The Truth About Tariffs

[@iammrbeat]

Video begins to get real at 16:50 Please consider supporting the sponsor of this video. Sponsors, Patreon supporters and channel members help keep this channel going when KZbin demonetizes my videos. I cannot thank them enough. This video's sponsor is DeleteMe? Why yes it is. 🔒Remove your personal information from the web at joindeleteme.com/MRBEAT and use code MRBEAT for 20% off 🙌 DeleteMe international Plans: international.joindeleteme.com

[@MemeSource.]

Real

[@jaguarmemez]

Damn your 43 and Drew is 32, wow time does fly

[@jaguarmemez]

You should make a video about Luigi and how the American health care system has lead to this moment of backlash and how this isn’t the solution but instead how we can solve this through legislation

[@mrcat5508]

@@jaguarmemezyeah I agree

[@LucasForde]

This video proves the president can have the power to make economy bad. If Herbert Hoover vetoed smoot-hawley Great Depression wouldn’t been so bad. People forget that congress doesn’t override presidents veto often( except Andrew Johnson).

[@johnchessant3012]

Regardless of how you feel about tariffs, it sucks that lots of people searched "what are tariffs" only after the election. Like seriously, if you can't be bothered to take 30 minutes to learn about the defining issues of the election, then please do everyone (including you) a favor and don't vote. But at the same time, I have to imagine if our campaigns and news media were less spectacle-driven (and if the average person weren't already so stressed from trying to stay financially afloat), this would be less of an issue.

[@iammrbeat]

Especially since Trump wouldn't shut up about raising tariffs. His supporters often just blindly support his ideas without questioning him.

[@jackmccombie102]

@@iammrbeatwhat's that saying, if you repeat a lie enough times, people will believe it to be true

[@tylerwhaley4872]

@@iammrbeat acting as if supporters of other candidates don't also blindly support ideas without question

[@scpatl4now]

Well, they are about to get the government they voted for. I hope they like it. Of course if they don't, they will blame someone else.

[@GunterBummer]

​@@scpatl4now except his fans are going to blame everyone except their dear donny

[@JSythe]

This video will be watched alot through the next 4 years.

[@Tcrror]

@@JSythe And not understood by the people that need to understand it.

[@iammrbeat]

By golly I hope so

[@JayYoung-ro3vu]

Hopefully so. Unfortunately, a certain percentage of MAGARepublicans will continue to "guzzle the 'kool-aid'." The rest will see that they were duped and begin researching to hear the other side's voices.

[@jacobquackenbush2981]

@@Tcrrorsad, They will just call Mr. Beat a radical left lunatic with pretty much no basis

[@slowmoe1686]

Won't it be longer than that? This issue might not be going away, the video might still be watched 20 years from now.

[@CallMeAWeeb]

Mr Beat low-key being one of the best channels once again by just telling things how it is with a sense of humor

[@iammrbeat]

I'm glad you get my sense of humor. lol

[@hyperviolet1717]

His sense of humour is rather unique but I love it

[@eliplayz22]

Not just low-key, he IS one of the best channels

[@eliplayz22]

@@hyperviolet1717Yeah, I love his humor

[@oliparkhouse]

​@@eliplayz22I'm gonna be that guy. Saying "lowkey" doesn't detract from a compliment. In this case it means Mr Beat is one of the best and that's undervalued, and/or Mr Beat is humble rather than braggy. The compliment remains, even strengthened by the 'lowkey' prefix

[@RomWatt]

Tariffs, in theory, are meant to protect local/national manufacturers, but in practice, it just gives them an excuse to make their products more expensive.

[@mattdeluccia153]

Your theory falls completely flat if the cost increase is so much that the consumers will not pay. Nobody is going to pay a 200% price increase on a foreign vehicle made in Mexico. They will simply buy a car made domestically. Because of this foreign auto manufactures will start building their manufacturing plants in the USA because they need the American consumer base to sell to.

[@LeDoctorBones]

@@mattdeluccia153 And then they will sell those domestically manufactured cars at 190% the initial cost because they have no foreign competition.

[@DeosPraetorian]

​ They will still increase the price to just below The most consumers are willing to pay@@mattdeluccia153

[@mattdeluccia153]

@@LeDoctorBones That’s a very fair critique, but I doubt domestic producers would do that. Like I said before, these companies want to sell as much product as possible. Every car they don’t sell is a sunk cost that depreciates in value over time. If people can’t afford the product, the maker won’t be able to sell it. It’s not like people will not be able to get a car since there are millions of used cars for sale throughout the country. I’m not an economist but my family has been in the auto industry for generations and I have a decent understanding of how that business works.

[@TheWipeout32]

@@mattdeluccia153 Wait, you doubt that companies, who are driven by a desire for the biggest profit margins possible, won't jack their prices up because they can? They did it and blamed it on inflation already. Kroger admitted to it. And if one was doing it, more were doing it. And you don't have a good idea how it works, since all the electronics and wiring and steel and plastics and spark plugs and components, including the rare earth elemental and rare earth minerals necessary for computers and electronics that are not mined here in the U.S. and cannot be mined because they do not exist, need to be made in the United States, as well. So, it isn't just one company jacking up the prices. It's *tens, if not hundreds, of them*. And you, my friend, get stuck with the final cost. China already slapped a ban on imporing rare earths to the United States, and Trump doesn't care about allies, so I hope you're ready to watch computer prices fucking skyrocket. Now, add to that yet another cost in the form of tariffs. When you people trigger another depression, on top of a Measels outbreak or Avian flu pandemic, since adults remember how well he handled the last one, you'll have nobody blame for it but yourselves.

[@DXnationmember]

The most common point that tariff defenders use is that USA products are going to be cheaper and sell more. In reality, American companies would raise their prices to match the competition and make more money at the same time.

[@iammrbeat]

USA products are going to remain expensive as long as American incomes are decent

[@sirllamaiii9708]

I dont think anyone's ever made that argument, at least ive never heard it. I think the general consensus among tariff people is that goods will cost more, but itll make more higher paying jobs, so the effective cost will be lowered or about the same if that makes sense.

