Realize what they’re saying is that American workers need to compete with child labour… competitive forces are good for free market when the market operates under the same rules and regulations only!! government makes American companies pay people minimum wage and then cnbc(fake buisness news) says that American companies are just scared to compete with china and 3rd world companies for cheaper products and services. this is plain and obvious if you dont agree you don't understand anything or your a actor hired by government or cnbc🤣
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The tariffs dont switch manufacturing back to the USA, they just shift it from China to Vietnam, Cambodia, Thailand, Malaysia, India, etc... I own a manufacturing co and our goods CANNOT be made in the USA or no one could afford them and NO ONE would buy them. They are solid brass lighting. We tried manufacturing in the USA but our prices would have tripled and no one would be able to afford them.
clearly you dont own a large manufacturing co nor have taken an economics class. Lower cost manufacturing increases the standard of living of all americans and enables us to focus on high value added jobs.
This is how politicians play with regular everyday people. They take advantage of the lack of education of regular everyday Americans and use that as their advantage, yet these Americans cheers for their beloved politicians and vote for them. This dumbness is unbelievable! LOL
@@mayankjain3299 TH-cam censored my comment I was trying to say the same thing lol , got a notification of your reply but my original comment is gone now horrible!
@@makiyano9896 Americans are undereducated. Smart one do their own research. But most prefered Alex Jones, Hanity, Meadow. Do you know CA used to be a red state and TX blue state?
@@jtmartin8445 Yes, duties make imported goods more expensive, therefore allowing domestic producers of equivalent goods to charge higher prices as well. The prices for this type of good rise, no matter where it is produced. Duties are therefore inflationary. Undoubtedly, a disproportionate portion of the higher prices is born by lower income households, because they use a higher portion of their income for consumption. So the remaining question is whether the higher prices domestic producers can charge end up in payroll or in dividends.... My guess is that the money is going to be split between workers in Mexico where the production gets migrated to - Mexico being domestic under USMCA (formerly NAFTA) rules and the owners of these new Mexican factories, including US shareholders. No benefit will accrue to US factory workers.
@@Aapig They are the testing ground for weapons and tactics of warfare, plus geopolitical interests. Social security spending are much bigger and less important for the country.
Tariffs may not be the best tool to reduce trade deficit. What tool would be better? Cause the more money we send to China, the more they will use it against us
I see construction workers that work for the government change the corner of a sidewalk the other day. One person is actually moving and working while the other 4 watches. Paid hourly btw, takes days to finish a something that could be done in a few hours if they were paid by completion.
Americans want to pay more for less so they can be number 1. providing healthcare does not provide a STRONG impression. But Bashing China and the world does.
He didn't communicate it well enough. He needs to assume his audience is full of 10 year olds and dumb it all down so that the average voter can understand him.
Democrats pushed him aside to make room for Biden. LOL. If Bernie was the front runner, democrats would have been thriving now. Shot them selves in the foot. Republicans aren't much better but Trump is certainly the better choice as opposed to Biden
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@@Ckomon Americans do not mae consumer goods. Too competitive. No toy factory, no phone factory , no PC, TV factories, etc etc. US companies simply don't know how to compete.
People cry about tarriffs but hate it when American corporations offshore labor. At the end of the day it's the same thing. Either you want to protect domestic production or you don't.
How about we outsource all news media content where the labor rates are cheaper. Artificial intelligence is already in use. It would spawn a "just like that" moment.
I own a manufacturing co and we import some of our products from China. 100% of the tariff is paid by American consumers. The way it works is In order to have the goods cleared by customs the importer (person or co receiving the goods) must pay the tariff. In our case it is 30% of the goods value. When Trump increased the tariffs from 3% to 30% we just raised the price to the consumer by the same amount.
"slightly more costly." Are you kidding? 100% on EVs and 60% on everything else on Chinese imports (still cheaper than made in America). Even products imported from other countries have Chinese components. Tariffs is not the answer but the two old men refuse to face reality.
Both. Its unfortunate that so many dont understand that tariffs are indeed a tax on Americans which has the ability to make inflation worse. It's too bad neither trump or Biden or even their economic advisers understand this.
It also noteworthy that 80 billion was spent on Ukraine war alone. If war is important, Americans should understand that inflation is mandatory. End of the day, tariffs were revenue not spending.
Is it really a tax tax when Trump offset it by cutting your income taxes? Remember that? They didnt cover that. This is deceptively reported. Don't you know by now that you can't trust NBC? THEY LIE. THEY LIE. THEY LIE. and when they finish that they LIE SOME MORE.
@mikebostic9518 the only difference is that Trump was hated by this while Biden-Harris got a pass. Democrats are just so freaking liarrrsss lols. Trump actually went to the ASEAN for this, because he knew he needs to curb competition, that when he’s about to increase tariffs for Chinese goods, his back up is to diversify the market to the ASEAN; hence, Trump has good relations with Pres. Widodo of Indonesia and the rest of ASEAN leaders that time. Democrats really were a bunch of misinformation and hate spreader 🥴
I rather reduce the number of products I actually need and pay more for goods made in the USA even locally. If this it effects consumers too much simply reduce income taxes to the consumers by the amount of tariffs generated. I want long term suitable local manufacturing with a focus on quality and suitability not disposable. Ideally with a end-to-end recycling programs.
Why you don't do it then ? I live in Denmark and choose too buy a sweatshirt there was made in the usa that I prefer that over China no one force you to not do the same
@@YorickReturns Its not consumers it incentivizing business to locate and align themselves the the nation they hold customer value in. (USA, Japan, or China) This is in the self-interest of the both nations and their citizens as it creates opportunities, jobs, and overall value for every individual in the nation.
Only it’s impossible to make the same product as the same price. China has lower costs for materials and workers get paid less than America”s workers. This means the cost will always be lower in china and American companies see no profit having businesses in America compared to China. Here’s an example: You can stay in America and spend $10 to procure materials, pay $15 for workers, and sell your product for $30 which is a $5 profit. Now you can go to China and pay $5 for material, $10 for workers, and sell for $25 which is a $10 profit. Now which price would consumers rather choose: $30 or $25? And which would you choose for profit: $5 or $10? Seeing how low the prices are, consumers will buy more of the $25 product, meaning you get a $10 profit more often as compared to a $5 profit.
My understanding is tariffs on import goods is to make them competitive to goods produced locally. That way the local producers won’t be undercut by imported goods that don’t have the addition cost of producing locally. Level playing field in price. Now the consumer decided on the actual quality of the products. This is not a USA only thing. Other countries do this as well to imported goods. Hence the reciprocal trade proposal.
@@bademoxy Unless Mexico is part of US. You are bringing back nothing. The US trade deficit actually incresed not decreased. China has moved their manufacturing to Vietnam and Mexico.
So a 25% tariff only increased steel and aluminum cost by 2.4% and 1.2% that sounds like annual inflation numbers. Tariffs went into effect in 2018. Inflation by year 2018: 1.9% 2019: 2.3% 2020: 1.4%
It's funny how they only mention the numbers that benefit them. By their own accord, that's an additional cost of ~$1000 per year per person. Go look up how much revenue tariffs create vs income taxes, and the go look at how much you paid in income taxes. But CNBC doesn't want to tell you that.
Which is so contradictory with the goal of reducing carbon. Not like it’s going to improve EV market in the US which is basically just Tesla dominating. The other automakers are scaling back.
We get 5G infrastructure equipments from our allies from Sweden (Ericsson), Finland (Nokia) and South Korea (Samsung). The US is already the leader in 5G chipset, mobile devices, etc (Qualcomm to name a few). The US is not interested in dominating all fields of tech like China wants to and farmed those out years ago.
