If any of you have conservative or moderate friends or family to whom you want to explain tariffs and why they are a bad idea, consider having the message come from a friendlier (to them) source - namely, Ben Shapiro.
Here is a concise, clear, and 100% accurate explanation of Trump’s tariff policy from the conservative commentator:
Ben Shapiro is a loathsome person for many reasons (foremost in my mind is his attitude toward the LGBTQ+ community, particularly trans people) but he’s not stupid and he’s sane, and he has never been a big supporter of Trump, certainly not of the MAGA movement.
I’m not surprised by this video and I’m sure it’s possible to find more like it.
I’m no expert on this stuff. But my sense is that the 25 percent for Canada and Mexico is too high to be serious. But the 10 percent on China is more plausible. As explained in this NY Times article, China could eat it by changing the exchange rate. I guess this would increase the trade deficit, since Chinese would not be able to afford imports from the U.S., like food. Ben Shapiro says the trade deficit does not matter.
Don’t expect Trump’s dumb policies to instantly crash the economy. It does not work like that.
He’d claim that the threat alone caused the bad guys to back down in front of the manly stud Trump (and probably with tears in their eyes). And if anyone says it didn’t work, he can just point to the non-existence of the problems he claimed to be fixing (that never existed in the first place).
“I will save you from the magical Beef Goblins that steal your children’s souls!”
…
“They are now saved! You will never see another Beef Goblin floating outside your window again!”
Human beings have been pulling that “mystic” BS for all of human history.
Any tariff on goods from Canada or Mexico is too high. Didn’t he establish free trade with them? Companies depend on being able to shift production among the three countries.
And he presented it as tariffs he would impose on Canadian and Mexican exports; but isn’t it the importer who pays it?
Angering Trump so much that he feels he has to carry out his threats is strongly against the national interests of Canada and Mexico. Trudeau is already working on it. He and Sheinbaum will threaten counter-tariffs but hope to avoid all that by throwing Trump some increased border enforcement (or stay in Mexico).
I think Trump’s crazy man act is risky and disgraceful. But sometimes it will work.
No. We had NAFTA, which Trump declared the worst trade deal ever. He threatened to pull out of it if we didn’t renegotiate it. We then made a few small changes and he declared victory, making it the best deal ever.
The described conversation sounds like a pure Logan Act violation (unauthorized negotiation with foreign government). I expect DJT to be arrested later tonight
Who cares. Trump doesn’t even need to build WALL. Amazing! Wish he thought of this his first term and stopped the ilegals then. Either way, border problem fixed.
Let’s check back on this in a few months. I figure it ages like fine wine.
The guys who will end up eating it are the US consumers.
The rising tariff tide sinking all moored boats.
China doesn’t buy food from the US, they buy agricultural produce like soybeans to feed to their pigs. Your implication that China can’t feed itself is wrong.
Not anymore do they buy agricultural products from the United States. After his first term tariffs, China shifted to buying soybeans and other commodities from other countries. American farmers were not happy.
I meant that they will buy animal feed from elsewhere if a weak renminbi makes U.S. imports too expensive.
It may be that our real disagreement is over how sure one can be that Trump will crash the economy, or even that he will have an obviously failed presidency. Harris had to make the case for another Trump term being disastrous. But the future is always unpredictable, and Trump, being a chaos agent, makes it more unpredictable. To me, Harris was low-risk, Trump high risk. I never gamble. I like low risk. And Shapiro is correct that Trump’s economic theorizing is plain wrong. If Trump enacted the tariff levels he promised, it would take incredible luck for things to turn out well. But Trump already is backing down, so we do not know what will happen.
Wow surprised to see a Shapiro video where I agree with so much. Right at the end he even starts to criticize farming subsidies, which are huge in the US (and remember is also the supposed justification for imposing tariffs on China; that because they subsidize certain industries they aren’t “playing fair”).
Everyone’s right about something, and as was pointed out upthread, Shapiro is not actually stupid.
Tariffs and trade barriers are shockingly popular everywhere, and are invariably supported by two kinds of people:
Capitalists who want protection for their business rather than having to compete in a free market, or who want regulatory capture or some such thing, and
The ignorant.
Trump is advocating a massive tax hike, and tens of millions have no idea they are supporting higher taxes.