[@use10483]

not true, undercutting the market is how a company grows relative to its competition. the problem with tariffs is that artificially changing prices decreases efficiency, the problem with many forms of taxation

[@qjames0077]

THANK YOU So many folks don't realize how this is going to affect the average American

[@zoanth4]

Slave labor both across the pond and here is wrong. We should all be willing to pay more so that our workers can earn more.

[@iammrbeat]

Indeed :(

[@AC-vc5qp]

@@zoanth4yes but the raise in prices would be insane, especially if we want to make stuff in the us

[@qjames0077]

@@zoanth4 I'm familiar with the Uyghur plight, but not all cheap products are made using forced labor. Tarrifs aren't the only plausible solution

[@zoanth4]

@AC-vc5qp prices are currently skyrocketing due to made in China models, you want to continue that model?

[@juniemcgraw8860]

Would love a video on what high-paying jobs could replace manufacturing because I can’t think any off top of my head.

[@iammrbeat]

Heck yeah. I will have to make this video.

[@frenzalrhomb6919]

​@@iammrbeat I know, I know, ditch digging. Everyone's going to eventually need a "ditch" of one kind or another (💀) so ditch digging could be "a new and unexpected growth sector"

[@mrhitech6742]

UBI recipient

[@ruedelta]

Automation engineer. Don't learn how to do a tool's job, learn how to use and maintain tools to do jobs.

[@mattdeluccia153]

@@mrhitech6742I hope not, that sounds like a miserable way to live having to wait for your allowance from Daddy government

[@tylerhackner9731]

Tariffs are regressive taxation

[@iammrbeat]

Thank you for pointing this out, Tyler! They hurt poor people and small businesses the most.

[@UGMD]

It’s pretty pessimistic, but I think this is absolutely the reason trump wants them. It’s an easy way to hide making the tax bracket more regressive while further reducing taxes on the wealthy

[@CuddlesTbear99999]

@@iammrbeat That, and they have typically transferred wealth to the elite at a faster rate too. Although I think you actually did point that out without saying it that way. Thanks for all the great videos.

[@Fjaloeat1]

@@iammrbeat They're are going to cut SNAP, Medicaid, and TANF. All while cutting the number of agriculture workers and increasing tariffs. Poor people are about to have a really rough 4 years.

[@pranshukrishna5105]

@@iammrbeat liberal propaganda. Washington state has high sales tax on goods, but dosen't tax inome, it is doing well

[@matthewhedrichjr.5445]

No tariffs without representations during normal times

[@iammrbeat]

That's the thing. We are in normal times, and yet politicians are wanting to raise tariffs. It just doesn't make sense.

[@sketchygetchey8299]

@@iammrbeatthat’s because some politicians make no sense at all. They want to create an invisible problem/enemy or make a mountain out of a mole hill just to win votes.

[@John.Smith98765]

@@iammrbeat The economy is terrible and the world is on fire, we are not in normal times

[@2010hyundaielantra]

tariffs, taxes, sending aid to other countries and war should be put on national votes

[@blakekennemer1166]

@@John.Smith98765 The economy is actually the best it’s ever been, it’s just that it’s all going to the billionaire class. But don’t worry, I’m sure all the billionaires in the incoming cabinet won’t act in their own self interest like they have been their whole lives

[@Dawg476]

This is why anyone who wants to be the leader should be forced to do tests on their knowledge before running.

[@kylemcmullan2831]

An interesting point made by the Wall Street Journal on their recent tariff video is how domestic industries also increase prices after a tariff is introduced. In their example, they looked at the tariffs placed on washing machines. As expected, the price on foreign washing machines increased, but also, the price on domestic washing machines increased about the same amount as well. You would expect that domestic companies might instead keep their price the same and gain market share, but that would mean more units sold, which means they need to grow their manufacturing, which is a very long and expensive process. On the other hand, increasing prices can be done fast and gives more profit immediately, so tariffs cause domestic manufacturers to increase prices as well. As another effect, even though dryers were not subject to tariffs, their prices increased the same amount also, this is because consumers are used to paying a similar amount for a washer as a dryer, so it was once again easy money. This is why tariffs are said by economists to be an inefficient way of collecting tax, because the consumer is paying more for washers and dryers manufactured anywhere, but the US government is only collecting money on foreign-made washing machine tariffs.

[@armandoventura9043]

And that's why Trump will put a tariff on electric cars, that way Musk sells the Teslas he produces in the United States at a higher price and also gets a tax cut Anyone with 3 neurons and enough information can deduce it

[@havehope646]

Interesting timing for this video Mr.Beat 👀

[@iammrbeat]

I got soo many requests to make it. I gave into peer pressure. lol

[@havehope646]

@iammrbeat haha lol love you man

[@GavinkyleXD]

I knew Trump was a big tariff guy, but the fact that he just said that the favorite word in the English dictionary is tariff is the funniest thing.

[@_Dibbler_]

And he knows words, he knows all the best words

[@tomlxyz]

That statement sums it up pretty well. No one who has in depth understanding about a topic X will just say that X is their favorite word. Most likely, if there's a favorite word in the first place, it'll be some obscure term. It's all the same again as the ineffectiveness of building a wall to solve immigration

[@lukaszwodzynskiHNB]

it really isn't funny, this moron will (again) be the most important person in the world soon

[@hayteren]

He's probably the most hilarious president we've had

[@elliott614]

He and his donors will be exempted of course

[@FlowMichael]

I think it's important to note that tarrifs are an inherently regressive form of taxation - rich people do benefit from them replacing income tax, but not everyone else.

[@zoanth4]

Our nation did very well before the income tax.

[@iammrbeat]

Yep! Tariffs hurt poor people and small businesses the most.

[@AC-vc5qp]

@@zoanth4 yea but that was an incredibly long time ago, you can’t compare that to today

[@FlowMichael]

​@zoanth4 ok? Income tax isn't being totally replaced, just reduced for wealthy people and tarrifs are being used to account for the missing revenue. Tax burden isn't going down, it's just being shifted towards middle class and poor people.

