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Tariffs were once a significant source of revenue for the U.S., but in the early 1900s, the country shifted to an income tax due to pressure from other nations. A commission was formed in 1887 to address the surplus wealth generated from tariffs on foreign goods. The U.S. thrived by taxing imports, which protected American jobs. China, for example, allows foreign companies to build factories there, leading to a different economic dynamic. Elon Musk is mentioned as a notable figure who has successfully navigated these challenges, particularly with his ventures in the automotive and space industries.

President Trump is prioritizing America by implementing reciprocal tariffs, a concept with bipartisan support. Trump aims to reverse decades of being the "world's ATM," referencing his 1988 concerns about trade imbalances with Japan and other countries not paying their fair share. The US has become overly reliant on adversaries like China, even for essential items like pharmaceuticals. Between 2020 and 2022, US imports of China-based pharmaceuticals grew by 485%. China now owns the American generic drug supply. Trump is implementing discounted reciprocal tariffs, charging China half of what they charge the US. Critics predict economic disaster, but Trump supporters argue these tariffs are essential for long-term independence and are already incentivizing investment in American factories. Critics accuse Trump of promising to lower the high cost of living, but now, quote, crashing the economy. Countering claims that Trump will cut Social Security, supporters say he explicitly stated he would not. The speaker claims the media lies about Trump, while Americans support his actions.

To sell to Americans, products must be made in America or face tariffs. China's economic model is uniquely imbalanced, with extremely high export levels relative to GDP and population. China is in a deflationary recession and is trying to export its way out, which the US can't allow. The ideal scenario involves a deal where the US and China rebalance their economies. China would consume more and manufacture less, while the US would consume less and manufacture more. This would level the playing field, although military and economic rivalry would persist. China's business model is considered broken, potentially due to tariffs. Because China has a large deficit with the US, they need US markets to survive. The relationship between President Trump and Chairman Xi provides confidence that details can be worked out and prevent things from going haywire.

Chuck Schumer and Nancy Pelosi have been discussing tariffs for decades. China's repression, trade deficit, and job losses for American workers are issues. Tariffs signal to China that unfair trade policies must end, or there will be dramatic consequences. When Democrat elites want tariffs, it's accepted, but when President Trump wants tariffs, there's a double standard. Some believe everyone knew tariffs were necessary, but lacked the courage to implement them. Implementing tariffs takes guts, and the country needs to be patient. The situation is working out, possibly faster than anticipated. This is a transition to greatness for the country. People investing in the country will do better than ever before.

At the start of the 20th century, America was the richest country. We used tariffs to defend our workers from unfair trade policies and had no income tax. Foreign companies paid to sell to America. Now, we have the Internal Revenue Service, charging us internally. Politicians who can't manage money keep taking more from us. Donald Trump plans to fix this by creating the External Revenue Service. Foreign companies will pay to sell to the U.S. If they want to compete with American workers, we shouldn't tax our own people. This will ensure that no bureaucrat will cut your benefits.

Do it. The tariffs are said to be bringing in a lot of additional revenue, which, the speaker states, is being used to give tax relief to the American people and make it easier for average Americans to get by. So

The speaker discusses how the federal income tax negatively impacted Americans by shifting the government's revenue source from tariffs to taxing individuals. They argue that tariffs on international corporations would be a better revenue source, promoting American manufacturing and job growth. The speaker highlights the historical importance of tariffs and criticizes the impact of the income tax on American prosperity. They emphasize the need to educate future generations on these issues.

"Tariffs are vital to the success of this country." "They could possibly replace federal income tax." "From 1850 to 1913, in the 1887, it's about 1887, they had the Great National Tariff Act." "And then in 1929, you had the depression." "They ended them in 1913. How did that work out? And then we went to the income tax." "I settled seven different wars. One going thirty one years, one go look at the Congo and Rwanda." "Thirty one years, ten million people dead. I got it settled." "We have trillions of dollars coming into our country." "If we didn't have tariffs, we would be a very poor nation, and we would be taken advantage of by every other nation in the world."

