What are Tariffs? Do we love them or hate them?

[@HistoryfortheAges]

Do you think the U.S. should add tariffs to various imports? Why or what not?

[@Miss.C.]

They already do have tariffs in place. products such as machinery, autos and transportation equipment, information technology products, minerals and metals, petroleum, chemicals, textiles and clothing, leather and footwear, consumer goods, wood products, and fish and fish products. Industrial tariffs are customs duties on non-agricultural merchandise imports, levied either on an ad valorem basis (percentage of value) or on a specific basis (e.g., $1 per 100 pounds). Approximately 94 percent of U.S. merchandise imports by value are industrial (non-agricultural) goods. The United States currently has a trade-weighted average import tariff rate of 2.0 percent on industrial goods. One-half of all industrial goods imports enter the United States duty free.

[@trainingolives3370]

Thank you! I really like the idea of tariffs on things that are easily American made and available, but not imposing them on things that aren’t that easy to come by. It just makes sense to protect our own businesses as much as possible lest we become too reliant on other countries and lose our skill. That would be a huge weakness.

[@HistoryfortheAges]

Thank you for watching. Finding the balance is tricky! Hope you share the video with others.

[@arioch2112]

Thank you, David! Always appreciate your time and knowledge, sir! I have been a fan of tariffs used for reciprocity in trade between nations since Tom Clancy's Debt of Honor had a decent explanation of how such things work on that level. I am a huge fan of the threat of tariffs for negotiation.

[@HistoryfortheAges]

Thank you for watching!! Please share with others

[@caewing85]

Thank you for this video. Sharing it so people can understand. I think they can be used well and they can be abused. But that is most things in government.

[@HistoryfortheAges]

Thank you for watching! And your comment. Please share the video with others.

[@leanneg4040]

Excellent video. Will have my children watch this. From the UK.

[@HistoryfortheAges]

Love getting viewers from outside the States! Thank you!

[@Clarkscondensed]

This was extremely helpful! Thank you!

[@HistoryfortheAges]

@@Clarkscondensed thank you! Please share. I would love others to watch.

[@carnakthemagnificent336]

I generally believe the best trade relationship between two nations is zero tariffs. Let each nation do what they do best and let citizens pay the lowest prices. However, question: How does one deal with a nation that (to the detriment of their own citizens) subsidizes specific industries in order to sell goods to other nations?

[@HistoryfortheAges]

@carnakthemagnificent336 good question. Also how do you compete when one nation is more apt to use child labor? It's a tricky one.

[@salomeycalixtesoria4913]

This is amazing.. Thank you. My family and I will keep watching you.

[@HistoryfortheAges]

Thank you!! I look forward to seeing your comments on my other videos. And please share this one! Thank you!

[@AlexanderWu4587]

My grandpa on my dad’s side used to have a factory in Vietnam. You name it his company manufactured it. He also had my dad and uncles working there and they were kids at the time. No such thing as child labor laws back then. The money they earned put my dad through Catholic school. One of the personal reasons why I favor tariffs on imports. I would rather pay more to support American manufacturing and American workers than buy imported goods made by people in sweat shops.

[@HistoryfortheAges]

excellent point. The question is how many other people are willing to do that.

[@natereath4966]

Really glad that I found your channel, thank you for explaining this.

[@HistoryfortheAges]

Welcome! Please keep watching and sharing my videos with others. I look forward to reading your comments on my other videos.

[@chrismobeck5450]

Thank you for this.

[@HistoryfortheAges]

Thank you for watching. Please share with others.

[@Nicole.Ferris]

Great video! Thank you for sharing this information.

[@HistoryfortheAges]

Thank you for watching! Please share with others.

[@shawnawolfgang]

Thank you for this. I would like to make one point. You mentioned that Europe has tariffs on vehicles imported from the US. I am a quality engineer in the automotive industry, and I can tell you with 100% certainty from a knowledgeable perspective that there are no American made vehicles anymore. "Made in the USA" is a decietful misnomer. While some vehicles are still assembled in the US, the vast majority of the components in your vehicle are imported, particularly from China and Mexico. The OEMs aren't going to bring that business back to the US because even with the tariffs, it's still cheaper to purchase those components from other countries, namely countries where labor costs are miniscule. Tariffs on the components that are imported are going to benefit no one except the OEMs, to the detriment of the American consumers.

[@HistoryfortheAges]

@@shawnawolfgang great point.

[@HistoryfortheAges]

@@shawnawolfgang great point. Thank you

[@eddiebarton7217]

David, saw your comment on 7news. Thanks for the video. I was thinking of this angle: Lower taxes and make up for this loss of revenue with tariffs. Like a toll, the tariffs would tax those who consume the products they want but the lower taxes would reward those who save and would encourage consumption of American products. This only applies to goods that both countries make and I wonder how effective controllers can be in deciding which products and how much of a duty to place.

