Common sense explanation imo

NEW: CNBC host verbally stunned after billionaire Howard Lutnick explains how Trump's tariffs will be used as a negotiation tactic to make the U.S. a "bunch of money."

Lutnick shot down the media narrative that tariffs would increase inflation.

"It's a bargaining chip. We can't… pic.twitter.com/J3MJakntYc

— Collin Rugg (@CollinRugg) October 15, 2024

Buy American.

"Inflation is always and everywhere a monetary phenomenon." - Milton Friedman

Is he now blacklisted from CNBC?

Nonsense.

Economic ignorance.

I love it when the media look like a deer in headlights when someone comes on their show and just speaks common sense

HoustonAg2106 said:

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I love it when the media look like a deer in headlights when someone comes on their show and just speaks common sense

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That didn't happen in this clip.

Tariffs are liberal idiocy.

Remove regulations that make it harder/more expensive to manufacture here, cut/gut spending everywhere, cut Corp (and personal) tax rates, etc. The conservative answer. Not liberalism to try and fix what liberalism ****ed up in the first place.

Tariffs are a tax on AMERICANS. China doesn't pay for it, we do.

So you guys are effectively arguing for a tax hike.

there's a middle ground in there somewhere. There's zero reason we should just sit back and let other countries hit our goods with 100% or other crazy tariffs.

aTmAg said:

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Tariffs are a tax on AMERICANS. China doesn't pay for it, we do.

So you guys are effectively arguing for a tax hike.

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See, I keep hearing this. Even the dumbass prognosticators (that are wrong) say Trump's tariff's could be a 10% "tax" on Americans. You realize Kamala has said she is just going to straight up raise taxes by letting the Trump tax cuts expire, right? You realize that is MORE than the 10%, right?

Complete lack of the big picture.

Max Stonetrail said:

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aTmAg said:

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Tariffs are a tax on AMERICANS. China doesn't pay for it, we do.

So you guys are effectively arguing for a tax hike.

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See, I keep hearing this. Even the dumbass prognosticators (that are wrong) say Trump's tariff's could be a 10% "tax" on Americans. You realize Kamala has said she is just going to straight up raise taxes by letting the Trump tax cuts expire, right? You realize that is MORE than the 10%, right?

Complete lack of the big picture.

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Where did he claim Kamala had answers?

Whataboutism at its finest. Kamala is a stupid, vapid ho. She's not part of the discussion.

Populism has "Conservatives" claiming tariffs are good.

If you watched Trump yesterday, what he is arguing for is not a 10% tariff. What is is wanting is 100% tarrif to either force production stateside or cut tarrif on our goods. The is consumer wouldn't see the tarrif

I don't know for a fact, but the hosts of Squack Box seem to lean right......but everyone else on CNBC is a wild leftist.

dirtylondrie712 said:

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I don't know for a fact, but the hosts of Squack Box seem to lean right......but everyone else on CNBC is a wild leftist.

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I think it's one left, one right, and Becky as the neutral hand slapper.

Throwing tariffs out there to "level the playing field" by themselves is dumb economic policy and will lead to inflation. Using the threat of tariffs to force negotiations that result in leveling the playing field is smart business that will open new markets for American goods. There is no reason why we should put up with unfair economic tactics used by our trading partners. Access to sell goods in America is the holy grail for most other economies. We should never be on the losing end of deals to make that access possible.

BigRobSA said:

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Tariffs are liberal idiocy.

Remove regulations that make it harder/more expensive to manufacture here, cut/gut spending everywhere, cut Corp (and personal) tax rates, etc. The conservative answer. Not liberalism to try and fix what liberalism ****ed up in the first place.

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Tariffs in a vacuum are bad. Tariffs in the current world are good when used as a weapon to get rid of other tariffs.

all the right pigs are squealing about tariffs

BigRobSA said:

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Tariffs are liberal idiocy.

Remove regulations that make it harder/more expensive to manufacture here, cut/gut spending everywhere, cut Corp (and personal) tax rates, etc. The conservative answer. Not liberalism to try and fix what liberalism ****ed up in the first place.

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This is only true if other countries are playing by the same rules. They aren't.

BigRobSA said:

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Tariffs are liberal idiocy.

Remove regulations that make it harder/more expensive to manufacture here, cut/gut spending everywhere, cut Corp (and personal) tax rates, etc. The conservative answer. Not liberalism to try and fix what liberalism ****ed up in the first place.

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I agree that they are bad, but if you allow others to tariff you then we have tariffs.

Threaten them and say I'll take mine off as soon as you take yours off, and then we are good. We have to be tough. We shouldn't allow other countries to outsmart us, and crush our industry. We have no reason to allow this.

Old May Banker said:

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Populism has "Conservatives" claiming tariffs are good.

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Well, there are already tariffs in place being used against us. Is it better to be ideological pure and just bend over for other countries?

If you want true conservative free trade, you have to utilize the leverage you have in order to get other countries to play by the same rules.

I tend to believe Trump would use tariffs as a bargaining chip, but he does a poor job of setting out on his position. He certainly talks about reciprocity (ensuring that US manufacturers have a fair chance to compete), but doesn't make it clear that this is the goal, rather than pure protectionist tariffs (seeking to just totally block foreign competition so that products will be produced in America regardless of cost to the economy). He could, and should, do better on talking about this.

Teslag said:

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BigRobSA said:

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Tariffs are liberal idiocy.

Remove regulations that make it harder/more expensive to manufacture here, cut/gut spending everywhere, cut Corp (and personal) tax rates, etc. The conservative answer. Not liberalism to try and fix what liberalism ****ed up in the first place.