Why do people in China choose to move from the farms to the "sweat shops"? The same reason that Americans and Europeans of past generations did... It's better for them! It might be a step (or several steps) down for you, but that's not relevant.
CNBC is supposed to be financial channel? wow tariff has nothing to do with Americans, unless what is being imported has no competition in USA for example lets talk about cars, if USA companies are selling their cars for 40k dollars it doesn't matter the tariffs, the cars being imported, have to keep their price at 40k dollars or lower
See, china introduced electric cars that have really low pricing that costumers can easily afford. But now they have 100% tariff tax which means those cars now cost twice the price
U want all those spying machine on the street, and they can remotely stop your car from operation? Not to mention they are so easy to cause explosions. There are proof all of the place for above.
When we outsourced to China in the past, we've found it's very hard to get the factories and expertise back necessary to rebuild industry. We don't wanna do that again, especially with EVs. Also the Pentagon expects war with China this decade, and so the government is trying to decouple as much as possible to soften the economic blow in case war really does happen.
Tariffs are better than no tariffs. At least tariffs help gradually build the domestic industry, keep Americans employed, and weaken the industries of other nations by not importing their goods. What will people do with whatever little savings they enjoy on account of no tariffs if they have no jobs because all those jobs have been outsourced to sweat shops. It would be another thing if home prices fell drastically - that's what people want to buy. Will 0 tariffs help with reducing home prices? People don't mind paying slightly higher prices for whatever other knick knacks they buy on a day to day basis.
The problem is "Will domestic industry get built? And if so, will they mature and thrive if the tariffs are later removed?" If it's a no to either question, then you're ultimately wasting your time because you're just imposing higher costs on the domestic consumer on items that domestic producers will never, ever be able to produce as efficiently as those foreigners. For example no American will buy toys if they go up 10x in price, because that's the cost of toys made by US workers. And short of robots taking over American workers' jobs, that inefficiency will stay the same. Brazil has massive tariffs on nearly all imports for many decades, and its economy has, is and will continue to be second-rate. I mean no one buys a Brazilian-made car, except for Brazilians who can't import. Some nations instead focus on certain industries where they have a competitive advantage, and use that to subsidize job losses in other industries where they have no hope of competing internationally. The political issue is that it hollows out certain regions in favour of others, and that becomes an electoral problem. Still, blaming the foreigner is a politically seductive narrative.
@@Avantime Toys that cost ten times as much might not be too bad, if it reduces the number and increases the quality. Most American kids have ten times the toys they can manage, and most of them are cheap plastic junk. Basically, bringing production back to the US will partially substitute robotics for labor, as US labor costs are so high.
poor president doesn't even know what he's doing, it's clear they just give him stuff to sign and he just says "okay" and signs it, no matter what. That's why they want to keep him in there.
Without the Japanese cars in the 80, American cars will still have oil leak after 50K miles and lasted only up to 80K miles. Americans need to know how to compete.
@@davidwong5197 true except 50% of cars are actually full sized trucks . why do so many need trucks? and why are they all full size? what happened to small trucks?
@@ronblack7870Clearly you've not used a full size truck much if at all. A lot are used by contractors and municipalities for towing heavy trailers around.
@@davidwong5197 The tariff forced the Japanese makers to make cars here in the US. Most Toyota are made here. Ironically, Ford, a US company, made most of their cars in Mexico.
Americans aren't willing to pay higher prices, full stop. We've been complaining about inflation for years but all of sudden we're cool with higher prices?
Yes let’s have other countries charge 100% tariffs yet we charge them 20% then these economist goes crazy. Have those European and Asian countries lower their tariffs then we will lower ours. Let’s destroy rust belt areas but consumers get to buy cheap chinese goods.
what a cold take. tariffs are only a tax in the sense that imported goods then cost more than the importer wants to sell for (the tariff will bring up the retail price somewhere to around the levels of domestic prices of similar products). we don't want imports wrecking our economy. Sure, you could buy the Chinese EV's or whatever junk for like a smaller sum. Have fun with the result of having no domestic auto companies because they're all bankrupt from having no buyers and no consumer protections because the owners of the producing company are all overseas. sorry fellow american worker! I didn't know you would lose your job! I just wanted to buy cheap imported whatever! And that's not just cars; it's any industry.
Trump all day! Everyone with common sense knows that NY was political interference. As for both being old, that’s just a projection of your guy. Trump is exactly the same as 8yrs ago.
Crooked businessman vs. corrupt politician. The former swindled money from his business partners, the latter waging deadly wars all over the globe for decades. In the grand scheme of things, Trump and Biden are not that bad tho, former presidents and other countries' leaders ain't better than them. Obama, Bush, Clinton, etc are corrupt sociopaths. So too Putin, Xi, Abe, Modi, Sunak, Macron, Erdogan, Lula, etc. They are all either corrupt, inept, and/or downright psycho.
We should continue to keep tariffs high. Before trump, it was cheaper for companies to pay import fees from Europe and buy American company equipment from there. For example, Cisco was cheaper to purchase in Europe and ship to New York (pay 2.5% import fee) than to actually purchase in New York and pay the 8.875% sales tax. That made absolutely no sense and thankfully it has been fixed. I lost sales when I was in that industry due to this.
Tariffs should be focused and limited in time. In a case where China subsidized an industry (such as EVs) a tariff makes sense until the US industry develops. At some point, our subsidies should be compared to China's and if theirs is more, we should equalize with tariffs. If China no longer subsidizes their product we should remove tariffs. It is more complicated than that but that is the general idea...to create a more level playing field. We must always remember that for the most part American consumers pay for the tariff and any that other countries place on our goods.
Im a importer of some goods from China with 30% tariff. We re-routed the products through Latin America and we kind of relabelled them. Now the tariff is 3%. MAGIC MAGIC 😂. We raised the prices in America by 30% citing 30% tariff but we paid only 3%. We make more money now. I personally donated 8000 USD to Trump Campaign. We make 18.2 million dollars just because of Trump. Also we paid less tax on it. TRUMP is great for business. Im voting for Trump. I feel sorry for the consumer but making more money feels good. Honestly money is everything.
Yeah things might be slightly more expensive, but we will have better paying manufacturing jobs to buy things. It is too prevent outsourcing of jobs to China and other countries. That's the idea at least.
Economically speaking, countries should do what they're best at. If China is great at making cars and we're great at growing wheat, for example, trade lets everyone have more of both. This has been known by economists for centuries. We should instead invest in industries we have a competitive advantage in, whether that's manufacturing or something else.
@@wiimooden That does not work. Free trade and laissez-faire works only in an ideal world where people and capital flow freely and where every nation is a democracy focused on positive competition (growing the pie vs. taking your slice). You simply can’t do free-trade with an adversarial, authoritarian regime.
@@Ckomon you are correct. That is why the US has been failing at everything. The rest of the world is sick of their authoritarian ways of doing business and controlling the world.
oh no american companies can compete with cheap chinese trash thats dumped on the market this is terrible! Not to mention the consumer here in the US may actually work for and thus benefit from their company having the tariff protection or perhaps gain a new job doing so
Isn't the issue that with no tariffs, manufacturing jobs are moving to other countries. Wasn't Detroit the hub of car manufacturing back in the day before jobs were moved to china. These tariffs are meant to even the playing field and should be viewed as a long term investments. Its also good to note that both the presidential candidates agree on tariff. This video is a short term analysis of short term discomfort to American citizens.
@@TheVinster Why should the people PAY the c0st, If china can build a product at a lower cost it's good for the customer. Its US corporations that have a problem
@@spcysos The idea is not to send further jobs out. Damage is already done in the last 3 decades and the lost jobs are not coming back. Tariffs prevent that and evens the playing field for current American businesses.