[@zoanth4]

@AC-vc5qp well the mass welfare state and foreign aid industrial complex scam would go away. I'm ok with this

[@onjulraz754]

Fellow teacher here! My students have been asking about tariffs. Your video will make a great review!

[@dylanjones7485]

The world is better when this guy uploads

[@iammrbeat]

Aww. Thank you :)

[@dylanjones7485]

no problem my favourite should be senator

[@Xsetsu]

The price of eggs during the Great Depression went form $0.03 to $0.10 a dozen because of the tariffs. Now just imagine a price increase like that today.

[@nestorv7627]

I can. I live in Miami. 60 eggs were about $7 in Walmart in 2021. The average price of that same box of eggs I buy biweekly is almost $20 right now.

[@Xsetsu]

@@nestorv7627 That's insane. The problem is that is a lot more than inflation. It is greed.

[@beccangavin]

@@nestorv7627Are you buying gold plated eggs? I buy the big cartons of eggs for $4. I can get them from organic local farmers for twice that if I want fancy eggs...Just looked up the inflation rate in Florida and apparently you guys are above the national average. Sorry.

[@grizzlytastov2945]

Looks like my wife's backyard chicken cook that she bought for me to take care of might end up paying off!

[@i_like_beer-o2f]

@@nestorv7627 avian flu outbreak caused that. You can stop buying eggs until it subsides if you want to save money

[@thegreatteaman]

I believe Tariffs are a necessary and important tool for governments to use, but the key is, like all other things in economics, MODERATION. They have to be used very carefully, and only in specific circumstances. They have their use, but they can be dangerous when mismanaged.

[@millabasset1710]

Why punish people for buying a better product? If a foreign country makes better cars and you tax the consumer, that does nobody any good.

[@zoanth4]

​@@millabasset1710cuz buying things off of slave states is wrong? Plus it drives down our wages

[@iammrbeat]

They should RARELY be used.

[@thegreatteaman]

@@millabasset1710 oh I agree. At the end of the day, if people want to buy a better product from a foreign business then they should be able to without being punished with increased prices. Tariffs are something that should be used sparingly and with moderation only in specific circumstances.

[@binbows2258]

@@millabasset1710 The only real use case that I see for tariffs is in preservation of the military industrial complex. For example, limiting car importation not due to some kind of market fear, but because you want to preserve your motor industry for potential use during wartime. Same with steel or electronics, wanting to avoid become too dependent on foreigners so that during national emergencies you can still produce domestically. If you don't do this somewhat, you can end up like Russia with very poor domestic production causing an overreliance on imports and reducing military capacity.

[@sarahgk6870]

A week or so before the election I saw a clip of trump on Fox News. This isn’t a perfect quote but he said something like, “Times are tough for Americans. Americans have never had it so bad. We need to go back to the way it was in the 1890s. That was the best time and it hasn’t been that good since.“ 🤦‍♀️ What does he think was so good about the 1890s?

[@Rivecha]

1890s was the Gilded Age, marked by tacky excess, robber barons, and corrupt politicians. Of course Trump would love the 1890s, he'd fit right in with that time.

[@kennethfisher7013]

So we finally know when America was great.

[@TheWipeout32]

I suspect he meant 1990s, but man, that's the mother of Freudian slips right there.

[@wailin4192]

@@TheWipeout32 he probably was referring to the 1890s since he’s spoken a lot about his admiration of McKinley.

[@TheWipeout32]

@@wailin4192 On one level, that's surprising he knows about McKinley at all. On the other level, that he'd admire a president who instituted a genocidal policy in the Philippines doesn't surprise me. On the third hand, does this mean we get someone who admires TR and wants to be TR after him? Man, I hope so. We're in desperate need of some progressivism in this country, and not the infantile stuff you see on Twitter and Tumblr. Real progressivism; pro-union, pro-labor, pro-living wage, pro-UBI, pro-strong Kennedy-style Square Deal/New Deal progressivism.

[@weasel3299]

I feel like something else that people overlook is that if international products are higher in price, domestic producers (if they hypothetically make everything) will meet in the middle and prices will be higher as a result. Profit is the bottom line and this would allow those companies more profit, either way it’s a lose lose

[@Yuletide_3535]

@@weasel3299 I was waiting to see if anyone had pointed this out. This is one of the most important effects tariffs have on prices.

[@dahalofreeek]

They tariffed the washing machines, and this increased the price of not just locally made washing machines, but also spilled over into other household appliances that weren't directly targeted by tariffs.

[@duncanhw]

that's exactly what the pro-tariff people say, though. The prices go up, the profits go up, more companies join the market to taste the profits, profits and prices go down again until you're left with a competitive market. Now when you get rid of the tariff, you have a strong, cheap, functioning industry. I'm very much against tariffs but your argument here against is rather an argument for.

[@theseyi]

@@duncanhw that’s just not what happens. See, if their competitors prices went up, wouldn’t their prices stay down to begin with? Yet thanks to easy profits, they just raise prices instead of trying to sell more units. If other companies joined the industry because of high profits and managed to scale up to be worthy competitors, reality shows that they often keep prices high. Why? Because they joined the market specifically because profits are so high, so why would they lower their prices and miss out on high profits? Reality has shown repeatedly that everyone raises prices to match with tariffs, it does NOT go back down again.

[@VeronicaM-pf8oo]

This was likely a feature, not a bug, to whomever whispered this idea into trump's ear.

[@Crunch104]

Don't forget the part how North American manufacturing business owners simply moved their businesses to Mexico or overseas, or their purchases for their business. They then just pocketed the profit from the cheaper labour. Short term gain with no consideration for long terms effects on employment in NA. Not sustainable.

[@SDZ675]

Tarriffs isn't the answer but something needed to be done about the decades of manufacturing outsourced to 3rd world countries to exploit child/cheap labor. It's an economic, humanitarian, and security issue especially since our biggest trade partner now is a one party state that was just recently aggressively posturing on taking nearby territories.

[@iammrbeat]

I agree!

