head that Criminal won't see a Day in jail either.

[@spamniese99]

@@Sheila75 that part

[@bobclarke2242]

Great explanation of how Tarriffs function. Thank you..!🇺🇸

[@debbiegirard1960]

I agree! The best and clearest explanation of how tariffs work. So much easier to understand when you use an example, especially one that consumers can relate to-buying a t-shirt!

[@benjaminchisolmjr7863]

So this country traded a price of eggs for the price of women's eggs which is priceless women will basically be having kids in captivity nothing is worth that price America has fallen and failed big time trump's white republikkkan staff will be worse than first one a bunch of unqualified people, because some people couldn't wait for Harris to be in charge.

[@antihypocrisy8978]

Proposed tax cuts also favor the rich. Meanwhile, tariffs are a form of regressive tax. The working class spend a larger percentage of their income.

[@paulaoh5306]

Right.

[@dallaynavokan5513]

Pretty sure that's not a bug but a feature for them.

[@Banana79144]

That was what Kam said. The taxs cut will favour the richie rich. But hopefully they can bring the cash to heaven...oh wait wait it says legal tender on earth ...haha too bad...

[@rogerogrant]

Exactly. Effectively transferring yet-more wealth upwards.

[@froggybug]

Plus we get to subsidize the taxes his buddies aren’t paying. Haven’t you been saving up for that you sluggard? Didn’t Bush tell you to do that years ago.

[@Army_Brat1980]

This mans voice is beautiful! His explanation is perfect!

[@bhornannawindeedeigh5007]

I love this guy... explaining in Layman's terms. Thank you, sir. I appreciate you.

[@chadcoffman1870]

Can we have a vote to elect this man to be in charge of our economy. I have studied economics for along time but could never explain things in such simple terms as he did I think a lot of people would understand things a lot better if someone like him was out there on a main stage to give this info to the American people. There are some many people who still think tariffs are paid by the exporting country! Very smart man you are great job!

[@thetruth1635]

That Trump weed is powerful . More potent than crack 😢. This is going to be 💩 show .

[@charmedlilsis1]

This is just common sense. But common sense apparently isnt common.

[@RJE1996]

Had someone tell me that there’s no such thing as common sense. Just good and bad sense.

[@thehatefull1761]

You voted for a party that doesn't know what a woman is or what bathroom to use and here you are talking about common sense this is why y'all lost the election

[@theresadyer9856]

😂😂😂😂 right

[@JonsonJavier]

It's becoming rare these days where those who have no common sense outnumber those who have common sense. A tragic reality.

[@thehatefull1761]

@JonsonJavier you're dumb I've been known that for years the truth is that the average person is dumb and you're one of them you thought the average person was smart know you live in an echo chamber and you're out of touch and delusional

[@Pens724]

I'm in the process of renovation our family home into a single house from a duplex. His previous policy caused everything to skyrocket in price, which slowed renovations. Prices have finally started to slip, and he's already planning to do his stupid thing again.

[@lochnessspeedwerkz6557]

"could backfire?" Trump doesnt even understand wtf a tarriff is or how they work!

[@nz.co_2332]

No he's not dumb he no's what he's doing he's a con man 😂

[@TheKrow1984]

With the loss of more money from taxing the 1%, it would balloon the national debt so fcking fast and we would be in a recession, potentially depression… not to mention the loss of immigrants who work jobs that lazy Americans don’t want to even work, we’d be losing even more supply. Might lose some demand with the deportations but it’s all fcked either way.

[@lancelavigne8702]

HE MUST DIPCHIT ,,IT RACKED IN MILLIONS

[@dwighthaberly1199]

is that why Joe/Kamala kept EVERYONE of Trumps tariffs in place and even added one against goods from china????? Please educate yourself before posting.

[@ThaKandyLady]

​@nz.co_2332 yup working for Russia 😂

[@janicewilliams433]

Already is backfiring. Companies are cutting bonuses to purchase more raw materials they need before January, when tariffs.go into effect. Those savings will not be passed onto the customers. Prices will go up to cover the cost for the next order of necessary materials.

[@heyaisdabomb]

And this is the second problem. Companies plan ahead, so the real effects of this will take a few years to reverberate through the economy. Just in time for a democrat to take over and get blamed for everything.

[@JanelleChristmas-w6u]

There will be no more elections 😭

[@lanoi3660]

Thank you America for voting for tariffs. Appreciate it 😩

[@FAFORednickincell]

To be fair both Trump and Biden did their fair share of tariffs

[@NCR-Trooper2]

​@@FAFORednickincell I mean if youre in need of a cheaper price for your computer parts in the future, just pm me 😂

[@Dranomoly]

@@FAFORednickincellBiden kept tariffs in place as once they are on, taking them off is taking a negotiation chip off the table for free.

