Tariffs, Tariffs Everywhere-What Will it Do to the US Economy, Inflation & Jobs

Tariff Announcement: President Trump announced a ten percent baseline tariff on virtually every country, with specific tariffs for individual countries ranging from ten to forty-nine percent. This is the highest rate of tariffs the United States has had in place since 1930. Political and Economic Implications: The announcement has caused anxiety and concern among people, with Democrats criticizing the move and Republicans defending it. The podcast discusses the potential outcomes, including the possibility of other countries lowering their tariffs in response, which could be beneficial for the American economy. Potential Risks: There are significant risks if other countries retaliate with their own tariffs, leading to a trade war and increased inflation. The impact on various industries, such as the automotive industry, is discussed, with concerns about rising prices for both new and used cars. Economic Analysis: The Tax Foundation's analysis predicts that if the tariffs remain in effect, imports will fall by twenty-eight percent, and the US GDP will shrink by 0.8 percent over the next decade. The tariffs could result in a significant tax increase for American consumers. Political Consequences: The outcome of these tariffs could influence the 2026 midterm elections, with potential repercussions for the Republican party if the economy suffers. Senator Cruz expresses hope for a positive outcome but acknowledges the high risks involved. Please Hit Subscribe to this podcast Right Now. Also Please Subscribe to the 47 Morning Update with Ben Ferguson and the Ben Ferguson Show Podcast Wherever You get You're Podcasts. Thanks for Listening #seanhannity #hannity #marklevin #levin #charliekirk #megynkelly #tucker #tuckercarlson #glennbeck #benshapiro #shapiro #trump #sexton #bucksexton#rushlimbaugh #limbaugh #whitehouse #senate #congress #thehouse #democrats#republicans #conservative #senator #congressman #congressmen #congresswoman #capitol #president #vicepresident #POTUS #presidentoftheunitedstatesofamerica#SCOTUS #Supremecourt #DonaldTrump #PresidentDonaldTrump #DT #TedCruz #Benferguson #Verdict #justicecorrupted #UnwokeHowtoDefeatCulturalMarxisminAmericaYouTube: https://www.youtube.com/@VerdictwithTedCruzSee omnystudio.com/listener for privacy information.