Who Will Win In This Trade War?
Matt Will joined us economist at the University of Indianapolis. And I appreciate you taking the time. It’s a 25% tariff on everything coming out of Canada. It’s a 25% tariff. Dr Will except energy, except energy 10%, you’re right out of Canada, it’s 25% everything coming out of Mexico. So, this is what we’re dealing with. This is not the reciprocal tariffs that you are actually a fan of, sir. This is above and beyond because of fentanyl or other issues. What are the actual tariff details as you know them from the White House?
Well, from the White House. It’s very easy to figure out the retaliation, though, is a little bit more complex and we can cover both of them. But the White House issued a statement this morning. They said the using the International Emergency Economic Powers Act, that’s a mouthful. And Trump used it 11 times in his first term to specifically target a specific task. And, you know, I’ve been complaining that he hasn’t told us what he wants out of these tariffs. It says it very clear. I mean, I can read it. It says, you know, to deal with the post, the posed threat of illegal aliens and drugs, including deadly fentanyl. It constitutes a national emergency. So he’s saying I want you to stop illegal aliens. I want you to stop fentanyl. And we’re going to do it by putting a 25% tariff on Canada and Mexico. And also, he put a 10% additional tax on China. So, the tariff for China is now a total of 20%. And what he’s saying is very clear. I’m tired of talk. I want actions. They gave them 30 days to take action. They paid some lip service to the action. So now he’s initiating a trade war. Now, Tony, it’s important we understand the trade war from an economic and finance perspective is different than a tactic for political and social issues, which is what he is doing here… There’s no question about what he wants.
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