[@FAFORednickincell]

@ nice narrative as you Americans ran to the election booth complaining about cost of living and inflation The funny thing is we in the west just paid more for our Chinese made goods Their goods just went through middlemen countries so we could have the privilege of more costly goods And we could pretend to be vir tue signal ing acting like suddenly woah oak snow fl aches Here is an example 👇 In 2023, China remained the top exporter of parts to Vietnam, with more than 90 per cent of the total value of imported “telephones and parts” coming from China. China is also the largest provider of electronics and parts for India, providing US$27.6 billion worth of electrical machinery and parts (which includes phones and their components) in 2023. And as of 2023, roughly 90 per cent of components feeding Tata Electronics, India’s sole homegrown iPhone assembler, originated from China. Indeed, both ‘Made in Vietnam’ and ‘Made in India’ mobile phones still substantially rely on imports from China. AsiaPacific

[@FAFORednickincell]

@ btw what the heck was there to negotiate All these older Americans Jerry act tricks acting like sud denly woah oak snow fl ache Americans they dislike so much ​​⁠ ​​⁠Back in the late 1980s I was warning about Free Trade and the push for Globalization Especially when it came to the rise of CCP China. This was before their GDP was even a blip on the radar. When 88% of the population was nee deep in the mud of the family rice plot or making 1 dollar a day on a factory floor yet was getting laughed at and called a CCP 50 cent army poster. Must be a Communist Trai tor, against Capitalism and worse names That’s because these Conservative minded folks back then, were pushing for Globalization and Free Trade Going back as far as 1972 when Nixon went to China to get them to open up? It was just 10 years after the Great Leap Forward And right sm ack dab in the middle of the Cultural Revolution where 10s upon 10s of millions in that country met their demise Yet we spent the last 50 years buying the gadgets made off of 100s upon 100s and 100s of millions of migrant workers Paid slave like dollar a day wages So yes… since then we have all sold out typing suddenly woah oak snow fl ache indignation on our Chinese made gadgets even if not made in China will have Chinese made components in them. Right down to the very rare earths used to make them If you are a Democrat then you let them flip the switch on you Like you wanted to offshore the union jobs of your voting base that use to be your blue wall/rust belt States

[@scifiknut]

Yep, this is not a hypothesis. Importers have to pass the extra costs on to US consumers. They have no choice if they want to survive. This will not only affect finished products, but any US manufacturer using raw materials from outside the USA to fabricate and assemble their products will also be hit hard. This tariff proposal is both a job-killer and a nightmare for household economies. If anyone thinks inflation has been bad up until now, guess what will happen if Trump wins and gets support for this kind of proposals... Mamma mia. Trump can brag about having gone to that Wharton school all he wants; he's proven to everyone that he's a financial illiterate.

[@toastedtarts4044]

He went bankrupt 5 or 6 times. I hope he doesn’t become president

[@truthache8560]

So you would rather Apple use slave labor and highly polluting factories in China rather than help Americans. All for a mildly cheaper product, capitalism is the evil idea? 👌

[@aaronjjacques]

The same is true with any tax including harris 25% unrealized gains tax. Soooo it a pick your poison .... at least with trump tarrifs you get the counterbalance of his energy policy and the potential of renegotating bad trade deals (NAFTA->USMCA)

[@sawtooth808]

One of Donald Trump’s former professor’s at Wharton had this to say about Donnie “He was the dumbest GD student I ever taught”

[@truthache8560]

@@sawtooth808 Gates was a college dropout. Who TF cares?!

[@Insomniac-c7e]

Tariffs aren't meant to punish the supplier but the buyer.

[@BlueSoldier87]

But when all you do is chant slogans and thrive off racism, you’ll listen to the guy saying it

[@forchance3879]

It's means the poor consummers of inner cities, Bible belt, and rust belt states will pay for Trump's tariffs.

[@Alverant]

@@forchance3879 Who will still blame everyone else but themselves for the increased prices.

[@ContentThatMakesMeContent]

most trump supporters don’t even know how to spell tariff, we’re cooked

[@hasensue]

​@Alverant they will continue to blame Joe Biden

[@paulsolar7703]

Exactly...tariffs 101

[@vangu2918]

We learned this in civics and econ classes. They stopped these classes in most schools.

[@hannahcallow6374]

Well, it's more than that. Prices always have a profit margin, and costs go on top of that. That's how Ukraine's limited production impacted grain supplies & costs to countries who didn't even buy from them

[@conormil1268]

Then when he leaves and the tariff gets removed will the companies bring their prices back down? Nope

[@toritori5835]

Plus tariffs are incredibly difficult to undo. It’s why Biden didn’t rescind them.

[@Authorthings]

Nope. Plus, the only reason things are high right now is because greedy corporations keep testing Americans to see if they'll still buy something.

[@BokushingusKendoTV]

@@toritori5835which was a big mistake by the Biden team. Because Trump used that to blame them for increased inflation.

[@CraigMullenmeister]

@@BokushingusKendoTV dtrump was elected by HATE, tariffs was not an issue on MAGA radar. Their HATE is all empowering and enabling.

