Former Treasury Secretary Mnuchin: Tariffs need to be used to get counterparties back to the table

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  • Опубликовано: 27 ноя 2024

Комментарии • 175

  • @Jack-v7f3d
    @Jack-v7f3d 12 дней назад +2

    Talking about slashing the corporate tax rate to 15% while in the same breath talking about cutting entitlements… Well this is what people voted for I guess

  • @Felix-op1rw
    @Felix-op1rw 20 дней назад +12

    no serious economist is for across the board tariffs. This happens if you choose „experts“ based on who agrees with you instead of quality

  • @wkusam123
    @wkusam123 20 дней назад +21

    tariffs = taxes
    free trade > fair trade

  • @deevee4994
    @deevee4994 20 дней назад +29

    How soon we forget that this jacka.. screwed homeowners out of millions in 2008.

    • @RockawayBeachNY
      @RockawayBeachNY 17 дней назад +2

      But how many were saved during the Trump Mnuchin brilliant mortgage moratorium during covid. People didn't have to pay their mortgage for one year. Afterwards, if payment couldn't be made mortgage could be amended to change the terms to add one year.

    • @deevee4994
      @deevee4994 16 дней назад

      @RockawayBeachNY Trump had enough 💩 on him so he had to comply any of Trump's agenda or Munchin thieving a.. would've charged with embezzlement.

  • @rogergeyer9851
    @rogergeyer9851 20 дней назад +12

    The GOP endlessly whines about spending but wants endless tax cuts. It takes control of the balance of BOTH spending AND taxation to have balanced budgets. With out debt, we need meaningful SURPLUSES in all but very bad economic times.
    Not that EITHER side will support the discipline to do that. Nor their voters -- on BOTH sides.
    But then, it's always someone ELSE's fault. Our country is a political insane asylum, with no one competent in charge.

    • @humanbeing5300
      @humanbeing5300 19 дней назад

      GOP administrations have increased the debt more than Democratic ones over past 50 years. It’s approximately 55/45. Trumps second term will be no different. Maybe the bond market will finally crash but I doubt it.

    • @that_heretic
      @that_heretic 17 дней назад

      That's not entirely true though. The GOP is worse than this. They whine about spending until they have power, then they spend like drunken sailors AND push for endless tax cuts.
      They're a parody to anyone serious about being responsible. Look forward to more of the same with Trump running the show again.

  • @dogger37JC
    @dogger37JC 17 дней назад +2

    Make the rich richer and let everyone else pay for it

  • @stormvillians
    @stormvillians 20 дней назад +18

    They setting yall up to pay they bill lol 😆 😂

  • @JoeDurbs
    @JoeDurbs 20 дней назад +26

    If we lower the corporate tax rate the companies will never pass this savings to the customer. The shareholders will be the only ones getting rich

    • @Felix-op1rw
      @Felix-op1rw 20 дней назад +4

      like the last trump tax cuts. Studies show it has only little effect on growth while rapidly increasing the debt and inequality

    • @s1dwyz732
      @s1dwyz732 19 дней назад

      So every single form of a retirement beside under the mattress?

    • @Stoneface_
      @Stoneface_ 17 дней назад +3

      Millions of Americans are shareholders

    • @nick21614
      @nick21614 15 дней назад

      @@Felix-op1rw The government took in more revenue after the tax cuts not less

    • @Felix-op1rw
      @Felix-op1rw 13 дней назад

      @@nick21614 yes but less than anticipated before the tax cuts. Tax revenue always increase without changes in the tax codes because price and wages will increase over time.
      Tax revenues were $430 billion lower in 2018 and 2019 than they would have been predicted before the tax cuts.
      Despite that studies show investments from companies, hiring and the effect on gdp was only marginal. But it rapidly increased debt.
      The top 20% got 65% of the income tax cuts and 60% of corporate tax cuts went to shareholder while only 15% to workers

  • @raheelakhtar7
    @raheelakhtar7 20 дней назад +12

    Urgh! Tariffs are bad policy. No one in USA wants to work in a freakin factory for minimum wage and long ass hours. Why is this path to prosperity? Would you want this for YOUR kids?

    • @karmasutra4774
      @karmasutra4774 20 дней назад

      Tariffs are supposed to tip their hand and bully them into creating work in the US and lowering costs. It's just a technique in business like playing chicken. That is what he is trying to do.. bring jobs here and we shouldn't be dependent on procuring for most things outside the US. People will want to work those jobs

    • @stormvillians
      @stormvillians 20 дней назад +5

      No they absolutely trying to squeeze the American consumer. Tariff are another tax added to the cost. More inflation

    • @johnsullivan8673
      @johnsullivan8673 19 дней назад +1

      @@karmasutra4774 I guess you didn’t check out how trump’s first trade war fared.

