4.9 • 3.8K Ratings
🗓️ 4 March 2025
⏱️ 12 minutes
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0:29.7 | We're in a supply chain trade war with China. It's an act of war and it's going to hurt the |
0:35.6 | American consumer. I'm Michael Popock. |
0:39.3 | You're on the Midas Touch Network and legal AF. |
0:46.1 | We woke up and we're at war because Donald Trump has decided that is the way to American prosperity. |
0:51.3 | Every independent economist has said this trade war with China, which has broadened as of today, will actually be an indirect tax on the American consumer up to |
0:54.9 | $1,200 a year, the largest tax increase in our history. Because as Warren Buffett, the famous |
1:00.9 | Oracle of Omaha, has just recently said, there's no ferry, somebody's got to pay the tariff, |
1:07.6 | and it ends up being the American consumer. Now let's talk about the trade war. |
1:11.4 | Donald Trump started it presumably in order because he was semi-successful in a trade war with China |
1:17.3 | the first time around. That's a lie. He ended up taxing them up to 3%. Now it's up to 39% on |
1:24.0 | Chinese imports and the Chinese have responded. It started out as, well, we'll just tax natural gas and call some farming equipment. |
1:32.8 | Now, as of today, they've announced a wholesale tariff on all agriculture farm imports. |
1:42.2 | China is the number one trading partner for the Midwest and our farm community, |
1:48.1 | right? All of that, all of the wheat, the corn, the chicken, the poultry, the fruits, the vegetables, |
1:54.1 | all go to China. It is the reason the farmers of America are kept to float. Donald Trump |
2:00.4 | very callously just posted on social media and said, good luck, farmers. |
2:04.4 | You'll be making more products for Americans. |
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