[@gDiniM]

​@@BokushingusKendoTVthe fact that that worked is what is truly amazing. He blamed another administration for not undoing his bad policies and rode that to as close as a modern rep. will ever get to a landlside.

[@drtyboy]

The dude whose 6 casinos (ya know, the type of business where people literally throw money at you for a chance to win a little back) went bankrupt, is going to fix the economy...Let that sink in.

[@barbararice9639]

Yeah brokest millionaire ever lol the fools a total brainless moron.

[@gitslover9834]

I don't understand how you lose a business where mostly old folks go to relieve themselves of their savings and SSI either.

[@eazyez5717]

​@@gitslover9834because at that time trump went all in with personal debt. Add to that that there was a financial crisis, so people tend to spend less in casinos. And (with his hyperinflated ego) he made them too big. Too big means more cost of construction (in debt) and more cost on electricity bills (not only slot machines, but also all the lights), staff cost. Not a great entrepreneur. But he also had external factors.

[@martinschwager5248]

Yes, tariffs will increase inflation and economic retaliations from other countries will lower exports, destroying jobs.

[@askajk5895]

Making any current job VALUABLE and in demand. SO no more wage increases or Union negotiations. As the job left will be in demand and competition to keep these jobs no matter the conditions. Back to the good old days!

[@FAFORednickincell]

@@askajk5895 Losing jobs wont make that job that was not loss, more valuable… it will put that job at greater risk of becoming a losing job as well The problem is Americans consume more than they produce So even if a few jobs become more valuable as you expect The majority of Americans will still be paying more for their goods Let’s not forget the biggest factor/reason for Americans flocking to vote this election cycle was the economy, inflation and cost of living etc …. That they cheered on in the form of tariffs when trump first got elected and Biden kept most of his tariff policies Where these days ? China has record trade surpluses You might have a tariff vvar with each other (the USA with other countries as well) While the Chinese are lowering or getting rid of tariffs to other countries And like I said having record trade surpluses 👇 On 1 July 2018, China slashed the import tariff rates of daily consumer goods involving 1,449 tariff lines. The term ‘daily consumer goods’ covers eight categories of product: food; apparel, footwear and headwear; furniture and houseware; sundry grocery items; cultural, sports and entertainment supplies, home electronics; daily chemical products; and medical and health products. The average tariff rates of the goods involved have been reduced from 15.7% to 6.9%, a reduction of 55.9%. Among these, the average import tariffs for apparel, footwear, headwear, kitchenware and fitness products have been reduced from 15.9% to 7.1%. For home appliances, such as washing machines and refrigerators, the reduction was from 20.5% to 8.0%. For processed food, the rates were cut from 15.2% to 6.9%. The average tariff rates for detergents, cosmetics, such as skincare and haircare products, and some medicine and health products have fallen from 8.4% to 2.9%. This is the fifth time that China has lowered import tariffs for consumer goods in recent years. In November 2018, China reduced the import tariffs on 1,585 taxable items, including industrial goods. The average tariff rate for high demand mechanical and electrical equipment, such as construction machinery, instruments and meters, was lowered from 12.2% to 8.8%. For textiles and building materials, the average tariff rate was cut from 11.5% to 8.4%, while that for certain resource goods, such as paper products, as well as primary goods fell from 6.6% to 5.4%. ResearchHKTDC 👇 China starts zero-tariff treatment for 6 least-developed African countries Positive move to continue bolstering bilateral trade, show demonstration effect 8 Aug, 2022 The Customs Tariff Commission of the State Council said last week that it will axe tariffs on 98 per cent of taxable products from “least-developed countries”, including Cambodia, Laos, Djibouti, Rwanda and Togo SCMP 👇 By GT staff reporters Published: Dec 25, 2023 09:45 PM The zero-tariff treatment China had granted for six least-developed African countries officially took effect on Monday. Experts and industry players noted that the move will bolster trade between China and Africa while showing a demonstration effect for China's cooperation with other markets. The Customs Tariff Commission of the State Council, China's cabinet, announced on December 6 that 98 percent of taxable products from Angola, The Gambia, the Democratic Republic of the Congo (DRC), Madagascar, Mali and Mauritania would be exempt from import tariffs starting on Monday. GT

[@JanelleChristmas-w6u]

Are you being sarcastic?

[@brandons9138]

It's worse than he says. At the original price of $10 cost and $12 dollar sale, that is a 20% profit. So now if the tariff is $2 now the shirt costs $12 and they still want to make that same 20% profit they'll have to sell the shirt for $14.40 to maintain their same profit margin. So the costs go up even more.

[@tylerjackson2314]

Correct. His starting example of still making $2 profit is in fact already a reduction in margin. By making a dollar on a $12 dollar product means they have cut their profit margin by almost 60%. I don't know of any companies that can take a 60% profit margin hit and still stay afloat.

[@Authorthings]

It'll be way worse since most consumer goods I see at stores are already marked up 150-300% to cover costs of shipping, manpower, shelf space, and making a huge profit.

[@stefanth8596]

I dont think that is how you calculate the profit, but will probably happen anyway. And add the sales tax on top of everything.