The trade deficit just means americans spend more than they produce. Yes stopping that will mean the consumer gets less, but it also meand the us will stop selling its assets and piling up debt.
The US will always have debt so long as the US dollar remains the world currency reserve. Trade deficits are the prerequisite for dollar liquidity. The US just has to focus on high valued exports and domestic growth in consumption and investment. Growth through trade is a losing battle for Americans so we should stop focusing on trade deficits.
@@Pyrrhic. Don't cry for US. The trade deficit does not include service.US provides accounting, legal, consulting service to China that are not counted. Starbuck ,KFC. Pizza hut all made tons of money in China.
@@samuel.andermatt there are supplies in G7 that you can consume but not Made in China because the Uniparty already instructed the citizens to only buy Made in China.
I just wanted to comment to CNBC. As of today I've had enough. I have used your site for my market news for years, but you keep inserting far left leaning political articles into FINANCIAL news. I've had enough of it and will get my financial news elsewhere. If you can't maintain neutrality on a financial news site, I'm not interested in anything you have to offer.
None. Being lied to about the worth of one's work is not in anyone's self-interest, just as being lied to about one's health isn't in anyone's self-interest.
How about 100% to 300% Tariffs on Chinese products this time by Trump? This way, let the cheap products come from other countries. Even if US Customs collects these Tariffs, Trump can use that money to reduce Corporate taxes to 15%, Eliminate Social Security taxes, Give tax credits to many low and middle income tax payers? Rich people any way will not buy Chinese products that don't work after few months, instead they buy luxury stuffs!
What they didn’t talk about, which is another talking point, which is reality, is companies will take advantage of Tariffs,and that is companies in the US or company imports from Mexico by taking an opportunity to match prices of would be import costs due to tariffs and creating a new standard pricing matrix much higher to maximize profits, therefore yay for the consumer more inflation.
Companies don’t HAVE to pass the cost increases to consumers. With record inflation, came record CEO pay… That means prices of goods were increased to pay the wealthy; not counteract the costs of goods.
@@caleboutlar8260 "Overpaid", if it means anything objectively, means that there are other individuals able and willing to do the job to the required standard for significantly less money. What people really mean when they say "overpaid" is "Someone is making a lot of money. And I don't like it".
What is worse? Not having a job and not being able to afford to pay for anything or having a job, having to work 40 hours per week, and still not being able to afford to pay for anything?
Want to know how it can be better. Add slightly higher tarrifs at the some time make it where all companies with there hq in the u.s if they ship a good in the u.s to the u.s from the manufacturer to the retail store or customer that are ship throught USPS gets 100% tax write off you know how that will make company think ay maybe we should build a corp in the poorer states that need help like mississippi, Idaho, and Nevada and many other
This Donkeys and Elephants won't Move (Industrious) Until push comes to shove: This is just a Simple War of Carrots (Subsidize) and Sticks (Tax) 1. ProACTIVE: Either you invest in the Early Stages of Production and help reduce the price along the Value Chain = China's Approach 2. ReACTIVE: CathUp and play with the Sticks (Taxes) at the end of Production to influence the End Price= West's Approach And China is going to continue on beating Ya'll with Big Carrots on the head till you get this through Our heads. #ESG Now, Monitor your Annual #Suastainability #KPI's. And use them as A calculator to reduce Taxes or as A Pass to Increase the RichTaxGap. How do you Calculate or Estimate VALUE.The REAL Fabric of Society Value not through Price and Profits Alone but People and Planet
There is nothing competitive about Chinese firm products. Every Chinese firm in a new space get govt subsidies in addition to land and other factors of production. No firm in the world can compete against that. Because it is like starting a 100mts race, 60mts away from finish line. Also, the Chinese don’t allow other country firms to compete against local players. Unless it’s an industry they want to develop locally. A goood example is Tesla. Chinese dint have any EV before Tesla and now they are just dumping it in every country. They just copied Tesla, got benefits from govt., hired employees who are experienced there and dint allow any more American or other country manufacturers to enter. The Chinese use the wests free market against them and while keeping their markets anything but free. High time west wakes up
Well, the US simply can't compete on a one-to-one basis against China's ultra cheap labor in many of the manufacturing spaces. Not because they are more skilled, but because they are underpaid, work longer hours, don't have benefits, etc.
Why does China not have 0% tariffs or no local component rules on anything then? They're taking advantage of open markets with their state sponsored companies. Mostly because naive people like you take economics textbooks as the Bible.
No matter how people feel about Obama I can say that we did not have this problem under his presidency and I actually had extra money to save. now I can't even buy groceries without penny pinching, thanks to Trump and Biden!
Tariffs are good for a country's manufacturing base + Right to Work legislation (union dues are optional) to reduce strikes & lockouts. Plus, lower corporate tax rates.
A flat 10% import tax on all imports is good because it will level the playing field for domestic manufacturers who pay local taxes. Any other tax or import restrictions are wrong and bad for consumers.
Tariffs force reshoring. That is needed when China began a war with the US (see the Wolf Warrior concept to keep war under the table), the Houthis attacked anything going through the Suez Canal, and the Ukraine war destabilized the Black Sea and Baltic Sea. Tariffs are a defense against future wars and trade interruptions. The Navy cannot protect globalization as much anymore.
Why is no one asking why companies have to pass 100% of the cost of the tarrifs, how about they reduce profits a bit and absorb some of the cost? Also why are US companies failing to compete?
We don't compete anymore, we legislate protections for our international companies. We incessantly hear about how "unfair" it is that other Countries subsidize many of their industries and rather than compete on their level, and help OUR workers, we get protectionist legislation that only protects the companies.
That is the point at least to me if the cost to do business outside is more than it would be lovally what do you think is going to happen they are going to produce more locally.
They don’t pass 100% of the cost of the tariffs on. They will also take a hit from this because they have fewer costumers and smaller margins. A company is just an organized group of people if a company loses money people are losing money they aren’t just a boogey man money can be taken from. Also US companies can’t compete because the Chinese government already has tariffs in place against the U.S. Unrestricted free trade is bad economic policy if it isn’t reciprocal. Chinese companies make stuff cheaper not because they are better but because they have more dangerous factories and use cheaper more polluting materials. Also our government has failed to maximized productivity in the rest of the economy for the last couple decades which holds companies back.
They don't. But reduced profits mean reduced money for investment, which means reduced productivity. It also means reduced stock price and reduced returns for investors, who are not just "the rich" but retirees with pensions for example.
Thanks for showing they’re both equally economically stupid. No difference. But your attempt to try to paint one worse than another simply because of which old man wants it is equally stupid.
Been hearing nothing but negative on Tariffs. So how do you Balance the Trade wiith China for example. How do you protect US jobs too. Any suggestions ?
most rich men's kids blow their inheritance . Trump grew his into a 767 jumbo jet and a bunch of resorts and hotels, some which he BUILT. How many things did JOE and The Hoe build?
With quality being the same customers are interested in price. Buying an American car at $50k vs the same car made in China at $15k. But the Chinese has tariffs so it becomes $60k
@@JigilJigil 😂 your assumption is so wrong. I bet your country cant even make the tires of these cars though. Please go back to your own country's channel, we dont need your opinion here in North America.
Can someone explain to me why Biden keeps criticizing China's unfair subsidies from CCP but isn't the administration give incentive to certain industry too like chip, solar panel and etc? what's the difference?
