Not a Trump fan but maybe it will force more Americans to buy US-made goods, which might be good for supporting our own homegrown businesses. Covid and wars have shown us that domestic goods are important to have in our back pocket.
@@kriswright4739 The plan is to reinvest back into American production. We don't want and cant have a 100% everything made in America but we do want to get back to being competitive. More important thanks to the supplies shortages that happened during COVID, we want for our tech, healthcare, along with defense industries to get as close as possible to being truly 100% made in America. It took time to lose our production abilities and it will take time to rebuild and bring our capabilities to be able to fully produce products in America for export or domestic consumption.
The importing countries usually benefit from a tariff, as they are the ones imposing the tariff and collecting the revenue. Domestic businesses also benefit from tariffs because they make their goods cheaper than imported goods, hence driving up the demand for their products.
Tariffs aside, when China cancelled their orders here in Australia, it hurt a lot of businesses. Livestock and other goods were stuck at ports with nowhere to go. Crayfish dropped in price here due to oversupply.
@babycakes9337 It's could happen to your raw materials like Iron Ore as well.. They have started on a project in Simandou and another internal innovation that will speed up steel production without the need for high grade ore
@@babycakes9337 china is never a free trade it block everything US trying to sell. No google , no facebook, no easy manufacture access, less overseas products are able to enter as its so protectionist. Perhaps this is how the business model took them out of poverty other word from low income to middle income. right now Trump are just defending its economy sovereignty no wonder it will target China pretty much common sense when your product easily enter US but not vice versa. Tariff will go to 100% instead of 60%. This mastermind & advisor bob lighthizer (previous USTR & deputy USTR under Reagan admin) he started with Japan in 80's now with China trust me it will go same path just like old days the Reagan time ended with 100% tariff at the time.
Using teriffs to force companies to manufacture goods in America has another problem not stated. Where will the labor for these new factories come from? US unemployment is very low. Less than 4%. And since Trump plans to deport 11-13 million workers, that labor pool for the new manufacturing will be very, very scarce. Such that the increase in labor costs will outway the Tariffs Trump intends to charge. So manufacturing will remain in foreign countries, and goods will just cost more for Americans, with no tangible benefits to show for it.
Yes, and add Trump’s plan for Mas deportations to the mix: do you know who does the majority of the gruelling work in slaughter plants and farming and agriculture? Most if not virtually close to all are undocumented workers. So if you thought grocery prices were high now just wait till meat and produce, and most everything else doubles in price due to all these ridiculous measures.
The number of companies in the last trade war, that closed up all their operations in China and moved production back to the USA: ZERO. What did they do? They moved their productions to other countries not under tariffs, like Vietnam, Thailand, Malaysia, Indonesia, the Philippines. and none returned their productions to America.
That would only be true if policicians kept their campaign promises, which is far from guaranteed. Most Obama voters, for example, were very disappointed when he broke most of his campaign promises and did the opposite of what his voters hoped he would do. He even got a nobel peace prize and then went on to involve the country in 7 wars. He promised to close Guantanamo. No joy. Many such examples.
@@slapkit51 Then, what if those goods are basic necessities like food, water, and clothing? Will you be able to survive without it when all other businesses raise their prices?
@@slapkit51 if its necessity and there isno alternative, they will buy it. the difference is, it opens opportunity for ppl to invest in production capacity locally that will hire ppl and in turn additional wages to these ppl will increase buying power of the local economies.
@@Sonsnhj3682 Not sure you understand how tariffs work. If we already make or produce it in America then it doesn't get raised because it wasn't imported. For example avocados from Mexico get a import tax or tariff. However avocados made in California do not. So now you're buying avocados made in California because they cost less than the ones made in Mexico. Because of this the farmer in California makes more money and pays more taxes. Now look at Canada it has to import everything. They use our ports in California and Baltimore to have products brought in trucked or railed north to Canada. Canada may not like it but it became America redheaded step child because it's a lazy country that didn't invest in its own future. They share a border with the biggest everything so they enjoyed that benefit the last 75 years.
@ This is not bad for the US. This is bad for the countries trying not to use the dollar. In truth, they are not looking into ending trade with the US dollar. These countries are looking for opportunities to use their currencies more. There is a nuance in this message that is lost on most undereducated people who don’t understand the topic. By doing this these countries increase the risk of trade with one another that the dollar fixes.
@chillxxx241 Brics will probably make it's own currency and Macron France into using Yuan with China. Trunp put tariff on french wine last time and it's not forgotten.
@ It doesn’t really matter because the BRICs don’t represent that much in world consumption. They aren’t part of the global network. They sell raw materials to China to produce items for the US and EU. The BRICs countries essentially serve the same as colonies did to European empires in the past, but now they service China. It won’t matter until BRICs countries can build “value added” goods that the Chinese are willing to go into debt to purchase.
Start talking about significant price increases in cellphones, tablets. tvs, modems and computers as these items are produced in China and other Eastern countries, and the masses will wake up. Additionally, some items would become overpriced if produced domestically to compensate the US labor market.
if domestic demand is high enough, just like USA, then it opens opportunity for ppl to invest in production capacity locally that will hire ppl and in turn additional wages to these ppl will increase buying power of the local economies.
@stevetenggala2834 With regard to certain products such as electronics, foreign manufacturers have the advantage of geography to necessary raw resources. Secondly, among the American populace (to which I am ), not many young people would be attracted to these manufacturing jobs. Culturally, we are more than three generations away from family members who occupied these jobs on that 40 year- gold watch and pension plan. The genie of globalization (which was always there) is out of the bottle and can't be challenged without adverse consequences.