[@LSX427]

That is exactly how it works. Companies operate on profit margin...that is why companies are recording record profits....not because they increased their margin percentage...but because the cost of goods is higher then they simply apply the same margin percentage to the elevated initial cost...= more dollars profit. 10% of 10 dollars is 1$ 10% of $12 is $1.20 Profits go up without ever changing the profit percentage. It's perfect for capitalism. Sell less product for more money requires less employees and resources = higher profits

[@leonlowenstadter9223]

Fun fact: A higher sales price is beneficial for companies as they aim to keep their margin in percent. As tax cuts usually are a stronger relief for those who pay high taxes, for example company owers, they get a double benefit: More income in Dollar and lower taxes on that income.

[@raceytray3963]

Unfortunately, this doesn’t fit on a bumper sticker

[@sd1660]

😂😂😂 you win for the best and most accurate comment.

[@kennethlui2268]

Correct. Sadly a lot of people including MAGA don’t understand it.

[@paulberube55]

Its above MAGA comprehension. Thats why MAGA loves the uneducated.

[@Gothy420]

They would understand it if trump told them what it was.

[@Redrgon25]

It just isn't MAGA, it's most Americans.

[@gDiniM]

​@@Gothy420well trumo would have to understand it himself first. Have you heard him try to ecplain tariffs? 😂 granted I know hes probably just lying to make it sound better, but publicly we have no evidence that he knows how they work.

[@Gothy420]

@gDiniM Well, if he wouldn't lie through his teeth, but that's another story.

[@jesussalas2563]

I'm ready for all the shocked faces 🤣🤣🤣🤣

[@Videome123]

I'm so glad there are videos out like this one that can educate "Americans" on tariffs... Sadly there are far too many Americans that either will not understand this basic concept or won't believe it.

[@neotheboxer]

They didn't see it. So...here we are.

[@Videome123]

@neotheboxer I'm not surprised due to the popularity of the opposition. If someone can be as corrupt as he is and still have a base, that speaks volumes about the ppl who voted for him.

[@8eeable]

When Trump said all across the board tariffs the magatards clapped and cheered. Clueless and still are until it hits their pockets.

[@gDiniM]

"I need to hear what dear leader would say about this, theres no way this is true. This is just leftist propaganda to try and fearmonger me against trump" -average american in 2024

[@truetrunks]

An increase in tariffs also doesn’t consider that taxes are progressive in the US. Tariffs would increase prices for everyone evenly, but would likely impact the poor substantially higher since they pay less taxes in the first place.

[@Therap1ssed]

Correct, sales taxes and tariffs disproportionately hurt the working poor because the working poor tend to spend all the money that comes in, so all of that spent is taxed at the cash register, whereas wealthy people may only spend 10% of what they net, so that sales tax or tariff has a much smaller impact to their overall earnings.

[@concernedrabbit9075]

Will backfire not may backfire

[@K81Patel]

It's not a 'will'. It is a 'may'. In his T-shirt example, he didn't say that we'll pay less in taxes on foreign products. To take his example a little further: You have TWO tshirts. One made in the USA for $19-$22. One made in China for $18-$23. The China made T-shirt is more expensive due to the tariffs. The USA one is expensive too but it's made in America with Jobs IN America. Which one will the US consumer buy, one that has more discretionary income due to income lower taxes. When we support made in China products, we are supporting China. The whole theory of raising tariffs is to lower federal income taxes. So if you wanna look like a baller and drive a $150,000 German made car, $75,000 of that due to tariffs, go right ahead. I'll be fine with my $75,000 Ford that was made in the USA... These complicated subjects cants be fully explained in 120 second clips...

[@azurekutella3812]

Did backfire. Even if something isn’t wholly built in China, it’s more expensive to build things because so many components come from there. Appliances, electronics, and vehicles are impacted.

[@xxxcool2565]

​@@K81Patelthe cost to manufacture in US is significantly higher than elsewhere. So no, you will not have cheaper made in USA products.

[@xxxcool2565]

@@thedonzo506 how to have more jobs in america when demand is down?

[@thedonzo506]

@@xxxcool2565 i think trumps point is that the tarrifs and its effects will force manifacturers to come back to the usa

[@Adam.Langton]

Lol. Top economists spent decades working out free trade agreements, which have immensely benifited the signatories. Prices dropped and bussinesses were happy. Now it'll be undone by a guy who has declared bankrupy half a dozen times, and his followers who dont even understand who pays for tariffs. Unreal.

[@dhyt54]

Thank you for this. More of these kinds of simple explantion videos need to go out. More on taxation irs, how gov (fed and state) works, etc and how it AFFECTS everyone.

