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I reject the idea that President Trump started a trade war. For decades, countries like China and Mexico have harmed American workers and the economy through practices like intellectual property theft and illegal immigration. The mainstream media ignored these issues for years and now pretends to care about American consumers, particularly regarding tariffs. Many corporate media outlets are influenced by a globalist agenda, but Trump represents a shift towards using America's economic power to achieve real wins, including in immigration. The Chinese Communist Party has long exploited American workers, and the narrative that the trade war began with Trump is misleading. The focus on American workers and consumers is often performative.

A young Chinese TikTok influencer speaking English shared a 1.5-minute clip directed at Americans, and the speaker says it is “fascinating” and discusses it with Chris and Professor Mearsheimer. The clip claims Americans “don’t need a tariff” and instead “need a revolution.” It argues that American “garment and auto guys” for decades “won’t ship your job to China” for diplomacy or peace, but to “exploit cheap labor,” resulting in hollowing out the middle class and crashing the working class while telling Americans to be proud as “they sold your future for profit.” The clip contrasts China’s use of trade gains—building roads, lifting millions out of poverty, funding healthcare, and raising living standards—with what it says American “oligarchs” did with wealth: buying yachts, private jets, and mansions, manipulating markets, dodging taxes, and pouring billions into endless wars. It says Americans face stagnant wages, crippling healthcare costs, “cheap dopamine,” debt, and “flagged wave poverty made in China,” while elites “picked your pocket.” The clip states that for forty years both China and the United States benefited from trade and manufacturing, but only one of them used that wealth to build, calling it “yours” and claiming Americans “let this happen.” It says elites fed lies that made the public “fat, poor, and addicted,” and rejects the idea that China is to blame for mass damage, arguing Americans should “wake up” and “take your country back.” The speaker adds one correction: “we haven’t spent billions on useless wars, we've spent trillions on useless wars.” Professor Mearsheimer is prompted to respond as if the clip’s speaker were his student. He says he “basically agree[s] with him” and that he thinks the message is largely something Trump made as a candidate before the 2016, 2020, and 2024 elections, which the speaker says helped get him elected in two of those three cases. Mearsheimer concludes that there are “a huge number of People in this country” who feel exactly the same way the Chinese influencer describes.

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.

Chinese producers on social media are exposing who Trump's tariffs target: international corporations, not American consumers or Chinese producers. For example, if Nike buys shoes for $10 and sells them for $100, a 25% tariff means Nike pays $2.50 to the U.S. government per shoe. Nike's cost increases by $2.50. Even if Nike passes this cost to consumers, the price only increases to $103. Chinese producers on TikTok suggest it's better to buy directly from China, even with tariffs and shipping, for $12.50. Tariffs are not meant to hurt consumers or China, but to protect American industry from corporations prioritizing profit. Those who criticize tariffs are often the corporations and investors who benefit from these practices.

According to a report from the USTR, over 50 countries have contacted the president to start negotiations. These countries supposedly understand they bear much of the tariff burden. The speaker believes the consumer in the U.S. will not be greatly affected. The speaker claims the persistent long-run trade deficit exists because other countries have very inelastic supply and have been dumping goods into the U.S. to create jobs, such as in China.

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.

Speaker 0 is down $7,000,000 in stocks and crypto due to Trump's tariffs. Speaker 0 has been trying to understand the tariffs, which they see as a trade deficit tariff. The speaker suggests the tariffs are based on a formula to even up the amount of goods traded between countries. According to the speaker, everything is in bad shape because of these tariffs.

A 4% tariff on China is insufficient; 400% is necessary because China doesn't adhere to WTO rules, steals IP, and cannot be litigated against in their courts. This isn't just about tariffs; it's about leveling the playing field, something no one has done. The speaker claims to represent millions of Americans whose IP has been stolen. While acknowledging the Chinese people's contributions, the speaker asserts their government cheats and steals. The speaker praises the Trump administration for standing up to China. The speaker believes 400% tariffs would force China to negotiate, as Xi Jinping's leadership depends on employment. The speaker argues America, holding 39% of global consumables and 25% of the world's GDP, has the leverage to pressure China. The speaker advocates implementing 400% tariffs immediately, anticipating a swift resolution.

According to a report from the USTR, over 50 countries have contacted the president to start negotiations. These countries supposedly understand they bear much of the tariff burden. The speaker anticipates minimal impact on US consumers. The speaker believes the persistent long-run trade deficit is due to countries with very inelastic supply, such as China, dumping goods to create jobs.

Trump's tariffs have revealed that many designer brands are manufactured in China. The speaker states that Lululemon leggings, costing consumers $100, are made in China for only $5 to $6. The speaker believes that both Chinese manufacturers and American consumers are being exploited by these brands. The Chinese are making only a few dollars in profit, while Americans pay thousands for items costing very little to produce. The speaker concludes that Trump's tariffs have exposed this "lose-lose situation" for both the Chinese and American people.

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.