[@to101md]

I big issue IMO is that Tariffs are a blanket punishment. I don't think people would be opposed to a morality-tax wherein if the producer cannot prove that they pay their workers/don't use children/caged animals (etc.) they are taxed to offset the end-consumer price difference that would be lower than products that weren't made with morally dubious methods.

[@SamD.GOAT0326]

I would support that 100% These exploitative companies couldn't care less until it effects their profits. But instead the big T decided on blanket tariffs on everything 😒​@to101md

[@mintcake2668]

Here's the thing: for developing countries, it's not a humanitarian issue. Child labor is bad, child starvation is even worse, and millions of children in India are suffering from malnutrition today. For them, working in factory is the least bad option.

[@DJPleasureSeekingMissle]

Capitalisms success is dependent on the exploitation and suffering of others. Until we can acknowledge this fact, the conversation goes nowhere.

[@kotm2021]

Even as someone who thinks tariffs can be beneficial in some instances, I fully acknowledge the economic damage it can cause as well.

[@zoanth4]

Gotta think in the long term bro. Everything electronic lasts 5 years and wages suck. I'll gladly pay more to reverse this.

[@iammrbeat]

Because you actually study economics, and good for you!

[@VeronicaM-pf8oo]

@@zoanth4 You wanna pick up the tab for my increased costs as well?

[@brookelynshaw9738]

Economics professor here. Thank you for your service. Well said.

[@justindie7543]

To anyone still confused why tariffs are bad, imagine it occurring at a small scale and at an extreme. What if the mayor of your town put a 20000% tax on all goods produced outside of your town?

[@Tchaikfan]

This is a great analogy

[@2010hyundaielantra]

Again, Not everything is black and white. Some tariffs should exist, like on goods Being attacked by unfair trade practices (Like trade dumping) or goods that would cause severe economic damage were they not available (Like Microchips, if China invades Taiwan, they can't make those anymore), but Blanket tariffs, like the ones Trump is proposing, or tariffs on goods that aren't under attack (Like, say, the auto industry) are ultimately harmful. I personally agree that Trump's tariffs will do more harm than good, but not all tariffs are bad

[@jamescindric5056]

What I am missing here is how the negative effects of tariffs are any different to the negative effects of goods taxes but also they have some upsides and can be more targeted. Goods taxes are way more inflationary than tariffs and don't support local production. They also kill small businesses which have to buy from other businesses, whereas businesses which can control the while chain don't have to pay on each stage.

[@betohax]

Basically Corporate taxes

[@perguto]

To anyone still confused why laws are bad, imagine it occurring at a small scale and at an extreme. What if a boy stole an apple and the mayor of your town put him in jail for 200000 years????

[@Autodidactyl]

Thank you, Mr. Beat! Your videos are so educational and entertaining. :)

[@iammrbeat]

Thank YOU

[@Ava02xw]

These next 4 years (hopefully 2 if the senate and/or house flip, stopping any horrible policies) will be the biggest “I told you so” in American history😂

[@mangalhao_0]

this was a top 10 funniest Mr Beat endings, i laughed so hard man

[@tiwtid6055]

Hey Matt! When will your 2024 Presidential Election video be up? Love the channel.

[@iammrbeat]

In February. And thank you so much!

[@Moonwalker_2007]

OMG thank you for making this video!!!

[@iammrbeat]

Well thanks for watching!

[@Captain_Polaris]

I started watching this channel when I was in APUSH, and tariffs were never explained that well to me in the class. I knew forever that bro HATED tariffs, unfortunately we’re all finding out about them far too late

[@RanDom-if2ee]

Thank you Mr. Beat!!!

[@iammrbeat]

Well thank YOU for watching and being curious. :)

[@robokaos69]

Thank you for trying to explain these things to people. It is painful seeing the direction my country is headed culturally, and I only hope that people like you spreading good, and valuable information, can help to keep us from regressing.

[@chronogamer7901]

People who voted for Trump over high prices and cost of living are in for a bad surprise in a couple of months. None of his proposed policies are going to lower grocer costs or rent prices, or the cost of anything.

[@joekeefe1811]

Yea... You said that in 2017 also... Keep repeating mainstream media/Mr. Beat talking points

[@neilchace1858]

Half of America's voting electorate needed to see this video two months ago...

[@bjorkyorke]

I’m back as mr Beat’s no1 fan. I gotta up my game again, embarrassed to say.

[@iammrbeat]

I love the pfp

[@bjorkyorke]

@ yeah me too

[@Omnicarr]

Love your content, I look forward to every video!

[@iammrbeat]

Thanks :)

[@wowcorny]

Tariffs only work if it's specific and targeted. A blanket tariff on the other hand is just mind boggingly stupid.

[@scottn322]

Greed is going to be the downfall of this country. Or it won't, but it sure feels like it will.

[@jordanl2131]

i’ve talked to a trump supporter who said she voted against kamala because she didn’t run on policy (which i don’t even disagree with) but then when i ask her what she thinks a tariff is she tells me it’s when china pays us for some reason. tariffs were one of the biggest “policies” trump ran on but i’m supposed to believe that these people voted based on policy 😂

[@iammrbeat]

That is just so depressing

[@its.that-time]

Trump was literally the one who had "concepts of a plan".We did a starter for history where you would look at Trump v Harris policies next to each other and it was even worse than I thought. It just said "Trump didn't say what he'll do about this" basically for most policies. (And he said climate change is a "hoax") The media was trying to play both sides and it made it seem like this wasn't the case.

[@chronogamer7901]

We have probably the least informed electorate in the democratic world. It's sad that our elections really are purely vibes based. People only react to what they are feeling in the moment, and our society is losing the ability to think critically about proposed policies. This needs to change or things won't get any better.

