is the Iran war and and the fact and and the one big beautiful bill act and the tariffs which is these are ways in which we havedemonstrated as a country uh we put our
technology since 2000 it's true trade has played a much more dominant role uh as tariff bar tariffs and and uh restraints on trade have been relaxed uh but technology is the big story we also have new technologies coming on that are going to accelerate
what we saw between Trump and Xi Jinping. When he hit out really hard on the tariffs and created a functional boycott, and the Chinese hit back with their own tariffs , and then the critical minerals licensing regime. And Trump
In the modern history of the US, there is one consumer product that we are basically not allowed to buy because of high tariffs , and that's Chinese electric cars. And you might wonder Is that a good thing 'cause we're allowing our auto industry to survive a little bit more?
And one of the examples I'd say is if a business is focused on the near term, they'll either do one of two things. But the tariff barriers are so horrific that you can't really bring in scotch.
the tariffs and created a functional boycott, and the Chinese hit back with their own tariffs , and then the critical minerals licensing regime. And Trump realized, I do not want to get into a tit-for-tat continued fight with the Chinese. This is going to hurt me too
paper over here ... copied most of the Constitution over here, just changed the parts that they needed to make sure slavery was protected, and you didn't have the wrong kind of tariffs and so forth. That's one reason they could do it so quickly. It's absolutely based on the government they've been thriving under, which is under the United States Constitution. Both sides claimed they were the true inheritors of the revolutionary generation.
doing in, you know, his talk about putting up a wall with Mexico or these giant superficially unpopular tariffs um with other countries? He's He's saying, "Listen, we're not powerless, right? The government has seemed to have been powerless in the face of mass migration, in the face of jobs being outsourced.
They cut social spending on health care and education. They cut tariffs and subsidies and protections. They cut protections on labor and the environment and so on.
So OK, so this is probably worth getting into a little more detail. We're thinking about tariffs , and how much do you-- what's the relationship between globalization, and global capital flows, and global flows of migrants,
own range of applications, that investing in good-quality identity and authentication is really important, because that's the only way we will convince people that it's okay service and taxation and tariffing and all this stuff.
And they signed a contract with eight of the railroads on August of 1930, promising to have this ready within 16 months. The railroads responded by issuing a tariff on the terminal for certain kinds of freight, basically boycotting it.
laws the pretext the occasion for this argument about having a state veto over a federal law was the Tariff another exciting word but it was really about abolition it was about slavery and it was about power South Carolina wanted to establish the precedent that if Washington tried to abolish slavery they
And I think this resulted in a major push back. Now, some of that was justified. That push back is justified, but I also think some of it is very much unjustified. Tariffing countries like Canada makes no sense. uh if you're the United States, you should want more friends, more trade with those friends.
So OK, so this is probably worth getting into a little more detail. It involves controls, tariffs , structural barriers.
And we file our taxes in April 15, et cetera. All taxes at that time are essentially controlled through tariffs . And Britain, of course, at this time is a mercantilist empire.
real problem is if we're going to understand what kind of policies we want to put in place to fix it we we address the wrong problem if for instance we raise tariffs because we think it's trade that has destroyed most of the jobs uh we're not we may make things worse and we're not going to solve the real problem and I think the same thing
really uh kind of rocket fuel for the Canadian economy, but it's strategically important for our American friends. We could cooperate better on this if we got a friendly posture and a fully tariff -free trade ar arrangement with the US. What's interesting when I look at these uh vials of oil that we have on the table and I see that Venezuela's
natural resources as leverage to get what we want from this administration and future ones. What we want is tariff -free trade for our steel, aluminum, lumber, and automobiles.
So we'd rather burn it to completion than just dump it outside. So bringing those pieces of the production in-country can reduce our tariff rates.
putting policies in place. Like the feed-in tariff . And really pushing for solar and wind.
180. He was going to put tariffs on all the Europeans that supported Denmark. He had to take Greenland. Those things went
these countries. He puts these high tariffs on China. They hit back. He does it again. They hit back again. He's like, "I'm going to do export controls."
you know, a lot of impacts from tariffs to to um weather events over the last couple of years. We'll see. But, the way
As recently as May 2026, China removed tariffs on all African nations except for one, Eswatini, a country that still
And once they figure out distribution costs, and tariffs , and fees-- mystery fees, and all sorts of things getting them into
Because if they did contain RAM, then it fell into a different tariff code that got taxed differently, okay? So the customs people don't really know.
On balance, the Ukrainians are in a stronger position, but that does not mean that now than they were 3 months stage. Uh his ability, whether it's on tariffs and hitting the Chinese or it's on Russia and doing a deal over the
Republicans become less remarket oriented, more populist and more enthusiastic about things like tariffs . And I say enthusiastic. The enthusiasm seems to come from the White House. Congress for
Industrial policy, export controls, trade policy like tariffs , things that you do to your domestic firms. Now none
And in the recent years, we've seen policies on tariffs , immigration restrictions, industrial policy,
You said, for example, recently that tariffs and immigration restrictions can be inflationary, which is a position to take.
But when it comes to matters like immigration, like tariffs , like antitrust policy, like regulation, people would look at the business community as having a voice.
uncertainty in the world. And we see that with the tariffs . We see that with
Right. Right. But trying to connect tariffs or in an international monetary policy to, you know, uh higher prices uh you know,
economy is not going great for China, even though it it's weathered the storm of tariffs from the US pretty well. I
The fact that it isn't is of course inherently political and there's all the tariffs and import fees and all that, that's super variable
And in international trade it's, how low are the tariffs ?
These are the major drivers of climate breakdown. They can't do the things that we know work well, like using tariffs and subsidies-- having tariffs , again, to protect their markets from being
So they imported goods like Walmart does-- or whether more Walmart is able to import goods now with tariffs , I'm not sure.
And even if you don't like his economic policies and you don't agree with tax or tariffs or whatever, he's a good person, and I think he wants
But I could totally see that some kind of economic benefits, tariffs , quotas that you could meet that could actually reduce, not just the global sort of parameters,
When your customers are very low income and tightly constrained by their purchasing power, pricing is critical. And as Ethan described, with some of the taxes and tariffs that are imposed on us in the markets we operate, there's a really powerful compounding effect on the initial cost of goods.
get, uh, you can buy imports without paying high tariffs , ah you get cheap loans to buy a house. And there were more than 500,000 names on the list. The problem is, is that
But the sooner that ends and the sooner we join the coalition of countries that are moving forward, they're gonna put a price on carbon, and they're gonna put a tariff
Some people would say 100% of a Tesla for 40% of the price. If there weren't ter if there wasn't a ridiculous tariff
Initially copying, but with innovations that they're going to add and with enforced technology transfer from the West, which is why we have this tariff war that's just started in the last week
But when the costs are unequalized, and if you're able to make more energy than you can use, there's no feed-in tariff in Michigan.
I think you have to declare three and then after that you can only take like 10 and then you have to pay a tariff on it.
And he went on to say, "Nor will there be a departure from the general tone, unless it be to intensify its devotion to the cause of sound money and tariff reform and advocacy