2/3/25: Trade war begins, economic chaos, total disaster

The David Pakman Show

David Pakman

News, Politics

4.8 • 6.3K Ratings

🗓️ 3 February 2025

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

-- On the Show: -- Donald Trump's trade war begins, with new tariffs on Canada, Mexico, and China, sending the American economy into a tailspin -- Donald Trump admits that his tariffs will indeed cause pain for the average American -- Republican Congresswoman Nancy Mace admits that Trump's tariffs will cause prices to go up, and Fox News runs a crawl of all the items that will be affected by Trump's tariffs -- Discussing the items that will increase in price under Trump's tariffs that Americans might want to stock up on now -- Examining Greg Palast's viral article claiming that Donald Trump did not really defeat Kamala Harris in the 2024 election -- Elon Musk has received access to the central federal government payments system, arguably a form of industrial espionage -- Canada is targeting red states in retaliation to Donald Trump's tariffs -- Donald Trump's trade war is increasingly making other countries hate us, with Canadians booing the US National Anthem at multiple recent sporting events -- On the Bonus Show: Trump's legal basis for tariffs makes no sense, Trump admin exempts air traffic controllers from resignation offer, and much more... 📜 Trust & Will: Save 10% on your estate planning at https://trustandwill.com/pakman 🥂 ZBiotics: Use code PAKMAN for 15% OFF at https://sponsr.is/zbiotics_pakman_1224 🩳 SHEATH Underwear: Code PAKMAN for 20% OFF at https://sheathunderwear.com/pakman ⚠️ Ground News: Get 50% OFF their unlimited access Vantage plan at https://ground.news/pakman 🔊 Babbel language learning: Get up to 60% OFF at https://babbel.com/pakman 🛡️ Incogni lets you control your personal data! Get 60% off their annual plan: http://incogni.com/pakman -- Become a Member: https://davidpakman.com/membership -- Become a Patron: https://www.patreon.com/davidpakmanshow -- Get David's Books: https://davidpakman.com/echo -- TDPS Subreddit: http://www.reddit.com/r/thedavidpakmanshow -- David on Bluesky: http://www.davidpakman.com/bluesky -- David on Facebook: http://www.facebook.com/davidpakmanshow Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the show, everybody.
0:08.9	The tariffs and the trade war are on.
0:12.0	We are going to spend a bunch of time today talking about it.
0:14.3	Let me mention, by the way, I appreciate the concern from last week that I am ill, that
0:20.0	I have taken ill and that I am sick because of the
0:23.3	coloring and shine under my eyes. I just have kind of crappy lighting when I'm on the road
0:29.7	and I'm still trying to find the right setup for travel where the lighting looks better
0:36.8	but I don't have to stuff my suitcase full of multiple
0:40.7	lights. So in any case, I'm going to continue, but I appreciate the concern. I am feeling fine.
0:47.4	Let's get into it. Over the weekend, President Donald Trump signed an order slapping, power
0:53.9	slapping, a 10% tariff on imports
0:58.2	from China, additional onto what was already there, a whopping 25% on goods from Mexico
1:06.8	and Canada, that includes oil, that includes natural gas, that includes electricity from Canada,
1:14.7	and this triggered immediate retaliation from Canada, matching Donald Trump's tariffs with their own
1:22.7	on about $155 billion worth of American imports.
1:28.3	This is a trade war that echoes the same chaotic approach from Donald Trump's first term, where
1:37.7	the tough talk and the unilateral nonsensical action soured relationships that took decades to build. We'll get into the
1:48.4	relationships part in a little bit. Now, I've said before, and I am going to say it again,
1:54.0	trade policy doesn't have to be a zero-sum game. Tariffs aren't objectively bad. The question is, what are we trying to achieve
2:05.2	and what is the dynamic effect going to be once we account for how our trading partners may or
2:12.0	will retaliate? Now, you know, we saw booing of the American, the U.S. national anthem at multiple Canadian sporting events over the weekend.
2:22.4	We'll get to that later.
	...

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