Tariffs on foreign imports may first appear patriotic—protecting American products and jobs—and sometimes they work for a short time. But what eventually occurs is that first homegrown industries start relying on government protection in the form of high tariffs. They stop competing and stop making the innovative management and technological changes they need to succeed in world markets. And while all this is going on, something even worse occurs. High tariffs inevitably lead to retaliation by foreign countries and the triggering of fierce trade wars. The result is more and more tariffs, higher and higher trade barriers, and less and less competition. So soon, because of the prices made artificially high by tariffs that subsidize inefficiency and poor management, people stop buying. Then the worst happens. Markets shrink and collapse, businesses and industries shut down, and millions of people lose their jobs. The memory of all this occurring back in the thirties made me determined when I came to Washington to spare the American people the protectionist legislation that destroys prosperity. Now it hasn't always been easy. There are those in the Congress, just as there were back in the thirties, who want to go for the quick political advantage, who risk America's prosperity for the sake of a short term appeal to some special interest group, who forget that more than 5,000,000 American jobs are directly tied to the foreign export business and additional millions are tied to imports.

Trump instinctively understood that outsourcing everything was a mistake. Globalist elites believed in making things wherever it was most efficient, but they forgot that losing manufacturing means losing leverage. If we don't make things in America, we're vulnerable. It's easy to complain about tariffs, but what's the cost of allowing a dictator to destroy our economy overnight? Xi could cripple us by cutting off access and nationalizing industries. Nobody is talking about how easily Xi could destroy companies like Apple and millions of jobs with a stroke of a pen. I'm now pro-tariffs until we get our act together. We transformed into a manufacturing powerhouse during World War II in just two years; we can do it again. We also need to train a new generation in manufacturing. We should bring back defector visas, targeting critical people in hostile countries like China, offering them jobs here to weaken our adversaries.

At the turn of the century, around 1900, America's economy was booming with no income tax, only tariffs. We had so much money, the greatest businessmen gathered to figure out how to spend it. After World War I and II, we felt obligated to rebuild the world, so we lowered our protections and tariffs, taxing Americans to export our economic power. When should that have ended? The eighties, nineties, or 2000s? We're letting the world take advantage of us, and it's time to make America great again. Getting rid of tariffs was sold as helping the earth, but middlemen just wanted a cut. We have delivered victory against the globalists, but their systems are still attacking us. Support us at RealAlexJones.com to keep us on the air regardless of what happens to InfoWars. History is happening now, and we need your support to complete our victory against the globalists.

Tariffs could replace income taxes. This idea stems from historical context, as the U.S. was wealthiest in the late 1800s under President McKinley, known as the "tariff king." He eloquently advocated for tariffs, emphasizing the need to protect American jobs, factories, and families from foreign competition. The message was clear: foreign entities should pay a significant price to operate in the U.S. to safeguard domestic interests.

One speaker believes cutting corporate taxes overwhelmingly benefits the wealthy because capital income represents a huge amount of their income. Another speaker argues corporations provide jobs and pay taxes that fund government jobs. The first speaker asks where the government gets the money to pay its employees, and the second speaker answers, "Revenue from both households and corporations," further stating that trickle-down economics has not worked for the past 50 years. Michael Faulkinder believes tariffs are an important tool to address practices like currency manipulation and intellectual property theft, particularly by China, and to bring them to the table to negotiate trade inequities. He anticipates tariffs would incentivize moving supply chains to more resilient locations.

We often hear the slogan "make America great again," but what does it really mean? It's important to consider when America was considered great. Looking back to the turn of the century, around 125 years ago, the economy was thriving. At that time, there was no income tax, and the government relied solely on tariffs.

Technology companies have committed over $2.5 trillion to build in America due to tariffs, with sovereign wealth funds from the Middle East also investing, totaling over $3 trillion committed. The pharma industry, auto, and industrial sectors are also returning to America. The speaker mentioned the Trump Gold Card's popularity and a plan to replace the Internal Revenue Service with an external revenue service, funded by tariffs, so outside countries trading with the U.S. pay their fair share. Ending de minimis will rebuild mom and pop and small businesses in America by stopping foreign countries from sending small packages for free.

