Charles Feldman: US Correspondent on the affects of Donald Trump's tariffs

The effects of Donald Trump's tariff hikes are already being felt in the US and around the world.  

The US President's updated trade policy is now in effect for more than 90 trading partners.  

New Zealand goods are grappling with a 15% tariff at the American border.  

US Correspondent Charles Feldman told Mike Hosking the income will pay for Trump's tax cuts for the wealthy at the cost of consumers.  

He says prices for almost anything Americans get as an imported product will rise.  

LISTEN ABOVE 

See omnystudio.com/listener for privacy information.

Episode Transcript

Speaker 1 (00:00):
So it's not Charles Fellman, morning to you.

Speaker 2 (00:01):
Mike, Hey, how were you very well?

Speaker 1 (00:03):
Indeed, tariffs are in we're sort of where are we
at officially? We just wait and see how it plays
out officially.

Speaker 2 (00:12):
Well exactly. But you know, look, what President Trump has
done is he has single handedly changed the way if
trade is conducted around the world and the way it
has been conducted for more than a century. I mean,
that's quite a feat. Whether one agrees with it or not,

(00:32):
it's actually remarkable. Now, the effects of that are yet
to be determined. You know, we're talking about on average
tariff rate in excess of about eighteen percent, some countries
a lot more, some a little bit less. But however
you look at it, this is going to cost American

(00:52):
consumers more money. It is going to cost people in
other countries more money as well.

Speaker 1 (00:57):
How does this play out to the extent Trump will
They're bringing in billions, billions and billions and billions in tariffs.
Where's that money going? And as I stand in the
aisle paying more for the Coca cola, will I ever
see it?

Speaker 2 (01:11):
No? This is my good question. This money goes into
the treasury of the United States and largely will help
pay for the tax cuts that President Trump got through Congress.
Tax cuts mostly that will benefit people who are very wealthy,
so they make up that shortfall. The revenue coming in
from these tariffs will go toward that. As for the

(01:33):
average consumer, what's going to happen, and it's already starting
to happen, is prices that the supermarket will start creeping up.
Prices for automobiles will go up. Prices for almost anything
that Americans get as an imported product will rise.

Speaker 1 (01:49):
Okay, update meing on is Trump and Putin go? And
if it is go, where when? And is Zelenski there?

Speaker 2 (01:58):
Well? I The Kremlin at least seems to indicate that
there is a meeting sometime next week, probably in the
United Arab Emirates, between the Putin and Trump. One of
the sticking points, it seems to me anyway, is that
the White House has always said that Zelenski from Ukraine,

(02:18):
President Zolensky would have to be there. No indication from
the Kremlin that that's the case. Actually quite the opposite, unreal.

Speaker 1 (02:28):
All right, we'll see how applies that. By the way,
they rounded up the Democrats and takes us year to
where they've gone to.

Speaker 2 (02:34):
Well, yeah, the Democrats that have fled to, you know,
states like New York and California where I am in Illinois,
and now the FBI apparently is getting involved to try
to round them up. It's not at all clear whether
or not there's any legal basis for rounding them up.
You know, state legislatures are governed by state law, not
federal law, and if a particular member of the state

(02:58):
legislature decides to flee to another state, I'm not quite
sure what federal law the FBI has the authority to
use to bring them back or do anything to them
for that matter.

Speaker 1 (03:12):
ChEls, good catch up, Charles Feldman, Well next week, Ken,
We'll see what happens over the weekend, I guess.

Speaker 2 (03:17):
And that.

Speaker 1 (03:17):
For more from the Mic Asking Breakfast, listen live to
news Talks. It'd be from six am weekdays, or follow
the podcast on iHeartRadio.