You all are clearly veiled and attached to political party that dislikes Trump. There is no way WSJ with intelligent economists is this backwards on how tariffs work.. he schooled you all and your last week of posts yesterday, you are going to have more intelligent people calling you out and you will lose customers... do not be this naive WSJ editor manager... i can school you all day, kiddo.
Makes no sense that our own steel would cost more. Is it because cheaper steel comes from countries with lax labor laws that violate the civil rights democrats pretend to care so much about?
there should be a president with some kinda microchips and semiconductor act that prioritizes american infrastructure, maybe one opposed to giving our moneh to billionaires and more to the working class bolstering needed industry... ooh wait this other guy has golden sneakerz, forget what i said
I feel extra bad for workers in your industry. I much prefer software over hardware but one of our required CS courses was hardware architecture and the deep dive into how the manufacturing of semiconductors, chips, and more are pretty much one of the most expensive processes in the world and how global trade is a requirement for it was baffling.
Good luck, my friend. We've ASML in the Netherlands and Trump is trying to tariff us 25%. It's not only intertwined. We've control over all your chiptechnology. 7nm is the best the US can do at Intel right now. Nvidia 1000 series. You could be working in Europe soon. Or we give it to China. Either way. Terrible for the US economy.
The man just won like 4 "wars" in 1 week and still picks economists over him. It's apparent the fundamental difference between economists and entrepreneurs. He's Captain Kirk in a world full of Spocks.
@@jasonbaker541there are valid reasons to add tariffs , but the blanket tariffs against Mexico and Canada ….. every economist and knowledgeable trade expert that I have heard , yup you guessed it , thinks it’s counterproductive. But I could be wrong , tell us about those that think it’s a good thing
Ah yes, the ivy league economists making $180,000 a year waxing poetic about how the 3 men worth a combined $300,000,000,000 are getting it wrong. The extra 9 zeros were gained from poor decision making and "yes men" giving them bad advice, surely. 😄
Actually, the three Rs fit into Trump's methodology just fine. He'll pursue revenue on Monday, restriction on Tuesday, reciprocity on Wednesday, and then on Thursday he'll deny any of it ever happened and call it a plot against him. We went through this for four years. It's utterly predictable.
Exactly. He claimed for months that the country would earn so much from the tariffed nations (a lie in itself, of course) that we could eliminate the income tax. Now, we're told tariffs were imposed on Canada and Mexico to pressure them into border/drug protection measures, and withdrawn in a pretense of "success" when they flattered Trump by promising to do what they're already doing. As for "the idiot" who agreed to the existing "unfair" trade agreements between the US and Mexico/Canada, Trump need only look in the mirror. Agreed...four more years of mind-numbing Trump/MAGA stupidity.
Exactly, this was during America’s Gilded Age where rapid expansion was taking place. Yes, there was money and growth but income inequality and indentured servitude was behind the building. The Andrew Carnegie of yesterday is the Jeff Bezos of today.
@@robertjohnson-mt8pzit’s good indeed , but I’ll point you towards the speech by Jeff Daniels on “The Newsroom” re America is the greatest. Some facts for you.
He will be so good, so great, people will say he's the best tear-apart-the-worlder, the best of it alll, so beautiful, so destructive, so amazing, pretty and perfect
It's almost like putting a career failure who tanked a long list of businesses and couldn't turn a profit at a casino in charge of an entire country was a stupid idea...
Please be aware, that the revenue from tariffs is not coming from abroad, it is from the American people! It is in fact a penalty Americans pay to Trump for trying to use goods that were cheaper.
The point is to manufacture locally so people will have jobs, and so their earnings will boost consumption and pay for the increase of cost. Increase of cost means increase revenues for the government.
@@Asim_Khan00 Self reliance is impossible today. Way too many people. No country has the ability to be closed off, unless your will to sacrifice your way of life! See North Korea.
@@Janet1001-Xthis is an intrinsically ignorant and simplistic belief, unless you want to back to an economy like the 1880’s - but truth and facts mean nothing to maga- you know it’s lies YOU LIKE THOSE LIES.
@@mustywalrus7791 - do not underestimate the stupidity of maga - Trump acted like a bullying liar to get himself elected - now he intends to act like fascist bully.
No, actually you have it backwards. Tarrifs were pointless in the 19th century because we did not have a trade deficit. Leverage goes to the buyer not to the seller. Tarrifs today give us leverage over all the foreign countries who are foolish enough to make themselves dependent on American consumers.
Exactly, modern production is only efficient because sourcing materials from wherever we can means there is no worry about running out of supply. Tariffs hurt the supply process and make manufacturing more difficult overall.
It's before the US was a empire. Japan, Germany and Italy had a higher GDP. The US is acting like them. But this isn't the biggest problem for the US. Last time i checked my country the Netherlands applies Moore's law to chips at ASML for the entire US and Taiwanese tech industry. We pull that or start selling to China again there won't be much left of the US economy in 4 years. The modern economy part of the video. This is why the EU isn't worried at all. There's no widespread panic at all here. We can target every single tech bro. Nvidia, we pull ASML from them. Google, we pull ASML from them, Space X, we pull ASML from them. Try to move EUV machines to Space X, we pull all of ASML.
@ YT shadows comment for no reason. Don't try to make sense of it or try to act like it's a conspiracy. I've had the simplest of my comments deleted, while others more controversial ones were completely fine. One time all I said is "okay" and it disappeared immediately.
I can bet you a million yes million that some or the other intern went on chatgpt and searched. "Tell me which US president was the best advocate of Tariffs and his name" and chatgpt replied with Mckenly and they went on with it. Thats the only thing he knows about him. His name. Thats it.
@@livelifetothefullest4386no he didn’t, the title is deceiving. If you watch the video, McKinley used tariffs as Reciprocity, which Trump is mostly using them as now. I’m not a full-scale protectionist and I disagree with his tariffs on China, but I don’t see what is wrong with using tariffs to boost American manufacturing (increases revenue), decrease our reliance on imports (decreases deficits), and as a tool to sell to foreign markets.
Thanks for the information. I am 55 already with not enough set aside for retirement, I’ve always been curious about the market and have seen folks who did well in the market retire early, most say they went in small and grew over time, but I do not have that luxury, I have a good capital but I do not know how or what to do to get good outcome, I am open-minded and would appreciate any helpful advice.
I was once in your position. I started investing late last August,,, with a start of 30k. I made my first 100k USD last month. Today, I have a decent $140K nest egg. Do not give up, the right investments will change your life. I should retire soon as long as things remain this good. My only regret is not starting earlier
Note they didn't do anything in this piece to show the link that can come from tariff and income inequality - by he late 19th C tariffs led america into the Gilded age - super rich oligarchs who BOUGHT American civil society - they owned the banks, the media, the politicians, and levers of regulation - and was one of the greatest periods of income inequality in the US (and the world). America started to wean themselves off Tarriffs as they had saturated their on markets - when America reached for Tariffs again in 1930 with the economic downturn, it crashed the economy and led to the great depression.
That is why he likes the idea. We are all watching Musk implementing that plan for the 6 wealthiest people in the USA. This will not benefit anyone else.
The reason why we stopped by American Made Cars and appliances in the 80s and 90s, was because they were expensive and terribly made. The quality of those products were horrible. Let's not forget that.
This a not the 1890's . Economies are completely different, intertwined and dependant on each other, which has built wealth for many nations. Why Trump thinks they work now is beyond the rational of economists and even the WSJ.
Because every country in the world wants access to our market. Tariffs control who has access to our large market. The current economy is not like the 1930s when we were an exporter country.
That is false, most countries when they FIRST industrialize use protectionism policies, but we are a developed economy, so yes it will negatively affect us.
@@nicolascarrizales6220 And the US had a population of 23 million in 1850. Most were farmers. It was easy to close off your economy. Not so today. What's the point of a centuries old system that's irrelevant today's environment!
At this point hes just manipulating the stock market. He never planned to implement tariffs today. He wanted to announce it and then postpone them just before they appear. Watch him either implement the tariffs in a month and cancel them after or postpone them again.