Tariffs are a key part of economic independence and were the main source of US government revenue before 1913, allowing the country to fund itself without income tax. Tariffs protect American workers and industries from being undercut by lower-cost foreign goods, allowing American businesses to compete. Levying tariffs maintains jobs and encourages domestic production, which is crucial for national security and prosperity. Tariffs help the U.S. negotiate better trade deals by pushing other countries to lower their trade barriers. Globalists, corrupt politicians, and crooked elites oppose tariffs because they benefit from cheap labor and lax regulations abroad. Tariffs value American workers, consumers, and the nation. The U.S. needs tariffs, not taxes, to put America first and begin a new golden age.

Tariffs are a crucial bargaining tool in international trade, particularly for American auto manufacturers like Ford and GM, which face 100% tariffs in Europe and Japan. If the U.S. imposes similar tariffs, it will prompt negotiations, leading to reduced tariffs abroad and allowing American companies to compete. The focus should be on protecting American workers and promoting domestic production. While tariffs can generate revenue, their primary purpose is to create fair competition. Historically, the Marshall Plan allowed countries like Germany and Japan to rebuild their economies without facing U.S. tariffs. However, after decades, it's time to reassess why these countries still impose high tariffs on American goods while the U.S. remains open to their markets.

Trump instinctively understood that outsourcing diminishes our leverage. Globalist elites thought making things in the most efficient economy was great, but they forgot that if we can't make anything, we're at everyone else's mercy. A dictator could destroy our economy overnight. Isn't it humiliating that our prosperity depends on Xi Jinping's goodwill? It's scary that Xi could destroy Apple or millions of US jobs with a stroke of a pen, yet nobody discusses this openly. I'm now a libertarian who supports tariffs until we get our act together. It wouldn't take long to reindustrialize; we did it rapidly during World War II. The problem is that we've disincentivized smart kids from pursuing manufacturing careers. We need "defector visas" to steal top talent from hostile nations like China, specifically targeting critical roles to weaken them and strengthen us. This isn't just about skilled immigration; it's about actively harming our adversaries.

Experts have been wrong for 40 years about the effects of shipping manufacturing and industrial bases to other countries like China and Mexico. They claimed it would lead to cheaper goods and a stronger middle class, but they were wrong about making America less self-reliant. Donald Trump recognized this and decided to bring American manufacturing back, unleash American energy, and make more goods domestically.

Revenues from the S&P 500 are 41% foreign-based, so multinational companies are scrambling due to tariffs. Nike stock is not doing well, and they won't increase consumer prices by 25% to stay competitive, as that would hurt sales and plummet their stock. Instead, they will absorb tariffs and bring manufacturing back to the U.S. Ford and Toyota are already doing this. Ford is offering employee pricing, and Toyota is running a campaign to highlight cars made in the U.S. Countries where corporations are based don't want them to move. The only way to hurt a mega-corporation is to hit them in the pocket. Smart companies like Microsoft, Apple, Toyota, and Honda have already moved to the U.S. Hyundai invested in a U.S. plant during Trump's first term. The stock market reflects the "punch to the gut" for corporations operating abroad but registered in the U.S. These companies must return to the U.S. or risk pricing themselves out of the market.

Tariffs are presented as vital for economic independence, having historically served as the primary revenue source for the U.S. government before income tax. They are said to protect American workers and industries from unfair foreign competition by ensuring domestic businesses can compete and thrive. Tariffs are claimed to maintain jobs, encourage domestic production, bolster national security and prosperity, and improve trade deal negotiations. Those who oppose tariffs are characterized as globalists, corrupt politicians, and elites who exploit cheap labor and foreign regulations. The speaker advocates for tariffs to value American workers, consumers, and the nation, keep jobs in America, and protect the economy. The conclusion is a call for tariffs over taxes to put America first and usher in a new golden age.

The speaker claims that America was once rich due to tariffs, which taxed other countries for taking American jobs, similar to China's current policies. They state that in the 1880s, a commission was formed to decide what to do with the excess money generated from tariffs. The speaker asserts that America switched to an income tax system in the early 1900s because other countries pressured America to stop using tariffs, implying these countries controlled American politicians. They contrast this with China's policy of requiring companies to build factories there to sell cars, referencing Elon Musk as an example and praising him.

