The Fight Over Trump’s Tariffs Just Got REAL!
(00:00.962)
What appeals court knocked out Donald Trump’s tariffs. It’s going to go to the Supreme Court and we shall see. The issue at hand is whether or not this is an emergency. Donald Trump, he likes to use emergency powers. he basically, his argument is that because of fentanyl, he has the right
to put on all of these tariffs. Now, I’m gonna ask you a quick question. Is it an emergency? An emergency that he puts tariffs on kettleballs, barbells, flatware? I don’t know. It seems to me it’s gonna be a bit of a stretch. However, again, every single court so far has knocked down
his tariffs and his emergency powers, but we shall see in the Supreme Court. It’s interesting, a couple articles out today actually talking about specific tariffs on specific items, because he’s basically going line by line by line and saying, hey, listen, we’re whacking this product. We’re not going to whack that product. We’re going to whack this product. Story about it, again, interesting. A flatware maker used to be the country’s largest flatware maker.
state New York, and they are thrilled, thrilled that Donald Trump is putting tariffs on flatware. It helps them. They went bankrupt once. They’re trying to come back and they said they can’t make product here in the United States that people want to buy because it’s just too expensive. And this is the argument that people have for tariffs. We want to protect this country from cheap imports. Okay. How do feel about that as a consumer?
(02:05.462)
I don’t know. I’m from the camp that as long as wherever you’re getting the imports from, as long as they are not subsidizing, the government’s not subsidizing that industry, they’re not dumping product in our country and gives us an unfair, gives them an unfair advantage. I like having.
lower prices. And this idea that the United States should just become this complete walled off, self-contained unit. You some people think that that’s the greatest thing going. However, you want to let history be a guide. China tried that, and it didn’t work well for them at all. And again, that’s where they declined, where they were once the most
powerful, highest GDP of any nation in the entire world. When they were trading with everyone, they stopped that. They stopped that. And then they went backwards. They closed themselves off to the rest of the world. Again, we’re going to see where this thing ends up. I don’t know at this point in time. Again, I’m hearing it from both sides, from people out there.
The reality though is, and again, the justification that they keep using when it comes to this and all the tariff revenue that we’re bringing in. finally, some of them are starting to admit that yes, it’s a tax on the American people and prices are coming up. More and more companies, more and more companies coming out and saying, yes, we are going to raise our prices. And again, if you speak to any of the executives,
at these companies, yeah, they’re doing it little by little. They’re doing it little by little, but you’re going to be paying more. You couple this with the fact that the cost of living is so high in the United States. Again, it’s affecting everyone. You’re seeing story after story, younger people out there really scared for the future. We’ve talked about this here on the program.
(04:31.278)
I see the differences when I’m, you know, I traveled various different places around the world and the difference between what we pay and what others pay. And it’s significant. It really is. When I have more and more clients, more and clients of ours asking questions about, you know, maybe I should retire in Portugal. Maybe I should retire in Spain. Maybe I should retire in Greece.
somewhere else because the cost of living is that much lower. It’s a reality. It’s a reality. And again, you want to close the walls off, bring everything here. Again, you’re going to be paying much, more, not to mention the fact. Do you think it’s going to stick?
Do you think it’s going to stick? Next, let’s someone else come different from Democrat. I don’t know, maybe they will. Maybe they’ll, they like all of this tax revenue because that’s what it is coming into the federal treasury. And we’re getting being gaslighted by the current administration talking about how fantastic this is. And it’s great for the finances of the United States. Yet you take a look at our budget deficits that continue to grow.
They’re not doing anything when it comes to cutting spending, little to nothing, as far as I’m concerned, as far as I can see. mean, again, you are what your record says you are. You can take a look at the numbers as much as I can take a look at the numbers. How will Congress react to this? Again, we’re getting back, Congress coming back into session. And I’m sure Donald Trump is going to be, you know, making a lot of phone calls saying, hey, you know, listen,
these tariffs could put away, we’re to need to do this through Congress the way it should have been done in the first place. I don’t see it. I don’t see it happening. Again, I don’t see it flying at all. I don’t think you’re going to get Congress to get on board with this. They won’t have enough people to go along with it. Certainly as it’s being applied right now, where it’s haphazard, where you’re picking and choosing winners and losers. And we’re supposed to be equal under the law here in the United States. Go back to Liberation Day.
(06:47.52)
I know I’ve discussed this before here on the program. Back in Liberation Day, beginning of the speech, it looked like it was going to be 10 % or 15 % across the board. And the financial markets had a big sigh of relief. They were thrilled with that. OK, we’re going to get tariffs, but at least you know what they are. It’s going to make sense. And markets went through the roof.
As soon as he came up with that ridiculous chart and all these reciprocal tariffs, many of them are not even reciprocal at this point time. I don’t understand the tariffs on Brazil. You know, we run a trade surplus with them. That’s when things went haywire. And now again, it’s piecemeal. It’s picking and choosing. I don’t see how that’s going to hold up in the courts. Watchdog on wallstreet.com.