I think he does it just to manipulate and fire up his base of MAGA its cultists who are dim enough to believe anything. Trump accomplished absolutely nothing with his Tariffs-For-A-Day trick. Canada and Mexico were already doing everything he was asking for in 2023. That's why they were so happy to oblige. But Trump will still use it to claim victory, which the dimmest members of society eat up like Chinese MAGA Bibles and gawdy gold $400 sneakers. But Trump will be around as long as it takes stupid to run it's course - which could actually be awhile.
The $64 dollar question here is ....American industry today. Is the worker of today capable of the success in this economy as in was in McKinley's time ? Bring industry back ? Great ...but who is going to work ? We aren't making products from tin plate anymore. Would expect that $64 was worth a lot more then too.
You got people fighting over packing goods in Amazon warehouses. You've got the work force. The question is, are Americans going to tolerate an increase in prices on already inflated goods while the manufacturers rebuild. Another question is are manufacturers going to move. Everything could change in 4 years and with hundreds of billion of dollars in investment overseas I don't see them jumping ship unless the costs become astronomical
@insiderdtleftright5585 The increase in price is permanent though. Domestic manufacturers aren't going to make cheaper goods for consumers they'll likely price there goods similar to imported goods.
One point everyone misses is, sure domestic manufacturing increases prices in his trade senario. But, that money doesn't necessarily go to profit for the manufacturing company. The money might be spent on expanding the company and hiring employees.😮
@@markkory8059indeed , but without foreign trade the market for that increase in manufacturing is only as large as what can be domestically consumed. Which is why most expanding companies try to export their products at some point. Also good for not have all one’s eggs in one basket eh?
Yeah i dont think the average american will care about this until it starts to affect their lives Like lets say this, theres a tariff on a specific good just think about it, globally it maybe bad but if it the average american doesnt care or that tariff on specific good does not affect them of a fundamental way of their lives/job opportunities. They will not care and in fact if it affects them positively they would want to keep that specific law/tariff that helps them domestically but is frowned upon globally
Trump likes to say that tariffs won't raise prices, but the whole purpose of tariffs is to raise prices, so people won't buy cheap foreign goods, but more expensive American goods that are only cheaper than the foreign goods because of the tariffs. He says that foreign companies will lower their prices, so tariffs won't actually make foreign goods more expensive, which means that the tariffs won't help American companies make more money by being cheaper than the foreign goods. He is actually saying that he is doing it for the tax revenue and not to help American companies increase their sales. On the other hand, tariffs other countries put on American products will mean lost sales for American companies or they will have to lower their prices too to counter-act the tariffs. Either way, they lose money.
He’s doing it for the country’s debt. If the country keeps accumulating debt over the years, our interest payments would exceed almost any other government spending. Once a government gets desperate enough due to interest and debt, they will do anything to get their money…. Print. When the government prints money it hurts mainly the poor, due to cash assets losing value and properties/art/wine (stuff rich people buy) increases in value. What the other party wanted to do was the opposite. Remember a handout to the many only helps the few.
He never said it wouldn't raise prices. Didn't have to read past that to know you're just blowing a lot of hot air. Everyone, Including those who are pro tariff, know it will raise prices
@@Ryan-wx1bi He did say that the prices would not go up because foreign companies would just lower their prices. He has said it many times in the past. Lately, he sometimes says prices might go up a little. He can't make up his mind. I don't know where you get your news from because I have heard him say it many times. He said whatever it took to get people to vote for him. He is not limited by facts.
No, President William McKinley did not abandon his tariff policy. He was a strong proponent of protective tariffs, and his administration continued to support them. As a Congressman, he was responsible for the McKinley Tariff of 1890, which raised duties on imports to protect American industries. Later, as president, he signed the Dingley Tariff of 1897, which further increased tariffs and remained the highest in U.S. history until the 1930s. However, McKinley did shift his focus toward trade expansion in his second term. He began advocating for reciprocity agreements, which allowed for lower tariffs on certain goods in exchange for trade concessions from other countries. This was not an abandonment of protectionism but rather an adjustment to encourage U.S. exports. Why Was McKinley Assassinated? McKinley was assassinated on September 6, 1901, in Buffalo, New York, by Leon Czolgosz, an anarchist who opposed government authority and capitalism. Czolgosz believed that McKinley represented oppression and the growing power of big business. Inspired by anarchist movements and the assassination of King Umberto I of Italy in 1900, he viewed the killing as an act of revolution. Czolgosz shot McKinley twice during a public meet-and-greet at the Pan-American Exposition. The president initially survived, but his condition worsened due to infection, and he died on September 14, 1901. His assassination led to Theodore Roosevelt becoming president and ushering in the Progressive Era, which brought significant reforms in business regulation, labor laws, and foreign policy.
If McKinley had implemented the reciprocity tariffs and potentially destroyed foreign manufacturing with cheaper exports, oppression may well have been the goal, and result. The Chinese have used such a strategy with their dumping (selling products at a loss) of products like solar panels, subsidies having replaced tariffs in terms of government-imposed protectionism.
They framed it a bit more strongly than I thought it was in actuality. What they said McKinley stated in his second term, then read from his writings, seemed to be an exaggerated sentiment and not the denouncement of tariffs that everyone who clicked on the video came hoping to have their intellectual bias confirmed.
My dad, working in a factory, was able to buy his house at 25 and support a family of 5 people. "yeah, yeah" we have to believe the economists who say that we are better than before
That is because the government ignores economists and sensibilities at large in favor of neoliberal policies that work primarily to engross the wealthiest.
"You" as in the US is way better of then before - your country is way richer then when your dad bought that house. The difference is that today the wealth inequality is insane in the US so ordinary people's share of the pie is pittance compared to decades ago. What the US desperately needs is social democratic policies, like Bernie Sanders have been telling you all his life. Until you listen to him you'll just continue being screwed by the rich. But since socialism is "BAAD" in the US and the majority of US citizens don't read or think critically about these (or any) things, that will probably not happen in our lifetimes. You seem more likely to keep going further and further to the right until you abolish democracy and reinstate slavery then look at what the rest of the democratic world does and why it's so much more successful then you in producing more equal societies. (Again, the answer is socialist policies - but you know they're "BAAD", so you'll never listen to anyone telling you this)
It sounds as though McKinley didn't think he was wrong. The protectionism strengthened some industries the point where everyone who wanted tin-plated stuff had it and exports were the way to maintain the industry and you encourage that by lowering the cost of those goods to foreign buyers. It's classic mercantilism. Conditions changed, so the strategy did too. That doesn't mean he was wrong. This video presents the successful side of tariffs, frankly, for the first time I've ever heard it. It sound compelling, if it doesn't trigger worldwide protectionism and catastrophic economic inefficiency. Tariffs cause global depressions has been an axiom. Is it not so cut and dried?
Wasn’t that long ago. The globe laughs at Americas limited perspective. You need to have been playing video games and going on tik tok in order for something to be relevant and all books older than 1999 are old and ineffective.. Please go back to school. American stereotype
These tariffs won’t actually do nearly as much good as it will do bad and it’s just gonna be so sad that most people are gonna struggle even more over the next 4 years to afford basic goods.
Tariffs can help some domestic industries, that is true, but they hurt other industries and the consumer at least as much. They are perfect for protecting inefficient companies and unions.
@ Whats the problem with dumping? Getting overly cheap food may hurt domestic farmers, but it means lower consumer prices. If a foreign economy is effectively willing to spend tax revenue for foreign countries why not profit from a stupid decision?
That is the case for temporary strategic tariffs meant to protect specific industries and allow them to catch up to foreign competitors. Flat % tariffs that Trump is suggesting is just going to cause low supply of goods and higher prices
That's exactly what they do. Look at the auto industry for a perfect example. We've had tariffs there forever (the so-called Chicken Tax) and our cars cost a small fortune. Meanwhile China has affordable electric cars.
They don't help any domestic industries, they just make monopolies worse, who then hike prices, and cut supply chains and as a resul the country's net economy shrinks and prices rise.