[@pepper6845]

Awesome breakdown 💙

[@shahankhan7685]

He explained it so well

[@robertforehand1631]

FINALLY, someone who understands the actual process! Yes, in emergencies or quickly imposed tariffs, China factories might decide to still produce the 1st tranche of orders for same pricing AND depending on how you buy the product (FOB vs LDP), USA company might get them to pay for Tariffs...but that is 50/50. In my 30+ years of Apparel/Fashion importing, many just xcl your order and you are left high/dry to your customers....most companies also buy FOB so as he just explained, any Usa duties or added tariffs are ALL paid by Manufacturer/Importer ...yes, usually the USA company so those tariffs are now just an additional COGS ( Cost of Goods Sold) line item ..... soooo tired of hearing the unintelligent people speak on this process when they have absolutely no clue who actually pays for the tariffs... Thank you for this video/share! Well done!❤

[@juant4972]

Thank you for explaining to people how tariffs work, it was a great explanation. By the way Trumps Tariff tax policy is to propose a 60% tariff on all goods from China and 20%. tariff on everything else. Those who complained about our economy is for a rude awakening. Go to your grocery store and look at where is says made from.

[@renel7303]

Plus people don't realize how much of our prepared foods in cans, boxes and frozen are made using ingredients sourced from other countries. For one thing almost all spices are imported. I bought a bag of frozen mixed vegetables once that listed 6 countries of origin. People are so clueless.

[@matchamatcha101]

My Chinese mom would regret this big time. "I TOLD YOU MOM!!!!"

[@Thomas-fj8ol]

president felons deporting of 60% of our farm help will sky rocket food prices

[@X-fd9yp]

I feel for the small business owners. They are going to feel It.

[@JanelleChristmas-w6u]

They are the main ones who voted for it 🤔

[@Space_Pirate1]

@@JanelleChristmas-w6u Yeah but sadly they don't know that. They will now. But they are going to blame everyone else except themselves.

[@mkusmic]

And especially if higher incomes get most of these tax cuts it will maken it even harder for lower incomes to afford life.

[@mfinchina__117]

Especially for lower-income families with several kids.

[@abjectt5440]

Republicans don't care about the little people. Only when they want their vote. The way things are going to go they won't even need that anymore.

[@kwats6510]

Not to mention this would give many of the large corporations cover to raise prices past where they need to in order to maintain their profit margins. Translation more greedflation. The Tshirt will be 20 dollars because they know they can use the tariff as an excuse.

[@abjectt5440]

Domestic companies not affected by the tariffs will hoist their prices and use it as an excuse

[@tajj7]

If you make loads of stuff cost more because the tariffs go onto the consumers, then consumers will cut back on stuff, because essentials will cost more and thus people will have less money for non-essential items. That is less disposable income, that is less people going out to dinner or to the cinema or buying luxury goods, those businesses make less money because less people are buying their stuff or services, they make less money, they can't afford as many staff, they lay people off, unemployment raises, that is more people who can't spend in the economy, so you start a vicious circle. You add into that, manufacturers or businesses in the US, their raw materials go up, the products they sell or the services they offer have to go up (like builders have to pay more for wood, bricks, nails etc. thus your home renovation project costs way more) they have to pass theses costs onto consumers, so those products or services get more expensive, less people can afford them, less people buy them and those small businesses go out of business, more people with no jobs, less small businesses buying stuff or even worse they go out of business you then have a knock on impact on businesses that support those businesses (like for example accountants might support a construction company, if the construction company goes out of business the accountant firm loses a client, makes less money on and on it goes). Further add in you get retaliatory tariffs from other countries, US manufacturing gets hit as more expensive US products means less orders, less profits, so less money, more job lay offs, less bonuses etc. even less money going into the US economy. Further further add in mass deportation of your undocumented cheap labour force making all your food, all your food prices go up. All of these plans lead to less growth, more job losses, more businesses struggling or shutting down, less disposable income because essentials have gone up, less money in the economy, more inflation and eventually all of that leads to a depression and probably a very bad one.

[@sophnoch4929]

Explained very well. Thank you

[@barbaragriffin869]

Very clear. Hope someone listens.

[@misterg4059]

No one listened 😢

[@JulieL96]

@@misterg4059 He’s preaching to the choir.

[@matchamatcha101]

It's too late.

[@madworld5511]

Elon Musk you recently came out and said “Americans will have temporary hardship under Trump’s plan” If temporary hardships under “inflation” wasn’t ok What makes them believe under Trump will be ok

[@JanelleChristmas-w6u]

Because it's under Trump

[@deeann424]

It is easy. Consumers pay for tariffs. Prices will be increased on any products with tariffs.

[@pearlinewright7314]

As a novice, I just got educated on Tariffs with such an easy explanation., now I can make my points clearly! Thank you sir!

[@JanelleChristmas-w6u]

I'm sorry but at your age, over 18, you did not know about tariffs? Tariffs are a tax and when they tried to use tariffs on a grand scale, USA people rebelled against it, because they found out it was some form of a tax, so they changed the name to tariff to deceive people.

[@nodeloliver6201]

Say goodbye to that little cafe you go to on your way to work. Coffee, sugar, and paper for cups are about to SKYROCKET. All imports.