@eljefeog Not in America's current economic condition. We have a labor shortage as is. And Trump also wants to reduce our labor pool by 11-13 million people. Labor costs will be too high to justify the long-term outlays to build new factories (which could take upto 2 years to build) and then hire to fill them. So instead, things will still be manufactured abroad where, despite the teriffs, labor costs will still be lower, and we will just pay higher costs for goods, with no added benefits.
@@eljefeog Americans don’t think, and are obviously not getting that education they need China will have a record 1 trillion dollar trade surplus with the world for 2024 Even with the tariffs we and other countries have imposed on them these last 7 years tariffs are just a tax on the American people Who just went to the election booth complaining about the economy, inflation and increased cost of living… when the average US household paid an extra 500 dollars per year for those current tariffs. While the average household will pay 2600 dollars per year if trumps implements his new tariffs These last few years China has actually invested a few trillion in its Global/ South/Belt and Road partner countries Helping to build roads, ports, rail lines etc etc etc Increasing these countries ability to export and trade with China Yet China will see that whopping 1 trillion dollar trade surplus And will continue to have trade surpluses because they lead the world these days in 57 of 64 critical technologies of the future What most Americans don’t get is to bring that manufacturing back home They will need to build the factories, infrastructure like fix up roads, railways, give financial incentives, give tax breaks, educate and retrain the people pay the people those high wages etc etc etc There was a recent study for America (well it does state North America but then Canada was a National Security Risk to the USA the last time Trump was in office …. And proposed 25% tariffs this time around ) to be able to manufacture just batteries alone it would cost 580 billion USD to get that up and running in the USA (that’s if China lets America use their tech) Meaning all that Americans wants to do?!!! Like bring that manufacturing back home Will cost a lot of money Which means the American people have to be willing to pony up the cash Paying more in taxes Paying more for their goods and services etc etc etc Yet 2/3rds of Americans waited in line for hours at the election booth recently complaining about the economy, inflation and cost of living increases 🙄🙄🙄 So while America taxes its people raising tariffs…. China lowers taxes on its people, lowering it’s own tariffs 👇 On 1 July 2018, China slashed the import tariffrates of daily consumer goods involving 1,449 tariff lines. The term ‘daily consumer goods’ covers eight categories of product: food; apparel, footwear and headwear; furniture and houseware; sundry grocery items; cultural, sports and entertainment supplies, home electronics; daily chemical products; and medical and health products. The average tariff rates of the goods involved have been reduced from 15.7% to 6.9%, a reduction of 55.9%. Among these, the average import tariffs for apparel, footwear, headwear, kitchenware and fitness products have been reduced from 15.9% to 7.1%. For home appliances, such as washing machines and refrigerators, the reduction was from 20.5% to 8.0%. For processed food, the rates were cut from 15.2% to 6.9%. The average tariff rates for detergents, cosmetics, such as skincare and haircare products, and some medicine and health products have fallen from 8.4% to 2.9%. This is the fifth time that China has lowered import tariffs for consumer goods in recent years. In November 2018, China reduced the import tariffs on 1,585 taxable items, including industrial goods. The average tariff rate for high demand mechanical and electrical equipment, such as construction machinery, instruments and meters, was lowered from 12.2% to 8.8%. For textiles and building materials, the average tariff rate was cut from 11.5% to 8.4%, while that for certain resource goods, such as paper products, as well as primary goods fell from 6.6% to 5.4%. ResearchHKTDC 👇 China starts zero-tariff treatment for 6 least-developed African countries Positive move to continue bolstering bilateral trade, show demonstration effect 8 Aug, 2022 The Customs Tariff Commission of the State Council said last week that it will axe tariffs on 98 per cent of taxable products from “least-developed countries”, including Cambodia, Laos, Djibouti, Rwanda and Togo SCMP 👇 By GT staff reporters Published: Dec 25, 2023 09:45 PM The zero-tariff treatment China had granted for six least-developed African countries officially took effect on Monday. Experts and industry players noted that the move will bolster trade between China and Africa while showing a demonstration effect for China's cooperation with other markets. The Customs Tariff Commission of the State Council, China's cabinet, announced on December 6 that 98 percent of taxable products from Angola, The Gambia, the Democratic Republic of the Congo (DRC), Madagascar, Mali and Mauritania would be exempt from import tariffs starting on Monday. GT 👇 Taliban Announces Completion of Construction of Afghanistan-China Connecting Road Jan 16, 2024, 10:03 GMT Mohammad Ayub Khalid, the Taliban’s governor in Badakhshan, announced that the construction of the Little Pamir Road from Badakhshan to the Chinese border has been completed, officially connecting Afghanistan to China through this province. Khalid added that efforts are underway to initiate the asphalt paving of this road “in the near future”. He made these statements during an interview with the Taliban-controlled Bakhtar news agency. 👇 AFGHANISTAN TURMOIL China to offer Taliban tariff-free trade, inches closer to regime Afghanistan exported $64m worth of goods to China last year, mostly pine nuts October 25, 2024 Nikkei Asia 👇 33 AFRICAN COUNTRIES BENEFIT FROM A HISTORIC TARIFF EXEMPTION BY CHINA SINCE DECEMBER 1, 2024 December 2, 2024 As of December 1, 2024, China has implemented a groundbreaking policy: a full tariff exemption for all product lines from over 40 least-developed countries (LDCs), including 33 African nations. This initiative highlights Beijing’s commitment to supporting the economic development of its partners in Africa while strengthening South-South trade ties. Logistafrica
The plan is to reinvest back into American production and manufacturing. We don't want and cant have a 100% everything made in America but we do want to get back to being competitive. More important thanks to the supplies shortages that happened during COVID, we want manufacturing from our tech, healthcare, along with defense industries to get as close as possible to 100% made in America. It took time to lose our production abilities and it will take time to rebuild and bring our capabilities to be able to fully produce products in America for export or domestic consumption.