The old country song:" Say Mr. MC Kinley why didn't you run when you saw that man coming with an Ivor Johnston gun?" Well, he is probably ignorant about American old time music, too. Maybe a cartoon? 😊
McKinley tariff solved the problem of government having too much money. Today’s government has huge debts. McKinley tariff works when there was no income tax.
Too simplistic. The complexities of current manufacturing means this approach will shoot us in the foot. We can all rejoice as he comes out richer though.
“Our country had more money than it knew what to do with”… Then you added almost 9 Trillion to our deficit!! A record he set that he doesn’t seem to want to brag about. 😡
All the ‘smart money men’ on Wall Street are shocked at the stupidity of Trump’s tariffs. He said he’d do it - he wants to do it , he’s a moron and they said and did nothing.
@ - truth and facts mean nothing in Trump’s America - he lied, defamed, acted like a criminal grifter rapist crook - made it perfectly clear he is a criminal grifting racist crook - and a large part of America wanted that. You know he lies - you like the lies. But don’t lie to me or indeed yourself.
@ - there is no one called ‘CushmanDavis’ - the bots can never get peoples name spelled correctly. Or is it deliberately done? Paid for by some oligarch crook I suppose.
This explains why his day 1 executive order was to rename Denali to Mount McKinley... I just assumed it was to erase the native name. Turned out it was based more on idiotic idolatry.
I thought this when it happened. Renaming was a signal. Not just for the tariff bit, but McKinley was also an expansionist. What's Trump trying to do? Tariff allies and annex countries.
"erase the native name" its name was mount mckinley for a long time. the native name wasn't "erased" even when the official name was Mount Mckinley. I don't get why you're making this into an erasure of native americans, when Trump has had a very pro-native presidency so far (w/ the lumbee tribe)
@@peacewind-aero Tariff countries with huge trade deficits..... Annex places that are crucial for national security, places which are NOT countries, like Greenland, Panama Canal, and Canada which is not a viable country without American defense and economic subsidy.
What I don't understand is that if people want to buy domestically produced products, can’t they just do that? It's not like tarrifs make domestic products any cheaper
Because of the “invisible hand.” No body wants to think of American as a charity, they won’t buy those products when cheaper and in some cases just as capable products are available elsewherez
Bottom Line: He wants to raise taxes on everyone to pay down the debt. Eliminate income taxes which disproportionately impact high earners, and add tariffs which will take a relatively bigger chunk out of those at the lower end.
A small amount of knowledge is a dangerous thing, reading about climbing Mt Everest isn’t the same as climbing it. Reading about McKinley doesn’t mean you can implement his policies……that little knowledge thing in real time 🍊🤡
@@jayc5373 Yeah, i don't get why people don't understand that part. Both the billionaire and the poor person will need to pay 25% on grocery, ect... and they both get a cut of i don't know 4% on income tax.... Who's making money from this move?
yeah, his goal is to completely nerf income tax, cause there's no reason for us to be paying so much in taxes to the government when it could be funded by tariffs. Couple this with a significantly smaller government where we're not wasting so much money on useless stuff, and the combination will give us an incredibly wealthy nation as a result now, if we can just get rid of the stupid tax amendment and the "US Federal Reserve Bank" (which is none of those btw, lol), then we can just utilize the treasury for it's intended purpose.
@ - lol, if you think the US government could be funded by tariffs then you should probably sit this discussion out. Stick to watching Joe Rogan. He is more your speed.
While I liked the insight and history of McKinley's presidency and tariff policy, this video omits that the America that President Trump resides over is not even remotely the same type of economy as it was back then. And the video skips the nuances of the differences between how his policies would actually impact the three R's (Revenue, Restriction/Protectionism, and Reciprocity) versus how McKinley used them in the 19th century. Also the government revenue chart is misleading, because both Income Tax and Tariffs primarily are paid by Americans, not foreigners. And it just affects Americans at different rates. Income Tax is more progressive (affecting wealthier people more (allegedly), whereas Tariffs are more regressive (affecting poorer people more).
Global manufacturing wasn't as specialized or technical as it is today. Moving a wool mill or tin smelting is very different than moving auto or computer chip or even labor-intensive tasks like clothing that favor low wage countries. You improve domestic manufacturing through investment, building modern automated factors that require little or no labor inputs and thus can compete with the global price against the developing nations. Tariffs doesn't create this investment, tax breaks or even stimulus does.
"Tariffs doesn't create this investment, tax breaks or even stimulus does." Should we tolerate the EU continuing to put a 10% tariff on American cars? If other countries want free trade with us, they should stop putting tariffs on our exports.
@@dafunkmonster How'd that work work out for America's closest alias? Threatened by the guy wok signed the USMCA and said it was the greatest deal ever. Now complaining about the idiot who negotiated it. Who was that? Hmmm.🤣🤣🤣🤣
You mean like the auto manufacturing plant (largest in the world) that China was building in Mexico so they could send cars tariff free into America? When Trump introduced the prospect of these tariffs, China halted construction. We wouldn't have an auto manufacturing industry if Trump hadn't done that.
@@joroll26 The previous administration passed an "Inflation Expansion Act" and called it the "Inflation Reduction Act". Those kind of shenanigans do not help our country. And people like you extolled their idiocy as greatness.
it's crazy to me that at one point the US had TOO much surplus and had to REDUCE the revenue. That's insane haha. Can you imagine a modern day President saying that the budget surplus is too much? lol shoutout to Benjamin Harrison, Grover Cleveland and William McKinley those guys were in charge of a protectionist but prosperous US at the time
Income inequality was rampant, which lends that period its name: the Gilded Age. Additionally, Grover Cleveland was a proponent of free trade, not a protectionist.
The tarriff plan will evidently lead to high inflation, the high inflation is a significant reason why most retirees have sleepless nights. The increase in prices of everyday items puts them at risk of running out of money. As prices rise, the amount of money retirees can withdraw from their retirement savings also increases.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
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Ok, WSJ, some of us(including you) may hate Trump's Tariffs... but the reality is Mckinley never abandoned tariffs, he just adopted reciprocity agreements in his second term - which is what Trump is doing. Mckinley allowed for reduced tariffs on certain goods in exchange for trade concessions from other countries. However, this was not an abandonment of tariffs but an adjustment to improve trade relations while maintaining protectionism. He sadly got assassinated in 1901. Let's not twist history.
Word it however you want, but the fact remains that he had to abandon a few of the functionary aspects of his tariffs, meaning he back-tracked and I am pretty sure that guy didn't sell 'Made in China' Bibles. Global supply is so globalised now that it is impossible for this to be a long term solution. Prices are going to skyrocket soon.........
Tariffs will increase costs of finished goods and components used throughout US manufacturing. This will be an immediate and huge hike in inflation. To fight inflation the Fed will have to hike interest rates which will be wonderful for the billionaires but possibly take away the middle class. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun..
the high inflation is a significant reason why most retirees like myself have sleepless nights. The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
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It's ironic that the 1 policy Trump has been the most consistent on even decades before he became a politician is believing that tariffs are always good for U.S. businesses. Then again, he failed/bankrupted multiple businesses before becoming a politician, so it's not too surprising he stands by enacting tariffs regardless of what economists say. Tariffs can work effectively if used sparingly/selectively, but when you put broad tariffs on all goods from a specific or even multiple countries it makes foreign made goods more expensive, as well as U.S. made goods that include foreign produced parts.
trump's goal is to bring the USA back to being isolationism, not to have an endgame goal, if we become isolationists again in 2025, we'll fall as an empire
This is a great summation of everyone’s thoughts on tariffs. Sounds great in practice and then eventually you realize it’s not worth it and kind of dumb. 😂 I posted something on this exact thing and the rest of trump’s economic policies.
Funny because last video you were talking about how it would bankrupt America and now they have all bent the knee, I don’t think you are as smart as you think you are. Must be BLM’s best and brightest huh?
As an European in a true developed country - not like America, I’m very happy Trump won. We needed the international laughing stock back to entertain us. It started very well during the elections with “they are eating the dogs”. 😂 Thanks America for this gift to the world.
