About this episode
Trump imposes tariffs on Mexico, Canada, and China. Market turmoil, stock drops, rising dollar, higher consumer prices, and economic impacts. Upgrade your wardrobe instantly and save 20% off with the code Peter at https://www.publicrec.com/ Control Body Odor ANYWHERE with Mando and get $5 off your Starter Pack (that’s over 40% off) with promo GOLD at https://shopmando.com In this episode, Peter Schiff breaks down the significant impact of Donald Trump's tariffs on the global markets and American consumers. Peter discusses the drastic fall in stock markets, with the Dow down nearly 600 points, and the surge in the dollar index. He explains how the tariffs are fundamentally taxes on Americans rather than on Mexican or Canadian businesses. Highlighting the effects on various sectors, particularly avocados and maple syrup imports, Peter underscores that the burden of these tariffs will ultimately fall on American consumers as prices rise across the board. He also delves into the broader economic implications, arguing that these tariffs could lead to higher consumer costs, weakened economic growth, and a potential recession. Throughout the episode, Peter emphasizes the shortsightedness of the belief that tariffs will benefit the U.S. economy and criticizes the lack of economic understanding among currency traders and the public. 🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com 🔔 Free Reports & Market Updates: https://www.europac.com 🟡 Schiff Gold News: https://www.schiffgold.com/news 📘 Book Store: https://schiffradio.com/books 👉 Follow Peter Schiff on Twitter: https://twitter.com/peterschiff 👉 Follow Peter Schiff on Instagram: https://instagram.com/peterschiff 👉 Follow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficial 👉 Follow Peter Schiff on Facebook: https://facebook.com/peterschiff Chapters: 00:00 Introduction and Market Impact of Trump's Tariffs 02:10 Global Currency Reactions and Economic Misconceptions 04:57 The Real Cost of Tariffs on American Consumers 08:14 Avocado and Maple Syrup: Case Studies in Tariff Impact 11:21 The Flawed Logic of Trade Wars 15:11 Comparative Advantage and Trade Basics 18:55 The Apple and Orange Farmer Analogy 23:05 The Consequences of High Tariffs 28:47 Potential Economic Collapse from Import Restrictions 33:56 Impact of High Tariffs on America 34:45 Global Repercussions of US Tariffs 38:44 Economic Data and Consumer Spending 40:57 Canadian Gold Mining Boom 46:33 Consequences of Tariffs on Goods 51:28 Gold and Silver Investment Tips 58:44 Bitcoin and Cryptocurrency Insights 01:01:32 Final Thoughts and Recommendations #tariffs #tradewar #trump Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy