Whose Tariffs Are Worse For The American Consumer?

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Published 2024-07-02
President Joe Biden and former President Donald Trump share common ground on tariff policy. While some policymakers argue that tariffs can be a tool to protect and help grow domestic industries and ensure national security, tariffs may also result in unintended economic consequences that cost U.S. consumers billions. Trump's trade war tariffs generated about $233 billion in duties collected by U.S. Customs through March 2024, according to an analysis from the Tax Foundation. Watch the video above to find out which candidate's tariffs will be more expensive for the American consumer.

Chapters:
0:00 Introduction
01:25 Chapter 1: Tariffs vs. inflation
03:43 Chapter 2: Common ground
09:13 Chapter 3: Global trade

Produced and Edited by: Andrea Miller
Animation: Christina Locopo
Additional Camera: Carlos Waters
Supervising Producer: Lindsey Jacobson
Additional Footage: Getty Images

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Whose Tariffs Are Worse For The American Consumer?

All Comments (21)
  • @snacking5908
    335 million people and these are the two we have to choose from.
  • @aahmed29
    This is how politicians play with regular everyday people. They take advantage of the lack of education of regular everyday Americans and use that as their advantage, yet these Americans cheers for their beloved politicians and vote for them. This dumbness is unbelievable! LOL
  • @LLWCorp
    The tariffs dont switch manufacturing back to the USA, they just shift it from China to Vietnam, Cambodia, Thailand, Malaysia, India, etc... I own a manufacturing co and our goods CANNOT be made in the USA or no one could afford them and NO ONE would buy them. They are solid brass lighting. We tried manufacturing in the USA but our prices would have tripled and no one would be able to afford them.
  • @makiyano9896
    Very interesting how politicians can just make the public believe whatever they want us to believe.
  • @veemacks7255
    They're worse than the two old guys in the balcony on the muppet show.
  • @80jinjang
    They were more concerned about who can carry the golf bag.
  • I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2024
  • Just another tax. How about the government just stops spending so much? Stop wasting so much?
  • @jensumayer
    Tariffs like sales taxes are a regressive taxation, i. e. poorer people pay a larger portion of their income.
  • @brianliew5901
    With this caliber of leadership, America is totally fxcked. 😢😢😢😢
  • @User.2024.1
    When AIPAC makes initial candidate choices then Americans vote on the limited pre-selected candidates, this is what you end up with.
  • @M3LO
    Man all Bernie was trying to do was get us all affordable healthcare but he got pushed out for these two ?
  • @LyodDan
    Awesome video, Gracias,! I think the market is over-heated. And I am concerned that people are focusing less on fundamentals and just chanting the mantra of dollar cost averaging and driving the market higher without considering fundamentals. It is a catch-22 for me. I mean I like crypto prices going higher but I also hate buying over-priced market and ETFs. Personally, I have stopped buying growth ETFs- they are ridiculously over-valued. Dividend crypto and ETFs are a little better but they are still over-valued. There is some hope with small and mid caps. I am not sure they are undervalued but at least they are less over-valued..This pattern offers a valuable insight for strategic planning. Despite these trends, i have delve deeply into active trading and managed to grow a nest egg of around 100k to a decent 432k in the space of a few months... I'm especially grateful to Haley Eleanor , whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
  • Hallelujah!!!! The daily jesus devotional has been a huge part of my transformation, God is good 🙌🏻🙌🏻🙌🏻🙌🏻🙌🏻was owning a loan of $47,000 to the bank for my son's brain surgery (David), Now I'm no longer in debt after I invested $8,000 and got my payout of $270,500 every months,God bless Christy Fiore 🇺🇸🇺🇸🇺🇸..
  • @walterhat1638
    Tariffs are just another way for the government to regulate my life. :(
  • @alohatraveler
    This message brought to you by the Chinese government
  • @skak3000
    That is the point of tariffs... Increase prices on imported stuff. This makes it possible to make the same product in the country to the same price...
  • @jamietung8233
    What is worse? Not having a job and not being able to afford to pay for anything or having a job, having to work 40 hours per week, and still not being able to afford to pay for anything?
  • @Stantep
    We should continue to keep tariffs high. Before trump, it was cheaper for companies to pay import fees from Europe and buy American company equipment from there. For example, Cisco was cheaper to purchase in Europe and ship to New York (pay 2.5% import fee) than to actually purchase in New York and pay the 8.875% sales tax. That made absolutely no sense and thankfully it has been fixed. I lost sales when I was in that industry due to this.