Trump's trade war with Mexico and Canada threatens to derail the North American Free Trade Agreement, and threatens to upend the existing trade deal with Canada and Mexico. The impact on the economy and the global economy could be catastrophic.
00:00:22.960I think it's really worth highlighting here just how we are not talking about a repeat of Trump's first term tariffs in his first term.
00:00:34.800Trump definitely expanded the remit of U.S. tariffs, targeting, for instance, Chinese steel and other Chinese products, imposing about tariffs on around 300, 350 billion dollars worth of Chinese tariffs.
00:00:46.520That is peanuts compared to the disruption that Trump is promising now.
00:00:50.820Maybe he'll still pull back from the brink. We'll have to see what he does, obviously.
00:00:54.900But he's now talking about tariffs on close to two trillion dollars worth of goods just from Mexico and Canada.
00:01:03.320And China is our third biggest trading partner. And that could be subject to another 10 percent, as you mentioned.
00:01:08.460So really worth getting in people's heads that this is really not a similar thing that Trump did last time.
00:01:15.260It's a category different to say, I'm not going to just target these sectors that we want to bring back U.S. production of, but I'm going to target everything that these countries ship to the U.S., including, as that opening segment alluded to, things like avocados that we import from Mexico, but don't really have the capacity to make here in terms of what domestic consumers want.
00:01:36.280Okay. Welcome to our Black Friday, the Entrepreneurs Show.
00:01:41.620I want to bring in Philip Patrick, one about talking about entrepreneurs and how they get finance.
00:01:46.280But most importantly, the meltdown over the last couple of days on tariffs.
00:01:51.300And you're going to have, you know, President Trump's going to use tariffs to both negotiate and he's going to use tariffs to actually protect certain industries.
00:01:58.320But the discussion of tariffs on Mexico, Canada and China are three top partners.
00:02:05.740And Jeff Stein at The Washington Post nails it.
00:02:08.700You're talking, Philip, I don't know, two or three trillion dollars a year of trade.
00:02:15.400I mean, how disruptive do you think President Trump's economic policy is going to be, sir?
00:02:22.940Listen, I think they're designed to disrupt.
00:02:25.020And quite frankly, it's what we need to do, because we've been heading in the wrong direction for a long time.
00:02:30.740And let's not forget the Democrats freaked out about his tariffs the first time around, and they kept all of Trump's initial tariffs from his 2016 presidency.
00:02:41.960So, you know, they're screaming bloody murder, but, you know, they kept and they're running with it because they like the revenue it generated.
00:02:50.020I think stepping up tariffs will be necessary.
00:03:59.960Peter Navarro is clearly going to have a big role.
00:04:03.420Others that were there with Trump in 2016 that are economic nationalists.
00:04:07.880How does that – tell me what your thoughts are, because gold has been – we've had markets on fire because of the easy money and the vast overspending.
00:04:57.500He wants to bring budget deficits down to 3% of GDP.
00:05:01.020He wants to grow the economy, boost real GDP to 3% a year, and increase energy production.
00:05:08.140These are things that you and I have been screaming about for the last four years, and suddenly we have a team in place that's willing to make the tough decisions and put the policies forward.
00:05:18.980Like I said, it's a very tough job that they have.
00:05:22.840We're talking about cutting spending at $2 trillion a year.
00:05:26.940I don't see how they're going to do that initially.
00:05:29.620Tariffs will be useful longer term in generating revenue, but it's a tough, tough job.
00:05:35.660But there isn't a better team than the one that President Trump's assembled.
00:05:39.020So quietly confident but nervous about the short to medium term.
00:05:43.440Your thoughts on, they're clearly, you know, the debt ceiling we hit on January 2nd, there's going to be this firestorm.
00:05:53.620I think you're going to take the CR and kick it into, make it longer, like 90 days for President Trump to get his hands around it.
00:06:01.280How do you think the global capital markets, we have had, because they're saying the tariffs are going to be inflationary,
00:06:07.940and what Trump's going to try to do maybe with some tax cuts, inflationary.
00:06:10.660The bond market's not getting – there's no serious disruption, but it's getting a tad jiggy, right,
00:06:16.760because there's some whispering out there that this is going to be inflationary.
00:10:24.620For those that want to touch it, feel it, those that have cash in a bank account, they can purchase physical precious metals.
00:10:31.380They can take possession of those assets.
00:10:33.400And whenever they want to sell them back, birch gold are here to buy them back.
00:10:36.940But we also have people that have money sitting tax-deferred in retirement accounts, whether it's IRAs or 401Ks, sitting exposed to the markets.
00:10:45.760They have the option to roll over any portion.
00:11:19.320It's tangible, but it can function like paper.
00:11:22.160So whether you have cash in a bank account, funds in an IRA, we can work with physical precious metals and help them to protect any portion of their retirement accounts.
00:11:34.640Philip, where do people go and get you?
00:11:49.060People have questions, you know, the general information is general.
00:11:53.300I've given me, you know, 30,000 foot, a good overview.
00:11:56.260But there are, you know, precious metals specialists like myself that are there to hold people's hands, to guide them through the process, to answer specific questions, and to tailor-make the information.
00:12:07.500So it starts with the written information, birchgold.com forward slash Bannon.
00:12:12.820That'll get them access to the written information.
00:12:15.240They'll have contact information on how to reach our account representatives.
00:12:20.180And like I said, we take it from there, step by step by step.
00:12:23.640So I always tell the customer, they need to be comfortable.
00:12:56.320We're trying to explain to people of how the elites in this country, the globalist elites, are trying to destroy the dollar and doing it by their own greed and malfeasance.
00:13:04.780But Philip and I are working on another installment, probably be out, if not before the Christmas holidays, then right off to kick off a new year.
00:13:13.060Philip Patrick, honored to have you on here.
00:13:14.660Honored to have Birchgold as our oldest sponsor, sir.
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00:52:15.420I hope I have been a good fill for my dad
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