[@suchondaegam]

One other thing he didn’t explain is that the importing company may not buy as much product due to the tariffs and increase the cost more because of the “lack of supply” to the consumer. Additionally, for retaliation, the opposing country would do the same to the US, and since the US is mainly a consumer our exports will be hit hard and thus creating a deficit due to foreign countries’ consumers not wanting to buy our goods. Doesn’t seem like a smart plan…but then again it comes from Trump…what can we expect?

[@Thomas-fj8ol]

we can expect a massive recession! prepare for it! thanks president felon...hail to the thief!

[@chrisper7527]

It’s going to be the beginning of the destruction of our economy. Trump is doing Putin’s bidding to destroy America. I told many people that Trump is a Putin agent, but they don’t believe. Putin won!!!!

[@sophiesworldofwonder9100]

Tried to explain this to a friend, at the end his argument was "Yes, but let's say they won't retaliate, because our products are so good, and we start producing more locally, we'd win, right?" As if that was an actual argument.

[@hahamasala]

Those people (and Trump) have no understanding of how long it takes to onshore production. Factories take time to make but starting a whole new supply chain takes time and may not even be possible for some products. Thanks Trumpsters! You'll pay the price the most.

[@JanelleChristmas-w6u]

I swear everybody needs to repeatedly call the white House tomorrow and tell Joe Biden, seeing as though you have all of the powers and you are still not going to do nothing, can you please write an instant enacted eo allowing some states to cede 🙏‼️📣 Please do this everyone 🙏‼️📣 That is the problem with people in the USA, they believe that they are so very s**rt. You need to teach your friend basic economics & reality, because he obviously doesn't believe in neither. I don't care how good the product is that you manufacture, corporations, businesses &enterprises will always go to the cheapest manufacturing country period, because manufacturing is a low skill job& you can teach anyone how to do it, even people in other countries, as corporations, businesses &enterprises have been doing for the longest time now, because it is the cheapest option for them ‼️📣 No, don't even waste your time because your friend obviously does not believe in reality, even though it has been steadily happen since at least Nixon.

[@JanelleChristmas-w6u]

I swear everybody needs to repeatedly call the white House tomorrow and tell Joe Biden, seeing as though you have all of the powers and you are still not going to do nothing, can you please write an instant enacted eo allowing some states to cede 🙏‼️📣 Please do this everyone 🙏‼️📣 That is the problem with people in the USA, they believe that they are so very s**rt. You need to teach your friend basic economics & reality, because he obviously doesn't believe in neither. I don't care how good the product is that you manufacture, corporations, businesses &enterprises will always go to the cheapest manufacturing country period, because manufacturing is a low skill job& you can teach anyone how to do it, even people in other countries, as corporations, businesses &enterprises have been doing for the longest time now, because it is the cheapest option for them ‼️📣 No, don't even waste your time because your friend obviously does not believe in reality, even though it has been steadily happen since at least Nixon.

[@heidimueller1039]

Yea, the US is going back to making T-shirts, because the wages in America will have to drop to 3rd world wages for that to succeed.

[@elipotter369]

Like what the Brexiteera thought in the UK. All unicorns, rainbows and sunlit uplands i think they call these fantasies over there.

[@Taecoconut]

Lols Australia businesses are already working to find different countries for consumers when we realised trump would win. Our dollar went weaker against the US dollar & the US dollar rose to try to counter the tariffs coming. A lot of us just started calling Asian businesses to build & stronger bond 😂 Americans don’t know what’s coming

[@yeahyeaheddie]

I have to agree with you the world is a big place a lot more customers than the American market.😅

[@catinbootsnow4267]

Option 1: As the host said. Option 2: The importer decides to import a $11 shirt with the same quality from another country to avoid paying the tariff. Option 3: The importer decides to import a $10 shirt with lower quality from another country to avoid paying the tariff. For option 2 and 3, the US consumers either have to pay $13 for a shirt with the same quality, or have to pay $12 for a shirt with lower quality. Being screwed, for sure.

[@millennialx9044]

In a few years 🎯 and Walmart will only sell MRIs, BYOB tap water, and 🔫 you want clothes go to the Goodwill SMH

[@phillipayoung10]

Or get them on clearance real cheap. 😮

[@elipotter369]

In Australia, almost everything I look at in those big chain stores like that are made in China. With Trump's tariffs the prices will be going up 60%. I wonder if they will still be filled with crowds in the weekends buying piles of stuff.

[@unserrano]

I tried explaining this to a MAGA friend NO LUCK !!

[@jopipes9963]

Thanks for the best explanation of tariffs, or otherwise, the reasons for some inflation.

[@kylenmaple4668]

I’m fairly confident a toddler could understand this. Yet MAGA is still confused and Trump thinks it’s good. Hmmm 🤔

[@Banana79144]

Haha they think they are mangas. Really?

[@Txbunny]

They don’t educate themselves. They just say, “that sounds good” and nod their heads. “Yeah. What he said!” 🤦🏻‍♀️

[@JulieL96]

@@Txbunny Right? I’m not sure if it’s laziness, naivety, or stupidity.