[@its.that-time]

@chronogamer7901 getting big money out of the system is step one. According to Bernie Sanders, he knows lots of democrats that couldn't vote against sending money to Israel because Aipac would stop giving them money. A big part of the reason why many reasonable people you and I know voted for Trump is because Trump could afford more propaganda. From an outside view, most people can see voting for Trump is insanity (also Harris actually was a great candidate imo)

[@somerandomguy4919]

Reading that person who has no idea how tarrifs work is a good example when the republican party shut down the dept of education leading to idiocracy

[@tomray4140]

Mr Beat you never cease to impress. I’m fine with tariffs in some cases. I want the US to export green energy sources and some oil and gas to the rest of the world with materials mostly bought and manufactured with in the us. But then those companies need tax advantages for creating the jobs *here*. What I don’t like are blanket tariffs on all imports overseas. That has seemed to overinflate our economy several times in our whole history

[@anildadhich4654]

My girlfriend got me a Eisenhower, Nixon 1952 hoodie!!! It also says for America! I was so happy to hear that he was your second favorite President and I actually used some of your videos to write a short essay about him on one of my exams!! Love you

[@iammrbeat]

That's amazing! I need to get me one of those, especially since I appreciate Nixon more today than I used to

[@bananenmusli2769]

Maybe if American companies want to sell their products, they should consider just making better products. I hear Trump complaining that Europeans don't buy American cars. And the reason for that is that American cars suck and aren't at all what Europeans want or need.

[@DJPleasureSeekingMissle]

That’s the cold hard truth that Americans just don’t want to accept. Especially the MAGA crowd…

[@conorfromouterspace]

eh, it's because they're stupidly big

[@sydguitar99]

Aren't tariffs a form of big government overreach? I thought the right was against govt intervention in economics

[@samsam21amb]

As an Australian, who also loves economics and is studying it at school. US tariffs will also affect other countries too. Since Australia is China’s largest supplier of iron ore the decreased demand from the US (because higher prices and people choosing to buy locally) will mean China will demand less iron from us, therefore, since most of economy is based of exporting iron and other commodities to China we will be negatively impacted. And American tariffs could hurt its biggest Asia-Pacific ally which is important to the US because of our relationship & proximity with China. (Yk, in case of war)

[@luisluzania9713]

As a fellow econ student to another, let me correct one thing. China will not demand less iron from you, they will simply demand a lower price, using the decreased demand from the competitor as a bargaining chip. Australia will find it has to lower prices for China for the market to clear iron.

[@ImSomethingSpecial]

My, extremely broke, household has pretty much already entered what I'll call a small-scale famine in the past few days due to how high the cost of living is now. Never thought in my life I'd have to go a few days only living off of bread and hotdogs but that's the reality. Tariffs will make this so much worse.

[@therealjjwatt]

and yet i bet you still supported biden

[@ImSomethingSpecial]

@@therealjjwatt Love the assumption when I voted for neither candidate. Sorry to tell you but Trump is not going to help or save our economy, his tariffs and blatant pro-corporatism stances will make things significantly worse.

[@therealjjwatt]

@@ImSomethingSpecial you do know biden is incharge right now and you said your struggling to buy bread? keep blaming trump tho

[@ImSomethingSpecial]

@@therealjjwatt I don't recall once saying things were good under Biden. I seem to recall actually saying things will not get better under Trump and are instead likely to get even worse.

[@gugurupurasudaikirai7620]

@@therealjjwatt If he was smart he would have supported Bernie, don't worry, you'll really feel the pain too soon enough when Trumpflation really hits

[@KelsomaticPDX]

I like when Mr. Beat gets mad at me for something like not knowing he’s an American, when I did know. The adversarial energy keeps me on my toes and in prime learning form.

[@ash_11117]

Everything’s a trade off. More tariffs mean more government revenue, which means less taxes, but also higher prices.

[@iammrbeat]

Tariffs disproportionately hurt poor people and small businesses.

[@talideon]

Tariffs _are_ a tax, just a hidden one. Just because you're not the one directly paying the tariff doesn't mean you don't ultimately pay it.

[@sammcottone5927]

This is how exactly I’ve been explaining this issue to people. Thanks for the ammo!

[@Colton-el4mp]

As a Canadian: why? We've done literally nothing, and I have zero clue where Trump's "$100 billion in subsidies" is coming from. He seems to just be taking the trade deficit and doubling it. And if you wanna talk about subsidues, let's talk about how the country that puts itself in debt propping up every industry is mad that we do a little protectionism.

[@iammrbeat]

He just wants to transfer more wealth to the elites.

[@Colton-el4mp]

@iammrbeat My fear is many Americans will just nod their head and go along with Trump's reasoning. Using the reality that there likely is large amount of wasteful spending by the US government to rationalize "yeah I bet we probably send them money" with zero additional thought. Maybe they'll realize the issue should Trump and his administration actually decide to kneecap 40% (Canada, Mexico, China) of all US trade in one fell swoop.

[@Colton-el4mp]

@iammrbeat My fear is many Americans will just nod their head and go along with Trump's reasoning. Using the reality that there likely is large amount of wasteful spending by the US government to rationalize "yeah I bet we probably send them money" with zero additional thought. Maybe they'll realize the issue should Trump and his administration actually decide to kneecap 40% (Canada, Mexico, China) of all US trade in one fell swoop.

[@Colton-el4mp]

​@@iammrbeat My fear is many Americans will just nod their heads and go along with Trump's reasoning. Using the reality that there likely is large amount of wasteful spending by the US government to rationalize "yeah I bet we probably send them money" with zero additional thought. Maybe they'll realize the issue should Trump and his administration actually decide to kneecap 40% (Canada, Mexico, China) of all US trade in one fell swoop.

[@Colton-el4mp]

​@@iammrbeat My fear is many Americans will just nod their head and go along with Trump's reasoning. Using the reality that there likely is large amount of wasteful spending by the US government to rationalize "yeah I bet we probably send them money" with zero additional thought. Maybe they'll realize the issue should Trump and his administration actually decide to kneecap 40% (Canada, Mexico, China) of all US trade in one fell swoop. All for manfacturing plants and mines that won't hire nearly as many as they used to and won't be open until years past Trump is out of office.

[@GHfan4life]

Canadian here worried about the potential damage tariffs will have on us here. I’ve been bingeing your videos this morning, awesome, informative content and very funny!