This German doesn't agree. Since we haven't done our homework on defence yet, we still need our big brother on the other side of the pond. ..though regarding economics, the Trump presidency might be useful, as the US economy (the economy itself, not the personal economic situation of the common American) was just getting too successful under the Democrats for us to compete.
@@damianm-nordhorn116 Americans think that German cars are popular over here but American cars are not popular in Germany because the Germans are better at making vehicles. But it's because the EU puts a lopsided tariff on American cars, which makes them uncompetitive in Europe.
As someone living in the Netherlands and striving to observe global economic policies as objectively as possible, I recognize that economic situations vary over time and across regions, requiring different strategies. A policy that works in one era may be counterproductive in another. Looking at the U.S. today, it’s clear that something has to change. The country has an enormous GDP but is also drowning in debt, and a significant portion of its industries have been outsourced. The economic reality demands a radical shift-perhaps not the most popular choice, but one that prioritizes long-term stability for the American people. Tariffs may be the best available tool to achieve this. History shows that tariffs have played a crucial role in shaping economic power. Around 1900, the U.S. implemented high tariffs that forced European exporters to pay more for market access. The effect was twofold: it protected American industries while making European goods more expensive. Now, over a century later, the world may witness a similar scenario. If the U.S. moves aggressively on tariffs again, Europe will undoubtedly feel the impact-higher costs, restricted access to the American market, and possible retaliatory measures. Some industries in the U.S. will suffer in the short term, just as they did in previous protectionist periods. Agriculture, for example, could be hit hard by retaliatory tariffs from other nations. The automotive sector, which depends on foreign parts, will likely see increased costs. But history suggests that protective measures can also lead to long-term gains-revitalizing domestic industries, reducing economic dependence on foreign competitors, and giving the U.S. more leverage in trade negotiations. The global economy is deeply interconnected, and any major shift in U.S. policy will have ripple effects worldwide. But from a purely American perspective, tariffs seem like a necessary response to decades of offshoring and mounting debt. While not universally popular, they may be the right choice for securing economic resilience in the long run.
Trump pauses tariffs on Mexico, Canada for a month, but his threats spooked almost everyone: on.wsj.com/40NbqLQ
You all are clearly veiled and attached to political party that dislikes Trump. There is no way WSJ with intelligent economists is this backwards on how tariffs work.. he schooled you all and your last week of posts yesterday, you are going to have more intelligent people calling you out and you will lose customers... do not be this naive WSJ editor manager... i can school you all day, kiddo.
@@dertythegrower did you go to trump u ---- $27 million for fraud ?
great spelling LOL
Everybody dislikes trump, except right wing red hats!
@@JaminWhite That's all you can say. Go read a book .
Tariffs on steel in his first term:
- created 1000 jobs in steel
- destroyed 75000 jobs in automotive - because of expensive steel
That's great math according to the maga folks out there, they think it's fantastic 😂
And it helped build Trump's border wall 🧱
Makes no sense that our own steel would cost more. Is it because cheaper steel comes from countries with lax labor laws that violate the civil rights democrats pretend to care so much about?
@@DontWalkRunProductthe patchy fence*
There, fixed it for you.
@@sturner973trump wouldn’t hire them, but will take their votes and money.
I’m a US semiconductor worker. Our company is so globally intertwined it’s insane. It’s been that way for long long long time.
there should be a president with some kinda microchips and semiconductor act that prioritizes american infrastructure, maybe one opposed to giving our moneh to billionaires and more to the working class bolstering needed industry... ooh wait this other guy has golden sneakerz, forget what i said
I feel extra bad for workers in your industry. I much prefer software over hardware but one of our required CS courses was hardware architecture and the deep dive into how the manufacturing of semiconductors, chips, and more are pretty much one of the most expensive processes in the world and how global trade is a requirement for it was baffling.
Tesla is vertically integrated for a reason.
@@alexv6068dont say that too loud!! Youll be called a communist in the us
Good luck, my friend. We've ASML in the Netherlands and Trump is trying to tariff us 25%. It's not only intertwined. We've control over all your chiptechnology. 7nm is the best the US can do at Intel right now. Nvidia 1000 series. You could be working in Europe soon. Or we give it to China. Either way. Terrible for the US economy.
Protectionism needs an industry to protect. Without an industry to protect, Trump's tariffs just interrupted the supply chain for no purpose.
Exactly. Like he did in 2018-2020 with his trade war with China that was a complete failure…
the industry is name Elon Musk
@@jag61688 Clueless. Trump is cancelling the EV mandate which is of a hindrance to Musk, not a benefit.
@@SiLoMixMaster benefits Musk, he said it himself. Because it benefits other EV makers.
The man just won like 4 "wars" in 1 week and still picks economists over him.
It's apparent the fundamental difference between economists and entrepreneurs.
He's Captain Kirk in a world full of Spocks.
I trust economists over Trump. If economists are saying tariffs are bad at the end, I will take it.
Are you saying there are no economists that are saying tariffs are good?
@@jasonbaker541 Not smart ones!
@@jasonbaker541 none that are Americans.
@@jasonbaker541there are valid reasons to add tariffs , but the blanket tariffs against Mexico and Canada ….. every economist and knowledgeable trade expert that I have heard , yup you guessed it , thinks it’s counterproductive. But I could be wrong , tell us about those that think it’s a good thing
Ah yes, the ivy league economists making $180,000 a year waxing poetic about how the 3 men worth a combined $300,000,000,000 are getting it wrong. The extra 9 zeros were gained from poor decision making and "yes men" giving them bad advice, surely. 😄
Did McKiinley .... sell made in china bibles ?
Beautiful bibles, the best bibles?
@@Rimrock300 everyone is saying this -- believe me !
...and ties.
And MAGA hats.
Salesman in 1969
Actually, the three Rs fit into Trump's methodology just fine. He'll pursue revenue on Monday, restriction on Tuesday, reciprocity on Wednesday, and then on Thursday he'll deny any of it ever happened and call it a plot against him. We went through this for four years. It's utterly predictable.
Exactly. He claimed for months that the country would earn so much from the tariffed nations (a lie in itself, of course) that we could eliminate the income tax. Now, we're told tariffs were imposed on Canada and Mexico to pressure them into border/drug protection measures, and withdrawn in a pretense of "success" when they flattered Trump by promising to do what they're already doing. As for "the idiot" who agreed to the existing "unfair" trade agreements between the US and Mexico/Canada, Trump need only look in the mirror. Agreed...four more years of mind-numbing Trump/MAGA stupidity.
What about Revenge? Thats his jam
who negotiated the terrible trade deals? Trump in his first term which should have been his last.
This is why Musk needs to purge the so-called experts out of the federal govt. We can't have people like historians bringing up facts.
Don’t say that - maga will read the first line and say that’s true!
LOL.
@@lonevoice9838 Trump was the expert that raised the debt by 8Trillions in his first term. Is he next in line?
We need you in the government!
Comment of the day goes to^. And some Trumpers would reads this and think… “YEA!”
Vast wealth for the rich not the common man
Exactly, this was during America’s Gilded Age where rapid expansion was taking place. Yes, there was money and growth but income inequality and indentured servitude was behind the building. The Andrew Carnegie of yesterday is the Jeff Bezos of today.
Can somebody call the white house and let them know its 2025 and not 1896. Please & thx
They still haven't fixed the Y2K bug yet. 😂😂
We have a Constitution over 2 centuries old and it is still the best in the world.
@@robertjohnson-mt8pz We also had to fix the constitution a bunch of times to AMEND portions of it for being stupid or outdated.
@@robertjohnson-mt8pzit’s good indeed , but I’ll point you towards the speech by Jeff Daniels on “The Newsroom” re America is the greatest. Some facts for you.
No phones in 1896 but if someone could send this please:
.. -- .--. . .- -.-. ....
It's actually shocking even now, how shallow Donald Trump's understanding of economics and history is.
I'm not shocked any nore
This man is going to tear apart the world
Unfortunately yes
He will be so good, so great, people will say he's the best tear-apart-the-worlder, the best of it alll, so beautiful, so destructive, so amazing, pretty and perfect
It's almost like putting a career failure who tanked a long list of businesses and couldn't turn a profit at a casino in charge of an entire country was a stupid idea...
he hasn't already ?
