Trump's nuclear trade war targets China - but will blow back on USA
Donald Trump's trade war went nuclear, hitting China with 145% tariffs, aimed at economic decoupling. This is already backfiring on the US economy, which is heavily reliant on Chinese imports. The volatility also fueled a crisis in the bond market, with Treasury yields rising. Ben Norton explains.
VIDEO: https://www.youtube.com/watch?v=u9k7132Iyeo
Trump advisor reveals tariff strategy - Force countries to pay tribute to maintain US empire: https://www.youtube.com/watch?v=VnajhDMAWVA
Topics
0:00 Economic war
0:51 Tariffs of 145% on China
1:56 China defends itself
2:41 Decoupling
3:49 (CLIP) Howard Lutnick attacks China
4:14 Scott Bessent on China
4:48 US trade with China
7:05 USA will lose trade war
8:02 China's manufacturing dominance
9:47 China's trade
10:33 High risk
11:35 Trump's arrogance
12:06 (CLIP) Trump: countries are "kissing my ass"
12:18 Mafia behavior
13:02 US empire demands tribute
13:35 (CLIP) Stephen Miran: US demands tribute
13:59 Threatening the world
15:55 China stands up
16:34 Trump admin's China hawks
17:47 (CLIP) Marco Rubio on new cold war
18:30 Biden admin targeted China too
20:01 US bond market shock
21:39 Treasury note yields
25:01 Interest payments on US national debt
26:05 Hedge fund margin calls
28:35 Trump's billionaires
28:53 Elon Musk
29:42 Bill Ackman
29:59 Jamie Dimon
30:35 Market manipulation?
32:21 Trump meme coins
32:58 Outro
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33:50
Tariffs are part of Trump's big plan to save US dollar dominance. Will it work?
US President Donald Trump wants to use tariffs as part of a plan to save the dominance of the dollar as the global reserve currency. His top economic advisor Stephen Miran outlined the Trump administration's strategy to force other countries to pay the USA to maintain its imperial financial and military order. Ben Norton explains the idea behind the hypothetical "Mar-a-Lago Accord".
VIDEO: https://www.youtube.com/watch?v=VnajhDMAWVA
Topics
0:00 Trump's top economic advisor
0:42 Trump wants to save dollar hegemony
1:04 (CLIP) Trump on US dollar
1:21 Dedollarization
2:01 BRICS
2:46 (CLIP) Trump threatens BRICS
3:15 Tariffs
3:50 Bretton Woods system
4:38 Keynes' Bancor proposal
5:07 US exorbitant privilege
5:39 Nixon shock, gold standard, petrodollar
6:43 Financialization
7:35 Billionaires
8:01 Deindustrialization
8:10 Current account deficit
8:33 Trump advisor Stephen Miran
9:17 Overvaluation of US dollar
10:30 Stephen Miran's plan
11:16 Mar-a-Lago Accord
12:59 Economic nuclear war
14:07 Trump admin's goals
15:20 Paying for US empire
17:30 Trump admin's 5 demands
20:25 (CLIP) Sharing costs of US empire
21:13 China
21:32 (CLIP) Decoupling from China
21:55 Hudson Institute
23:58 US financial crisis of 2008
25:42 Manufacturing
26:02 Trump hits China with 104% tariffs
27:23 Economic game of chicken
27:50 Can USA win trade war?
30:04 (CLIP) Miran: US has leverage over China
30:59 China vows "to fight to the end"
32:00 US economic dependence on China
33:00 Chinese exports
34:01 China's top export destinations
34:36 ASEAN is China's top trading partner
35:16 Indonesia
36:08 China is world's top trading partner
36:54 China's trade with Russia
38:34 Can USA reindustrialize?
38:52 (CLIP) "We can make stuff at home"
39:09 Reindustrialization is very difficult
41:40 Trade war will hurt Americans
42:17 Moving taxes from rich to poor
43:15 Do other countries pay US tariffs?
43:34 Dollar falls
44:38 Yield on US Treasury securities
46:10 Mortgage rate spread
46:42 Credit card interest rate
47:14 Interest payments on US national debt
48:37 Backlash on US economy
49:51 Danger of blowback
50:31 Plaza Accord revisited
51:16 Changes in global economy
52:50 China learned from Japan crisis
54:33 Imperial hubris
55:12 Vietnam in a multipolar world
58:07 Outro
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58:51
Trump's tariffs are part of a class war on his own base
Donald Trump's tariffs are part of a class war against many of his own supporters. The US president plans to slash income taxes on the rich and corporations and use tariffs to shift the burden of taxation onto the poor and working class. Radhika Desai is joined by economist Michael Hudson to discuss.
VIDEO: https://www.youtube.com/watch?v=ms_7EkiJbGo
This is part of the program Geopolitical Economy Hour. You can watch other episodes of the show here: https://youtube.com/playlist?list=PLDAi0NdlN8hMl9DkPLikDDGccibhYHnDP
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55:18
Trump's tariffs make no sense, and will backfire hard on the US economy
In what he called "Liberation Day", Donald Trump imposed heavy tariffs on countries around the world, falsely claiming they were "reciprocal". In reality, the taxes on imports were based on the US trade deficit with other nations. Ben Norton explains how the Trump administration's economic policies are contradictory and will backfire hard on the US economy, fueling inflation while failing to re-industrialize.
VIDEO: https://www.youtube.com/watch?v=nv5ZkxQvsz8
Topics
0:00 Trump imposes heavy tariffs
0:27 (CLIP) Trump's "Liberation Day"
0:52 Trump's global trade war
1:18 (CLIP) Tariff is most beautiful world
1:41 New tariff rates
3:20 Backfiring
4:04 How the tariffs were calculated
7:08 Retaliation
8:45 Role of US dollar dominance
9:30 (CLIP) Trump on de-dollarization
9:48 (CLIP) Trump threatens BRICS
10:17 US balance of payments
12:37 Alternative to US dollar
13:14 Dumbest trade war in history
13:42 Reindustrialization
14:32 Financialization
17:53 Inflation
20:00 Coffee, fruit, & vegetables
22:06 Imports from China
24:02 Imports from Vietnam
25:26 Imports of electronics
27:51 Industrial policy
33:41 Moving tax burden from rich to poor
37:02 Outro
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37:58
Trump admin tells Americans: Stop expecting cheap products, inflation is here to stay
US Treasury Secretary Scott Bessent, a billionaire hedge fund manager who worked for George Soros, insists, “Access to cheap goods is not the essence of the American dream”. The Donald Trump administration knows its tariffs will result in higher inflation. Products will become more expensive as the US tries to economically decouple from China. Ben Norton explains.
VIDEO: https://www.youtube.com/watch?v=8DOCZjS_MVc
Topics
0:00 Inflation is coming back
0:41 US Treasury Secretary Scott Bessent
1:57 Billionaires
2:34 (CLIP) Bessent: no more cheap goods
2:49 Stagnant real wages
3:54 How China exported deflation
6:20 Myth of the "American Dream"
6:55 End of income mobility in USA
8:04 US life expectancy falls
9:13 Trump's billionaire-filled administration
9:39 Inflation rises
10:11 Richest 10% drive US economy
11:07 Corruption
11:35 Scapegoating
12:15 Recession risks
13:39 Housing is unaffordable
15:40 Elon Musk
16:13 Blackstone
17:13 Fake populism
18:00 Outro
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