[@j2simpso]

I'ma little disappointed Mr. Beat in how you describe Pat Buchanan. Yes he is a protectionist, but he's also one of the most racist people in politics, making Trump look like a choir boy. And that needs to be acknowledged because it explains the protectionism. Xenophobia generally tends to explain much of these policies not sound or rational economic arguments.

[@i24mUnD1SPUT3D]

That victim card working overtime for you huh?

[@j2simpso]

@ so you’re saying the Holocaust didn’t happen and that black people are less of a person than us whites? These are all thoughts held by Buchanan and again explains the xenophobia held by him and consequently the tariffs. He can mention manufacturing jobs going abroad but the fact of the matter is it’s all racially motivated.

[@Randys_Channel]

Thank you, Mr. Beat. More people need to watch your videos.

[@S0nyToprano]

Tariffs are great! Until you realize companies make us cover the increased costs and even better! Other countries can just put tariffs on you so really it’s a lose lose lose maybe a very occasional win type of thing. All that to say, not worth it.

[@zoanth4]

Mega corporation make even more money employing foreign slaves to make things. Tarrifs are anti corporation and pro worker. But you progressicrs are all brainwashed.

[@iammrbeat]

Exactly

[@jonvlahiotis]

More people need to see this video. Thank you for making this!

[@sugar858]

Thanks for all you do truly appreciate your content!

[@iammrbeat]

THANK YOU SUGAR

[@ethanteige]

Banger video, definitely should be seen more in the next few months and years

[@thegreatmindgorb8948]

As a multi-billion dollar company, i think tariffs are based, actually

[@StunningMcC]

Mike from Jersey here. No problem, Mr. Beat. Keep it up

[@iammrbeat]

No way! It's MIKE!

[@chelseyislol74]

Let’s just hope presidents act as they usually do, not keeping their campaign promises. 🤞

[@chronogamer7901]

Trump keeps doubling down on tariff threats since the election, which makes me not feel optimistic about that. He is also backtracking on his promise to lower grocery prices.

[@chelseyislol74]

@ I’m not optimistic either. I don’t know how people fell for lowering grocery prices. I mean, tariffs are going to inflate grocery prices even more, but you can’t tell that crowd anything.

[@happyfriendshippal]

@@chelseyislol74don’t worry. Deporting the underpaid immigrants who pick all our fruits and vegetables will make up for it

[@Ava02xw]

Trump literally wanted to make it illegal for parents to buy violent video games for their children when he first ran in 2016. I think we’re good. Hopefully he doesn’t keep his promise on this one😂

[@kyperactive]

Yeah no... Best case is we get a weaker version of these tariffs, and thats being nice.

[@jameslingenfelter5379]

Thank you for your hard work and promotion of knowledge Mr. Beat!

[@demarioavery197]

24:44 what children?

[@burgrrcat]

your speaking voice for videos has come so far you werent ever bad but compared to your first videos youve come along way

[@iammrbeat]

That's kind of you to comment. Thanks for your support.

[@nrsrymj]

I cackle when Donny says foreign countries pay the tariffs. And people actually believe him.

[@iammrbeat]

People tend to believe con artists, yes.

[@mattdeluccia153]

You clearly aren’t listening to what he is saying. President Trump has said over and over again the primary purpose of the tariffs is to incentivize businesses to make their product in the USA to avoid the tariffs. It’s very simple to understand. Why should a company that builds their factories in Mexico instead of Michigan or North Carolina sell their product into the states without penalty?

[@delanceysamuel4770]

​@@mattdeluccia153why is Don saying China pays the tariffs? Pay attention to what's being said instead of praying Donald means what you want him to mean.

[@nrsrymj]

@@mattdeluccia153 there are many products that can't be produced in America and even more products that can't be produced in America without imported material. Therefore, Donny's proposed blanket tariffs on our three largest trading partners is just punishing the American people.

[@nrsrymj]

@@mattdeluccia153 you're right that it's very simple to understand. It's just that.... You don't.

[@tellthemborissentyou]

There is a good theory that Smoot Hawley was a major cause of Japan deciding they needed an empire. The tariffs convinced them they had no future as a trading nation and needed a self sufficient empire to have a future. Basically Smoot Hawley resulted in war in thew Pacific.

[@cerdic6305]

Absolutely. In fact it went beyond just that. By reducing international trade so much it made countries much more isolated and less dependent on maintaining the status-quo between each other. Perhaps WW2 would’ve still happened, but it probably would’ve been a lot harder on the Axis powers if they had depended more heavily on international trade.

[@bisque6448]

That is just pure nonsense. Japanese expansionism had started long before Smoot Hawley was even an idea

[@ChadDerekJacobson]

Mr Beat defending trade exploiting slave labor in Chinese concentration camps for junk goods on spyware phone apps while also making the US self defense dependent upon industrial production under the sway of hostile governments and presenting that simplistic picture as being finely nuanced and intelligent

[@JohnBristol97]

It all depends how the tariffs are implemented, those saying more inflation’s a guaranteed result are wish casting!

[@kg8370]

mr beat ur awesomeeeee !!! keep uploading i love seeing ur videos pop up on my recommended😩😩😩

[@judesussman4502]

lovely video Matthew Beat

[@iammrbeat]

Thanks!

[@matthewsmeal3227]

Why did we lose manufacturing?

[@davea6314]

When Don the Con Trump's tariffs cause sh*t to hit the fan, don't blame me because I voted for Harris in Illinois.

[@johnbarnette6101]

@davea6314 Yeah, because Biden and Harris totally took some of the economic burden off of the consumer. It's not like their approval rating on the economy is in the high 20s 🙄

[@davidhochstetler4068]

I appreciate that you don’t think shit hasn’t already hit the fan

[@mattdeluccia153]

If his tariffs are successful and create thousands of jobs & economic growth will you admit you were wrong and consider voting for Republicans in 2026 & 2028?

[@ash_11117]

@@mattdeluccia153he won’t. Probably because of “muh abortion” or some bullcrap.

[@davea6314]

@@mattdeluccia153 It's more likely that pigs can fly and the moon is made of green cheese than Don the Con Trump's tariffs being beneficial for the majority of Americans.