[@georgekoutsouridis9033]

​@@JulieL96 Go with stupidity !!!!

[@JulieL96]

@@georgekoutsouridis9033 Ha. I thought I’d give a little grace to not offend, but my first guess was stupidity as well.

[@MadRedBear]

That's one of the best explanations I've heard with a detailed description on how terrifs work, good job 👍

[@justified004]

People also don't realize how many things we import. So the idea that we will just start making things here instead of importing them is false, too. Companies would rather raise the prices on an imported good than build a factory here, hire more expensive labor, and pay taxes here. To produce goods here is more expensive and would also result in higher prices. This isn't hypothetical either. It has happened with every tariff in modern history, including tariffs from Trump's first term.

[@abjectt5440]

It sounds so simple to the simple minded. Of course they'll just blame the evil deep state Dems. smh.

[@Drownedinblood]

Basically the common person pays the price..

[@AZWildcat4Life]

Always

[@barbarahering484]

How can people not see this ?

[@pintbreaker9570]

They dont want to, they could, but they choose not to. It will be a rude awakening.

[@peterg9659]

the hatred blindsided thrm.

[@ElmerToribio-u3u]

thank you very much, sir! your explanation is very enlightening!!! God bless you sir!!!

[@YoBen100]

If tarrif was an answer, we would have done tons of it long ago. It's not a new concept, and for some reason, people think it's a new thing and answer to all problems.

[@rdr2dgrv99]

I have a genius plan for the upcoming 4 years. I'M NOT BUYING ANYTHING NEW. Thrift store, yard sale, Platos Closet, Facebook Market place, and everywhere there's people trading used, like new items if I want anything.

[@baneofbanes]

Thing is even the used market will rise in prices because you won’t be the only one.

[@dannyarchuleta7326]

Keep it simple, awesome explanation.

[@dovel1000]

Great explanation!

[@denver4540]

Basic economu 101. Yet our president doesn't know nor care. Unbelievable

[@ariel393939]

To bad common sense is not as popular as Stupidity. Voting for your own destruction, amazing.

[@Lucy-gx9we]

Everyday I wake up and say; WTF

[@bspoon5041]

One company in Pennsylvania had a meeting with employees and they were told no Christmas bonuses this year as we need to stock up on parts so we can continue to do business with the incoming tariffs. He then had to explain what a tariffs to his employees. Apparently most voted for you know who and are now not getting their Christmas bonuses.

[@susandavey2361]

For the next 4 years at least, some might be out of a job this time next year😢

[@peterg9659]

karma.

[@francescapowell1538]

Serves em right I guess.

[@TazPessle]

On the plus side, all this tariff money can fund a decent social welfare system... Wait... He's gonna do what!? Tax cut to the people that least need it after making everything more expensive for everyone? Why would he do that? Who voted for this guy!?

[@paulaoh5306]

Tariffs get passed on to the consumer and, in some cases, eliminate products from the marketplace altogether. They might help certain kinds of businesses (and help pay for billionaire tax cuts), and that's why Trump favors them, but they won't help the consumer.

[@GeddyRC]

Jesus Christ I knew all of this when I was in middle school. The fact that tens of millions of adults INCLUDING TRUMP HIMSELF has no idea how this works is INFURIATING.

[@spqdallas]

When I was young, 50+ years ago, I was told that tariffs were used to raise and equalize the price of imports to make fair competition with domestic goods. The problem with tariffs now, is there are very few domestic goods. Anyone have a US-made TV?

[@ericnelson9100]

Why was this not being broadcast everywhere for at least 1 month prior to the election?

[@yeahyeaheddie]

European nations greatly disfavored the Hawley Smoot Tariff. The Hawley Smoot Tariff prompted these countries to impose their own tariffs on foreign goods, especially those from the United States. These retaliation tariffs crippled international trade and worsened conditions during the Great Depression.

[@Lucy-gx9we]

We are definitely headed to the next GREAT DEPRESSION 2.0!! with the fascist in office!

[@phillipayoung10]

100% correct from Dean. And trump just f'd this up!!

[@renel7303]

Oh, he hasn't even begun the real f'uppery.

[@Thomas-fj8ol]

What does president felon not f@ck up???

[@sakitoby1581]

Trump said he wants to impose tariffs of MORE than 60%. That came directly out of his mouth in a tv interview I saw recently. Imagine what a new car could end up costing. New appliances. Building materials. It boggles the mind. Tariffs are supposed to be strategic, used deliberately & specifically for a particular reason. Not as a wide blanket financial policy. Not as an end run method to subsidize tax cuts for wealthy Americans. Smh

[@goodymob9638]

People seem to remember what they want to remember. Like how his tarriffs hurt famers, and he had to bail them out with $28 BILLION.

