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Unknown A
Well, all I can say is that President Trump is the greatest orator we've ever had in the Oval Office. Every time it's done one of these addresses, Americans have been overwhelmingly blown away, excited, thrilled. And it's an opportunity for President Trump, as only he can, to lay out the last month of record setting, record breaking, onprecedented achievements and accomplishments that have made this open to the President, to the most successful opening to any presidency we've ever seen in the American history.
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Unknown B
So Elon Musk was tweeting out that video just a few hours ago, basically claiming that Donald Trump is the greatest in history. At what? I'll let you guys be the judge. I want to go through the headlines today and we'll see what's up. Basically, Trump is starting a trade war and other countries are now announcing retaliation. It says here Trump's tariffs on Canada and Mexico take effect with added duties on China. And this was just announced about an hour ago. China says it will retaliate after Trump announces tarifists will double. You also got this. Trade tendions heat up as China and retaliate against US Tariffs. Effectively, what's going on is Trump is pulling away from our three largest trade partners. So again, that is China, Canada and Mexico. And also just isolated in the USA by pulling away from allies in NATO. This is the plan, I guess, of Trump to just piss off all your friends.
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Unknown B
That's basically what we're talking about here. When you read through the details of the stuff, you'll understand the economic significance of these things. It says both China and Canada move swiftly on Tuesday to retaliate. Right. So China and Canada hitting back newly imposed US tariffs, announcing their own levies on US goods that could further disrupt US trade with its top three trading partners. So again, USA is pulling away from our partners and friends. A 25% US blanket tariff on goods imported from Canada Mexico took effect just after midnight Tuesday, along with additional 10% on goods from China. Now, the three countries together accounted for more than 40% of total US imports last year and are also its top three export markets. So we get a bunch of goods from these countries and we sell a bunch of goods to these countries. Basically we trade with them and we're isolating ourselves from the rest of the world.
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Unknown B
That's what USA is up to. Some of the categories are actually quite broad. You'll see here China retaliate with tariffs on food, agricultural products. So this is gonna hit the red states quite a bit. So you got 15% tariff on US chicken, wheat, corn, cotton products. And then you got 10% tariff on sorghum, soybeans, pork, beef, seafood, fruits, vegetables and dairy products. Right. And, and then it says the new terrifors from China are set to take an effect on March 10th. So basically USA will, you know, sell food all around the world. And that's actually gonna add up quite significantly. Now remember when China's putting tariffs on US goods, basically they're raising taxes and then USA puts tariffs on Chinese goods, effectively USA raised taxes. The tariff tax is paid for by the importing company. Oftentimes the companies will pass the cost on to you, the consumer.
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Unknown B
We'll get into more some of this stuff as we go through it. You guys will see how different companies will react differently. It says here China will impose additional tariffs up to 15% on some U.S. goods. And I just gave you guys some, you know, variety of some categories are 10%, some are at 15 whileed tariffs of up to 25%. Right. Mexico President Claudiaeinbaum is expected to announcedce her response at a news conference in Mexico City on Tuesday morning. So when that is updated, I'll let you guys know. I'm pretty sure she'll probably this, you know, respond equally to what Canada is doing to saying, hey USA, you're putting 25% on us do 25% you basically what Canada plan is. Also Trump told farmers this is sort of what he was, you know, saying, hey, to the great farmers of the United States, get ready to start making a lot of agricultural product to be sold inside of the United States.
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Unknown B
Tarifists will go on external product on April 2nd. Have fun. So that was from Trump. I told you guys about this in the last video. And if you kind of read between all lines's like, well, we may have trouble selling, you know, American food abroad, but hey, let's just sell it all to Americans. However, there's just only so much that Americans will consume. Right. So one of the things that again, this is actually quite important to American farmers is to be able to sell your products all around the world. On top of that, then you have various things. So this is kind of a more detailed one that says China adds 15American companies to export control list. You can get various tech companies, AI companies, et cetera on there. You can read through the details if you like. You also got car makers, this would be US ones are saying, hey, these terriffs are gonna hurt our investments abroad.
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Unknown B
So I'll read the details. It says Detroit automakers issued their most forceful rebuke because they don't like it yet of the Trump administration tariffs on Mexican and Canadian imports, saying they ultimately will hinder investment in US Factories. Right. Factory jobs. Late Monday, lobering groups representing General Motors, Ford Motor and Jeep maker Stellantis. So they're all complaining to Trump. However, the Trump people will tell you that everything is awesome. Have a listen to this last one.
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Unknown C
What's left of the Biden economy is slumping so badly. It's just slumping. This is the legacy of the Biden economy we here. I want you to tell me, Caroline Leitt, I want you to say, Larry, we're going to have lots of talk about tax cuts and deregulation and energy production and economic growth in the State of the Union. Message tomorrow. Upbeat. Very. I used to call it growthier. Caroline, we're going to have a growthier speech tomorrow to keep those animal spirits going. Tell me it's all true.
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Unknown D
It's all true, Larry. I can confirm the president is going to talk about his economic agenda. And truly this administration is working around the clock to bring down the cost of living for the American people to deregulate the regulations that Joe Biden put on every industry across the board. And you know, tax cuts are a huge priority for this president and he'll be talking directly to Congress about that tomorrow night.
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Unknown C
All right. Great stuff. You really TR the Caroline.