Well, I doubt of that. But he will tear apart the US for sure.
Please be aware, that the revenue from tariffs is not coming from abroad, it is from the American people! It is in fact a penalty Americans pay to Trump for trying to use goods that were cheaper.
The point is to manufacture locally so people will have jobs, and so their earnings will boost consumption and pay for the increase of cost. Increase of cost means increase revenues for the government.
not to mention - self reliance. it's something that is priceless in case you are at war.
@@Asim_Khan00 Self reliance is impossible today. Way too many people. No country has the ability to be closed off, unless your will to sacrifice your way of life! See North Korea.
@@Janet1001-Xthis is an intrinsically ignorant and simplistic belief, unless you want to back to an economy like the 1880’s - but truth and facts mean nothing to maga- you know it’s lies YOU LIKE THOSE LIES.
@@mustywalrus7791 - do not underestimate the stupidity of maga - Trump acted like a bullying liar to get himself elected - now he intends to act like fascist bully.
Tariffs worked 200 yrs ago when USAs economy was way smaller... High Tariffs doesn't work now
So why are Canada and Mexico cooperating with orange man’s demands?
No, actually you have it backwards. Tarrifs were pointless in the 19th century because we did not have a trade deficit.
Leverage goes to the buyer not to the seller.
Tarrifs today give us leverage over all the foreign countries who are foolish enough to make themselves dependent on American consumers.
Exactly, modern production is only efficient because sourcing materials from wherever we can means there is no worry about running out of supply. Tariffs hurt the supply process and make manufacturing more difficult overall.
It's before the US was a empire. Japan, Germany and Italy had a higher GDP. The US is acting like them.
But this isn't the biggest problem for the US. Last time i checked my country the Netherlands applies Moore's law to chips at ASML for the entire US and Taiwanese tech industry. We pull that or start selling to China again there won't be much left of the US economy in 4 years. The modern economy part of the video. This is why the EU isn't worried at all. There's no widespread panic at all here. We can target every single tech bro. Nvidia, we pull ASML from them. Google, we pull ASML from them, Space X, we pull ASML from them. Try to move EUV machines to Space X, we pull all of ASML.
@@Joey-ct8bm Biden's chip act should be kicking in by 4 yrs time... wouldn't domestic chip production save them?
Tariffs can’t fund our economy because our country doesn’t look like red dead redemption anymore
I always wondered which era MAGA meant….
Message!
@ YT shadows comment for no reason. Don't try to make sense of it or try to act like it's a conspiracy.
I've had the simplest of my comments deleted, while others more controversial ones were completely fine. One time all I said is "okay" and it disappeared immediately.
Exactly, i am shocked to know they want the US to go a protectionism era a century ago!
I can bet you a million yes million that some or the other intern went on chatgpt and searched. "Tell me which US president was the best advocate of Tariffs and his name" and chatgpt replied with Mckenly and they went on with it. Thats the only thing he knows about him. His name. Thats it.
McKinley abandoned his own tariffs policies on the second term was he not??
Agree, very busy ppl, they dont have time for through, deep analysis. Chatgpt is the best tool to help out.
Yeah, which is why he's been quoting him and has talked about McKinley's history since 2018
@@livelifetothefullest4386no he didn’t, the title is deceiving. If you watch the video, McKinley used tariffs as Reciprocity, which Trump is mostly using them as now. I’m not a full-scale protectionist and I disagree with his tariffs on China, but I don’t see what is wrong with using tariffs to boost American manufacturing (increases revenue), decrease our reliance on imports (decreases deficits), and as a tool to sell to foreign markets.
@@azeturkmenyeah imagine something like "The Wall Street Journal" doing actual journalism 🙄
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How did you achieve that much?
I looked from a different perspective and got my answers. You need a CFA to manage your assets while diversifying at the same time.
Can you recommend?
I would say so far this CFA changed the game for me and has been very smooth since then, Sandra Sue Sailer.
Note they didn't do anything in this piece to show the link that can come from tariff and income inequality - by he late 19th C tariffs led america into the Gilded age - super rich oligarchs who BOUGHT American civil society - they owned the banks, the media, the politicians, and levers of regulation - and was one of the greatest periods of income inequality in the US (and the world). America started to wean themselves off Tarriffs as they had saturated their on markets - when America reached for Tariffs again in 1930 with the economic downturn, it crashed the economy and led to the great depression.
Thanks....I knew there was something missing there.
You missed the other recessioins like in 1890 something. The rich did OK but your average American could not afford food.
That is why he likes the idea. We are all watching Musk implementing that plan for the 6 wealthiest people in the USA. This will not benefit anyone else.
The reason why we stopped by American Made Cars and appliances in the 80s and 90s, was because they were expensive and terribly made. The quality of those products were horrible. Let's not forget that.
This a not the 1890's . Economies are completely different, intertwined and dependant on each other, which has built wealth for many nations. Why Trump thinks they work now is beyond the rational of economists and even the WSJ.
Because every country in the world wants access to our market. Tariffs control who has access to our large market. The current economy is not like the 1930s when we were an exporter country.
@@CushmanDavis-z4b You don't understand how tariffs work. Tariffs are taxes on imports paid by american companies.
Fascinating segment! Difficult to conceive of a universe where a surplus was a problem. Might have to pick up that guy's book. Good work WSJ!
No country has achieved significant economic development through protectionism policies.
That is false, most countries when they FIRST industrialize use protectionism policies, but we are a developed economy, so yes it will negatively affect us.
@@nicolascarrizales6220 And the US had a population of 23 million in 1850. Most were farmers. It was easy to close off your economy. Not so today. What's the point of a centuries old system that's irrelevant today's environment!
No, but Trump seems to be very fascinated of North Korea 😎
It doesn’t matter if you’re planning to conquer those countries you get needed products from.
Trump will save America
At this point hes just manipulating the stock market. He never planned to implement tariffs today. He wanted to announce it and then postpone them just before they appear. Watch him either implement the tariffs in a month and cancel them after or postpone them again.
Ccpbot script.
Okayyy we'll see about that when one country decides they want the tariffs
I think he does it just to manipulate and fire up his base of MAGA its cultists who are dim enough to believe anything. Trump accomplished absolutely nothing with his Tariffs-For-A-Day trick. Canada and Mexico were already doing everything he was asking for in 2023. That's why they were so happy to oblige. But Trump will still use it to claim victory, which the dimmest members of society eat up like Chinese MAGA Bibles and gawdy gold $400 sneakers. But Trump will be around as long as it takes stupid to run it's course - which could actually be awhile.
Did you miss the part where both Canada and Mexico basically surrendered within hours of the tariffs going into effect?
@@dafunkmonster Trump winning by imposing what was already in motion XD orange bro is cooked
The $64 dollar question here is ....American industry today. Is the worker of today capable of the success in this economy as in was in McKinley's time ? Bring industry back ? Great ...but who is going to work ? We aren't making products from tin plate anymore. Would expect that $64 was worth a lot more then too.
You got people fighting over packing goods in Amazon warehouses. You've got the work force. The question is, are Americans going to tolerate an increase in prices on already inflated goods while the manufacturers rebuild.
Another question is are manufacturers going to move. Everything could change in 4 years and with hundreds of billion of dollars in investment overseas I don't see them jumping ship unless the costs become astronomical
@insiderdtleftright5585 The increase in price is permanent though. Domestic manufacturers aren't going to make cheaper goods for consumers they'll likely price there goods similar to imported goods.
One point everyone misses is, sure domestic manufacturing increases prices in his trade senario. But, that money doesn't necessarily go to profit for the manufacturing company. The money might be spent on expanding the company and hiring employees.😮
@@markkory8059indeed , but without foreign trade the market for that increase in manufacturing is only as large as what can be domestically consumed. Which is why most expanding companies try to export their products at some point. Also good for not have all one’s eggs in one basket eh?
$ 10,000 iphone?
This WILL HURT the American people / our economy
Yeah i dont think the average american will care about this until it starts to affect their lives
Like lets say this, theres a tariff on a specific good just think about it, globally it maybe bad but if it the average american doesnt care or that tariff on specific good does not affect them of a fundamental way of their lives/job opportunities.