    • @chrisdorman-c5r
      @chrisdorman-c5r 17 дней назад +1

      The complication is that our imports have been larger than our exports since 1975. A lot of the countries that we trade with have currencies a fraction of the value of the dollar. How are we supposed to get people in those countries to substantially increase their purchases of products and services produced by American businesses using labor on American soil?

    • @dogger37JC
      @dogger37JC 17 дней назад

      @@karmasutra4774Broad tariffs like this will not achieve that result. The last time he did this it cost Americans a fortune because we had to subsidize the farmers and even when it did bring new jobs here it still cost a lot of money to consumers.

  • @sapaiyo9810
    @sapaiyo9810 20 дней назад +11

    How is it China market is closed to the US products? Just look at Tesla, Starbucks, and so many others.

    • @kruandsu
      @kruandsu 19 дней назад +2

      just a select few are allowed by CCP

    • @sapaiyo9810
      @sapaiyo9810 18 дней назад

      @kruandsu looks like sour grapes emotion just died hard in the indian nature characters. Mate, like it or not you are probably going to inherit this unstable emotion from till your future generations to come. As they say.."if you can't beat them, join them", that will give you a good night sleep instead of harbour jealousy.

    • @jamesp8459
      @jamesp8459 16 дней назад +2

      They are made in China, these products are not exported to China.

  • @jamesp8459
    @jamesp8459 16 дней назад +1

    Mnuchin was one of the only wise people Trump had in his administration and sadly he won't be coming back.

  • @bobleonard99
    @bobleonard99 17 дней назад +1

    Even when tariffs help U.S. companies, the price advantage is short-lived because the price gap will get filled by increased profit taking.
    The customer will suffer in the long run.

    • @dogger37JC
      @dogger37JC 17 дней назад

      Yea just look at the tariff on washing machines. Companies in the US raised their prices to match the imported brands and made more profit. Plus they also increased the price of dryers that weren’t tariffed.

  • @othatdude30
    @othatdude30 17 дней назад +1

    They want to lower taxes for corporations in which they know how to loophole paying taxes anyway

    • @Pltr03
      @Pltr03 14 дней назад

      Lower the tax helps smaller businesses. Not every company is apple or Microsoft.

  • @FarukStingl
    @FarukStingl 20 дней назад +183

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    • @CharliesMcCormicks
      @CharliesMcCormicks 20 дней назад

      The strategies are quite rigorous for the regular. They are mostly successfully carried out by pros who have had a great deal of skills/knowledge to pull such trades off.

    • @KarenDuncan-o5s
      @KarenDuncan-o5s 20 дней назад

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    • @FarukStingl
      @FarukStingl 20 дней назад

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    • @KarenDuncan-o5s
      @KarenDuncan-o5s 20 дней назад

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    • @FarukStingl
      @FarukStingl 20 дней назад

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  • @gbala2865
    @gbala2865 9 дней назад

    Tariffs to negotiate a level playing field? I am all for it.

  • @UAL320
    @UAL320 18 дней назад +2

    Looks like someone wants to weasel back into the administration…..

  • @JoeDurbs
    @JoeDurbs 20 дней назад +13

    We need to pay debt down not add to it

    • @navi2102
      @navi2102 19 дней назад

      How is the US going to do that with a 2 trillion dollar budget deficit?

  • @thetradersam6157
    @thetradersam6157 20 дней назад +12

    just remember Social Security is not an entitlement

    • @RK-um9tu
      @RK-um9tu 20 дней назад

      Why would anyone listen to a Bot...

    • @yaz1294
      @yaz1294 19 дней назад +2

      ppl pay into social security, no not an entitlement.

  • @homeyoutubechannel6609
    @homeyoutubechannel6609 15 дней назад

    U cannot just cut gov spending quickly. This has to be measured and careful.

  • @slave_eagle
    @slave_eagle 20 дней назад +5

    CNSB going straight to what Trump would on the eve of Presidency Appointment was fast😂

  • @philyogaeveryday321
    @philyogaeveryday321 20 дней назад +9

    Entitlements? The DOD seems mighty entitled.

  • @BrianMeegan-k3e
    @BrianMeegan-k3e 15 дней назад

    Bring on tariffs. Let's bring back upward inflation at Walmart and across America ! 🎉

  • @maxpervaiz568
    @maxpervaiz568 14 дней назад +1

    Why does Joe K always make stupid comments?