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Unknown B
So Trump's gonna claim that prices are going down, but I don't really see anyway that's gonna happen again with the trade war in effect. If you guys know how prices are coming down, please let me know. Their plan is that I guess we're gonna lower regulations and everything's gonna be awesome. Remember, Elon Mus hates regulations cause he wants to blow up rockets over your head. He wants to poison your water. He wants to know do all these crazy things without any oversight. Even Warren Buffett is calling B's on these people here says Warren Buffett says tariffs are an economic, quote, act of war and the tooth fairy doesn't pay him. The basic gist of it is that Donald Trump and must they like to say, oh well, you know, when we put a tariff on China, they try to imply that China pays it. But that's not actually correct that you are gonna end up paying it.
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Unknown B
Now, to be fair, there is a possibility that the US Company will pay it notcessarily. You right away, I'll read you the detail that. So that's actually coming from. It's interesting. Chipotle, they had a statement on this. So this is Trump tariffs usher in a new era Protectionism. And this is from Chipoli, just to give you one example. It says some companies are planning to shoulder the cost, at least for now. So this is Chipotle. Chipotle Mexican Grill says, for example, said expects Tariforf imposed on Mexican imports like avocados, right? So that's something that is very important to them. Of course could weigh on its profit margins this year, right? So if the cost of avocados go up, that's gonna hurt their profits. The company, the company on Monday said it aims to absorb potential cost increase rather than raise customer prices due to uncertainty about how long the terrorf could last.
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Unknown B
Now here's the thing, just think about this logically. If they don't want to raise prices right on consumers, that means they're going toa have to eat at their margins, which will lower their earnings call and that'll essentially effectively hurt their stock, which will hurt the richer, wealthier people in the USA which would be pissed off. And then they'll be like, what the heck is going on here? Why am my assets and stocks going down? And then essentially they will be unhappy and maybe not have so much trickle down, if that works at all, right? So I just want you to understand that someone has to pay this somewhere and then that money is gonna go to Trump and Musk, right? This tariff tax that you pay and then they're gonna funnel that into their stupid AI projects or have rockets blow over your head cause Bus wants to go to Mars.
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Unknown B
Now theoretically, if you know the wealthy people, the wealthy class in USA get pissed off that hey, why are my stocks going down? Then Chipotle would then put the cost onto consumers directly to raise their profits. However, if they raise prices, right, Maybe people don't shop at Chipotle so much so, you know, effectively. Again, this is a tax on you, you could argue tax on companies, cause that's who's directly on the hook for it. But most companies will probably pass the cost on. You just want to make that clear. But it's, you know, I just want to give you a more fuller picture of this. Trump is also cutting off supplies to the Ukraine. So we'll see how that plays around the rest of the world. Already Trump's been threatening on putting tariffs on Europe as well. So I mean there's a lot of things going on the air.
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Unknown B
Just generally speaking, guys, the market doesn't like this stuff and they're calling B's on the stuff that Trump is saying. Because remember the Trump people are claiming that, you know, he's the Greatest in history. And prices are going toa come down and profits are going to be awesome and growth is going to be fantastic. It's just not looking that way. Right, but the trade war, and think of it this way as well, the USA could isolate, you know, themselves from the rest of the world and then everyone else just trades with each other except the usa. Right? If Canada is s like okay, fine, we're not trading with the USA anymore. We're just going to trade with China instead. We're just going to trade with Europe instead. Right, let's screw the usa. That's, I mean that's what it's looking like if you want to go into the Trumpie world.
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Unknown B
These are the headlines today that sort of reflect that. For example, this came out today. Justice Department is poised to drop suit over alleged cancer causing pollution. So basically let's get rid of regulations and let's have more cancer causing, you know, gases and chemicals in the air. Fantastic, right? That's the Trump plan. Get rid of regulation so more things are out there to poison you. Or here's another one, Crypto exchange Kraken says SEC will drop lawsuits. So again we're gonna get rid of regulations. And so now, you know, crypto companies and whatever banks can scam you more financially. Again, that's the Trump world. So theoretically, right, to be fair, theoretically companies can make more money by poising you and theoretically companies can make more money by scamming you. But that's not necessarily the world that I think is good for the average American person. However, that's not who Trump and you know, Musk are concerned with.
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Unknown B
They're concerned with tax cuts to rich people and essentially effectively average Americans will pay the price. And then you got this. Trump advisors want to strip public spending from the GDP tally.
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Unknown C
Why?
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Unknown B
It makes no sense. So the basic gist of it here is that if you know you're gonna tank the stock market, you know you're gonna tank the economy. And if you know you're gonna take the gdp, just change the way that we calculate said things, that's their plan. Seriously, they want to change the calculation on GDP to remove the government numbers and the government aspect of it. Because effectively what they wanna do, members fire all these government people, count all these agencies, you know, control government spending so they can get tax cuts for the rich and effectively that'll probably tank everything. And then they'll try to just change the numbers to pretend it wasn't them. That's their idea. And then they'll point, you know, another direction and say, oh, someone else's fault. But I'm showing you guys this ahead of time so you understand what their game plan is.
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Unknown B
And then on top of that, you got this. Canada, they said they're gonna hit back, right, with retard tariffs. This is a statement from Justin Trudeau. He says because of the tariff imposed by the U.S. americans will pay more for groceries, gas and cars and potentially lose thousands of jobs. Tariff will disrupt an incredibly successful tradeing relationship. They will violate the very trade agreement that was negotiated by President Trump in his last term. So basically this is gonna hurt everyone and then that's their plan. So you know the Trump people, they'gonna say they're the greatest in history. And the question I pose is at what? And I'll leave that up to you. So want to hear your comments on what you think about what's going on. That's the retaliation of China and Canada. We will ll hear more from Mexico and then probably maybe Trump will retaliate again and we'll get this back and forth trade war.
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Unknown B
Do appreciate you watching and catch you on the next video.