They will not care and in fact if it affects them positively they would want to keep that specific law/tariff that helps them domestically but is frowned upon globally
Votes have consequences and this idiot tax will demonstrate that.
Trump likes to say that tariffs won't raise prices, but the whole purpose of tariffs is to raise prices, so people won't buy cheap foreign goods, but more expensive American goods that are only cheaper than the foreign goods because of the tariffs. He says that foreign companies will lower their prices, so tariffs won't actually make foreign goods more expensive, which means that the tariffs won't help American companies make more money by being cheaper than the foreign goods. He is actually saying that he is doing it for the tax revenue and not to help American companies increase their sales.
On the other hand, tariffs other countries put on American products will mean lost sales for American companies or they will have to lower their prices too to counter-act the tariffs. Either way, they lose money.
He’s doing it for the country’s debt. If the country keeps accumulating debt over the years, our interest payments would exceed almost any other government spending. Once a government gets desperate enough due to interest and debt, they will do anything to get their money…. Print. When the government prints money it hurts mainly the poor, due to cash assets losing value and properties/art/wine (stuff rich people buy) increases in value. What the other party wanted to do was the opposite. Remember a handout to the many only helps the few.
He never said it wouldn't raise prices. Didn't have to read past that to know you're just blowing a lot of hot air. Everyone, Including those who are pro tariff, know it will raise prices
@@Ryan-wx1bi He did say that the prices would not go up because foreign companies would just lower their prices. He has said it many times in the past. Lately, he sometimes says prices might go up a little. He can't make up his mind. I don't know where you get your news from because I have heard him say it many times. He said whatever it took to get people to vote for him. He is not limited by facts.
When the Wall Street calls out Trump's tariffs as "The dumbest trade war in history" I would listen to them rather than Trump's lies.
This just proves why you lost and will keep going on it.
Trumps tariffs have successfully caused 4 of 5 nations to cave to Trumps demands. Is the Left truly this dense?
@@Censortubes No, Trump won because he lied about who really pays the tariffs. And the poorly educated believed him.
Wall Street also said that the residential real estate market was amazing in 2007
@@CushmanDavis-z4b It was, though. Until it wasn't. But lots of people made money in that market. Depends how you look at it.
It’s bad when the Wall Street journal criticizes the republican president, they endorsed.
A good way to know the character of a president is to research the president he most admires. McKinley was one of the worst
No, President William McKinley did not abandon his tariff policy. He was a strong proponent of protective tariffs, and his administration continued to support them. As a Congressman, he was responsible for the McKinley Tariff of 1890, which raised duties on imports to protect American industries. Later, as president, he signed the Dingley Tariff of 1897, which further increased tariffs and remained the highest in U.S. history until the 1930s.
However, McKinley did shift his focus toward trade expansion in his second term. He began advocating for reciprocity agreements, which allowed for lower tariffs on certain goods in exchange for trade concessions from other countries. This was not an abandonment of protectionism but rather an adjustment to encourage U.S. exports.
Why Was McKinley Assassinated?
McKinley was assassinated on September 6, 1901, in Buffalo, New York, by Leon Czolgosz, an anarchist who opposed government authority and capitalism. Czolgosz believed that McKinley represented oppression and the growing power of big business. Inspired by anarchist movements and the assassination of King Umberto I of Italy in 1900, he viewed the killing as an act of revolution.
Czolgosz shot McKinley twice during a public meet-and-greet at the Pan-American Exposition. The president initially survived, but his condition worsened due to infection, and he died on September 14, 1901. His assassination led to Theodore Roosevelt becoming president and ushering in the Progressive Era, which brought significant reforms in business regulation, labor laws, and foreign policy.
If McKinley had implemented the reciprocity tariffs and potentially destroyed foreign manufacturing with cheaper exports, oppression may well have been the goal, and result. The Chinese have used such a strategy with their dumping (selling products at a loss) of products like solar panels, subsidies having replaced tariffs in terms of government-imposed protectionism.
They framed it a bit more strongly than I thought it was in actuality. What they said McKinley stated in his second term, then read from his writings, seemed to be an exaggerated sentiment and not the denouncement of tariffs that everyone who clicked on the video came hoping to have their intellectual bias confirmed.
Tariffs are a very regressive form of taxation
Running the government like a business shouldn’t be the goal. The government is for the benefit of the people and to provide services
Well they clearly don't do that. They send billions overseas, while those in LA and North Carolina get pennies.
Tell Musk that as he tears down and closes departments. Next on the block is Education for the average American family.
Millions of us pray that his presidency mirrors McKinley’s.
Maybe they could move the Olympics to Buffalo...
Lol! Yes, please, please. 🤞
My dad, working in a factory, was able to buy his house at 25 and support a family of 5 people. "yeah, yeah" we have to believe the economists who say that we are better than before
Maybe you should've just climbed the ladder better. Capitalism is a game on all levels; you just lost on your level:)
That is because the government ignores economists and sensibilities at large in favor of neoliberal policies that work primarily to engross the wealthiest.
"You" as in the US is way better of then before - your country is way richer then when your dad bought that house.
The difference is that today the wealth inequality is insane in the US so ordinary people's share of the pie is pittance compared to decades ago.
What the US desperately needs is social democratic policies, like Bernie Sanders have been telling you all his life.
Until you listen to him you'll just continue being screwed by the rich.
But since socialism is "BAAD" in the US and the majority of US citizens don't read or think critically about these (or any) things, that will probably not happen in our lifetimes.
You seem more likely to keep going further and further to the right until you abolish democracy and reinstate slavery then look at what the rest of the democratic world does and why it's so much more successful then you in producing more equal societies.
(Again, the answer is socialist policies - but you know they're "BAAD", so you'll never listen to anyone telling you this)
Very well explained . Good job giving the pros and cons of all options
Thanks WSJ for exposing the weaknesses.
At least McKinley had the smarts to realise when he was wrong.
This guy? Keep dreaming.
It sounds as though McKinley didn't think he was wrong. The protectionism strengthened some industries the point where everyone who wanted tin-plated stuff had it and exports were the way to maintain the industry and you encourage that by lowering the cost of those goods to foreign buyers. It's classic mercantilism. Conditions changed, so the strategy did too. That doesn't mean he was wrong. This video presents the successful side of tariffs, frankly, for the first time I've ever heard it. It sound compelling, if it doesn't trigger worldwide protectionism and catastrophic economic inefficiency. Tariffs cause global depressions has been an axiom. Is it not so cut and dried?
😅 21st century president is trying to copy the idea of a 19th century leader! I see.
He's only a couple of centuries behind on a good day!
Our declaration of independence was drawn up over 2 centuries ago.
@@robertjohnson-mt8pzAnd? I mean the Magna Carta is over eight centuries old.
Wasn’t that long ago. The globe laughs at Americas limited perspective. You need to have been playing video games and going on tik tok in order for something to be relevant and all books older than 1999 are old and ineffective.. Please go back to school. American stereotype
21st century President pulling the stock market manipulation insider trading scam of the 3rd millennium.🤗🤑😎👹
Just wanted to say I was expecting a bias report. Amazing end up knowledge-based fair reporting. I'll continue to watch thanks for the cool content
These tariffs won’t actually do nearly as much good as it will do bad and it’s just gonna be so sad that most people are gonna struggle even more over the next 4 years to afford basic goods.
Remember.Once prices go up, they never come back down.
Any excuse to raise prices
But never a reason to lower prices
Ironically, prices didn’t go up under Trumps first term, but Biden’s second they blew up
McKinley put tariffs on pots and pannes. Not on computers with complex supply chains
Correct.
It's not about the tariff. It's about the payoff to DT, to avoid the tariff.
Trump is the Dunning-Kruger Effect personified
From now on it's "Donny-Kruger syndrome" 😂
In simpler terms delusional
But boosted 10X.
Is this the WatchMojo lady?
