Tariffs Don’t Fix Trade—They Just Tax Americans

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All the promises about reshoring, weakening China, and making other nations “pay” have collapsed under the numbers. China found new markets, allies followed suit, and U.S. importers are stuck with the bill. Until spending is cut and policy becomes targeted, this is just another self-inflicted economic wound.

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 it will have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
I know, I know, it's Markowski talking about tariffs again.
I think this has been quite a big topic over
the course of the year. And listen, the reason why
I cover this. There are a lot of good people
out there, for whatever reason it may be, have they
just don't understand. They don't understand tariffs. They don't understand

(00:39):
what's going on, and it's unfortunate. But everything that I
said was going to happen when it came to tariffs,
it's happening. We're at a point in time right now
where we just took a look at China's export numbers
and they're records. They're blowing away numbers. We haven't we

(01:03):
haven't tamped down on China. Certain countries that we used
to have better trading relationships with, in particular Canada, are
changing their supply chains away from the United States to China.
And they're not the only one. Everything that we're looking

(01:29):
at right now, I see the Supreme Court could really
step in and save the Trump administration with these tariffs.
Trump's first term is actually a pretty good piece today
by Phil Graham and Donald Bordeaux. Led China to shift

(01:51):
its exports to other countries. Second term Trump's tariffs. Chinese
exports yes fell by six sixty nine percent from February
through September, but Chinese exports to other regions rose over
the same months. Chinese exports to Association of South East

(02:13):
Asian Nation member states were up by sixty one percent,
to Japan and Korea by forty one percent, Africa thirty
five percent, European Union twenty eight percent, India and Latin
America each by more than ten percent. China is going
to close out twenty twenty five having exported eight point
three percent more than last year. Canadian exports the United

(02:40):
States were in August. We're ten percent below the twenty
twenty four average, but they're tying. They're selling more to China, India, Indonesia,
the UAE. They just signed a new trade expansion agreement
with the EU. India. India's recent easing of tensions with

(03:01):
Beijing as fueling it's exports to China again it's not working.
And I don't understand. And I listen, I know you
people mean well out there, you think that all of
a sudden, I know we talked about this yesterday, we
talked about toys. You think that these factories are going

(03:24):
to come back to the United States and you're gonna
have factories popping up here, there and everywhere. It's not
going to happen. That's not happening. You're not gonna see
this massive wave of these business coming back. I get it.
With certain things that it makes a lot of sense.
We're talking about okay, you know areas whereas important pharmaceutical

(03:46):
certain items that you need to bring back that we
should have been involved with. Maybe we should have mind
a little bit more. And again it's our own environmental
regulations when it came to certain rare earth minerals. But again,
you may not need as many rare earth minerals if
we're not going to be doing as many electric cars.
All of these things have played a part. But this
is why it has to be more surgical than across

(04:08):
the board. And this again, I told you this was
going to happen as well. The idea out there, and
again all due respect all of you people that really
believe in this policy, that you think that other nations
are paying this, they're not. They're not. Right now, you

(04:28):
take a look at the numbers importers are paying terrorists importers. So,
like we said earlier, it's a tax on us, it's
a tax on us. And again that's his way of

(04:48):
raising taxes and talking about all this money that's coming in,
you know, and kind of disguising it. Okay, well there's
some three D chess for you, but as far as
it making the slightest bit of a dent, as far
as our fiscal situation is concerned, come on, people, Well,
the only way that's going to be solved is by

(05:09):
spending cuts. And as I talked about earlier, you know,
we're back to putting earmarks and more pork into spending bills.
Watchdog on Wallstreet dot com