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Tariffs in a vacuum are bad. Tariffs in the current world are good when used as a weapon to get rid of other tariffs.

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Ding ding ding.

Those of you saying they're de facto bad are wrong. If tariffs didn't exist anywhere else, then yes, they're bad. But they do. He said that it doesn't make sense to place tariffs on anything we don't also sell, but on things we do sell, yes.

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If you watched Trump yesterday, what he is arguing for is not a 10% tariff. What is is wanting is 100% tarrif to either force production stateside or cut tarrif on our goods. The is consumer wouldn't see the tarrif

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How do you apply a tariff that a consumer wouldn't see? If a product is on the shelf and its price hasn't changed, there is no tariff.

Since Trump's talking about import tariffs, you need to recognize that importers pay it. China is an exporter of goods to the U.S. not an importer. The importers are U.S. manufacturers/labelers, wholesalers and major retailers who pay the tariffs from, ultimately, consumer sales.

As a bargaining chip the threat of major tariffs is virtually worthless. Unless liberally applied it has no teeth, and once applied it roils markets to the point of dysfunction, spurring untold economic misery for everyone.

Kvetch said:

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Old May Banker said:

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Populism has "Conservatives" claiming tariffs are good.

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Well, there are already tariffs in place being used against us. Is it better to be ideological pure and just bend over for other countries?

If you want true conservative free trade, you have to utilize the leverage you have in order to get other countries to play by the same rules.

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I don't necessarily disagree and am a strong proponent of using the "Bully Pulpit." I think Trump could do a much better job explaining that, but it is what it is.

My comment was more in jest of how malleable folks "convictions" become depending on the horse they're riding.

BigRobSA said:

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Tariffs are liberal idiocy.

Remove regulations that make it harder/more expensive to manufacture here, cut/gut spending everywhere, cut Corp (and personal) tax rates, etc. The conservative answer. Not liberalism to try and fix what liberalism ****ed up in the first place.

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Can you or anyone else admit that there is no "free market" at play when you are dealing with someone like China? Free market economics requires two relatively honest parties operating in good faith...that goes out the window when you are dealing with godless scumbag POS countries that can employ slave labor while we can't.

Aggie95 said:

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there's a middle ground in there somewhere. There's zero reason we should just sit back and let other countries hit our goods with 100% or other crazy tariffs.

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Why should we screw our citizens in retaliation for other nations screwing their citizens? As Walter Williams used to say, that is like 2 guys sitting in a boat and one guy shooting a hole in his side of the boat in retaliation for the other guy doing the same to his.

If you really want to hit back, then undercut them with production on our side. We can consume our OWN goods with low (non-tariffed) prices while their citizens get screwed. To do that, we need to get government out of the way so that we can undercut them.

Max Stonetrail said:

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aTmAg said:

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Tariffs are a tax on AMERICANS. China doesn't pay for it, we do.

So you guys are effectively arguing for a tax hike.

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See, I keep hearing this. Even the dumbass prognosticators (that are wrong) say Trump's tariff's could be a 10% "tax" on Americans. You realize Kamala has said she is just going to straight up raise taxes by letting the Trump tax cuts expire, right? You realize that is MORE than the 10%, right?

Complete lack of the big picture.

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I'm not saying to support Harris over Trump. She'd be a disaster.

I'm arguing for Trump to win and then NOT screw us with tariffs after he does.

aTmAg said:

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Aggie95 said:

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there's a middle ground in there somewhere. There's zero reason we should just sit back and let other countries hit our goods with 100% or other crazy tariffs.

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Why should we screw our citizens in retaliation for other nations screwing their citizens? As Walter Williams used to say, that is like 2 guys sitting in a boat and one guy shooting a hole in his side of the boat in retaliation for the other guy doing the same to his.

If you really want to hit back, then undercut them with production on our side. We can consume our OWN goods with low (non-tariffed) prices while their citizens get screwed. To do that, we need to get government out of the way so that we can undercut them.

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Importing countless jobs to China and other evil crap countries who employ mass slave labor IS SCREWING OUR CITIZENS...ROYALLY. Go drive around the country and see it for your own eyes.

How is ruining the livelihoods of millions of Americans not the ultimate screw job?

True "Big L" libertarians are the cosplay furries of the political world imo.

BCO07 said:

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If you watched Trump yesterday, what he is arguing for is not a 10% tariff. What is is wanting is 100% tarrif to either force production stateside or cut tarrif on our goods. The is consumer wouldn't see the tarrif

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The American consumer would be forced to pay higher prices because goods cost more to produce here. Otherwise, they would already be producing here and wouldn't need to be strong armed by tariffs to do so. So we still pay and endure less purchasing power.

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If you really want to hit back, then undercut them with production on our side.

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Really? You serious, Clark?

Why don't you do a quick comparison of costs alone between the two and then come back and tell us just how American companies can undercut the Chinese on costs.

BigRobSA said:

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Remove regulations that make it harder/more expensive to manufacture here, cut/gut spending everywhere, cut Corp (and personal) tax rates, etc. The conservative answer. Not liberalism to try and fix what liberalism ****ed up in the first place.

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What if you do all those things, but American companies still cant compete, because other governments subsidize their production?

We are not an on even playing field. We are not all playing the game with the same market principles/rules.

saying 'tariffs are bad' is like saying 'casts are bad'...because they dont cure cancer. They might not cure cancer, but they are an effective tool for a broken arm.

They are one tool, which can effectively be used for certain situations, which is what is being explained in the video.

The only large country with consumer demand can write its own rules.

Something to consider even if you are an advocate for free trade.