The president wants to impose tariffs on foreign importers to bring investment and jobs back to the U.S. Businesses can avoid tariffs by building and investing more in America and raising wages for American workers. The administration aims to lower inflation, ensure government services, and force businesses to invest in American workers. Inducing businesses to invest in American workers and reshoring supply chains will strengthen the economy long-term. The COVID crisis showed the U.S. can't rely on China for critical supplies. The president is changing a bipartisan consensus that has harmed American workers. Investing in the U.S. will be rewarded with lower taxes, regulations, and energy costs. The European Union has been tough on American workers by imposing tariffs. The president is defending the American worker and fighting back against unfairness. The U.S. has a $1 trillion trade deficit and will no longer allow Americans to go into debt to buy foreign-made goods.

Speaker 0 describes a high-stakes geopolitical confrontation framed as a poker match between the United States and BRICS, especially China. He asserts that the early 2026 period is explosive and that US actions against Iran are imminent, escalating the stakes. He then lays out a narrative beginning with Venezuela, a key Chinese trading partner, where the United States not only sanctioned and condemned Venezuela but launched “devastating strikes,” captured Nicolas Maduro and his wife, and brought them to New York City for prosecution. He claims the Chinese delegation was meeting Maduro in Venezuela on Saturday, but Trump’s actions disrupted the meeting, and the Chinese delegation remains in Venezuela as of Sunday morning. He argues that this is not about narcoterrorism or fentanyl but a larger strategic move, and notes the apparent lack of resistance from Maduro’s side, suggesting direct CIA involvement and a stand-down agreement to allow the operation. He condenms what he calls “phony outrage,” arguing Democrats are not truly anti-war and contending that the incident marks a dangerous precedent for militarized actions in sovereign nations. Speaker 1 contributes by agreeing that China and Russia are not stupid enough to threaten the United States militarily in the homeland, but contends they will act through economic and financial measures. He predicts China and Russia will liquidate debt holdings and trigger negative impacts on the U.S. bond market, while avoiding direct military confrontation. He emphasizes that the response will be economic rather than kinetic. Speaker 0 returns to the 30,000-foot view, stating that the Venezuelan event signals an open head-to-head between the U.S. and China, with globalization receding and regionalization rising. He highlights two key leverage moves: the United States using tariffs as a market-access tool, while China employs choke points through export controls on critical materials. He notes that China quietly moved nearly $2 billion worth of silver out of Venezuela before Trump’s invasion. He points to China’s January 1 policy implementing a new export license system for silver, requiring government permission and designed to squeeze foreign buyers, which coincided with a sharp rise in silver prices. He connects this to broader concerns about supply chains and critical inputs like rare earths and magnets, noting that China produces over 90% of the world’s processed rare earth minerals and magnets, a powerfully strategic lever. He argues that China has tightened rare earth export controls targeting overseas defenses and semiconductor users, and that these factors contribute to a shift from globalization to regionalization where supply chains become weapons. He frames Trump’s tariff strategy as a means to gain access to the U.S. market, branding April 2 as “liberation day” for tariffs due to how markets reacted, and mentions discussions of a tariff dividend proposal to fund a new economic model, as floated by the administration. Speaker 0 concludes that Venezuela is a focal point where resources, influence, and dollars collide, with potential implications for the U.S. dollar, and asserts that the geopolitical chessboard is being redrawn as the U.S. and China move into open competition. He ends by forecasting further moves, including a controversial note about Greenland, and invites viewers to subscribe for coverage of stories the “Mockingbird media” will not discuss.

Hello, and welcome to this week's report. Recent tariffs imposed by the US and China highlight the dangers of protectionist policies. China's tariffs on US agricultural exports were in response to increased US tariffs on Chinese goods. While tariffs might offer short-term benefits to specific industries, they ultimately harm consumers through higher prices and reduced choices. Despite claims that foreign businesses pay tariffs, it's actually US businesses that import goods that pay them, passing the costs onto consumers. The idea that tariff revenue can offset tax cuts is flawed because tariffs that generate significant revenue also discourage imports, undermining the goal of boosting domestic purchases. Tariffs decrease economic output and limit consumer satisfaction by distorting spending choices. The fundamental issue with tariffs is that they represent theft, similar to all taxes.