Trump’s $2 Trillion Tariff Gambit: What It Means for YOU
Published: 2024-11-17
Status:
Available
|
Analyzed
Published: 2024-11-17
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
John Deere products exported back to the US from Mexico will face a 200% tariff under Trump's proposed policies.
"Trump has vowed to punish the Machinery manufacturer John Deer for its plans to move some production to Mexico by taxing anything deer tries to export back to the US at 200%"
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Other goods imported from Mexico into the US will be subject to a 100% tariff under Trump's proposals.
"for other goods from Mexico Trump has suggested a more diplomatic rate of 100%"
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Donald Trump plans to impose a 200% tariff on John Deere products exported back to the US if produced in Mexico.
"Trump has vowed to punish the Machinery manufacturer John Deer for its plans to move some production to Mexico by taxing anything deer tries to export back to the US at 200%"
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Donald Trump plans to implement tariffs at levels not seen since the 19th century.
"Trump wants to crank them up to levels not seen since the 19th century."
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Imports from China into the US will face a base tariff rate of 80% under Trump's proposed policies.
"and imports from China would be subject to a base rate of 80%"
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Donald Trump has suggested a 100% tariff on other goods imported from Mexico.
"for other goods from Mexico Trump has suggested a more diplomatic rate of 100%"
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Donald Trump's strategy is to set tariffs extremely high to incentivize foreign companies to build manufacturing facilities within the US.
"Trump says 'you make the Tariff so high so horrible so obnoxious that foreign companies will come right away and build facilities in the US.'"
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All other goods imported into the US from countries other than Mexico and China will incur a 20% tariff.
"Everything else that the US imports from the rest of the world would be hit with a tariff of 20%"
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Donald Trump plans to impose an 80% base tariff on imports from China.
"and imports from China would be subject to a base rate of 80%"
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Donald Trump plans to impose a 200% tariff on John Deere products exported to the US if they move production to Mexico.
"Trump has vowed to punish the Machinery manufacturer John Deer for its plans to move some production to Mexico by taxing anything deer tries to export back to the US at 200%."
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Trump's proposed tariffs are estimated to cost the average household over $2,600 annually, resulting in a 4.1% decrease in after-tax income for the lowest earning quintile.
"Trump's proposed tariffs would cost the media and household more than $2,600 per year which would represent an after tax income fall of about 4.1% % for the lowest earning quinti"
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Donald Trump plans to impose a 20% tariff on all other US imports from the rest of the world.
"Everything else that the US imports from the rest of the world would be hit with a tariff of 20%"
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Proposed tariffs include 100% on Mexican goods, 80% on Chinese goods, and 20% on all other imports.
"for other goods from Mexico Trump has suggested a more diplomatic rate of 100% and imports from China would be subject to a base rate of 80% Everything else that the US imports from the rest of the world would be hit with a tariff of 20%."
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The top 1% of income earners in the US are projected to see a net gain in income due to proposed tax cuts offsetting tariff-related losses.
"meanwhile the top 1% would experience net gains in income because their losses from tariffs would be more than offset by Trump's proposed tax cuts"
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Trump's proposed tariffs are estimated to cost the average household over $2,600 per year.
"Trump's proposed tariffs would cost the media and household more than $2,600 per year"
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Donald Trump proposes using tariffs to completely replace the federal income tax.
"Trump's proposal for tariffs to not merely pay for tax cuts but to entirely replace the federal income tax for good"
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Donald Trump's proposed tariffs are estimated to cost the average household over $2,600 annually, leading to a 4.1% to 6.3% after-tax income fall for the lowest earners.
"Trump's proposed tariffs would cost the media and household more than $2,600 per year which would represent an after tax income fall of about 4.1% for the lowest earning quintile though this would be a 6.3% fall in after tax income"
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Trump's proposed tariffs and tax cuts would lead to a 6.3% fall in after-tax income for the lowest earners and net gains for the top 1%.
"for the lowest earning quintile though this would be a 6.3% fall in after tax income Meanwhile the top 1% would experience net gains in income because their losses from tariffs would be more than offset by Trump's proposed tax cuts"
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The top 1% of income earners are projected to see net income gains due to Trump's proposed tax cuts offsetting tariff increases.
"the top 1% would experience net gains in income because their losses from tariffs would be more than offset by Trump's proposed tax cuts"
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The Peterson Institute for International Economics suggests that US tariff revenue will peak at approximately 50%, with higher rates leading to a decrease in revenue.