AI dude
No it’s not
@RK-be8pn she's been making these videos before AI. Not everything is AI kid
Yes😊😊😊
Yes😊😊😊
Tariffs can help some domestic industries, that is true, but they hurt other industries and the consumer at least as much. They are perfect for protecting inefficient companies and unions.
They are perfect to prevent "dumping".
@ Whats the problem with dumping? Getting overly cheap food may hurt domestic farmers, but it means lower consumer prices. If a foreign economy is effectively willing to spend tax revenue for foreign countries why not profit from a stupid decision?
That is the case for temporary strategic tariffs meant to protect specific industries and allow them to catch up to foreign competitors. Flat % tariffs that Trump is suggesting is just going to cause low supply of goods and higher prices
That's exactly what they do. Look at the auto industry for a perfect example. We've had tariffs there forever (the so-called Chicken Tax) and our cars cost a small fortune. Meanwhile China has affordable electric cars.
They don't help any domestic industries, they just make monopolies worse, who then hike prices, and cut supply chains and as a resul the country's net economy shrinks and prices rise.
Lessons from India 🇮🇳. My country was a protectionist country in 50s to 90s. We became the poorest country in world. Only liberation saved us.
Wow! Trump says William McKinley as often as he said Hanable Lector
Like Biden telling the story of how his uncle was eaten by cannibals?
If Trump doesn't read; who is telling him about President McKinley?
Saw it on the tv ? At a guess
There is this guy, snake eyed, bold at youg age with smirks smile,,, you know who I mean,,,
The old country song:" Say Mr. MC Kinley why didn't you
run when you saw that man
coming with an Ivor Johnston
gun?" Well, he is probably
ignorant about American old
time music, too. Maybe a
cartoon? 😊
Maybe McKinley showed up on Hannity one night.
President Musk told him
This was fun, funny and informative to watch. Reminds me of Vox.
The narrator speaking to us like we’re 4 years old is the cherry on top
McKinley tariff solved the problem of government having too much money. Today’s government has huge debts. McKinley tariff works when there was no income tax.
Trump strong man attitude is going to bankrupt this country faster than he bankrupted a casino.
Too simplistic. The complexities of current manufacturing means this approach will shoot us in the foot. We can all rejoice as he comes out richer though.
“Our country had more money than it knew what to do with”… Then you added almost 9 Trillion to our deficit!! A record he set that he doesn’t seem to want to brag about. 😡
All the ‘smart money men’ on Wall Street are shocked at the stupidity of Trump’s tariffs. He said he’d do it - he wants to do it , he’s a moron and they said and did nothing.
What's your IQ pal? I know it's not 160
Terrance Quinn was in a coma when Trump had tariffs imposed on other countries during 2018 and 2019 and the country did not burn to the ground.
@ - truth and facts mean nothing in Trump’s America - he lied, defamed, acted like a criminal grifter rapist crook - made it perfectly clear he is a criminal grifting racist crook - and a large part of America wanted that. You know he lies - you like the lies. But don’t lie to me or indeed yourself.
@ - there is no one called ‘CushmanDavis’ - the bots can never get peoples name spelled correctly. Or is it deliberately done? Paid for by some oligarch crook I suppose.
@@CushmanDavis-z4b But it did cause net economic losses without anything in return.
Good video.
tariffs are a way to impose a national sales tax without calling it that. The objective is to transfer the tax burden to the poor.
This explains why his day 1 executive order was to rename Denali to Mount McKinley... I just assumed it was to erase the native name. Turned out it was based more on idiotic idolatry.
I thought this when it happened. Renaming was a signal. Not just for the tariff bit, but McKinley was also an expansionist. What's Trump trying to do? Tariff allies and annex countries.
"erase the native name" its name was mount mckinley for a long time. the native name wasn't "erased" even when the official name was Mount Mckinley. I don't get why you're making this into an erasure of native americans, when Trump has had a very pro-native presidency so far (w/ the lumbee tribe)
@@peacewind-aero Tariff countries with huge trade deficits..... Annex places that are crucial for national security, places which are NOT countries, like Greenland, Panama Canal, and Canada which is not a viable country without American defense and economic subsidy.
@puncifikator3870 It was called Denali long before it was called McKinley.
@puncifikator3870 As a second note, McKinley didn't ever even step foot in Alaska.
What I don't understand is that if people want to buy domestically produced products, can’t they just do that? It's not like tarrifs make domestic products any cheaper
Because of the “invisible hand.” No body wants to think of American as a charity, they won’t buy those products when cheaper and in some cases just as capable products are available elsewherez
Who are the lawyers advising Trump on legal matters?
Dewey, Cheatem and Howe
A bunch of yes men
Larry, Curly and Moe.
2:20 "The tariff question was the...alligator? Monster-- monster-sized problem for congress at the time." 😂
cracked me up lol
Bottom Line: He wants to raise taxes on everyone to pay down the debt. Eliminate income taxes which disproportionately impact high earners, and add tariffs which will take a relatively bigger chunk out of those at the lower end.
A man who takes the lessons of history to a whole new level...
Well done, great informative video
3:17 ain't none a yas talkin about McKinley's pose in that photo, it's like "hey there..."😂
A small amount of knowledge is a dangerous thing, reading about climbing Mt Everest isn’t the same as climbing it. Reading about McKinley doesn’t mean you can implement his policies……that little knowledge thing in real time 🍊🤡
Indeed. But remember that DJT is not a reader. He watches tv a lot
Dear friend, your comment is practical, like a testing in the real environment.
Hey quick question what happened to mckinley
..... The video said he was killed by an anarchist during his second term.
hey whatever happened to president mckinley...oh
To be completely fair, he was shot over different reasons and by a lunatic but I get what you’re saying
Trump knows enough history to fill a thimble 🙄
He sure is a fool
If you're going to re-introduce tatiffs, lower the income tax.
That’s his plan, tax the middle class and poor through tariffs and give his billionaire cabinet tax breaks.
@@jayc5373 Yeah, i don't get why people don't understand that part. Both the billionaire and the poor person will need to pay 25% on grocery, ect... and they both get a cut of i don't know 4% on income tax.... Who's making money from this move?
He already said that. Try to keep up.
yeah, his goal is to completely nerf income tax, cause there's no reason for us to be paying so much in taxes to the government when it could be funded by tariffs. Couple this with a significantly smaller government where we're not wasting so much money on useless stuff, and the combination will give us an incredibly wealthy nation as a result
now, if we can just get rid of the stupid tax amendment and the "US Federal Reserve Bank" (which is none of those btw, lol), then we can just utilize the treasury for it's intended purpose.
@ - lol, if you think the US government could be funded by tariffs then you should probably sit this discussion out. Stick to watching Joe Rogan. He is more your speed.
While I liked the insight and history of McKinley's presidency and tariff policy, this video omits that the America that President Trump resides over is not even remotely the same type of economy as it was back then. And the video skips the nuances of the differences between how his policies would actually impact the three R's (Revenue, Restriction/Protectionism, and Reciprocity) versus how McKinley used them in the 19th century. Also the government revenue chart is misleading, because both Income Tax and Tariffs primarily are paid by Americans, not foreigners. And it just affects Americans at different rates. Income Tax is more progressive (affecting wealthier people more (allegedly), whereas Tariffs are more regressive (affecting poorer people more).
Global manufacturing wasn't as specialized or technical as it is today. Moving a wool mill or tin smelting is very different than moving auto or computer chip or even labor-intensive tasks like clothing that favor low wage countries. You improve domestic manufacturing through investment, building modern automated factors that require little or no labor inputs and thus can compete with the global price against the developing nations. Tariffs doesn't create this investment, tax breaks or even stimulus does.
The previous administration was doing that. Heard of the Chip Act? Or the Inflation Reduction Act?
"Tariffs doesn't create this investment, tax breaks or even stimulus does."
Should we tolerate the EU continuing to put a 10% tariff on American cars?
If other countries want free trade with us, they should stop putting tariffs on our exports.
