Trump Threatens 100 Percent Tariffs On Any ‘BRICS’ Nation That Abandons US Dollar
‘They can go find another sucker!’
SHOCKING: CNBC host makes a ‘far-right’ case for Trump’s tariffs
According to Donald Trump, the most beautiful word in the dictionary — a word he says is even “more beautiful than love” — is “tariff.”
And he’s wasting no time putting that word to use, vowing to place new and additional tariffs on Canada, Mexico, and China. The president-elect’s plan is to put a 25% tariff on products from Mexico and Canada and a 35% tariff on all Chinese imports.
“I know there’s mixed feelings about tariffs,” Sara Gonzales of “Sara Gonzales Unfiltered” comments. “There was a point in time where I understood the argument of ‘Well, it’s a free market.’”
“Well, it’s really not, because the way that China has manipulated the system, the way that they have basically slaves, engaging in slave labor, and everything is so much cheaper, and all of that,” she continues, adding, “The free market has gotten very skewed.”
Another major argument against tariffs is that “they raise prices across the board” — but even CNBC is disputing that supposed “fact.”
“If politics were a video game, and the president were a character you could play, tariffs would be your most powerful economic move,” Jon Fortt said in a segment on “The Squawk Box.” “But what’s a tariff? Basically tax any business has to pay to bring goods into a country.”
“The USA is uniquely a reasonably big country with a huge consumer class by global standards, so most every sizable company in the world needs to sell here. The argument against tariffs is that they just tax the U.S. consumer,” he continued. “What tariffs can also do is encourage companies to avoid the extra charge by making things here in the U.S., or they can level the playing field for U.S. manufacturers who are getting crushed by cheap imports.”
“So you can’t just swallow these headlines that claim tariffs are just attacks on U.S. consumers. If tariffs always dramatically raise prices for consumers, why didn’t that happen in 2018 and 2019? The truth is that the U.S. has been so focused on making it easy to import goods from other countries, that we’ve made it reflexive for other countries to tariff U.S. products while we let overseas goods flood in, and tariffs can’t stop that,” he added.
Gonzales is shocked that CNBC let Fortt defend Trump’s tariffs.
“Wow,” she comments. “The far-right CNBC repeating these far-right-wing extremist talking points that tariffs are not necessarily the end of the world.”
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‘Rocket fuel for the economy’: Why Trump’s plan to raise tariffs and abolish income tax is brilliant
In Donald Trump’s bombshell interview on "The Joe Rogan Experience," the president-elect floated the idea of abolishing the income tax as well as raising tariffs.
While Glenn Beck has historically been against heavy tariffs, Trump may have won “The Glenn Beck Program” host over with his explanation.
“I’ve always been against tariffs; however, I might be wrong,” Glenn says. “Donald Trump is making a good case when he’s talking about getting rid of the income tax because tariffs will raise the prices of things, especially if he does it the way he’s talking about doing it.”
However, if Trump lowers the income tax simultaneously, the economy would boom.
“We could make up that deficit and become a very powerful nation again. Tell me I’m wrong,” Glenn challenges economic expert and Heritage Foundation visiting fellow Peter St Onge.
“That’s absolutely correct,” St Onge replies. “The vast majority of economists go after tariffs, they attack Trump over tariffs, and I think they are looking at the trees for the forest here.”
“If you replace a tariff, which is basically a sales tax, but it’s one that focuses on imported goods, if you replace that with either reducing or, in our dream scenario, abolishing the entire income tax, it is absolutely rocket fuel for the economy,” he explains, noting that Trump’s plan is reminiscent of the 1800s.
“That was before we had an income tax, was also before we had a Fed, and back then, the federal government had to live off tariffs,” St Onge says. “That was the greatest period not only of economic growth but of cultural achievement.”
“It was really the golden age of humanity, and the key there was that we did not have an income tax, we did not have a regulatory state, we did not have a Fed. So if Trump can take us back there, and all we have to do is like an 8% sales tax on Chinese stocks, that is the deal of the century,” he adds.
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EU signals desperation to avoid trade war with Trump, desire to buy American gas
President-elect Donald Trump is still months away from taking office, yet the European Union already appears desperate to cut a deal with him.
Ursula von der Leyen, president of the European Commission, addressed members of the European Council in Budapest, Hungary, Friday, signaling a desire to avoid a trade war with the United States and to switch from Russian to American gas.
When asked how she intends to negotiate with Trump on trade, Leyen answered, "I think first of all: Engage. Very important what we have started yesterday."