"Research published by the Peterson Institute of international economics shows that Revenue tops out at around 50% go higher than this and revenue starts falling"
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Donald Trump intends to use tariffs to completely replace federal income tax.
"Trump's proposal for tariffs to not merely pay for tax cuts but to entirely replace the federal income tax for good"
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At a 50% tariff rate on all US imports, projected revenue is $780 billion, which is less than 40% of current income tax revenue.
"at this optimal rate of 50% tariffs on everything that the US Imports Revenue Peaks at $780 billion Which is less than 40% of what income taxes bring in"
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Donald Trump proposes to use tariffs to completely replace the federal income tax.
"Trump's proposal for tariffs to not merely pay for tax cuts but to entirely replace the federal income tax for good"
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The maximum federal revenue achievable through tariffs is estimated to be $780 billion, with an optimal tariff rate of 50%.
"research published by the Peterson Institute of international economics shows that Revenue tops out at around 50% go higher than this and revenue starts falling at this optimal rate of 50% tariffs on everything that the US Imports Revenue Peaks at $780 billion"
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The lowest earning quintile in the US is predicted to experience an 8.5% decrease in after-tax income due to proposed tariff and tax policies.
"the lowest earning quintile would see their after tax income Fall by 8.5%"
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Tariff revenue for the US is predicted to peak at $780 billion (less than 40% of current income tax revenue) at a 50% tariff rate, with revenue declining if rates go higher.
"Research published by the Peterson Institute of international economics shows that Revenue tops out at around 50% go higher than this and revenue starts falling at this optimal rate of 50% tariffs on everything that the US Imports Revenue Peaks at $780 billion Which is less than 40% of what income taxes bring in"
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The highest earning quintile in the US is expected to see a 2.2% net gain in income from a combination of tax cuts and tariff increases.
"for the highest earning quintile for whom this combination of tax cuts and tariff increases result in a net gain of 2.2%"
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Voluntary currency devaluation by other countries in response to US tariffs would lead to a substantial strengthening of the US dollar.
"this would effectively export the negative side effects of tariffs in the US by turning them into inflation in the exporting country the Practical effect of this would be to strengthen the US dollar substantially"
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Implementing Trump's proposed tax cuts and tariff increases would lead to an 8.5% after-tax income fall for the lowest earners, with the highest earners seeing a 2.2% net gain.
"the lowest earning quintile would see their after tax income Fall by 8.5% Everyone would see their after tax incomes fall except for the highest earning quintile for whom this combination of tax cuts and tariff increases result in a net gain of 2.2%"
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The strengthening of the US dollar due to tariffs could accelerate a global shift away from the US-led world order and the US dollar, influenced by initiatives like BRICS.
"this would make the rest of the world want to move away from the US Le World Order and the US dollar a process that's already underway through initiatives like the bricks"
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The top 1% of earners in the US are projected to experience an 11.6% increase in after-tax income.
"and for the top 1% after tax income would increase by 11.6%"
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The top 1% of earners are projected to see an 11.6% increase in after-tax income under Trump's proposed tax and tariff policies.
"for the top 1% after tax income would increase by 11.6%"
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The proposed tariff regime is expected to counter the downward pressure on the dollar caused by money printing, but the extent is uncertain.
"the proposed tariff regime should counter this though to what extent it's hard to say"
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Proposed US tariffs could lead to a global shift away from the US dollar and the US-led world order, with initiatives like BRICS already contributing to this trend.
"this would make the rest of the world want to move away from the US Le World Order and the US dollar a process that's already underway through initiatives like the bricks"
Pending
Proposed tariffs could accelerate the global shift away from the US-led world order and the US dollar, potentially boosted by initiatives like BRICS.
"this would make the rest of the world want to move away from the US Le World Order and the US dollar a process that's already underway through initiatives like the bricks"
Pending
The proposed US tariff regime is expected to counter the downward pressure on the dollar from money printing, though the extent of this effect is uncertain.
"the proposed tariff regime should counter this though to what extent it's hard to say"
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Donald Trump's new tariff plan is described as unprecedented and the 'greatest tariffs in the history of the world'.
"Trump's new tariff plan is literally incredible Nobody has ever seen anything like it before they'll be the greatest tariffs in the history of the world"
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The 'Make America Great Again' slogan under a new tariff regime sounds more aligned with the economic policies of the 1890s than the 1980s.
"MAA was a nostalgic throwback to President Reagan's 1980 campaign slogan but this time around it sounds more 1890 than 1980"
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