Minha experiência com tarifas do governo aqui pagamos %60 dos produtos importado, voce tem certeza que quer isso? Trump prometeu fazer tarifas de %100 sobre pordutos do BRICS voce desja isso , em protecionismo ?
When or which ones? the ones of the first term of Trump in China, the ones that Biden kept? or the ones that the european union wants to keep being that the reason they haven't signed the MERCOSUR agreement?, or the ones that JAPAN puts in their car market to stop other brands to enter?
For what workers? You have a total workforce of 165m people right now. Replacing all the people currently working on goods directly imported into the US would require an (by me) estimated 129m additional workers. You simply dont have the workers for that. Most of which would be low-paying jobs anyways, which nobody would want to do. Dont get me wrong. Targeted tariffs can have exactly the effects you attribute to them. But not broad tariffs on everything. They will just drive up prices. Who on earth wants to shift production into the US, if all they need to import to produce stuff is also affected by tariffs? So then just move the entire production chain into the US, right? First of all.. that's not possible for most products. Secondly, again, you dont have the workforce for that. Not by a factor of 2. Not to mention, the tariffs are not nearly high enough to even force companies back into the country. For comparison, for some / most chinese goods, you'd need a tariff more in the region of 400-1000% to make a difference, and im not kidding. And again.. why move the producton chain INTO the US, when you can simply move it ALL out of the US and only suffer from one final tariff when selling to the US, while having the rest of the world as available customers on top of cheap labor and no tariffs? Yeah.. moving production chains back into the US is literally the dumbest move to make with broad tariffs being implemented, and in reality we already see companies planning on moving out instead. And why wouldnt they. The tariffs will just make it a worse deal for literally everybody, because the moron who intends to implement them has no clue what he is doing.
Except the second is literally impossible, and even if it was not, hiring somebody like Trump for the job, who probably doesnt know what a tariff even is, is a bad approach.
Imposing tariffs on imports will make domestic manufacturing more viable. Will the prices of items in US go up? Most likely. But it will hurt china much more than the US and china needs exports to survive. The ultimate goal for the US is a complete decoupling from china until they are no longer a threat to US's position. and this is just another nail in the coffin.
China manufactures stuff for the entire world tho. Not just for the US. It simply means cheaper goods for all the rest of us. I dont mind buying all the extra goods from china. Why would i? Why do you actively want to harm China in the first place?
Please don't be offended, I only share this with good intentions. I want to start investing, but l'm unsure where to start. Do you have any advice or contacts for assistance?
The countries they impose tariffs on will most likely reciprocate, meaning our trade relationships would shift more to other countries that we have not started trade wars with.
You can always change them back if they backfire, but the threat of them is already working. Argentina has already announced that it will negotiates a “free trade” agreement. Japan’s SoftBank announced a pledge for $100B in investment and 100K American jobs.
What if all the other country stop trading with America...??? Can they really survive on their own...They are doing as they like...as if the world is theirs but i will backfire oneday...
Tariffs are paid by domestic consumers and not the exporting country, but they have the effect of raising the relative prices of imported products. Other trade barriers include quotas, custom duty,licenses, and standardization, all seeking to make foreign goods more expensive or available in a limited supply. In simplest terms, a tariff is a tax. It adds to the cost borne by consumers of imported goods.
No ..he make a mistake, first make sure choice is available, second make sure it can mass production, with match quality,they have to make a good plan... person that sell that goods it looks most of it use similar same goods... probably to avoid this problem was have to make sure ,all players provide choice to customer......it happen because probably they just throw and forget... just opinion... choice must available
Why stop there? I think 100 is a reasonable amount, if the US wants to continue down the path of "oh wait, what do you mean i cant even pay back interrest anymore so now people arent lending me their money anymore to allow me to live above my means?"
It's not complicated. The richest, the ones that owns the banks, big corporations and manufacturing are the worst patriots ever. Their greed is much bigger than their concerns of their country or people. They move directly everything when there is a cheaper alternative were ever it is in the world just to raise their margins and extreme wealth. They are the ones that close down their factories and businesses and made millions of people out of work and many cities empty and poor. Just because they moved their production, manufacturing to other countries and stoped develop and create in their own country. The richest should pay, take away income taxes from 80% of the people, and give the richest 50% taxes on their income. They have to pay for their bad patriotism and destroying the economy
Although I love the video, it intentionally overlooks the benefits of tariffs (probably to push an agenda, I get it) but one example is the tariff on Canada. The primary reason is Canada's growing illegal immigration and lax borders which have tightened up in response to Trump's push for tariffs
@@pierreharbin5415 - The amount of illegals and drugs coming into the US from Canada is negligible at best compared to Mexico. Also what happens when Canada responds with an energy embargo? Who do you think will pay the price then? American taxpayers that's who.