Tariffs are my #1 voting issue because I believe in capitalism and free markets and shared prosperity and global cooperation. And yet I can't pick a candidate for me because the entire government apparatus is structured to be anti-China
If you believe in free markets then why do you believe in State Mercantilism that China is currently practicing? There is a reason there are zero candidates or parties that share your views.
China is taking advantage of naive people like you. Their system is not a free market and they're taking advantage of relatively free trade with their state controlled economy to take over industries with artificially cheap products.
I think this video has really tried to sell this as job losses and economic policy, letting free markets work, but it loses sight of the bigger picture. The "countries" on whom tariffs are being placed is mainly one, China. China historically speaking combines state capitalism and economic policy undercutting free market forces. Why in the world would you do business with someone who cheats? The markets were never free to begin with. Further, the larger issue is the rise of China as a global power. The more wealthy we make it through shipping jobs over there, the greater threat it could pose to us down the road. This is the real necessity and economic benefit of tariffs: maintaining the US's global power. Perhaps, a globalist hungry for money thinks that this is not a real benefit but it is crucial for the US to maintain this balance with its trillions in debt. If we fall from power, we will be one of the poorest countries in the world.
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335 million people and these are the two we have to choose from.
Who do you propose then?
Please, I would love to see your candidates.
@@TheDunningKrugerEffectisReal Chuck Norris
Tarrifs should be only from chinese imports and nothing else
There were another choice. But he was to dark skinned for white America and to light skinned for black America. Vivek.
Hmmm? A competent and honest administration, or a convicted failed former power hungry felon. Super difficult! 🫤
They're worse than the two old guys in the balcony on the muppet show.
Statler and Waldorf at least made me laugh. These 2 real life idiots will harm us!
As an outsider, we're worried too because our economy is tied to US economy
Realize what they’re saying is that American workers need to compete with child labour… competitive forces are good for free market when the market operates under the same rules and regulations only!!
government makes American companies pay people minimum wage and then cnbc(fake buisness news) says that American companies are just scared to compete with china and 3rd world companies for cheaper products and services.
this is plain and obvious if you dont agree you don't understand anything or your a actor hired by government or cnbc🤣
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Hallelujah! God still works wonders, I place myself in position for such miracles and testimonies 🙏
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I'm glad to write her today I do hope she will help me handle my pay check properly 😊😊😊
I messaged her and she responded nicely thanks🤝
Such kind of information we don’t get from most TH-camrs,Thanks I will get in touch with her ASAP
The tariffs dont switch manufacturing back to the USA, they just shift it from China to Vietnam, Cambodia, Thailand, Malaysia, India, etc... I own a manufacturing co and our goods CANNOT be made in the USA or no one could afford them and NO ONE would buy them. They are solid brass lighting. We tried manufacturing in the USA but our prices would have tripled and no one would be able to afford them.
FACTS
Wrong, small industry can trive in America
@@cajethanozor2322 Sure... are you willing to pay $5000 for a new iphone? i will answer that for you.... NOPE.
clearly you dont own a large manufacturing co nor have taken an economics class. Lower cost manufacturing increases the standard of living of all americans and enables us to focus on high value added jobs.
why is it so expensive to build stuff in America?
This is how politicians play with regular everyday people. They take advantage of the lack of education of regular everyday Americans and use that as their advantage, yet these Americans cheers for their beloved politicians and vote for them. This dumbness is unbelievable! LOL
Yeah exactly I see brain washed people on both sides it’s a shame.
That's the case in all societies.
@@mayankjain3299 TH-cam censored my comment I was trying to say the same thing lol , got a notification of your reply but my original comment is gone now horrible!
America is a dumb country in general
Yup agree both parties are corrupt people to blind to see that behind closed doors they are all the same while the regular working class people suffer
Very interesting how politicians can just make the public believe whatever they want us to believe.
Media* you meant…
@@greenpickle9606 yes, both actually.
@@makiyano9896 Americans are undereducated. Smart one do their own research. But most prefered Alex Jones, Hanity, Meadow. Do you know CA used to be a red state and TX blue state?
That’s because the military industrial complex owns both the media and our politicians.
so-called democracy made me laugh.
Tariffs like sales taxes are a regressive taxation, i. e. poorer people pay a larger portion of their income.
Not even close. They are used to protect domestic production and industry!
@@jtmartin8445 Yes, duties make imported goods more expensive, therefore allowing domestic producers of equivalent goods to charge higher prices as well. The prices for this type of good rise, no matter where it is produced. Duties are therefore inflationary. Undoubtedly, a disproportionate portion of the higher prices is born by lower income households, because they use a higher portion of their income for consumption. So the remaining question is whether the higher prices domestic producers can charge end up in payroll or in dividends.... My guess is that the money is going to be split between workers in Mexico where the production gets migrated to - Mexico being domestic under USMCA (formerly NAFTA) rules and the owners of these new Mexican factories, including US shareholders. No benefit will accrue to US factory workers.
Just another tax. How about the government just stops spending so much? Stop wasting so much?
Except foreign aid on wars, what does the govt, spend so much on?
It's just a tax for Israel and Ukraine
@@Aapig They are the testing ground for weapons and tactics of warfare, plus geopolitical interests. Social security spending are much bigger and less important for the country.
Tariffs may not be the best tool to reduce trade deficit. What tool would be better? Cause the more money we send to China, the more they will use it against us
I see construction workers that work for the government change the corner of a sidewalk the other day. One person is actually moving and working while the other 4 watches. Paid hourly btw, takes days to finish a something that could be done in a few hours if they were paid by completion.
They were more concerned about who can carry the golf bag.
Man all Bernie was trying to do was get us all affordable healthcare but he got pushed out for these two ?
Americans want to pay more for less so they can be number 1. providing healthcare does not provide a STRONG impression. But Bashing China and the world does.
He didn't communicate it well enough. He needs to assume his audience is full of 10 year olds and dumb it all down so that the average voter can understand him.
Democrats pushed him aside to make room for Biden. LOL. If Bernie was the front runner, democrats would have been thriving now. Shot them selves in the foot. Republicans aren't much better but Trump is certainly the better choice as opposed to Biden
There can be no affordable healthcare, only healthcare afforded by somebody else.
@@XOPOIIIOhow does europe work? Is it not a better solution
Awesome video, Gracias,! I think the market is over-heated. And I am concerned that people are focusing less on fundamentals and just chanting the mantra of dollar cost averaging and driving the market higher without considering fundamentals. It is a catch-22 for me. I mean I like crypto prices going higher but I also hate buying over-priced market and ETFs. Personally, I have stopped buying growth ETFs- they are ridiculously over-valued. Dividend crypto and ETFs are a little better but they are still over-valued. There is some hope with small and mid caps. I am not sure they are undervalued but at least they are less over-valued..This pattern offers a valuable insight for strategic planning. Despite these trends, i have delve deeply into active trading and managed to grow a nest egg of around 100k to a decent 432k in the space of a few months... I'm especially grateful to Haley Eleanor , whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
YES!!! That's exactly her name (Haley Eleanor )so many people have recommended highly about her and am just starting with her from South Savo 🇫🇮
She is my family' personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
The true financial unlock comes when you understand and know the technique required to manage your investment's overall risk profile and avoid permanent capital loss. It is critical to have a strategy in place to capitalize on profits when they occur.
How can I get in touch with Haley Eleanor? What are her offerings?
Oh yeah sure, she's active on What's ApK
Idk life was wayyyyy better up to 2020 under trump. Now with biden everything cost 4x more. Trump 2024 🇺🇸 🇺🇲
Tariffs are just another way for the government to regulate my life. :(
Yes, it’s a way for the government to save you from your own worst instinct: buying the cheapest item that is shipping American jobs overseas.
