March 10, 2025 • 6 mins
Are tariffs the answer to America’s economic future? Christopher Markowski dives into Donald Trump’s tariff strategy, questioning its impact on businesses and free trade. While Trump plays a high-stakes poker game to boost U.S. manufacturing, uncertainty disrupts small businesses and economic growth. Markowski, a free trade advocate, explores the pros, cons, and the need for clear rules to stabilize the economy. www.watchdogonwallstreet.com
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
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 it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
Coming to grips with tariffs again. I've made it perfectly
clear that I'm not a fan. I'm not a fan
of tariffs. Haven't been a fen of tariffs for a
long time. I end watching and I'm trying to get
your arms around trying to understand Donald Trump and the
method to his madness. I do think he's up to something.
Speaker 1 (00:33):
I do.
Speaker 2 (00:34):
Let me tell you something that many people aren't recognizing.
The media is covering. Wow, it's just fueling all sorts
of support for the liberals and patriotic fervor in Canada.
And there was a big rally in Mexico City yesterday.
And I'm watching these things and I'm saying to myself,
these are first and foremost they've been astroturfs in Mexico.
(00:57):
They were union groups busting in very different working groups
that hold this rally. These countries are none too happy,
none too happy. They're scared. They know, they know that
they're in an untenable position when it comes to the
United States. Now again, I've mentioned this before, and a
(01:22):
big time free trader, big time free trader, I think
that we should be signing free trade deals with countries
from all over the globe. And free trade deals can
be written on one page. Let's cut the nonsense with
the nonsensical tariffs out there both sides, and let's just
do business with one another. That's the right way to
(01:45):
do things. And quite frankly, it hasn't been that way.
And I get that. I do. There are certain people
out there, centers, guys, great deal of respect for it.
They're not wrong. Okay, when he comes out and he
talks about how these tariffs are going to be hurting
certain businesses here in the United States, he's not wrong.
(02:08):
They are. They are. And some of the things that
Trump is doing I don't understand. I completely disagree with.
In the same way that George W. Bush and Barack
Obama bailed out the automakers, while all of a sudden,
are you giving a tariff break just for automakers? How
(02:32):
is that fair? How is that right? You're picking and
choosing winners and losers. I don't like that, and again
it is it's it's quite disruptive. It's quite disruptive, and
many businesses out there are saying themselves, She's what am
I going to have to do next? But again, the
(02:53):
the chaos makes it difficult, makes it difficult for businesses
to plan moving forward. Therefore, they're going to be less
apt to expand they're going to be less apt to spend,
they're going to be less apt to higher So what
we need to have happened sooner rather than later, is
(03:18):
we need to have some idea of what's going to
take place and some sort of permanent structure so these
businesses can go out there and make these decisions. One
of the things to take a look at Trump's first term,
you had a big disconnect when he implemented tariffs at
that point in time, but he also at the same
time pushed his tax cuts forward, which goosed the economy
(03:42):
without a doubt. Now there's been some talk and I
think you want to have bonus appreciation for small businesses
out there yet that can be healthful, But knowing what
the rules are, what the rules are going to be,
that I think that's what a lot of businesses are
clamoring for right now, and it's one of the reasons
(04:03):
why there is such a disconnect. I'm gonna be honest,
I am not. I'm not. I'm not a believer in terriffs.
I'm not. I think it's the wrong way to go.
I know, you know, many people to treat with the
Trump administration feel that, you know, we can get rid
of federal income taxes, we can go to a tariff
(04:25):
base system.
Speaker 1 (04:27):
Ah.
Speaker 2 (04:29):
Again, I'm not. I'm not sold on it. I'm not
sold on it, and quite frankly, I don't really believe
that the president is either. I do think that this
is you want to call it a you know, a
game of poker that he's playing right now, and he
thinks that he's got, you know, much better cards, and
we do. We have much better cards than the rest
(04:53):
of the world. And if we can force this to
work and push you know, people in a certain directions,
be beneficial here, beneficial to workers here in the United States.
Bring more manufacturing back to the United States, which is happening,
natural which has been happening, you know, simply because we
have you know, much cheaper energy than other manufacturing are
(05:16):
traditionally manufacturing areas like Germany. How do you have start
a business? Is there? With the costs that are involved.
We have a lot going for us. We have a
great hand, if you will. We want to make the
you know, Alge the poker. Trump knows this. But we
need to get on with it already. Need to get
(05:40):
on with it already. Businesses want to know what's going
to happen next. They don't want to wake up in
the morning. And I always talk about the minefield, the
small business minefield. Mines are all the regulations and rules
that the government puts out there. Okay, you have to
know what they are. You have to know what they are.
You have to spend money to comply with all of
these things. Once you think you get it down, you
(06:01):
wake up the next morning and they move the minds around.