Yeah get a picture what it was,but hopefully they have good plans so mistake long time ago won't happen,.... yeah most capacity X can take it... yeah understood already what the plans was... yeah give us some of it advantage....it must do over alll....if results came just like before it show not over alll...X
If you make stuffs you can sell only in the United States,😂😂 how much for the labor in the United States costs per hour. At least the lowest $15/per hour. They employees make the iPhone in China, they paid only $2.96/per hour. And iPhone costs over $800 up depends on the phone storages. If the iPhone make in USA, i bet you the price will be $2000.00 up. That is why the United States cannot compete with other countries 😂😂😂
Good luck making energy. The US gets 80% of its crude oil and 98% of its natural gas from Canada. When Canada retaliates on Trump's tariffs with an energy embargo who do you think is gonna pay for that? American taxpayers that's who.
Honest question: how? No, really. Your entire workforce is 165m people strong. That's a lot. But it's easy to estimate that there is globally 129m more people working on goods directly imported into the US. You simply dont have the workforce. Not by a long shot. And they would be orders of magnitude more expensive, even if you did. It's a dumb plan.
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Tariffs create an incentive for manufacturers to produce in USA. Toyota is a perfect example. Japanese company that built factories in the US to avoid tariffs.
Yes they can but also lets think about it even if everything went a 100% perfect with tariffs these companies may move some jobs back the US but automate the majority of jobs requiring less labor and more expertise leaving those same manufacturing communities desolate. But new types of job could also be created but this comes at a time Americans are in debt and cant afford higher and higher tariff prices. If I was China, Canada, Mexico etc. I would join forces and slap retaliatory sanctions on the US in concert and swiftly and shock the US economy and put more doubt in the air as the US economy chugs along
Just imagine how much more Americans are going pay for that Made In America cars or Made In American anything. Your cheap Made In China MAGA hat? Not anymore.
I love how scared the world is from a few taxes. Look how china has destroyed the German car industry. We won't allow that to happen in America. When you got this most advanced and biggest military you make all the rules not just some all.
First of all, that's the most arrogantly american thing i've read in a while. Secondly tho.. listen we are not worried about us, we are worried about the US. Those tariffs will cripple your economy, and we, as the countries *lending you money each and every year,* because you live far above your means, like to be paid back our interrest :)
Do you think Trudeau knows what he is doing ? Our leaders in the west are dumb as a duck 🦆. Asian countries will eat us for breakfast. Commenting from Germany
@@JoeHugs-p1i And if he keeps doing that he's going to be booted from office. Canadians already hate America, if the tariffs are put in place that sentiment is going to grow substantially. Who knows, maybe they'll burn down your capital again?
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The most beautiful sentence is: "ditch the dollar"!
Don't do business with the US if don't have USDs😂.Goodluck.
lol, keep dreaming.
😂😂😂.
You just cannot lol
Tariffs is a stealth tax on the buyers
Only MAGA followers in the US think they won't pay 😂😂😂
Not a Trump fan but maybe it will force more Americans to buy US-made goods, which might be good for supporting our own homegrown businesses. Covid and wars have shown us that domestic goods are important to have in our back pocket.
@@kriswright4739 The plan is to reinvest back into American production. We don't want and cant have a 100% everything made in America but we do want to get back to being competitive. More important thanks to the supplies shortages that happened during COVID, we want for our tech, healthcare, along with defense industries to get as close as possible to being truly 100% made in America. It took time to lose our production abilities and it will take time to rebuild and bring our capabilities to be able to fully produce products in America for export or domestic consumption.
@@BLACKIPODS What makes you think American skilled professionals won't just move abroad for jobs
The importing countries usually benefit from a tariff, as they are the ones imposing the tariff and collecting the revenue. Domestic businesses also benefit from tariffs because they make their goods cheaper than imported goods, hence driving up the demand for their products.
Tariffs aside, when China cancelled their orders here in Australia, it hurt a lot of businesses. Livestock and other goods were stuck at ports with nowhere to go. Crayfish dropped in price here due to oversupply.
Courtesy of scott morrison 😂
@babycakes9337 It's could happen to your raw materials like Iron Ore as well.. They have started on a project in Simandou and another internal innovation that will speed up steel production without the need for high grade ore
@@babycakes9337 china is never a free trade it block everything US trying to sell. No google , no facebook, no easy manufacture access, less overseas products are able to enter as its so protectionist. Perhaps this is how the business model took them out of poverty other word from low income to middle income. right now Trump are just defending its economy sovereignty no wonder it will target China pretty much common sense when your product easily enter US but not vice versa. Tariff will go to 100% instead of 60%. This mastermind & advisor bob lighthizer (previous USTR & deputy USTR under Reagan admin) he started with Japan in 80's now with China trust me it will go same path just like old days the Reagan time ended with 100% tariff at the time.
Using teriffs to force companies to manufacture goods in America has another problem not stated. Where will the labor for these new factories come from? US unemployment is very low. Less than 4%.
And since Trump plans to deport 11-13 million workers, that labor pool for the new manufacturing will be very, very scarce. Such that the increase in labor costs will outway the Tariffs Trump intends to charge. So manufacturing will remain in foreign countries, and goods will just cost more for Americans, with no tangible benefits to show for it.
Also, most foreign countries will bring in reciprocal tariffs, making US goods (even) less competitive overseas.
What American that plays on a cellphone, will be happy to work in a factory 😂😂😂
Young people will not do the jobs in the returning factories.😂
@@lacdirkUS is basically sanctioning itself at this point😂
Yes, and add Trump’s plan for Mas deportations to the mix: do you know who does the majority of the gruelling work in slaughter plants and farming and agriculture? Most if not virtually close to all are undocumented workers. So if you thought grocery prices were high now just wait till meat and produce, and most everything else doubles in price due to all these ridiculous measures.
Yes boot the very people that will need to work those factories they want to bring back home
The number of companies in the last trade war, that closed up all their operations in China and moved production back to the USA: ZERO.
What did they do? They moved their productions to other countries not under tariffs, like Vietnam, Thailand, Malaysia, Indonesia, the Philippines.
and none returned their productions to America.
Well obviously the solution is to put tariffs on every country.
@@brandon9172 As Trump planned. Big brain move, really! Haha
You get what you vote for
That would only be true if policicians kept their campaign promises, which is far from guaranteed. Most Obama voters, for example, were very disappointed when he broke most of his campaign promises and did the opposite of what his voters hoped he would do. He even got a nobel peace prize and then went on to involve the country in 7 wars. He promised to close Guantanamo. No joy. Many such examples.
As a business owner the tariffs will not affect me I just need to raise prices on my goods the consumer will pay more it’s call inflation.
😂😂. Or the customers won't buy your stuff and you instantly go out of business. Simple rules of capitalism.
@ me and many other businesses
@@slapkit51 Then, what if those goods are basic necessities like food, water, and clothing? Will you be able to survive without it when all other businesses raise their prices?
@@slapkit51 if its necessity and there isno alternative, they will buy it. the difference is, it opens opportunity for ppl to invest in production capacity locally that will hire ppl and in turn additional wages to these ppl will increase buying power of the local economies.
@@Sonsnhj3682 Not sure you understand how tariffs work. If we already make or produce it in America then it doesn't get raised because it wasn't imported. For example avocados from Mexico get a import tax or tariff. However avocados made in California do not. So now you're buying avocados made in California because they cost less than the ones made in Mexico. Because of this the farmer in California makes more money and pays more taxes. Now look at Canada it has to import everything. They use our ports in California and Baltimore to have products brought in trucked or railed north to Canada. Canada may not like it but it became America redheaded step child because it's a lazy country that didn't invest in its own future. They share a border with the biggest everything so they enjoyed that benefit the last 75 years.
USA: If you can't compete, then you cry or blame China...........What a hypocrisy.
If tariff is imposed according to the plan, it will severely backfire US Economy.
Sure😂😂😂
Countries are looking into end trade with the US dollar. Very bad for the US.
@ This is not bad for the US. This is bad for the countries trying not to use the dollar. In truth, they are not looking into ending trade with the US dollar. These countries are looking for opportunities to use their currencies more. There is a nuance in this message that is lost on most undereducated people who don’t understand the topic. By doing this these countries increase the risk of trade with one another that the dollar fixes.
@chillxxx241 Brics will probably make it's own currency and Macron France into using Yuan with China. Trunp put tariff on french wine last time and it's not forgotten.
@ It doesn’t really matter because the BRICs don’t represent that much in world consumption. They aren’t part of the global network. They sell raw materials to China to produce items for the US and EU. The BRICs countries essentially serve the same as colonies did to European empires in the past, but now they service China. It won’t matter until BRICs countries can build “value added” goods that the Chinese are willing to go into debt to purchase.
Canadian politicians are talking about using an energy embargo.
Start talking about significant price increases in cellphones, tablets. tvs, modems and computers as these items are produced in China and other Eastern countries, and the masses will wake up. Additionally, some items would become overpriced if produced domestically to compensate the US labor market.
if domestic demand is high enough, just like USA, then it opens opportunity for ppl to invest in production capacity locally that will hire ppl and in turn additional wages to these ppl will increase buying power of the local economies.
@stevetenggala2834 With regard to certain products such as electronics, foreign manufacturers have the advantage of geography to necessary raw resources. Secondly, among the American populace (to which I am ), not many young people would be attracted to these manufacturing jobs. Culturally, we are more than three generations away from family members who occupied these jobs on that 40 year- gold watch and pension plan. The genie of globalization (which was always there) is out of the bottle and can't be challenged without adverse consequences.
American corporations will happily move out of America and there's nothing Americans can do when they raise prices.
Tariffs do not bring in money any more than a sales tax does.
But unlike a sales tax, they can bring jobs to US workers.
@eljefeog Not in America's current economic condition. We have a labor shortage as is. And Trump also wants to reduce our labor pool by 11-13 million people. Labor costs will be too high to justify the long-term outlays to build new factories (which could take upto 2 years to build) and then hire to fill them. So instead, things will still be manufactured abroad where, despite the teriffs, labor costs will still be lower, and we will just pay higher costs for goods, with no added benefits.
@@eljefeogjobs 😂. Do u know how long to set up a factory?? And where's the supply line.
@@eljefeog
Americans don’t think, and are obviously not getting that education they need
China will have a record 1 trillion dollar trade surplus with the world for 2024
Even with the tariffs we and other countries have imposed on them these last 7 years
tariffs are just a tax on the American people
Who just went to the election booth complaining about the economy, inflation and increased cost of living…
when the average US household paid an extra 500 dollars per year for those current tariffs.