Tariffs should be Only for chinese imports and nothing else
@@Ckomonbut why does the military buy Chinese chips electronics?
@@Ckomonbut you and i cant buy ev car?
@@Ckomon Americans do not mae consumer goods. Too competitive. No toy factory, no phone factory , no PC, TV factories, etc etc. US companies simply don't know how to compete.
The government are making the money
My bank account is suffering.
Smh.
People cry about tarriffs but hate it when American corporations offshore labor. At the end of the day it's the same thing. Either you want to protect domestic production or you don't.
With this caliber of leadership, America is totally fxcked. 😢😢😢😢
Stop being melodramatic.
How about we outsource all news media content where the labor rates are cheaper. Artificial intelligence is already in use. It would spawn a "just like that" moment.
We already did. Most media use free lance reporter for oversea coverage
kudos to those St.oopid a merican who cheered the tariffs
I own a manufacturing co and we import some of our products from China. 100% of the tariff is paid by American consumers. The way it works is In order to have the goods cleared by customs the importer (person or co receiving the goods) must pay the tariff. In our case it is 30% of the goods value. When Trump increased the tariffs from 3% to 30% we just raised the price to the consumer by the same amount.
And his audience cheered and applauded having to pay much more for most of the goods! People enjoying high taxes! Lol
The actual question: Do Americans regard slightly more costly imports as more detrimental than exported jobs?
They already exported all the jobs 30 years ago, there isn't anything left to export now!
"slightly more costly." Are you kidding? 100% on EVs and 60% on everything else on Chinese imports (still cheaper than made in America). Even products imported from other countries have Chinese components. Tariffs is not the answer but the two old men refuse to face reality.
@@lashlarue7924 True, though not quite all. At least they are trying to "repatriate" productivity in geostrategically-essential high value sectors.
@@KayyHong Exploding EVs are not "cheap" in the long run.
@@buckwagers And what will those sectors be?
Both. Its unfortunate that so many dont understand that tariffs are indeed a tax on Americans which has the ability to make inflation worse. It's too bad neither trump or Biden or even their economic advisers understand this.
It also noteworthy that 80 billion was spent on Ukraine war alone. If war is important, Americans should understand that inflation is mandatory. End of the day, tariffs were revenue not spending.
Is it really a tax tax when Trump offset it by cutting your income taxes? Remember that? They didnt cover that. This is deceptively reported. Don't you know by now that you can't trust NBC? THEY LIE. THEY LIE. THEY LIE. and when they finish that they LIE SOME MORE.
@mikebostic9518 the only difference is that Trump was hated by this while Biden-Harris got a pass. Democrats are just so freaking liarrrsss lols.
Trump actually went to the ASEAN for this, because he knew he needs to curb competition, that when he’s about to increase tariffs for Chinese goods, his back up is to diversify the market to the ASEAN; hence, Trump has good relations with Pres. Widodo of Indonesia and the rest of ASEAN leaders that time.
Democrats really were a bunch of misinformation and hate spreader 🥴
At one time mostly everything sold in USA was made in USA, and people could afford it.
I rather reduce the number of products I actually need and pay more for goods made in the USA even locally. If this it effects consumers too much simply reduce income taxes to the consumers by the amount of tariffs generated. I want long term suitable local manufacturing with a focus on quality and suitability not disposable. Ideally with a end-to-end recycling programs.
If you want to "buy American", you can. Just don't force others to do it.
Why you don't do it then ? I live in Denmark and choose too buy a sweatshirt there was made in the usa that I prefer that over China no one force you to not do the same
@@YorickReturns Its not consumers it incentivizing business to locate and align themselves the the nation they hold customer value in. (USA, Japan, or China) This is in the self-interest of the both nations and their citizens as it creates opportunities, jobs, and overall value for every individual in the nation.
@@zangarkhan It will not work due US party politics. The more the rich gets, the less we have.
Do I need to remind you that the USA is by far the champion of planned obsolescence? You need to stop living in ur imaginary world.
That is the point of tariffs... Increase prices on imported stuff.
This makes it possible to make the same product in the country to the same price...
We've been complaining about inflation for years but somehow we're willing to pay higher prices just cause?
Only it’s impossible to make the same product as the same price. China has lower costs for materials and workers get paid less than America”s workers. This means the cost will always be lower in china and American companies see no profit having businesses in America compared to China.
Here’s an example: You can stay in America and spend $10 to procure materials, pay $15 for workers, and sell your product for $30 which is a $5 profit. Now you can go to China and pay $5 for material, $10 for workers, and sell for $25 which is a $10 profit. Now which price would consumers rather choose: $30 or $25? And which would you choose for profit: $5 or $10? Seeing how low the prices are, consumers will buy more of the $25 product, meaning you get a $10 profit more often as compared to a $5 profit.
@@BreadedAllOverYou>>Also, Mexico stopped offering low cost public land and tax cuts in EV productions, not subsidizing.
Tariffs are a sales tax that we pay. Everyone pays not just the Middle Class who think the economy only affects them!
My understanding is tariffs on import goods is to make them competitive to goods produced locally. That way the local producers won’t be undercut by imported goods that don’t have the addition cost of producing locally. Level playing field in price. Now the consumer decided on the actual quality of the products. This is not a USA only thing. Other countries do this as well to imported goods. Hence the reciprocal trade proposal.
Except we are putting tariff on things we don't make. WE do not make consumer goods. RCA, Magnevox are Chines companies now.
Let them undercut us and focus on quality products that will sell? Trying to understand this better over all.
@@davidwong5197 what is about TRYING TO BRING THOSE MANUFACTURES BACK don't you understand?
@@bademoxy Unless Mexico is part of US. You are bringing back nothing. The US trade deficit actually incresed not decreased. China has moved their manufacturing to Vietnam and Mexico.
Gud luck USA, you got two muppets to choose from
This message brought to you by the Chinese government
Tarrifs in theory encourage local production the problem is nothing is produced locally anymore
There is nothing to protect 😂😂😂 and the only ones left are dependent on china or else they will go bankrupt
"nothing is produced locally anymore" And WHY is that?
Yea, basically because other countries have lower costs of living, so they can produce things for cheaper.
I'm a machinist in NJ and I been producing machines parts, medical parts of all kinds since 1984. I don't get you.
@@dfpolitowski2 are you the reason why my er bill is $4,500 lol?
Don't care, nothing can keep me from voting for Trump
Somehow I already know what the CNBC stance would be before coming in
So a 25% tariff only increased steel and aluminum cost by 2.4% and 1.2% that sounds like annual inflation numbers.
Tariffs went into effect in 2018.
Inflation by year
2018: 1.9%
2019: 2.3%
2020: 1.4%
When AIPAC makes initial candidate choices then Americans vote on the limited pre-selected candidates, this is what you end up with.
Why does almost nobody talk about this??? It blows my mind how this fact is just blown over by people
It's funny how they only mention the numbers that benefit them. By their own accord, that's an additional cost of ~$1000 per year per person. Go look up how much revenue tariffs create vs income taxes, and the go look at how much you paid in income taxes.
But CNBC doesn't want to tell you that.
TRUMP 2024
we could have cheap Chinese EV's but they wont let it happen.. also.. where is our homegrown 5G tech?
And a whole bunch of other stuff.
Which is so contradictory with the goal of reducing carbon. Not like it’s going to improve EV market in the US which is basically just Tesla dominating. The other automakers are scaling back.
@@williamaseng exactly
We get 5G infrastructure equipments from our allies from Sweden (Ericsson), Finland (Nokia) and South Korea (Samsung). The US is already the leader in 5G chipset, mobile devices, etc (Qualcomm to name a few). The US is not interested in dominating all fields of tech like China wants to and farmed those out years ago.