Leyen was referencing her phone call with Trump Thursday, where she apparently congratulated him on his landslide electoral victory. The German politician noted on X that they discussed defense, Ukraine, trade, and energy.
"Secondly, discuss about common interests. And there are common interests that we have," continued Leyen. "Then go into negotiations."
'They are going to have to pay a big price.'
Leyen said that liquid natural gas was among the common interests she briefly discussed with Trump this week, noting that Europe still gets "a lot of LNG via Russia, from Russia."
According to the Institute for Energy Economics and Financial Analysis, in the first half of 2024, Europe sourced 48% of its LNG imports from U.S., 16% from Russia, 11% from Algeria, 10% from Qatar, and 4% from Nigeria and Norway.
"Why not replace it by American LNG, which is cheaper for us and brings down our energy prices?" said Leyen. "It's something where we can get into a discussion, also [where] our trade deficit is concerned."
The U.S. Census Bureau indicated Tuesday that the trade deficit with the EU in September was $23.8 billion, contributing to the year-to-date trade deficit of $173 billion.
Trump indicated in October that the EU would have to "pay a big price" for not buying enough American exports, reported Reuters.
"I'll tell you what, the European Union sounds so nice, so lovely, right? All the nice European little countries that get together," said Trump. "They don't take our cars. They don't take our farm products. They sell millions and millions of cars in the United States. No, no, no, they are going to have to pay a big price."
Politico noted that Leyen's maneuver to dodge the steep tariffs of 10% or more that Trump has threatened by promising to buy LNG is largely political theater granted the European Commission is virtually powerless when it comes to dictating European companies' purchases of gas.
"The EU doesn't buy LNG — there's a global LNG market and LNG buyers have their own contract," Laurent Ruseckas, executive director for gas markets at commodities giant S&P Global, told Politico. "It's certainly possible to do a memorandum of understanding to talk about increasing purchases but ultimately in the past that's been a way to put a political wrapper around something that was delivered by the market. And the EU is buying as much LNG currently as the market needs."
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Why The American Founders Would Adore Trump’s Tariffs Plan
What Donald Trump told Joe Rogan is correct: tariffs are the best way to raise federal revenue in a constitutional system like ours.Trump’s Economic Policies Are Far Superior To Harris’ But Could Still Be Better
There's no question Trump's economic policies are better than Harris', but if he wins the election, these are areas he should reconsider.Trump targets NO INCOME TAX in final election push — but is it possible?
Last week the mother of all interviews happened when Donald Trump, arguably the most famous man on the planet, appeared on “The Joe Rogan Experience,” the top-ranked podcast on the planet.
In their three-hour interview, Rogan and Trump broached a number of issues, but one that’s getting a ton of media attention is Trump’s reiterated claims that he will potentially end income taxes by substituting tariffs.
Glenn Beck and Stu Burguiere discuss the possibility of such a drastic change to America’s tax infrastructure.
As for repealing the 16th Amendment, Stu says, “I am a huge fan.”
Glenn shares Stu’s enthusiasm and thinks that “it’s the right time” to do it.
“[Trump] is talking about tariffs in a different way. … You build your cars outside of the United States? Okay, we're going to put a tariff on it to keep cars that are made here in the United States cheaper,” says Glenn, adding that this is the first time he’s ever “started to agree with tariffs.”
“We must rebuild our infrastructure. We have to have manufacturing here in America,” he says, pointing to the fact that America “made the planes and the tanks and the Jeeps … that brought the whole world into Germany” during WWII.
“Tariffs have a chance of saying, ‘Look, you want to sell your stuff? Fine, make it in America. … We'll give you incentives to bring your company, your manufacturing here so we have these plants, we are producing our own steel, we're doing these things.' Meanwhile, we're also going to drill, baby, drill," which will “bring our energy costs down,” Glenn explains.
While Stu doesn’t love the idea of tariffs, he does love what they would do to the magnitude of our current federal government.
“The size of the government that would be required for a government to be funded by tariffs is the size of a government I like,” he says, adding that “it’s a lot smaller than the one we have.”
“Yes!” Glenn agrees. “We were all about that up until the 16th Amendment.”
However, the question still remains: Will Trump actually do it?
Even though almost all politicians promise tax cuts leading up to an election, Glenn thinks Trump “is actually going to do a lot of these things” he’s talked about during his campaign, as long as “he has the Senate and the House.”
But he also has to “turn it around quickly.”
To hear more of the conversation, watch the clip above.
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