While the average household will pay 2600 dollars per year if trumps implements his new tariffs
These last few years China has actually invested a few trillion in its Global/ South/Belt and Road partner countries
Helping to build roads, ports, rail lines etc etc etc Increasing these countries ability to export and trade with China
Yet China will see that whopping 1 trillion dollar trade surplus
And will continue to have trade surpluses because they lead the world these days in 57 of 64 critical technologies of the future
What most Americans don’t get is to bring that manufacturing back home
They will need to build the factories, infrastructure like fix up roads, railways, give financial incentives, give tax breaks, educate and retrain the people pay the people those high wages etc etc etc
There was a recent study for America
(well it does state North America but then Canada was a National Security Risk to the USA the last time Trump was in office …. And proposed 25% tariffs this time around )
to be able to manufacture just batteries alone it would cost 580 billion USD to get that up and running in the USA (that’s if China lets America use their tech)
Meaning all that Americans wants to do?!!! Like bring that manufacturing back home
Will cost a lot of money
Which means the American people have to be willing to pony up the cash
Paying more in taxes
Paying more for their goods and services etc etc etc
Yet 2/3rds of Americans waited in line for hours at the election booth recently complaining about the economy, inflation and cost of living increases 🙄🙄🙄
So while America taxes its people raising tariffs….
China lowers taxes on its people, lowering it’s own tariffs
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On 1 July 2018, China slashed the import tariffrates of daily consumer goods involving 1,449 tariff lines. The term ‘daily consumer goods’ covers eight categories of product: food; apparel, footwear and headwear; furniture and houseware; sundry grocery items; cultural, sports and entertainment supplies, home electronics; daily chemical products; and medical and health products.
The average tariff rates of the goods involved have been reduced from 15.7% to 6.9%, a reduction of 55.9%. Among these, the average import tariffs for apparel, footwear, headwear, kitchenware and fitness products have been reduced from 15.9% to 7.1%. For home appliances, such as washing machines and refrigerators, the reduction was from 20.5% to 8.0%. For processed food, the rates were cut from 15.2% to 6.9%. The average tariff rates for detergents, cosmetics, such as skincare and haircare products, and some medicine and health products have fallen from 8.4% to 2.9%. This is the fifth time that China has lowered import tariffs for consumer goods in recent years.
In November 2018, China reduced the import tariffs on 1,585 taxable items, including industrial goods. The average tariff rate for high demand mechanical and electrical equipment, such as construction machinery, instruments and meters, was lowered from 12.2% to 8.8%. For textiles and building materials, the average tariff rate was cut from 11.5% to 8.4%, while that for certain resource goods, such as paper products, as well as primary goods fell from 6.6% to 5.4%.
ResearchHKTDC
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China starts zero-tariff treatment for 6 least-developed African countries
Positive move to continue bolstering bilateral trade, show demonstration effect
8 Aug, 2022
The Customs Tariff Commission of the State Council said last week that it will axe tariffs on 98 per cent of taxable products from “least-developed countries”, including Cambodia, Laos, Djibouti, Rwanda and Togo
SCMP
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By GT staff reporters
Published: Dec 25, 2023 09:45 PM
The zero-tariff treatment China had granted for six least-developed African countries officially took effect on Monday. Experts and industry players noted that the move will bolster trade between China and Africa while showing a demonstration effect for China's cooperation with other markets.
The Customs Tariff Commission of the State Council, China's cabinet, announced on December 6 that 98 percent of taxable products from Angola, The Gambia, the Democratic Republic of the Congo (DRC), Madagascar, Mali and Mauritania would be exempt from import tariffs starting on Monday.
GT
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Taliban Announces Completion of Construction of Afghanistan-China Connecting Road
Jan 16, 2024, 10:03 GMT
Mohammad Ayub Khalid, the Taliban’s governor in Badakhshan, announced that the construction of the Little Pamir Road from Badakhshan to the Chinese border has been completed, officially connecting Afghanistan to China through this province.
Khalid added that efforts are underway to initiate the asphalt paving of this road “in the near future”.
He made these statements during an interview with the Taliban-controlled Bakhtar news agency.
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AFGHANISTAN TURMOIL
China to offer Taliban tariff-free trade, inches closer to regime
Afghanistan exported $64m worth of goods to China last year, mostly pine nuts
October 25, 2024
Nikkei Asia
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33 AFRICAN COUNTRIES BENEFIT FROM A HISTORIC TARIFF EXEMPTION BY CHINA SINCE DECEMBER 1, 2024
December 2, 2024
As of December 1, 2024, China has implemented a groundbreaking policy: a full tariff exemption for all product lines from over 40 least-developed countries (LDCs), including 33 African nations. This initiative highlights Beijing’s commitment to supporting the economic development of its partners in Africa while strengthening South-South trade ties.
Logistafrica
The plan is to reinvest back into American production and manufacturing. We don't want and cant have a 100% everything made in America but we do want to get back to being competitive. More important thanks to the supplies shortages that happened during COVID, we want manufacturing from our tech, healthcare, along with defense industries to get as close as possible to 100% made in America. It took time to lose our production abilities and it will take time to rebuild and bring our capabilities to be able to fully produce products in America for export or domestic consumption.
Minha experiência com tarifas do governo
aqui pagamos %60 dos produtos importado,
voce tem certeza que quer isso?
Trump prometeu fazer tarifas de %100 sobre pordutos do BRICS
voce desja isso , em protecionismo ?
It was tried before DOES NOT WORK.