[@TBone-w7y]

Mr Beat finally releasing the tariff video is a historic day

[@RBkaj]

"Nuhuh" - MAGA

[@mikerr193]

Thank you for making a tariff lesson i wouldn't want to miss with a day off 😉

[@bangbangyoureaboolean1324]

I hope Trump does the tariffs. People need to see the difference between good and bad policies.

[@gugurupurasudaikirai7620]

People are too stupid to learn the lesson. George W got a second term for f----s sakes

[@shush6552]

tbf the trumpies would find a way to blame trans people for it rather than their idol

[@nari5161]

They only triple down, no self-reflection or admitting they could have ever been misled.

[@oleonard7319]

Everytime we have had tariffs get close to 40% we had a depression and 60% a major depression

[@iammrbeat]

Are you talking average tariff rates or tariffs on specific goods?

[@oleonard7319]

@iammrbeat avg tariff rates.

[@TennisTennisTennisTennis]

Excited to watch this!

[@raghavpatel720]

The word Tariff seems to be quite topical right now

[@iammrbeat]

I am SEIZING THE MOMENT

[@Oscar_8008]

Thanks for making this sir. I have always had no clue in your live chats when people beg for videos about tarrifs

[@ArthurSanford3706]

But Kamala had a funny laugh so I still couldn't decide

[@2010hyundaielantra]

To be fair she proposed absolutely deranged policies, like a 25% unrealized gains tax that would trigger mass sell offs, in addition to price caps and providing first time home buyers with $25,000

[@lukeanderson439]

​@@2010hyundaielantraExplain the sell off part. What would the motivation be, specifically?

[@2010hyundaielantra]

@@lukeanderson439 Because they wouldn't be able to pay the 25% Unrealized gains. The rich aren't selling assets on a day to day basis. They would sell their assets to avoid being taxed, which would tank the stock market.

[@wunjo2166]

@@2010hyundaielantra the tax on unrealized gains were specifically for gains over 100m in value and it wasn't providing 25k to first time home buyers, it was a tax credit basically saying you can remove 25k from your federal taxes, it was unsubsidized

[@2010hyundaielantra]

@@wunjo2166 Does that really matter? It's still forcing rich people to sell off all of their stocks en masse

[@thesdfrommw9311]

You should consider making a video on the national debt and whether it’s actually important.

[@gugurupurasudaikirai7620]

Ah, the video that would explain how incredibly overrated Bill Clinton was

[@DanielClark-ix8bc]

This is what the Harris team and all the Democrats should've been hammering and y we should vote for her. Instead it's the same song and dance . He's racist. Homophobic. Etc. oh well

[@zoanth4]

Why would the democrat plan be superior when they have made America unlivable in just one presidential term??

[@iammrbeat]

To be fair, they tried. I don't think they framed it correctly.

[@zoanth4]

@DanielClark-ix8bc her economically plan was communism. She wanted redistribution and to cap prices on food and goods. No sane person can think that will work here.

[@ThunderTheBlackShadowKitty]

I loved the Harris campaign but frankly most people just don't know how tariffs work.

[@zoanth4]

@ThunderTheBlackShadowKitty why?? Her and biden literally wrecked our economy

[@Ziya-Cerezci]

I am against tariffs more than anyone I know, the only way I would be for tariffs would be if the tax structure were like the 19th century. Practically no taxes for everyone, small amount of tax for the imported goods.

[@sasselot]

the vid we don't deserve but desperately needed! ❤❤ all MAGA folks should be required to view this.. i thank you for trying to explain things impartially and briefly, it really makes me curious to learn more. Moral of the story: Tariffs should seldom be employed and when they are be in for a ride as they can be a PAIN to get rid of..

[@patty4349]

Don't bother. They won't watch it. I got in an argument with someone over it. They told me I OBVIOUSLY was buying into "leftist" propaganda and had no idea what I was talking about. I have a BA in History and a Masters in Teaching Social Studies plus 30 years in the classroom. But hey, it is IMPOSSIBLE that I might have heard the tariff idea and, using my knowledge of history and economics, realized the implications and consequences of the proposal ALL BY MYSELF.

[@chloefleming2468]

i love watching your videos, thank you! I wish I had a teacher as interesting as you lol

[@boko6565]

The hardest thing to do will be convincing the working class things are worse because of the tarrifs

[@Katsura-San124]

@boko6565 you can offset things by eliminating the income tax and property tax.

[@DavidRCelebrezze]

​@Katsura-San124 then you have to cut public services.

[@boko6565]

@@Katsura-San124 assuming they do that at all. I don't think it'll work. If people see 100 dollar t-shirts and 10 dollar eggs or 5 dollar gas it won't matter how little people are taxed

[@mfsalatino]

Yes to free trade, No to Chinese dumping.

[@benkim6969]

5:47 LMAO based

[@gsmith1]

I literally played this back 3 times and turned on captions to make sure he said based lol. Based. 😅

[@eonmusic00001]

The solution to wealth inequality will never be to support policies which help the rich, but rather policies that put money in the pockets of the poor. If you want more money, move left

[@EPluribusUnumYT]

As a person who also made a tariff video (really podcast) that isn't as nice to tariffs, I think one major issue is the fact of the analysis. As you state in the video, very few people benefit from Free Trade. Its a common misnomer that Trump uses that countries like Mexico are raking in the benefits while Americans get screwed, when that is FAR from the truth. Not only has Mexico not seen real wage increase until AMLO directly implemented policies raising wages, but resources from Mexico would then be taken by American Companies and sent to the US, a bizarro version of "The Large Sucking Sound" that Ross Perot would talk about with NAFTAs implementation. With American Companies being able to overcome a legal loophole in the Mexican Constitution that prohibits the taking of indigenous land. Will Tariffs fix the problem, not necessarily because simply ADDING tariffs to the economic system we have now still has greedy companies looking to exploit people, as is happening now with companies preparing. While you could enact policies that could negate the negative effects on tariffs, that can't really happen under capitalism as a whole. Trumps specific tariff plans are dumb because of the amount, how he plans to implement them. and the fact he's a billionaire fraud only looking for a way to make the rich pay less. And it has been especially hilarious to see Trump Supporters thinking that implementing Tariffs on Mexico is some sort of threat to them because they are too America-Pilled to look at the objective realities of the situation. Under our current free trade deals; Mexico gives us 60% of our Fruit Supply & 1.8 billion barrels of oil, the US gives them Lays Potato Chips and 70% of the weapons used by the cartels....oh no what will Mexico do if the US and them have to stop trading....especially since Sheinbaum is already implementing policies to make Mexico more self sufficient in food agriculture and other things. If the US gets hurt in a Trade War our Billionaire in chief is going to make sure Elon isn't hurt, meanwhile if Mexico gets hurt Sheinbaum's going to help the people.