@@tooltalku sound very scared and jealous of china🇨🇳
Donald Trump ❤❤❤❤❤❤
Who supports Chinese sweat shops? Everyone below in this comment section lol
Why do people in China choose to move from the farms to the "sweat shops"? The same reason that Americans and Europeans of past generations did... It's better for them! It might be a step (or several steps) down for you, but that's not relevant.
Yes, wumaos are all over the comments.
CNBC is supposed to be financial channel? wow
tariff has nothing to do with Americans, unless what is being imported has no competition in USA
for example lets talk about cars, if USA companies are selling their cars for 40k dollars
it doesn't matter the tariffs, the cars being imported, have to keep their price at 40k dollars or lower
See, china introduced electric cars that have really low pricing that costumers can easily afford. But now they have 100% tariff tax which means those cars now cost twice the price
them lil trucks they ship in a box?
Auto Union vote is too strong
U want all those spying machine on the street, and they can remotely stop your car from operation? Not to mention they are so easy to cause explosions. There are proof all of the place for above.
US economy just relies too much on auto industry
When we outsourced to China in the past, we've found it's very hard to get the factories and expertise back necessary to rebuild industry. We don't wanna do that again, especially with EVs. Also the Pentagon expects war with China this decade, and so the government is trying to decouple as much as possible to soften the economic blow in case war really does happen.
Haven't watched yet. But this is CNBC so I guess trump was worse. Right? That must be CNBC's take.
Tariffs are better than no tariffs. At least tariffs help gradually build the domestic industry, keep Americans employed, and weaken the industries of other nations by not importing their goods.
What will people do with whatever little savings they enjoy on account of no tariffs if they have no jobs because all those jobs have been outsourced to sweat shops.
It would be another thing if home prices fell drastically - that's what people want to buy. Will 0 tariffs help with reducing home prices? People don't mind paying slightly higher prices for whatever other knick knacks they buy on a day to day basis.
The problem is "Will domestic industry get built? And if so, will they mature and thrive if the tariffs are later removed?" If it's a no to either question, then you're ultimately wasting your time because you're just imposing higher costs on the domestic consumer on items that domestic producers will never, ever be able to produce as efficiently as those foreigners. For example no American will buy toys if they go up 10x in price, because that's the cost of toys made by US workers. And short of robots taking over American workers' jobs, that inefficiency will stay the same.
Brazil has massive tariffs on nearly all imports for many decades, and its economy has, is and will continue to be second-rate. I mean no one buys a Brazilian-made car, except for Brazilians who can't import. Some nations instead focus on certain industries where they have a competitive advantage, and use that to subsidize job losses in other industries where they have no hope of competing internationally. The political issue is that it hollows out certain regions in favour of others, and that becomes an electoral problem.
Still, blaming the foreigner is a politically seductive narrative.
Under the protection of tariff, industries can not grow up. They will lost everything in world market.
The money collected is going to Israel and Ukraine
@@Avantime Toys that cost ten times as much might not be too bad, if it reduces the number and increases the quality. Most American kids have ten times the toys they can manage, and most of them are cheap plastic junk. Basically, bringing production back to the US will partially substitute robotics for labor, as US labor costs are so high.
poor president doesn't even know what he's doing, it's clear they just give him stuff to sign and he just says "okay" and signs it, no matter what. That's why they want to keep him in there.
without tariffs we won't have much jobs here. Look at the Japanese cars in the 1970s and now it's cheap chinese BYD cars.
Without the Japanese cars in the 80, American cars will still have oil leak after 50K miles and lasted only up to 80K miles. Americans need to know how to compete.
@@davidwong5197 true except 50% of cars are actually full sized trucks . why do so many need trucks? and why are they all full size? what happened to small trucks?
@@ronblack7870Clearly you've not used a full size truck much if at all. A lot are used by contractors and municipalities for towing heavy trailers around.
So why can't U.S. companies improve their quality and compete with China and Japan? Can protectionism make the goods you buy better?
@@davidwong5197 The tariff forced the Japanese makers to make cars here in the US. Most Toyota are made here. Ironically, Ford, a US company, made most of their cars in Mexico.
Put tariffs on everything bring back American jobs just like Germany and Europe does
I suppose we need to build in the US and increase US jobs to offset those tarrifs.
How? Corporation will not invest unless they see a huge return in a short time. Why do we still not have 5G tech? Ans No one wants to invest
Americans aren't willing to pay higher prices, full stop. We've been complaining about inflation for years but all of sudden we're cool with higher prices?
America first means manufacturers first not consumers 😂
Yes let’s have other countries charge 100% tariffs yet we charge them 20% then these economist goes crazy. Have those European and Asian countries lower their tariffs then we will lower ours. Let’s destroy rust belt areas but consumers get to buy cheap chinese goods.
Which counties charge 100% tariffs?
dont worry, US barely has anything competitive enough to be charged 100% tariff
Might want to first check who started the trade war with China. The economists are perfectly sane given the information they know.
Atentado contra Kamala Harris, precaución.
what a cold take. tariffs are only a tax in the sense that imported goods then cost more than the importer wants to sell for (the tariff will bring up the retail price somewhere to around the levels of domestic prices of similar products). we don't want imports wrecking our economy. Sure, you could buy the Chinese EV's or whatever junk for like a smaller sum. Have fun with the result of having no domestic auto companies because they're all bankrupt from having no buyers and no consumer protections because the owners of the producing company are all overseas. sorry fellow american worker! I didn't know you would lose your job! I just wanted to buy cheap imported whatever! And that's not just cars; it's any industry.
both are uncomfortably old to be in office, but one has decades of experience in american politics while the other is a businessman with a felony
Trump all day! Everyone with common sense knows that NY was political interference. As for both being old, that’s just a projection of your guy. Trump is exactly the same as 8yrs ago.
Crooked businessman vs. corrupt politician.
The former swindled money from his business partners, the latter waging deadly wars all over the globe for decades.
In the grand scheme of things, Trump and Biden are not that bad tho, former presidents and other countries' leaders ain't better than them.
Obama, Bush, Clinton, etc are corrupt sociopaths. So too Putin, Xi, Abe, Modi, Sunak, Macron, Erdogan, Lula, etc. They are all either corrupt, inept, and/or downright psycho.
Yes! Inflate cheap goods lacking quality and deflate domestic goods
Cooperatives and strong unions need to be normalized across North America.
We should continue to keep tariffs high. Before trump, it was cheaper for companies to pay import fees from Europe and buy American company equipment from there. For example, Cisco was cheaper to purchase in Europe and ship to New York (pay 2.5% import fee) than to actually purchase in New York and pay the 8.875% sales tax. That made absolutely no sense and thankfully it has been fixed. I lost sales when I was in that industry due to this.
But trump also talked about reducing the income tax rate drastically so wouldn't that balance it out ?
Trump only wants to reduce the rich people's tax which, already enjoy multiple tax advantages.
That means the goverment would take on the burden, the debt will go even higher
It seems like a flat tax to me that would shift more of the burden to lower-middle class America.
Tariffs should be focused and limited in time. In a case where China subsidized an industry (such as EVs) a tariff makes sense until the US industry develops. At some point, our subsidies should be compared to China's and if theirs is more, we should equalize with tariffs. If China no longer subsidizes their product we should remove tariffs. It is more complicated than that but that is the general idea...to create a more level playing field. We must always remember that for the most part American consumers pay for the tariff and any that other countries place on our goods.
Im a importer of some goods from China with 30% tariff. We re-routed the products through Latin America and we kind of relabelled them. Now the tariff is 3%. MAGIC MAGIC 😂.