That's not efficient. It costs money. It takes away from
the overall animal spirits of the economy. I do believe
that they know this. I did it, and I'm hoping.
I'm hoping we get some semblance of order. What's going
to be taking place in the short term. Watchdog on
(06:25):
Wall Street dot Com
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
Coming to grips with tariffs again. I've made it perfectly
clear that I'm not a fan. I'm not a fan
of tariffs. Haven't been a fen of tariffs for a
long time. I end watching and I'm trying to get
your arms around trying to understand Donald Trump and the
method to his madness. I do think he's up to something.
Speaker 1 (00:33):
I do.
Speaker 2 (00:34):
Let me tell you something that many people aren't recognizing.
The media is covering. Wow, it's just fueling all sorts
of support for the liberals and patriotic fervor in Canada.
And there was a big rally in Mexico City yesterday.
And I'm watching these things and I'm saying to myself,
these are first and foremost they've been astroturfs in Mexico.
(00:57):
They were union groups busting in very different working groups
that hold this rally. These countries are none too happy,
none too happy. They're scared. They know, they know that
they're in an untenable position when it comes to the
United States. Now again, I've mentioned this before, and a
(01:22):
big time free trader, big time free trader, I think
that we should be signing free trade deals with countries
from all over the globe. And free trade deals can
be written on one page. Let's cut the nonsense with
the nonsensical tariffs out there both sides, and let's just
do business with one another. That's the right way to
(01:45):
do things. And quite frankly, it hasn't been that way.
And I get that. I do. There are certain people
out there, centers, guys, great deal of respect for it.
They're not wrong. Okay, when he comes out and he
talks about how these tariffs are going to be hurting
certain businesses here in the United States, he's not wrong.
(02:08):
They are. They are. And some of the things that
Trump is doing I don't understand. I completely disagree with.
In the same way that George W. Bush and Barack
Obama bailed out the automakers, while all of a sudden,
are you giving a tariff break just for automakers? How
(02:32):
is that fair? How is that right? You're picking and
choosing winners and losers. I don't like that, and again
it is it's it's quite disruptive. It's quite disruptive, and
many businesses out there are saying themselves, She's what am
I going to have to do next? But again, the
(02:53):
the chaos makes it difficult, makes it difficult for businesses
to plan moving forward. Therefore, they're going to be less
apt to expand they're going to be less apt to spend,
they're going to be less apt to higher So what
we need to have happened sooner rather than later, is
(03:18):
we need to have some idea of what's going to
take place and some sort of permanent structure so these
businesses can go out there and make these decisions. One
of the things to take a look at Trump's first term,
you had a big disconnect when he implemented tariffs at
that point in time, but he also at the same
time pushed his tax cuts forward, which goosed the economy
(03:42):
without a doubt. Now there's been some talk and I
think you want to have bonus appreciation for small businesses
out there yet that can be healthful, But knowing what
the rules are, what the rules are going to be,
that I think that's what a lot of businesses are
clamoring for right now, and it's one of the reasons
(04:03):
why there is such a disconnect. I'm gonna be honest,
I am not. I'm not. I'm not a believer in terriffs.
I'm not. I think it's the wrong way to go.
I know, you know, many people to treat with the
Trump administration feel that, you know, we can get rid
of federal income taxes, we can go to a tariff
(04:25):
base system.
Speaker 1 (04:27):
Ah.
Speaker 2 (04:29):
Again, I'm not. I'm not sold on it. I'm not
sold on it, and quite frankly, I don't really believe
that the president is either. I do think that this
is you want to call it a you know, a
game of poker that he's playing right now, and he
thinks that he's got, you know, much better cards, and
we do. We have much better cards than the rest
(04:53):
of the world. And if we can force this to
work and push you know, people in a certain directions,
be beneficial here, beneficial to workers here in the United States.
Bring more manufacturing back to the United States, which is happening,
natural which has been happening, you know, simply because we
have you know, much cheaper energy than other manufacturing are
(05:16):
traditionally manufacturing areas like Germany. How do you have start
a business? Is there? With the costs that are involved.
We have a lot going for us. We have a
great hand, if you will. We want to make the
you know, Alge the poker. Trump knows this. But we
need to get on with it already. Need to get
(05:40):
on with it already. Businesses want to know what's going
to happen next. They don't want to wake up in
the morning. And I always talk about the minefield, the
small business minefield. Mines are all the regulations and rules
that the government puts out there. Okay, you have to
know what they are. You have to know what they are.
You have to spend money to comply with all of
these things. Once you think you get it down, you
(06:01):
wake up the next morning and they move the minds around.
That's not efficient. It costs money. It takes away from
the overall animal spirits of the economy. I do believe
that they know this. I did it, and I'm hoping.
I'm hoping we get some semblance of order. What's going
to be taking place in the short term. Watchdog on
(06:25):
Wall Street dot Com
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