Trump WARNING: Trump Tariffs Coming (Do This ASAP)

You need to be anticipating rising costs. We're going to see prices go up if these tariffs go into effect. So plan your budget accordingly today right now guys on this quick video. I want to talk about Trump's tariffs and what this may mean for us as Americans and our wallets, right? And also I want to talk about what we should be doing right now ASAP. So on this video, I want to look at the pros and the cons of Trump's tariffs. I want to talk about the good and the bad just yesterday Trump addressed the World Economic Forum virtually. They meet once a year and been doing it since I think 1971. It's where 3,000 of the world's business leaders and the richest people on the planet get together for an economic forum. First. I want to jump into an article guys. This article is titled Trump tells DeVos elite to invest in US or face tariffs and I'll just go through a little bit of this President Donald Trump used an address Thursday to the World Economic Forum to promise global elites lower taxes if they bring manufacturing to the US and he threatened to impose tariffs if they don't speaking by video from the White House to the annual summit in DeVos Switzerland on his third full day in office Trump ran through a flurry of executive actions since swearing in and claim that he had a massive mandate for the American people to bring change and he laid out his approach to private investment in the US quote come make your product in America and will give you among the lowest taxes as any nation on Earth Trump said but if you don't make your product in America, which is your prerogative then very simply you will have to pay a tariff differing amounts, but a tariff which will direct hundreds of billions of dollars and even trillions into our Treasury to strengthen our economy and pay down debt under the Trump administration and then it goes on to say in the largest Hall in the DeVos Congress Center seating capacity 850 Trump's appearance drew nearly standing room only turnout the crowd included diplomats human human rights advocates academics and business leaders his return to the White House and his barrage of executive orders have been the talk of the town this week in the snowy Swiss town. So basically this article talks about the form and talks about you're going to face tariffs if you don't manufacture and make your goods in America. Now what I want you to keep in mind about these tariffs guys is that they are going to have a trickle-down effect for the average American citizen whether it's 25% tariffs on all imported goods from Canada and Mexico and 10% tariffs from on all imported goods from China, whatever it could be it's going to impact the price of goods and services that we have as Americans the first problem and I'll talk about the bad stuff first guys. The first problem is increased consumer prices for us, right? So the country that's sending their goods over to America. We're going to impose taxes tariffs on those goods coming over and that means the cost that that country is spending to send its goods to America is going to increase for that company in that other country. So take something like automobiles right many vehicles sold in the US are assembled using parts imported from Mexico and Canada, right? So these proposed tariffs could raise the average cost of that car because that country whoever's import whoever shipping that to America. They're going to raise the price of that to maybe offset the amount that they have to spend on the tariffs. So for a car it could increase the average price of American car by two or $3,000 and that would affect new and used car markets all through America, right as well as repair services and all that even everyday goods, right? There's a wide range of consumer products and electronics and groceries and appliances that are imported from say Mexico. And if you slap a high tariff on those things, those things are going to go up in prices. So for us as everyday average Americans, we need to be ready and prepared for the fact that prices may go up. Now. I'm talking about the things that are negative that may go bad, right? When you talking about imposing high tariffs on imported goods to America, we got to think about jobs as well, right? While we know that these tariffs aim to sort of protect domestic industries in America, they may lead to job losses in different sectors that rely on materials coming from other nations because the increased cost of production is going to go up because when the prices of those things coming into America actually go up, it means that the cost of production has gone up. And so perhaps demand is going to go down and when demand goes down, you're going to lose some workers, right? You may have to get rid of some workers to stay in business. So that's something to think about as well. These increased tariffs could cost some jobs as well. Not to mention the obvious, which is inflation, which is the rise in prices, right? The rise in the prices for imported goods could contribute to overall inflation going up as well, which obviously when inflation goes up, it reduces the purchasing power for us. Not to mention there's trade relations you got to think about, market volatility, you know, in terms of trade relations, you know, there could be some harm or disruption to the positive relationships between countries when you slap tariffs on. The Canadian dollar, Mexican peso, and other currencies could see a decline in the value of their currency as compared to the American dollar. So there's all types of issues, right? And we didn't even talk about global trade, the sort of dynamics that happen when you impose these tariffs on, you know, very important trading partners. You got some perhaps some retaliation that may happen that could further have an impact on the price of goods that are coming in from other countries. So straining diplomatic relations could be an issue as well. So there's all types of potential problems that we should be preparing for and getting ready for as consumer. But then there's also some good things. Let's talk about some of the positives that make it could result from these tariffs that are looking to be imposed on imports coming into America. When I say the good things, I'm talking about things like domestic manufacturing, encouraging businesses to bring their businesses to America, and incentivizing the production of goods right here in America. When you impose tariffs on these imported goods, that makes