A young Chinese influencer on TikTok who speaks English posted a minute-and-a-half clip directed at Americans. The clip argues that “they rub you blind, and you thank them for it,” calling it a tragedy and a scam, and says Americans “don’t need a tariff” but “need a revolution.” It claims Americans’ garment and auto industries shipped jobs to China “not for diplomacy, not for peace,” but to exploit cheap labor. It says this hollowed out the middle class, crashed the working class, and pressured people to be proud while their future was sold “for profit.” It contrasts China’s outcomes with the United States: it states China made money but used it to build roads, lift millions out of poverty, fund healthcare, and raise living standards, adding that “we reinvest in our people,” including the influencer’s own family benefiting. It then asserts that Americans’ “oligarchs” bought yachts, private jets, mansions with golf course driveways, manipulated markets, dodged taxes, and poured billions into endless wars. The clip contrasts this with Americans facing “stagnant wages, crippling healthcare costs, cheap dopamine, debt,” and “flaked away public money in China while they pick your pocket.” The clip concludes that for forty years both China and the United States benefited from trade and manufacturing, but only one side used that wealth to build. It states, “This isn’t China’s fault. This is yours. You let this happen,” blaming Americans for accepting lies and then letting those responsible blame China for the resulting problems. It calls for Americans to “wake up” and “take your country back,” repeating that a revolution is needed. In the discussion afterward, the host notes a correction: “we haven’t spent billions on useless wars, we’ve spent trillions on useless wars.” Professor Mearsheimer responds that if the influencer were a student in his class giving that statement, he would “basically agree,” saying the influencer is correct. He adds that the message is in large part something Trump made as a candidate before the 2016, 2020, and 2024 elections, and that it helped get him elected in two of those three cases. He concludes that many people in the country feel exactly the way the Chinese gentleman feels about what has happened.

Check out these insane tariffs that Canada imposed on the US last year: 250% for milk, 291% for butter, and over 200% for whey and cheese. Meanwhile, we charged them far less for the same goods. Since Trump announced tariffs, everyone suddenly became an economics expert. I don't know how tariffs will affect the economy, and neither does anyone else. But I do know tariffs led Apple to build a new factory and hire 20,000 Americans. Honda is building Civics here instead of Mexico. Taiwan Semiconductor is investing $100 billion to build five chip factories in the US. Tariffs pressure China, Mexico, and Canada to stop the flow of fentanyl. Tariffs are one tactic in an economic strategy. Are we willing to tolerate short-term disruption for long-term gain? Macroeconomics are complicated and take time to play out. Are you listening to people who want the President to fail, even if it hurts America?

Chinese producers on social media are exposing who Trump's tariffs target. It's not American consumers or Chinese producers, but international corporations who have "sold out American prosperity for their own profits." Using Nike as an example, if Nike buys shoes for $10 and sells them for $100, a 25% tariff means Nike pays $2.50 to the US government per shoe. Nike's cost is now $12.50, netting them $87 per shoe. If Nike passes the cost to consumers, the shoe costs $103. Chinese producers on TikTok suggest it's better to buy directly from China, even with tariffs and shipping, costing $12.50. Tariffs are not meant to hurt consumers or China, but to protect American industry from corporations that prioritize profit. Those who complain about tariffs are investors in these companies who don't want Americans to realize they've been sold out.

Of course big business and Wall Street hate Trump's tariffs; they've been decimating American manufacturing for decades. These tariffs are helping to reverse that trend. We've seen companies like Milwaukee Tool, which sounds American but is owned by the Chinese Communist Party, compete against American companies. That's why we need tariffs to protect companies that actually want to manufacture in the United States. Don't believe the lies you read; polls show Americans overwhelmingly support tariffs.

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.

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.

A 4% tariff on China is insufficient; 400% is necessary because China doesn't abide by WTO rules, steals IP, and can't be litigated against in their courts. A 400% tariff would force China to negotiate and level the playing field. No administration has confronted China, but the Trump administration has. This speaker claims to represent millions of Americans whose IP has been stolen. While acknowledging the Chinese people's contributions, the speaker asserts their government cheats and steals. Xi Jinping's leadership depends on employment, and America, controlling 39% of consumables and 25% of global GDP, holds the leverage. The speaker advocates for immediate 400% tariffs, believing it will compel China to negotiate swiftly.

The speaker believes everyone agrees on the problems of American deindustrialization, the unfair burden on the middle class from foreign tariffs, and the need to address issues like fentanyl and border security. The speaker asserts that tariffs are a tool to fight for the American working class against Wall Street elites. The speaker claims tariffs have already been effective, citing zero people crossing the southern border, record low fentanyl levels, and $1.2 trillion in manufacturing investment since January 21. The speaker suggests the stock market's performance reflects Wall Street punishing the president for prioritizing the working class. The speaker concludes that people are grateful to have a president who puts them first and challenges Wall Street, noting Wall Street has favored Democrats in recent elections.

The rich are punishing Trump for siding with the American working class over them. When someone has the courage to wage class warfare on behalf of the American working class, everyone worries about the stock market. The stock market looks the way it does because the rich are punishing Trump for siding with the neglected and humiliated American working class. It is deeply unfair for the middle class to bear the burden of unfair tariffs from other countries. These tariffs have already worked, with $1.2 trillion in manufacturing invested in the U.S. since January 21. People cannot believe there is a president working for them, putting them first, and telling Wall Street to go screw itself. Wall Street picked the Democrats for the last three election cycles.

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.