[@LilGamingYes]

Tariffs WILL backfire. America might get a solid first year, that's when other countries will start retaliating. I remember during Trump's first Presidency when he put high tariffs on Canadian wood and steel (which marked the start of the "record high costs" trend for housing, which is not surprising considering the US imports more wood (softwood to be more precise) from Canada than they produce themselves). Canada answered by putting tariffs on various US products and Trump threw a fit. The world doesn't live to serve America, other countries can and will retaliate, you need to make some concessions to get some back on other things but if you punish everyone then everyone will punish you too. That's a concept he can not grasp.

[@kristenjoyce2180]

And then of course the higher prices will cause the actual sales tax on that item to be higher too.

[@Kimm.J]

Tariffs add to the cost of things... of course a money addition will ADD money. That's how math works. Convict45 can't alter that with lies 👌

[@eveve318]

No more shopping in the next 4 years! 😢

[@corrosivedevourer]

Or start buying what you need now before prices go up.

[@monicashelton3603]

Thank you for this simple explanation

[@johnp.3581]

A very clear, concise, precise explanation of tariffs and how it will affect us. I applaud you, sir! Thank you!

[@johnclark1146]

We’re trusting our economy on a guy who went bankrupt on a casino. He is not a smart businessman, he’s a grifter and a liar.

[@jennifercromwell1634]

So, we pay more only to give it to him…

[@paulaoh5306]

Him and Elon Musk

[@Thomas-fj8ol]

@@paulaoh5306 and their other rich friends.....

[@sr.6816]

Not to mention if there would be less importa, there would be less competition for US companies and they would raise their prices!

[@mechavelli]

Nobody seems to understand this at all and it's so frustrating. You forgot to mention... if a company is financing, they are now borrowing more money and now need to borrow more to do the same amount of business so that also gets passed on.

[@Gojira54000]

Cant wait to see the trumpets cry about how everything is expensive.

[@peterg9659]

no they don't. they will blame Biden for their problems still.

[@baldthanos4614]

there already doing thet with the PS5 Pro

[@Gojira54000]

@baldthanos4614 yup well ill be good though im a business owner and i make a decent salary but i know they cant say the same lol you get what you vote for.

[@Satjr35031]

No company would only put a 20% markup.

[@InStevenWeTrust]

Costco and Walmart has entered the room.

[@Satjr35031]

@ They make more than that.

[@InStevenWeTrust]

@@Satjr35031 Certainly not Costco. Their business aims to keep markups on all products at 15% or less. They get away with it because their profits primarily come from fees. And not Walmart on the vast majority of their essential goods. Several companies are known for keeping their markups relatively low (usually around 20% or less): BJs, Dollar General and Dollar Tree, Aldi, Trader Joe's and even Amazon on certain categories because similar to Costco, it is offset w/ membership fees (Amazon Prime). Yes, some product categories are known for higher markups like luxury goods, cosmetics, supplements, alcohol and branded apparel. But many products don't. Your local grocery store will often sell staples at 2-3% markup (loss leaders). Your local gas station has hilariously bad margins on fuel. Your local dealership makes 5-10% on average on new cars and tries to make it up through add-ons, financing and service plans. Study more business models. Or work in procurement for a big company.

[@fionarobertson8841]

People think Trump wants manufacturing back here. In theory thats a great idea, but nobody does that because they can produce overseas for quarter of the cost.

[@wunziesmum]

Our manufacturers rely on imported components the cost of which will rise because of the tariffs.

[@baldthanos4614]

​@@wunziesmum Exactly

[@cynthiaflanagan3928]

Aren't a lot of companies going to fail because of the tariffs?

[@lindascott9731]

A company (factory) in upstate Pennsylvania ( They voted for Trump) by the way... called a meeting this morning to inform their employees that there won't be a Christmas bonus this year because they had to order "lots" of extra parts for inventory before January because of the tariffs......they voted for him....

[@MKIVRoller]

I remember inflation started when trumps first tariffs went into effect before covid and it's been downhill from there, we haven't recovered at all.

[@stevekluesner4430]

Companies buying those t-shirts that he was talking about aren't going to continue to market them at a $2.00 markup (what used to be 20%) for long $2.40 markup is more inline with their original profit margine ☹️☹️🤨🤨 AND if tarrifs on all imports is driving up their operating costs ; just what sort of "adjustment" do you think that they are going to be making ¿¿¿¿

[@abjectt5440]

Most companies are rubbing their hands together in glee.

[@Lee-70ish]

No it will feed inflation and unemployment. Wait see . Tariffs will be the druving force for both

[@Thomas-fj8ol]

president felons plans WILL cause a recession within a year.....PREPARE for it,you may lose your job

[@LukeDaDrifter-lj2nh]

Republicans and the Economy don't mix unless your rich 😕

[@adrianschilling3955]

I love how you try to explian economics on easy examples, i think it's the only way...to educate people on those topics, so they can understand that they got played. Good job. Greetings from Switzerland

[@donk026]

Best explanation. Thank You for your knowledge 🤟🏼

[@arsimckhoi]

And to keep shareholders happy they will *drumroll please* lay off workers and move to another country!