foreign products more expensive, right? But that also encourages companies to manufacture within the US, which was part of the message that Trump was trying to send the other foreign leaders in yesterday's meeting, right? So this approach is intended to basically revitalize and uplift domestic production and domestic right here in America manufacturing, which could lead to more jobs here in America at some point as companies are incentivized to actually produce their goods right here in America. It also could help America rely less on foreign manufacturing. And so when America can reduce its reliance on these foreign supply chains, it means less vulnerability to America when you got all this geopolitical stuff going on these wars being fought. If we're totally reliant on 50% of our goods coming from China and all of a sudden we there's some problems with China. Now China has a stronghold on us as a country because we rely on China for most of it. We can rely and have some of the stuff from a domestic standpoint right here in America. America won't be so vulnerable to all these geopolitical tensions and wars and global crisis that are happening around the world. So this strategy of imposing tariffs or increasing tariffs is intended To sort of enhance national security by ensuring that the means of production much of the means of production is right here in America. And also it addresses some of the trade imbalances that have long taken place negotiating fairer trade deals on the side of America. So this this threat of tariffs can be used as sort of leverage to negotiate more favorable trade terms or favorable trade agreements with Other countries right and sort of correct some of the imbalances that we've seen. So these are benefits of these tariffs as well. So there's a little bit of trade-off guys. There's some balance and it's important for us as American citizens to know the flip side. Yes, higher prices, but maybe more domestic production and manufacturing maybe more. Yes, maybe lose jobs because prices increase, but maybe increase jobs here in America. Maybe you have higher potential trade tensions between countries, but maybe you also at the same time you have other countries who are willing to bring their businesses to America and manufacture things in America. So there's trade-offs when you're talking about levying these taxes on imports these higher taxes on imports. The key is what do you want to sacrifice America? Do you want what do you want to pay two or three thousand dollars more for the price of a new car in return? Maybe you have more manufacturing here in America and less reliance on foreign goods. Look, I don't know and you may be saying hey, wait, Trump doesn't really have the approval to impose tariffs. Listen under the US Constitution the right to impose the authority to impose tariffs is really with the Congress but over time over the last hundred two hundred years Congress has delegated certain powers to the Executive branch to the president to impose tariffs under specific circumstances and those circumstances are laid out right there's legislative provisions that allow the executive branch to actually impose these tariffs. I'm not going to go into all those but just know that that's part of the reason you see the president having sort of sole power to kind of managing control and levy these tariffs. So how do we prepare our own personal finances for these potential changes? First thing is this you need to be anticipating rising cost when the cost of imported goods is increased, especially for you know, food items and cars and things we use on a regular basis. They're likely to go up in price. So we're going to see prices go up if these tariffs actually go into effect. So plan your budget accordingly today right now be thinking about the fact that a you may be paying an extra two or three hundred hours a month in the next year or so for your normal goods that you normally use on a regular basis and you might consider making any major purchases sooner rather than later, right considering big ticket items like appliances and cars and things like that that are heavily reliant on imported goods to actually to make and manufacture and you may consider shifting your spending to domestically produced goods, which may not be affected by these tariffs that may be levy so that you can avoid increased cost associated with the imported goods. Now, you may not know about things that are made in America, right? Maybe you need to do some research to find out what's made in America. What can I start purchasing that's that's homegrown opposed to these things that are going to go up because of these tariffs and of course as always guys you have to review your budget right adjust your budget accordingly and be ready for an increase in these prices and and more than anything stay informed keep on top of the news related to these tariffs and when they're going to be implemented and by staying on top of the news you can understand which goods are going to be affected and that's going to help you make better decisions about your purchasing as a consumer. We have to take the responsibility and say look I have to be a conscientious consumer. I can't just be out buying anything. I got a hey, is this made somewhere else made in China made in Canada? What's going on? What's how is my good that I'm purchasing produced and then maybe be a little more conscious about buying America, right? It's not a bad thing to buy America. Remember that was a big thing a decade or two or three ago, right? But maybe we need to get back to that. So we were less affected by the impact of these tariffs in terms of prices going up but by taking just a few steps, you can better your position and manage some of the financial implications that may come about from these terrorists. So I just want to drop this jewel on you guys to say, hey, look be on the lookout and take steps accordingly before this stuff really goes down right now. There's been kind of a pause in it, but there's a lot of threats out there right now and yesterday at that World Economic Forum, you saw a few so hey listen, if you got value from this video hit the like button and drop a comment and let me know your thought increase tariffs on imported goods good for America bad for America and let me know what you plan to do to prepare yourself. Hey, the best person who's going to take care of the old you is the young you guys take good care of yourself and take care of other people until the next video. Peace.