[@HistoryfortheAges]

Thank you for watching!! And your comment. Please share with others.

[@Magdellena]

Just watched it. My children and I will watch it together on Monday so we can discuss it.

[@HistoryfortheAges]

excellent!

[@ILoveMeeses84]

Very informative as always, thank you!

[@mariaacolonn]

Thank you ! Homeschool mom here !

[@HistoryfortheAges]

Love helping homeschoolers! Thank you for watching. Please share it with others, and I hope you find many other videos you enjoy!

[@allegrap1054]

Thank you so much for the information. I’d love to see American manufacturing return. It’s important for a person’s mental and physical health to make things, build and create. And grow stuff. Small farmers are important too. Every country needs this formula in order to flourish. Imports are ok but they should never be more than what’s manufactured domestically. Building nourishes the spirit.

[@HistoryfortheAges]

@allegrap1054 thank you for watching. Please share with others

[@dryrotdryrot9908]

I watched the whole thing and found it completely fair. Full disclosure - I was not really expecting it to be. Obviously a 6 minute video is not going to detail every nuance, and it should not try. As far as understanding what a tariff is and how it can be used, I say David Halahmy has done well here.

[@HistoryfortheAges]

@dryrotdryrot9908 thank you!

[@Capitalist_Pig314]

Through most of our history, America used tariffs to raise our revenue for the government, but also to protect us from foreign competition. Strategically, this is a good idea. We have a big enough economy that we can have free wheeling capitalism within our borders they’ll be plenty of competition. But we will not allowgoods from low wage low environmental protection countries that can undercut us and countries like China, which, in many cases have government subsidies for exports. If we cannot have balanced trade with the world or better off without it.

[@HistoryfortheAges]

Thank you for watching and your thoughts. Please share the video with others. Thank you!

[@MariaSantana-hx4bb]

Very helpful! Thank you

[@HistoryfortheAges]

@@MariaSantana-hx4bb you're welcome. Please share with others

[@NatalieForood-p1v]

Great explanation!

[@HistoryfortheAges]

@@NatalieForood-p1v thank you! Please share the video with others. Would love to get more people to leave their thoughts

[@smerbear18]

Great video

[@HistoryfortheAges]

@smerbear18 thank you, please share with others

[@MndyFslr]

Tariffs are a leverage tool. Some goods made outside the US use "slave" labor which is a huge concern.

[@HistoryfortheAges]

@@MndyFslr good point. Thank you for watching

[@Augadawg27]

very helpful!

[@biffstrong1079]

Bad for free trade. In a global sense free trade tends to be better for everyone, economically. Goods produced most cheaply are the ones that get used in this situation. Tends to produce the most goods at the cheapest price. Now if you want to maintain the ability to make things domestically sometimes you exchange higher prices internally through tariffs, to make your manufactured goods competitive in your country. This is especially apt if countries you fear or don't trust are making the goods you need to maintain your standard of living and level of technology. Free trade works well in a world where everyone gets along. Part of the idea of the free trade agreement in north america or in the European Common Union is that we are all allies who get along and we don't expect one of our allies to stop giving us goods we need at a crucial time so it's probably best if whoever can produce the cheapest goods in this group, does so.

[@HistoryfortheAges]

@biffstrong1079 thank you for watching! Please share the video with others

[@Miss.C.]

products such as machinery, autos and transportation equipment, information technology products, minerals and metals, petroleum, chemicals, textiles and clothing, leather and footwear, consumer goods, wood products, and fish and fish products. Industrial tariffs are customs duties on non-agricultural merchandise imports, levied either on an ad valorem basis (percentage of value) or on a specific basis (e.g., $1 per 100 pounds). Approximately 94 percent of U.S. merchandise imports by value are industrial (non-agricultural) goods. The United States currently has a trade-weighted average import tariff rate of 2.0 percent on industrial goods. One-half of all industrial goods imports enter the United States duty free.

[@HistoryfortheAges]

Thanks for sharing those details. It is important to look at the numbers!

[@Miss.C.]

You have to teach bout world trade because that has been built not do whatever you want.

[@Miss.C.]

products such as machinery, autos and transportation equipment, information technology products, minerals and metals, petroleum, chemicals, textiles and clothing, leather and footwear, consumer goods, wood products, and fish and fish products. Industrial tariffs are customs duties on non-agricultural merchandise imports, levied either on an ad valorem basis (percentage of value) or on a specific basis (e.g., $1 per 100 pounds). Approximately 94 percent of U.S. merchandise imports by value are industrial (non-agricultural) goods. The United States currently has a trade-weighted average import tariff rate of 2.0 percent on industrial goods. One-half of all industrial goods imports enter the United States duty free.