There are several videos that we recommend watching to understand the impact of tariffs from the Prime Minister of Singapore, China and the impact of tariffs on job growth. Remember this now a 90 day pause for some countries except China and does NOT include new tariffs on Mexico and Canada. The stock market gained but if we had stock, we would sell now. An adversary role with China is NOT good.
NOTE if this tariff war with China is not resolved- be prepared for a SEVERE recession.
1.Singapore’s PM Reality Check-https://www.youtube.com/watch?v=c5GMKzJVQJM
This is what a real stateman is- Lawrence Wong
2. How China is fighting US Trade War-https://www.youtube.com/watch?v=AQLvQk16Vwc
As of April 12, Trump has now exempted smartphones, computers and chips, memory cards, solar cells and electronic devices and components including semiconductors from the 125% tarrif. Do you think this guy understands the uncertainty he is causing in business and individuals?
2. Economists on How Trump’s 2017 Tax Cuts Actually Played Out- Wallstreet Journal-https://www.youtube.com/watch?v=AdwFchjz2e8
And keep in mind that a plant worker in Vietnam makes $1.20 and hour while a US worker makes $35. Also, new manufacturing- robots more prevalent and American workers do not want to work in plant conditions and Trump is hell bent on exporting immigrants who would be most likely to want to work in a plant. Plus, it takes 2-5 years to construct a plant. And, given Trump’s volatile tariff policy- what company would want to invest with that degree of uncertainty.
And, now our GOP Congress has passed the huge $5 Trillion+ budget to fund tax cuts for corporations and the wealthy (they top 5% get 49% of the benefit)–eg the top tier gets $61,000 benefit and you get $400. Which of course, will not offset the $2000–$5000 impact of increased prices due to tariffs. And, the tariffs have trashed corporations/stocks, so now the tax cuts do not even help them that much. Meanwhile, Medicaid, Agriculture, and more will be cut….making the 36 million kids, 10 million disabled, 7 million elderly and 33 million poor with no health care. Shame on the GOP.
Current list of Trump’s Tariffs-https://www.cbsnews.com/news/trump-reciprocal-tariffs-liberation-day-list/