We raised the prices in America by 30% citing 30% tariff but we paid only 3%. We make more money now. I personally donated 8000 USD to Trump Campaign. We make 18.2 million dollars just because of Trump. Also we paid less tax on it.
TRUMP is great for business. Im voting for Trump.
I feel sorry for the consumer but making more money feels good. Honestly money is everything.
You have to be an American citizen to vote and propaganda pandas don't get to vote in the US election.
We Americans have run out of man to elect as our President same as Hollywood, run of American man to play the leading role.
Yeah things might be slightly more expensive, but we will have better paying manufacturing jobs to buy things. It is too prevent outsourcing of jobs to China and other countries. That's the idea at least.
Being lied to about how much your work is worth is like being lied to about how healthy you are.
Economically speaking, countries should do what they're best at. If China is great at making cars and we're great at growing wheat, for example, trade lets everyone have more of both. This has been known by economists for centuries. We should instead invest in industries we have a competitive advantage in, whether that's manufacturing or something else.
@@wiimoodenTariffs should be Only from chinese imports and nothing else
@@wiimooden That does not work. Free trade and laissez-faire works only in an ideal world where people and capital flow freely and where every nation is a democracy focused on positive competition (growing the pie vs. taking your slice). You simply can’t do free-trade with an adversarial, authoritarian regime.
@@Ckomon you are correct. That is why the US has been failing at everything. The rest of the world is sick of their authoritarian ways of doing business and controlling the world.
Tariff's will never replace income tax. Congress will never pass that. It helps pay for their salary.
Their salary isn't really all that great for living in D.C and their home state, this is why many of them sleep in their own office.
It is a consumption tax on the poor. Rich people are noyt buying private jet and mega yachts from China
@@WiscoTricks It does not matter. Our taxes still pays their salary.
Simply make you think twice to buy Made in China which the Uniparty also instructed only buy Made in China 😊 You're whining is so hilarious 😂
Why would they care where the salary come from?
oh no american companies can compete with cheap chinese trash thats dumped on the market this is terrible! Not to mention the consumer here in the US may actually work for and thus benefit from their company having the tariff protection or perhaps gain a new job doing so
Isn't the issue that with no tariffs, manufacturing jobs are moving to other countries. Wasn't Detroit the hub of car manufacturing back in the day before jobs were moved to china. These tariffs are meant to even the playing field and should be viewed as a long term investments. Its also good to note that both the presidential candidates agree on tariff. This video is a short term analysis of short term discomfort to American citizens.
If those companies move their manufacturing plants here, sure but otherwise seems like just a push?
@@TheVinster Why should the people PAY the c0st, If china can build a product at a lower cost it's good for the customer. Its US corporations that have a problem
@@spcysos The idea is not to send further jobs out. Damage is already done in the last 3 decades and the lost jobs are not coming back. Tariffs prevent that and evens the playing field for current American businesses.
You know what? My household doesn’t mind paying additional $400 a year to bring jobs back to The USA!!! Yes we don’t!
The trade deficit just means americans spend more than they produce.
Yes stopping that will mean the consumer gets less, but it also meand the us will stop selling its assets and piling up debt.
The US will always have debt so long as the US dollar remains the world currency reserve. Trade deficits are the prerequisite for dollar liquidity. The US just has to focus on high valued exports and domestic growth in consumption and investment. Growth through trade is a losing battle for Americans so we should stop focusing on trade deficits.
@@Pyrrhic. Don't cry for US. The trade deficit does not include service.US provides accounting, legal, consulting service to China that are not counted. Starbuck ,KFC. Pizza hut all made tons of money in China.
Nope, simply means buy Made in USA or G7. Why is that so difficult
@@ssuwandi3240 If you consume more than you produce, consuming what you produce yourself only means consuming less.
@@samuel.andermatt there are supplies in G7 that you can consume but not Made in China because the Uniparty already instructed the citizens to only buy Made in China.
I just wanted to comment to CNBC. As of today I've had enough. I have used your site for my market news for years, but you keep inserting far left leaning political articles into FINANCIAL news. I've had enough of it and will get my financial news elsewhere. If you can't maintain neutrality on a financial news site, I'm not interested in anything you have to offer.
Which tariffs are better for the American producer?
None. Being lied to about the worth of one's work is not in anyone's self-interest, just as being lied to about one's health isn't in anyone's self-interest.
We are better off investing in R&D. Bring back Bell Lab and PARC. Fund strategic market start up.
steel tarrifs hurt industries that use steel . it helps those that produce steel. there are 10 times as many workers using steel than producing steel.
You are forced to choose between two evils. Neither are great for the producers or consumers.
@@BreadedAllOverYou Sad thing is lesser of two evils isa still evil
How about 100% to 300% Tariffs on Chinese products this time by Trump? This way, let the cheap products come from other countries. Even if US Customs collects these Tariffs, Trump can use that money to reduce Corporate taxes to 15%, Eliminate Social Security taxes, Give tax credits to many low and middle income tax payers? Rich people any way will not buy Chinese products that don't work after few months, instead they buy luxury stuffs!
CNBC obviously doesn’t understand tariffs
So Dems learned hard way Trump's Tariffs are working, lol 😂
They should use the money from tariff policy to invest on companies that use U.S workers, instead collecting it as a trade tax.
"Companies that use US workers" yeah they import now 60% more expensive Chinese goods to make stuff
NO they used the tariff to subsidize farmers that lost Chinese business
What they didn’t talk about, which is another talking point, which is reality, is companies will take advantage of Tariffs,and that is companies in the US or company imports from Mexico by taking an opportunity to match prices of would be import costs due to tariffs and creating a new standard pricing matrix much higher to maximize profits, therefore yay for the consumer more inflation.
Companies don’t HAVE to pass the cost increases to consumers. With record inflation, came record CEO pay… That means prices of goods were increased to pay the wealthy; not counteract the costs of goods.
If CEOs are overpaid, why not outcompete them for the job?
@@YorickReturnsWhat?
@caleboutlar8260 he say if there get to much in salary he should do it cheaper and better
@@caleboutlar8260 "Overpaid", if it means anything objectively, means that there are other individuals able and willing to do the job to the required standard for significantly less money. What people really mean when they say "overpaid" is "Someone is making a lot of money. And I don't like it".
@@YorickReturns That's like saying, "if the government's corrupt, why not just outcompete them for the bribe?"
This guy thinks he smart. Why's not running for president. Fake news properganda 😂😂😂😂😂😂
What is worse? Not having a job and not being able to afford to pay for anything or having a job, having to work 40 hours per week, and still not being able to afford to pay for anything?
#PresidentBidenRematchWithPresidenTrumpAtTwentyAndTwentyFourIsTheBestSituationForUSA
All I know is my wallet and 401k was WAYYYYYY better under Trump.
Then you obviously don't know much
How have you lost money in stocks over the past four years?
The stock market is higher now then when trump was president.
Y’all be lying just to fit your agenda hahaha
@@blazeorangeandcamo***STUPID COOMMENT***
Want to know how it can be better. Add slightly higher tarrifs at the some time make it where all companies with there hq in the u.s if they ship a good in the u.s to the u.s from the manufacturer to the retail store or customer that are ship throught USPS gets 100% tax write off you know how that will make company think ay maybe we should build a corp in the poorer states that need help like mississippi, Idaho, and Nevada and many other
Very Ideological report
All country's take tariffs
Stop this nonsense
>all of my neighbors are terrible with money! Stop calling out my bad financial choices making me poorer!
And most of the Americans have credit card debt. So you should too right?
@@michaelhutchings6602 yeah, the EU is terrible with money. That is why they are so poor!