@@dafunkmonster How'd that work work out for America's closest alias? Threatened by the guy wok signed the USMCA and said it was the greatest deal ever. Now complaining about the idiot who negotiated it. Who was that? Hmmm.🤣🤣🤣🤣
You mean like the auto manufacturing plant (largest in the world) that China was building in Mexico so they could send cars tariff free into America? When Trump introduced the prospect of these tariffs, China halted construction. We wouldn't have an auto manufacturing industry if Trump hadn't done that.
@@joroll26 The previous administration passed an "Inflation Expansion Act" and called it the "Inflation Reduction Act". Those kind of shenanigans do not help our country. And people like you extolled their idiocy as greatness.
this guy is a laughting stock for the whole world and the smart americans. You get what you vote.
.....says the guy with a stoner rapper w/ a duck on his head as an avatar
If this was true, they wouldn’t need bots like you to cry.
@censortubes from the bottom of my heart I don't give a F, cope and sethe even more winning to come
@@Daniel_D-bo aww he’s 12 at best. No wonder you have no idea what happens outside mummy’s house.
no idea what u mean. what are a brit or something?
it's crazy to me that at one point the US had TOO much surplus and had to REDUCE the revenue. That's insane haha. Can you imagine a modern day President saying that the budget surplus is too much? lol shoutout to Benjamin Harrison, Grover Cleveland and William McKinley those guys were in charge of a protectionist but prosperous US at the time
Income inequality was rampant, which lends that period its name: the Gilded Age. Additionally, Grover Cleveland was a proponent of free trade, not a protectionist.
The tarriff plan will evidently lead to high inflation, the high inflation is a significant reason why most retirees have sleepless nights. The increase in prices of everyday items puts them at risk of running out of money. As prices rise, the amount of money retirees can withdraw from their retirement savings also increases.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
I find your situation fascinating. Would you be willing to suggest a trusted advisor you've worked with?
I'm very cautious about giving specific recommendations as everyone's situation varies. Consider independent financial advisors like "Vivian Jean Wilhelm" I've worked with her for some years and highly recommend her. Check if she meets your criteria.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
Very good video
Ok, WSJ, some of us(including you) may hate Trump's Tariffs... but the reality is Mckinley never abandoned tariffs, he just adopted reciprocity agreements in his second term - which is what Trump is doing. Mckinley allowed for reduced tariffs on certain goods in exchange for trade concessions from other countries. However, this was not an abandonment of tariffs but an adjustment to improve trade relations while maintaining protectionism. He sadly got assassinated in 1901. Let's not twist history.
Word it however you want, but the fact remains that he had to abandon a few of the functionary aspects of his tariffs, meaning he back-tracked and I am pretty sure that guy didn't sell 'Made in China' Bibles. Global supply is so globalised now that it is impossible for this to be a long term solution. Prices are going to skyrocket soon.........
100%
This is how smart they think their readers are. I had a fifty two dollar a year digital subscription and quit because the value just wasn't there.
Will see how your tariffs work 😂 the thing is zhinaaa is the futures of the world and no one can stop it
@pandibbarman my tariffs? Lol😂 how?
Someone explain to Trump this is a bad idea
Tariffs will increase costs of finished goods and components used throughout US manufacturing. This will be an immediate and huge hike in inflation. To fight inflation the Fed will have to hike interest rates which will be wonderful for the billionaires but possibly take away the middle class. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun..
the high inflation is a significant reason why most retirees like myself have sleepless nights. The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one
Annette Christine Conte is the licensed advisor I use and i'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Every McKinley will have his own Leon Czolgosz.
It's ironic that the 1 policy Trump has been the most consistent on even decades before he became a politician is believing that tariffs are always good for U.S. businesses. Then again, he failed/bankrupted multiple businesses before becoming a politician, so it's not too surprising he stands by enacting tariffs regardless of what economists say. Tariffs can work effectively if used sparingly/selectively, but when you put broad tariffs on all goods from a specific or even multiple countries it makes foreign made goods more expensive, as well as U.S. made goods that include foreign produced parts.
How many companies do you own govbot?
@@Censortubes None that he bankrupted genius.
@@mustywalrus7791 thanks for holding your mummy’s boyfriend hand short bus. You proved my point.
@@Censortubes Are you all in on $TRUMP coin?
Well those taxes are definitely helping the poor and middle class said no one ever 😂
trump's goal is to bring the USA back to being isolationism, not to have an endgame goal, if we become isolationists again in 2025, we'll fall as an empire
Very interesting video!
economics, history, and politics are all very interesting subjects for me.
Everyone's an expert. This is great! 😅😂😅
What if trump’s presidency ends in the same way McKinley’s did? 😂
What if the sun stops shining tomorrow?
@@robertjohnson-mt8pz And the rain never ends!
Super interesting
This is a great summation of everyone’s thoughts on tariffs. Sounds great in practice and then eventually you realize it’s not worth it and kind of dumb. 😂
I posted something on this exact thing and the rest of trump’s economic policies.
Funny because last video you were talking about how it would bankrupt America and now they have all bent the knee, I don’t think you are as smart as you think you are. Must be BLM’s best and brightest huh?
He meant that him and his friends are going to be even richer.
When tariffs begin to tank the stock market and the economy, expect to cop out: "Nobody knew that economics were so difficult".
Good Lord, he just renamed Denali through Ex Order after him. They freaking talk about it on Ferris Bueller's Day Off.
What about the tariffs during the 1930's...?
How did that end for McKinley?
Badly - they lost the Congressional elections in a landslide.
As an European in a true developed country - not like America, I’m very happy Trump won. We needed the international laughing stock back to entertain us. It started very well during the elections with “they are eating the dogs”. 😂
Thanks America for this gift to the world.
Tell me you only repeat what the tv fills your mind with without saying it.
So how does it feel knowing you are backing the most prolific criminal in POTUS history..?
This German doesn't agree.
Since we haven't done our homework on defence yet, we still need our big brother on the other side of the pond.
..though regarding economics, the Trump presidency might be useful, as the US economy
(the economy itself, not the personal economic situation of the common American)
was just getting too successful under the Democrats for us to compete.
It must be hard having tariffs slapped on your goods. Now you have a taste of what you've been doing to American exporters for decades.
@@damianm-nordhorn116 Americans think that German cars are popular over here but American cars are not popular in Germany because the Germans are better at making vehicles.
But it's because the EU puts a lopsided tariff on American cars, which makes them uncompetitive in Europe.
As someone living in the Netherlands and striving to observe global economic policies as objectively as possible, I recognize that economic situations vary over time and across regions, requiring different strategies. A policy that works in one era may be counterproductive in another.
Looking at the U.S. today, it’s clear that something has to change. The country has an enormous GDP but is also drowning in debt, and a significant portion of its industries have been outsourced. The economic reality demands a radical shift-perhaps not the most popular choice, but one that prioritizes long-term stability for the American people. Tariffs may be the best available tool to achieve this.
History shows that tariffs have played a crucial role in shaping economic power. Around 1900, the U.S. implemented high tariffs that forced European exporters to pay more for market access. The effect was twofold: it protected American industries while making European goods more expensive. Now, over a century later, the world may witness a similar scenario. If the U.S. moves aggressively on tariffs again, Europe will undoubtedly feel the impact-higher costs, restricted access to the American market, and possible retaliatory measures.
Some industries in the U.S. will suffer in the short term, just as they did in previous protectionist periods. Agriculture, for example, could be hit hard by retaliatory tariffs from other nations. The automotive sector, which depends on foreign parts, will likely see increased costs. But history suggests that protective measures can also lead to long-term gains-revitalizing domestic industries, reducing economic dependence on foreign competitors, and giving the U.S. more leverage in trade negotiations.
The global economy is deeply interconnected, and any major shift in U.S. policy will have ripple effects worldwide. But from a purely American perspective, tariffs seem like a necessary response to decades of offshoring and mounting debt. While not universally popular, they may be the right choice for securing economic resilience in the long run.
this is probably the healthiest response to the video in regards to the american perspective and why its being implemented
Why don’t you indicate that it is US citizens who ostensibly pay the tariffs
As a note: that anarchist was an unjustly sacked postal worker.
Food for thought
We all know what ended up happening to William McKinley.
Hopefully, history will repeat itself.🤔
people forget he was the other president assassinated