Trump's Steel Tariff Could Save Americans MILLIONS

Chris breaks down Trump's bold plan to slap 25% tariffs on steel and aluminum—reciprocal moves designed to force fairer global trade. He dives into how these measures extend to sectors like computer chips and pharmaceuticals, exposing why American drug prices soar: U.S. companies must recoup billions spent on research and development, while buyers abroad negotiate lower costs under socialized medicine. This tariff war could shift global trade dynamics as nations start negotiating back. www.watchdogonwallstreet.com

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact that we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
All right, Trump is going to be putting on the
the tariffs steel and aluminum twenty five percent. These are
reciprocal tariffs. What does that mean? They're smacking us up
side the head, So we're going to smack them back
up side the head again. I know, I know there's

(00:38):
a lot of free traders out there, and I'm a
free trader too, but I like free and fair trade.
So you're going to smack us and we're not going
to smack you back. Yeah, that's been happening from some time.
And be honest as well, people certain certain items we
actually tearraff from certain places and they don't tear back,

(01:00):
and I'm sure there's going to be reciprocal back and
forth with that. Again, just simplified the whole bloody thing.
Trade deal should be on one page. I won't tear
if your stuff, you don't tear off my stuff. Away
we go. But it's a little bit more complicated than that. Now,
other things are going to be coming down the pike, possibly,

(01:21):
computer chips, copper oil, gas, pharmaceuticals. Now here's one I've
been calling for for a very long period of time. Again,
people in this country jump up and down, politicians, you know,
talking about the high price of drugs here in the
United States. Okay. The reason for that is that we

(01:46):
here in the United States pay for all of the
research and development costs. When a pharmaceutical company wants to
develop a drug, it can take it's a long process.
It's a very long process. Development costs to a billion
dollars over a ten year period of time. Now, what

(02:10):
would be the incentive of creating a new drug if
you cannot recoup the costs? Well, again, the rest of
the world rests the world. When they buy these pharmaceuticals
from our companies, they negotiate a very low price for
the drugs because they've got socialized medicine in many of

(02:30):
these places. So who ends up paying the higher prices
We do. Yeah, Yeah, drugs that are manufactured developed here
in the United States. We pay more than the rest
of the world does. And it's not even close. This
is where you know, I've said this for some time.
I said this, this is another place where we the

(02:52):
people are getting ripped off. Pharmaceutical companies again, they don't
give it. Damn they don't give them long as they're
recouping their costs. They don't care. It's like a big,
you know, funnel of money come in their way. So
why you know what, you know, we'll charge here in
the United States this and you know India is gonna
only pay this amount of money. So what it's just

(03:14):
money coming in. No big deal. Now we start doing
something when it comes to tariffs. When it again, I
don't know how this is going to be worked out.
We shall see. But already we're starting to see the
effects coming out of Europe. Donald Trump has already kind

(03:34):
of laid the law down as far as their concern
based upon their vat tax, the value add attacks, which
again we pay the price for that when our goods
are over there, and some of the other tariffs that
they have. The European Union has already offered to lower
tariffs on US automobiles being imported there. It's it's not

(03:59):
even close of those old well over ten percent, and
I think it's two point five percent that we tear
if their cars coming into the United States. So again
that's a step in the right direction. A lot of
these things are going to be worked out. There's got
to be a big time reordering. Obviously. Donald Trump was

(04:19):
not beaten to the same drum as the the old
types with the Charney sip and parties and the CEOs
that could care less. Quite frankly, that's over and again,
so far, so good on this supposedly scary tariff war.
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