@@antiquehealbot6543 Hey it works for your kind when you go on and on about healthcare and education. Why not this?
@@birdstwin1186 Correct.
This Donkeys and Elephants won't Move (Industrious) Until push comes to shove:
This is just a Simple War of Carrots (Subsidize) and Sticks (Tax)
1. ProACTIVE: Either you invest in the Early Stages of Production and help reduce the price along the Value Chain = China's Approach
2. ReACTIVE: CathUp and play with the Sticks (Taxes) at the end of Production to influence the End Price= West's Approach
And China is going to continue on beating Ya'll with Big Carrots on the head till you get this through Our heads. #ESG Now, Monitor your Annual #Suastainability #KPI's. And use them as A calculator to reduce Taxes or as A Pass to Increase the RichTaxGap.
How do you Calculate or Estimate VALUE.The REAL Fabric of Society Value not through Price and Profits Alone but People and Planet
Imagine being so scared of competition you have to beg the government to artificially make it more expensive for your competition
When someone has an idea someone else says “… already does it”. People don’t want to build or invent anymore. 😂
There is nothing competitive about Chinese firm products. Every Chinese firm in a new space get govt subsidies in addition to land and other factors of production. No firm in the world can compete against that. Because it is like starting a 100mts race, 60mts away from finish line. Also, the Chinese don’t allow other country firms to compete against local players. Unless it’s an industry they want to develop locally. A goood example is Tesla. Chinese dint have any EV before Tesla and now they are just dumping it in every country. They just copied Tesla, got benefits from govt., hired employees who are experienced there and dint allow any more American or other country manufacturers to enter. The Chinese use the wests free market against them and while keeping their markets anything but free. High time west wakes up
@@nshs1234Boohoo. Welcome to the market place. No company starts out on the same playing field.
Well, the US simply can't compete on a one-to-one basis against China's ultra cheap labor in many of the manufacturing spaces. Not because they are more skilled, but because they are underpaid, work longer hours, don't have benefits, etc.
Why does China not have 0% tariffs or no local component rules on anything then? They're taking advantage of open markets with their state sponsored companies. Mostly because naive people like you take economics textbooks as the Bible.
😂i enjoy to read the logics saying that domestic goods have higher quality and foreign goods are cheaper and dirty. Where did this logic come from?
One is proven to be a disaster for the past 4 years
No matter how people feel about Obama I can say that we did not have this problem under his presidency and I actually had extra money to save. now I can't even buy groceries without penny pinching, thanks to Trump and Biden!
Biden's policies are really Obama's which he was wise enough to not get blamed for.
479$ a year omg 😱
It would be better if we had a 10% sales tax _in addition_ to the 10% tariff.
Tariffs are never a good thing!
Tariffs are good for a country's manufacturing base + Right to Work legislation (union dues are optional) to reduce strikes & lockouts. Plus, lower corporate tax rates.
A flat 10% import tax on all imports is good because it will level the playing field for domestic manufacturers who pay local taxes. Any other tax or import restrictions are wrong and bad for consumers.
NO it is a national sales tax.
Tariffs force reshoring. That is needed when China began a war with the US (see the Wolf Warrior concept to keep war under the table), the Houthis attacked anything going through the Suez Canal, and the Ukraine war destabilized the Black Sea and Baltic Sea. Tariffs are a defense against future wars and trade interruptions. The Navy cannot protect globalization as much anymore.
Why is no one asking why companies have to pass 100% of the cost of the tarrifs, how about they reduce profits a bit and absorb some of the cost? Also why are US companies failing to compete?
Because the US has higher labor costs than basically every country.
We don't compete anymore, we legislate protections for our international companies. We incessantly hear about how "unfair" it is that other Countries subsidize many of their industries and rather than compete on their level, and help OUR workers, we get protectionist legislation that only protects the companies.
That is the point at least to me if the cost to do business outside is more than it would be lovally what do you think is going to happen they are going to produce more locally.
They don’t pass 100% of the cost of the tariffs on. They will also take a hit from this because they have fewer costumers and smaller margins. A company is just an organized group of people if a company loses money people are losing money they aren’t just a boogey man money can be taken from.
Also US companies can’t compete because the Chinese government already has tariffs in place against the U.S. Unrestricted free trade is bad economic policy if it isn’t reciprocal. Chinese companies make stuff cheaper not because they are better but because they have more dangerous factories and use cheaper more polluting materials. Also our government has failed to maximized productivity in the rest of the economy for the last couple decades which holds companies back.
They don't. But reduced profits mean reduced money for investment, which means reduced productivity. It also means reduced stock price and reduced returns for investors, who are not just "the rich" but retirees with pensions for example.
Thanks for showing they’re both equally economically stupid. No difference. But your attempt to try to paint one worse than another simply because of which old man wants it is equally stupid.
Tariffs are better than income taxes.
Been hearing nothing but negative on Tariffs. So how do you Balance the Trade wiith China for example. How do you protect US jobs too. Any suggestions ?
D.J. Chump has no idea what he is talking about. I'm sure he flunked
economics 101 at Wharten School Of Finance!
Grumpy Bye-done fan spotted 😂
most rich men's kids blow their inheritance . Trump grew his into a 767 jumbo jet and a bunch of resorts and hotels, some which he BUILT. How many things did JOE and The Hoe build?
With quality being the same customers are interested in price.
Buying an American car at $50k vs the same car made in China at $15k. But the Chinese has tariffs so it becomes $60k
BYD made a car that can go 2000KM with only 1 tank of gas under 30k, I want that car.
Lol. If that's true, then we need to buy some, reverse-engineer it, and then mass produce the copy in Mexico, Vietnam, or India.
You have it in your country China.
@@JigilJigil 😂 your assumption is so wrong. I bet your country cant even make the tires of these cars though. Please go back to your own country's channel, we dont need your opinion here in North America.
@@JigilJigil You dont have it in India lol
@@lppoqql wumao got mad, I am indian as much as ur mod3er iz. lol
Can someone explain to me why Biden keeps criticizing China's unfair subsidies from CCP but isn't the administration give incentive to certain industry too like chip, solar panel and etc? what's the difference?
Tariffs are my #1 voting issue because I believe in capitalism and free markets and shared prosperity and global cooperation. And yet I can't pick a candidate for me because the entire government apparatus is structured to be anti-China
China isn't going to keep putting up with this
Agreed! Over the attack on China
If you believe in free markets then why do you believe in State Mercantilism that China is currently practicing? There is a reason there are zero candidates or parties that share your views.
China is taking advantage of naive people like you. Their system is not a free market and they're taking advantage of relatively free trade with their state controlled economy to take over industries with artificially cheap products.
capitalism is bad, look at how it keeps majority poor
I think this video has really tried to sell this as job losses and economic policy, letting free markets work, but it loses sight of the bigger picture. The "countries" on whom tariffs are being placed is mainly one, China. China historically speaking combines state capitalism and economic policy undercutting free market forces. Why in the world would you do business with someone who cheats? The markets were never free to begin with. Further, the larger issue is the rise of China as a global power. The more wealthy we make it through shipping jobs over there, the greater threat it could pose to us down the road. This is the real necessity and economic benefit of tariffs: maintaining the US's global power. Perhaps, a globalist hungry for money thinks that this is not a real benefit but it is crucial for the US to maintain this balance with its trillions in debt. If we fall from power, we will be one of the poorest countries in the world.
Tariffs are horrible policy!
How? You want your country's market to be completely taken over by foreign nations who puts heavy tarrif on anything your country produces.
I disagree. 10% tariff on all imports will simply level the playing field for domestic manufacturers to make up for lost taxes.