When or which ones? the ones of the first term of Trump in China, the ones that Biden kept? or the ones that the european union wants to keep being that the reason they haven't signed the MERCOSUR agreement?, or the ones that JAPAN puts in their car market to stop other brands to enter?
Misleading, the main goal here is not to import and build it on your country, make new jobs secure job in the country.
For what workers? You have a total workforce of 165m people right now. Replacing all the people currently working on goods directly imported into the US would require an (by me) estimated 129m additional workers. You simply dont have the workers for that. Most of which would be low-paying jobs anyways, which nobody would want to do. Dont get me wrong. Targeted tariffs can have exactly the effects you attribute to them. But not broad tariffs on everything. They will just drive up prices. Who on earth wants to shift production into the US, if all they need to import to produce stuff is also affected by tariffs? So then just move the entire production chain into the US, right? First of all.. that's not possible for most products. Secondly, again, you dont have the workforce for that. Not by a factor of 2. Not to mention, the tariffs are not nearly high enough to even force companies back into the country. For comparison, for some / most chinese goods, you'd need a tariff more in the region of 400-1000% to make a difference, and im not kidding. And again.. why move the producton chain INTO the US, when you can simply move it ALL out of the US and only suffer from one final tariff when selling to the US, while having the rest of the world as available customers on top of cheap labor and no tariffs? Yeah.. moving production chains back into the US is literally the dumbest move to make with broad tariffs being implemented, and in reality we already see companies planning on moving out instead. And why wouldnt they. The tariffs will just make it a worse deal for literally everybody, because the moron who intends to implement them has no clue what he is doing.
Efficiency vs. Self-sufficiency.
True
Except the second is literally impossible, and even if it was not, hiring somebody like Trump for the job, who probably doesnt know what a tariff even is, is a bad approach.
Imposing tariffs on imports will make domestic manufacturing more viable. Will the prices of items in US go up? Most likely. But it will hurt china much more than the US and china needs exports to survive. The ultimate goal for the US is a complete decoupling from china until they are no longer a threat to US's position. and this is just another nail in the coffin.
China manufactures stuff for the entire world tho. Not just for the US. It simply means cheaper goods for all the rest of us. I dont mind buying all the extra goods from china. Why would i? Why do you actively want to harm China in the first place?
Tsx relief for the rich and tariffs for poor people to raised money.
Please don't be offended, I only share this with good intentions. I want to start investing, but l'm unsure where to start. Do you have any advice or contacts for assistance?
Being manufacturing power house in non competitive world, after ww2 was much more viable than today. Outsourceing is not a bad thing
But how will they reduce or get rid of trade deficit then if they won't restart manufacturing now?
Hold on to your britches America! 🦘☮️
Tariffs are taxes impised on imported goods. It's simple. Can't believe many still don't understand this basic fact.
The countries they impose tariffs on will most likely reciprocate, meaning our trade relationships would shift more to other countries that we have not started trade wars with.
Having to move out of China is also about Taiwan and China wanting it and the US does not want them to have it. Conflict will happen.
Tariffs will bring global markets down and make economy even worse 😢
Tariffs are tax by the government to get more money to spend.
With the cost of energy and infrustratures crumbling in the west i dont think thats gonna work.
You can always change them back if they backfire, but the threat of them is already working. Argentina has already announced that it will negotiates a “free trade” agreement. Japan’s SoftBank announced a pledge for $100B in investment and 100K American jobs.
They're already pro US. Just wait until the Global South and BRICS are involved.
Trump will NOT put tariffs on Mexico or Canada. being a bully does not work, countries will do less trade with US and more trade with the world.
@@chillxxx241 this
This
Trump says to make America great again is wishful thinking
@13:20 She points to an imaginary video but they never embedded it into the YT video, which is odd. Editor dropped the ball.
Here in India we have traffics and congestion
Congratulations
Aah Trump. The gift that keeps on giving.
If Americans were upset about prices under Biden, trump is like hold my beer!
Fear is the enemy of Growth.. And thats what this video is all about
What if all the other country stop trading with America...??? Can they really survive on their own...They are doing as they like...as if the world is theirs but i will backfire oneday...
Never heard of it Tarrifs
Tariffs are paid by domestic consumers and not the exporting country, but they have the effect of raising the relative prices of imported products. Other trade barriers include quotas, custom duty,licenses, and standardization, all seeking to make foreign goods more expensive or available in a limited supply.
In simplest terms, a tariff is a tax. It adds to the cost borne by consumers of imported goods.
XI Jinping: The most beautiful word is SUBSIDY.
Trying to force Americans to go into life long debt in order to buy used vehicles since new vehicles are beyond a living wage
we love tariff 😍
You won’t see the houses in USA with green grass in front anymore. Will be with vegetable gardens and fruit trees. 😂😂😂 I. Same as in Europe
No ..he make a mistake, first make sure choice is available, second make sure it can mass production, with match quality,they have to make a good plan... person that sell that goods it looks most of it use similar same goods... probably to avoid this problem was have to make sure ,all players provide choice to customer......it happen because probably they just throw and forget... just opinion... choice must available
BRICS laughing at the flailing /weak US attempts to save itself from inevitible collapse.
His advisors will go berserk anyway so he cant implement it
Trump learned his economics from the toilet.
Cheap good quality chinese Ev ,games, solar panel coming to me hurrayyy while america inflation will got up 25% next year
Mr Musk - your affected too lol.. bukla!