[@jagolago-bob]

Actually, I thought Mr. Beat said that free trade does more or less help everybody. I agree with everything else, pretty much.

[@EPluribusUnumYT]

@jagolago-bob Well he brought up how real wages have not gone up, but does the more broad take of "Things are cheap". Which means little if wages don't account for that. I mean if he did say that, it'd be wrong; Free Trade is a handout for the Rich Elite.

[@jagolago-bob]

@@EPluribusUnumYT I think he meant that despite our wages not increasing, with low tariffs we have still been able to buy cheaper imported products (which has hidden our real situation)- the rich have got richer. The rich elite have always looked to get richer, at everybody else's expense, free trade or not.

[@EPluribusUnumYT]

@@jagolago-bob Its po-tay-toes/po-tah-toes IK, but without wage increases any "benefits" of free trade are borderline nonexistent.

[@sebbvell3426]

Conclusion: Tariffs suck! Free trade is good People shouldn't worry too much about trade deficit

[@DanielKolbin]

Raising taxes without raising taxes. 👀

[@iammrbeat]

Oh it's still raising taxes alright.

[@therealjjwatt]

@@iammrbeat raising taxes on the rich- happy raising taxes on the rich (by doing tariffs)- sad

[@joelb8653]

Tariffs can't make you buy domestic if what you want isn't produced domestically.

[@herschelwright4663]

24:42 that deserves a whole new video!

[@gyrozeppili488]

Mr. Beat will do ANYTHING to not release the election of 2024 video.

[@iammrbeat]

The script is already basically written.

[@Emmyjay1124]

This video is going to teach people to educate themselves and do research about what theyre actually voting for next time. Thank you very much Mr Beat. Love your channel.

[@scpatl4now]

Mr Beat has it right about tariffs, but if you want to solve the problem of people feeling the economy isn't working for them, tariffs are the last thing you want to do. How about changing the tax laws that make it financially favorable to offshore your business! How about not lowering taxes on the top 1% (raise them instead...by a lot). How about making it not so difficult to form a union. Oh, and maybe go after these insurance companies that deny every claim they get (United Healthcare anyone?). Then you could go after all these huge companies that have effective monopolies in products we all need like food and groceries, and be just a wee bit less pro-merger and big business. Will ANY of these things happen in the next 4 years...I'd put a substantial bet in the no column

[@jsoftwareect]

I agree tariffs not good but you think more unions and higher taxes on the wealthy are really going to help? The cost of union pay and benefits will also be passed on to the consumer. Increased tax on the wealthy will reduce investment and giving the government more money to waste doesn't sound like a good idea to me. Health care monopolies are only possible because of the government. Our "private" insurance is deeply affected by government regulation. And there is no grocery store monopoly there is plenty of competition and they already operate on tight margins. Get the government out of the way and let actually free markets operate.

[@scpatl4now]

@@jsoftwareect There are about 5 companies that own every product you buy at the grocery store. Grocery stores like Kroger and Walmart demand discounts such that small or indy stores can't compete. You get it backwards, we need MORE regulation of private insurance with fair rules that will stop these blanket denials of coverage that you and your doctor deem necessary. At least if we have unions they will be able to afford to work without requiring government assistance. As for taxes at the top, do you think the 15% carried interest tax of 15% is fair? I don't. It should be taxed like regular income. Maybe that would dissuade VC from destroying good companies. Higher taxes will not dissuade investment. We seemed to be able to get on just fine with much higher taxes at the top post-war until Reagan lowered them.

[@jsoftwareect]

@@scpatl4now Have you heard of economies of scale. These large companies because they have all these products are then able to produce them at a lower cost which believe it or not is passed on to the consumer. Walmart an Kroger outcompeted smaller stores because of their ability to negotiate lower prices for consumers. Requiring insurance companies to pay for more coverage for people is going to increase their costs which will cause them to increase premiums. Don't get me wrong I think it is awful for these companies to deny coverage but more regulation will not make healthcare cheaper. As for the era of ultra high marginal taxes, very few people actually paid that upper bracket. They had ways of reducing their reported income.

[@scpatl4now]

@@jsoftwareect Ok ghost of Robert Bork with your economies of scale. It's called monopoly pricing power and Kroger by being the big fish along with Walmart can demand deep discounts which are not offered to others which keep any smaller player from competing or even entering the sector. You already see monopolistic power by placement of products. You have to pay to have your products displayed prominently. In a competitive market, you couldn't do that. Also, their demand for discounts also crowds out smaller producers that can't afford the discounts which leads us back to the 5 major conglomerates that account for almost everything in a major grocery store. They can absorb those discounts until they have pricing power that raises the bottom line and we all pay more. One monopoly serving another. They all get rich while people starve.

[@EAWanderer]

In the end, price gauging affects the consumers 😒 Cost of Consumer goods 2024 ⬆️ 💵💵💵💵💵💵 2023 ⬆️. 💵💵💵💵 2022 ⬆️. 💵💵💵 Peoples Wages/Purchasing Power 2024 - 💵 ↔️ 2023 - 💵 ↔️ 2022 - 💵 ↔️

[@AliLib1900]

Thank you for calling out Patrick Bet-David. Hate how that guy tries to give off this allure of being some intelligent, business-savvy dude but just repeats the same ignorant MAGA talking points. The fact that he has so much reach is worrying.