  • @pallekjrlaursen8388
    @pallekjrlaursen8388 20 дней назад +7

    Tariffs will be used to compensate farmers for losses due to tariffs. Congrats on the "win".

    • @stevenyu5384
      @stevenyu5384 20 дней назад

      Lol, wait till China levies tariffs on farm products and taxpayers fork over more money to support farmers.

  • @BRPPlanning
    @BRPPlanning 19 дней назад

    He need to step down, let younger generations control your dreams.

  • @thomasrogers9146
    @thomasrogers9146 19 дней назад

    ONE THING AMERICANS FORGET IS WE ISSUE THE GLOBAL RESERVE CURRENCY. THIS MEANS WE AMERICANS ,OR OUR GOVERNMENT PRINTS USELESS PAPER THE DOLLAR 💵 ONLY BLACKED BY TRUST. THE REST OF THE WORLD NEEDS THE DOLLAR FOR GLOBAL TRADE ESPECIALLY ENERGY.THE CHINESE PEOPLE THE PEOPLE GO TO THEIR FACTORIES AND MAKE US THE GOODS WE NEED FOR FREE. WE GIVE THEM OUR USELESS PAPER THE 💵 DOLLAR WHICH THEY THEN USE TO PURCHASE OUR GOVERNMENT DEBT BONDS AND THERE ARE RESTRICTIONS ON WHAT THEY CAN INVEST IN,IN THE U.S..THEY FUND OUR GOVERNMENT..THE CHINESE TOOK THE MONEY THEY MADE FROM TRADE WITH US AND FUND OUR LIFE STYLE..THE ONLY OBLIGATION OF US THE AMERICAN GOVERNMENT IS TO PAY THE CHINESE BACK THE MONEY THEY LOANED US WITH INTEREST. THIS ARRANGEMENT IS THE ONLY REASON FOR OUR ECONOMIC PROSPERITY AND HIGH STANDARD OF LIVING. IF YOU LOOK AT THIS ARRANGEMENT RATIONALLY WHY WILL ANY ONE BE THIS DUMB TO DESTROY SUCH A GREAT DEAL..THIS MY FELLOW AMERICANS IS WHY THE REST OF THE WORLD CAN NOT WRAP THEIR HEADS AROUND OUR ECONOMIC SELF DESTRUCTION.. THIS IS PURE ECONOMIC SELF DESTRUCTION. FOR WHAT ?TO LOOK TOUGH ON CHINA? THIS IS EITHER ECONOMIC IGNORANCE OR LUNACY.

    • @chrisdorman-c5r
      @chrisdorman-c5r 17 дней назад

      Much of this had to do with an agreement between our government and the Arabian peninsula governments to sell oil only to those customers who had U.S. dollars. That is what the Chinese government wants to break away from. That is the reason given why foreign governments have purchased U.S. Treasury debt to fund our debt. They get paid in U.S, dollars, and have used their dollar reserves to buy oil from the Saudi Arabia and others. It is quite arguable that the $9 trillion or so borrowed from foreign countries ended up being salaries for federal employees. One has to keep following the flow of money. I do not know that we are on a path of economic self destruction. I mean my personal life has imploded financially. But the gross domestic product numbers have shown the economy increasing in size.

  • @patrickjones1392
    @patrickjones1392 20 дней назад +3

    I don't anticipate SS being cut. I think something will be figured out. I just hope it isn't turning it over to Wall St.

    • @tammystut
      @tammystut 20 дней назад +5

      I'm 100 percent in US Stocks and will be rewarded handsomely, if SS is investing in the stock market like HSA accounts 😁

    • @richarddamien4654
      @richarddamien4654 20 дней назад +1

      Privatizing Social Security could actually be a good thing. Here’s why- as it currently stands, if you contribute for 40 years and then die before reaching retirement, your family/heirs receive nothing. With privatization, beneficiaries could be designated and your account passed to your heirs.

    • @rogergeyer9851
      @rogergeyer9851 20 дней назад +2

      @@richarddamien4654: If you do that, then MUCH more must be collected in SS taxes. Annuities work because of the rules. You can't just completely change that and expect it to work without changing the underlying rules.
      I'd like to see a compromise. Some basic level guaranteed, and much of it in the market. Long term returns would be better without risking the whole thing to the market.
      Not that our congress is any good at compromise in recent years.