One more bankruptcy title add to his 6th bankruptcy businesses... good luck
nice...let's increase the National debt to 50 Trillion 😂😂😂
Why stop there? I think 100 is a reasonable amount, if the US wants to continue down the path of "oh wait, what do you mean i cant even pay back interrest anymore so now people arent lending me their money anymore to allow me to live above my means?"
It's not complicated. The richest, the ones that owns the banks, big corporations and manufacturing are the worst patriots ever. Their greed is much bigger than their concerns of their country or people. They move directly everything when there is a cheaper alternative were ever it is in the world just to raise their margins and extreme wealth. They are the ones that close down their factories and businesses and made millions of people out of work and many cities empty and poor. Just because they moved their production, manufacturing to other countries and stoped develop and create in their own country. The richest should pay, take away income taxes from 80% of the people, and give the richest 50% taxes on their income. They have to pay for their bad patriotism and destroying the economy
They hold wealth on Wall Street and overseas banks
DJT is a plain salesman
Although I love the video, it intentionally overlooks the benefits of tariffs (probably to push an agenda, I get it) but one example is the tariff on Canada. The primary reason is Canada's growing illegal immigration and lax borders which have tightened up in response to Trump's push for tariffs
@@pierreharbin5415 - The amount of illegals and drugs coming into the US from Canada is negligible at best compared to Mexico. Also what happens when Canada responds with an energy embargo? Who do you think will pay the price then? American taxpayers that's who.
Tariffs 😂
Hi, im from malaysia and i dont respect Aljazeera.
Lol Trump supporters will cry in the future! I love this 😂😅 make America look poor again
Yeah get a picture what it was,but hopefully they have good plans so mistake long time ago won't happen,.... yeah most capacity X can take it... yeah understood already what the plans was... yeah give us some of it advantage....it must do over alll....if results came just like before it show not over alll...X
Simple solution. Make stuff in the US.
If you make stuffs you can sell only in the United States,😂😂 how much for the labor in the United States costs per hour. At least the lowest $15/per hour. They employees make the iPhone in China, they paid only $2.96/per hour. And iPhone costs over $800 up depends on the phone storages. If the iPhone make in USA, i bet you the price will be $2000.00 up. That is why the United States cannot compete with other countries 😂😂😂
Good luck making energy. The US gets 80% of its crude oil and 98% of its natural gas from Canada. When Canada retaliates on Trump's tariffs with an energy embargo who do you think is gonna pay for that? American taxpayers that's who.
Honest question: how? No, really. Your entire workforce is 165m people strong. That's a lot. But it's easy to estimate that there is globally 129m more people working on goods directly imported into the US. You simply dont have the workforce. Not by a long shot. And they would be orders of magnitude more expensive, even if you did. It's a dumb plan.
Propaganda channel
Al jazoora propaganda whitewashing 😂
☪ Abu Hurairah melaporkan Rasulullah saw bersabda:
Sekiranya seseorang pemilik emas atau perak tidak membayar hutangnya, apabila hari kiamat akan datang, kepingan 🔥akan dipukul untuknya; ini kemudiannya akan dipanaskan dalam 🔥 HeII dan sisinya, dahi dan belakangnya akan dibakar bersamanya. >🌙
Tariffs will push more things to the black market.
Backfire? Like October 6th backfired for Hamas and Iran? 😂
Laugh all you want, whole world vs 2 countries
@ Annnnd you’re “rest of the world” is not winning 🤣
Tariffs create an incentive for manufacturers to produce in USA. Toyota is a perfect example. Japanese company that built factories in the US to avoid tariffs.
Yes they can but also lets think about it even if everything went a 100% perfect with tariffs these companies may move some jobs back the US but automate the majority of jobs requiring less labor and more expertise leaving those same manufacturing communities desolate. But new types of job could also be created but this comes at a time Americans are in debt and cant afford higher and higher tariff prices.
If I was China, Canada, Mexico etc. I would join forces and slap retaliatory sanctions on the US in concert and swiftly and shock the US economy and put more doubt in the air as the US economy chugs along
@ Seems your suggesting tariffs will increase efficiency and productivity also. I agree 👍🏾
Just imagine how much more Americans are going pay for that Made In America cars or Made In American anything. Your cheap Made In China MAGA hat? Not anymore.
I love how scared the world is from a few taxes. Look how china has destroyed the German car industry. We won't allow that to happen in America. When you got this most advanced and biggest military you make all the rules not just some all.
First of all, that's the most arrogantly american thing i've read in a while. Secondly tho.. listen we are not worried about us, we are worried about the US. Those tariffs will cripple your economy, and we, as the countries *lending you money each and every year,* because you live far above your means, like to be paid back our interrest :)
Trump doesn’t have a clue what he’s doing big mouth
Trump doesn’t have a clue what he’s doing big mouth I live in Canada. We will just cut the energy off. See how to get along.
Do you think Trudeau knows what he is doing ? Our leaders in the west are dumb as a duck 🦆. Asian countries will eat us for breakfast. Commenting from Germany
@@JoeHugs-p1i And if he keeps doing that he's going to be booted from office. Canadians already hate America, if the tariffs are put in place that sentiment is going to grow substantially. Who knows, maybe they'll burn down your capital again?
😂Yeah okay buddday. You cuckasses won’t do a thing.
Yeah ok budday. 😂 You’re a meme country run by a drama teacher.
Tariff will make 🇺🇸🇺🇸 great again,,with more homeless 👏 👍 👌