  • @RaviKiran-lx2kw
    @RaviKiran-lx2kw 19 дней назад

    Did America hold up the bretton woods policy.. Why should China hold up trade agreements

    • @s1dwyz732
      @s1dwyz732 19 дней назад

      Because the amount of curcial importing china does through the strait malaca with an inferior navy

    • @RaviKiran-lx2kw
      @RaviKiran-lx2kw 19 дней назад

      @s1dwyz732 what's strait Malacca got to do with America.. That's 7,000 miles away

  • @richardziegler213
    @richardziegler213 20 дней назад +1

    Corporate taxes 0% ! Squeeze dem old folks ! They got the money ! 😂

    • @stormvillians
      @stormvillians 20 дней назад +1

      No you voted for them to pay nothing. Enjoy it

  • @1952RONALD
    @1952RONALD 20 дней назад +3

    I’m just waiting for my 1/2 price utility bill! 😂😂

    • @wkusam123
      @wkusam123 20 дней назад

      If there's a tariff on it, it'll be x2

  • @kmancrk
    @kmancrk 20 дней назад +7

    Why must Sorkin be so biased in his positioning? He’s the reason I can’t watch the full broadcast anymore. Too biased to be affective.

    • @stevenyu5384
      @stevenyu5384 20 дней назад +1

      He isn’t. He balances out the money-at-all-cost of the guests.

    • @rogergeyer9851
      @rogergeyer9851 20 дней назад +1

      The word is effective. Say what your actual ISSUE is, not just empty whining.

    • @UAL320
      @UAL320 18 дней назад +3

      Substitute “Joe” for “Sorkin” in your sentence and you’d be correct.

  • @WayneAlazraki-hq8et
    @WayneAlazraki-hq8et 20 дней назад +1

    What a liar!

  • @ibrahimdhere
    @ibrahimdhere 20 дней назад +13

    The only former secretary who served under Trump who never thrashed the president when he left office. Loyal to the core.

    • @tradr4evrr
      @tradr4evrr 20 дней назад +2

      that should be a tip off to you....

    • @rogergeyer9851
      @rogergeyer9851 20 дней назад +1

      Naturally, reality, including the fact that Donald Trump DESERVED lots of negative comments re his criminality, lying, incompetence, etc. are the reality. Not to your ilk.
      Instead, blame all the messengers.
      Good work. /s

  • @tedosmond413
    @tedosmond413 20 дней назад +1

    3:00 - 3:23 total bs

  • @MZInternationalBusiness
    @MZInternationalBusiness 20 дней назад +4

    Mike Pence sends his regards

  • @RiddleS-x8d
    @RiddleS-x8d 20 дней назад +10

    We finally are talking policy. It’s a start.

  • @AZ-hj8ym
    @AZ-hj8ym 19 дней назад +1

    China market is not closed. Your pricing is just not competitive and lost the market.

  • @avataraustin1
    @avataraustin1 20 дней назад +2

    TRUMP MAGA!!!

  • @stevem8602
    @stevem8602 20 дней назад +4

    He said it. Goodbye social security

  • @siamcharm7904
    @siamcharm7904 20 дней назад +4

    there are usa companies all over china we sell 800 billion a year to the chinese. new taxes and boycotts will cause a lot of pain to our comps like deere, mcd, apple, gm, 8000 in all. cant think of any chinese comps around usa.

    • @rogergeyer9851
      @rogergeyer9851 20 дней назад

      In the real world, the Chinese ship a HELL of a lot of goods to the US which are bought by US consumers. Wake up.
      I'm not saying I'm for higher tariffs -- but basic facts are what they are whether Trump won or not.

  • @MrTom-kl7hy
    @MrTom-kl7hy 20 дней назад +1

    Lower interest rates, mean lower payments to the social security trust fund. 15 years of way too low interest rates have robbed the trust fund of billions, promoted wasteful spending in both the private and government sectors, and increased the income divide.

    • @rogergeyer9851
      @rogergeyer9851 20 дней назад +1

      That's nonsense. If inflation is higher, causing higher interest rates, then more is paid out. The income is proportional, over time, to inflation. You can't magically get much higher interest rates than the supply/demand of the interest rate markets.
      Whining about "robbery" doesn't make it so.

  • @darrylanderson4764
    @darrylanderson4764 20 дней назад

    Good morning Andrew please keep the president on track with your plan

  • @anandp3991
    @anandp3991 20 дней назад +1

    Don’t cry Sorkin. Don’t cry.😢😜

    • @patrickm6012
      @patrickm6012 17 дней назад

      He asked very well reasoned questions.

  • @MissMyMusicAddiction
    @MissMyMusicAddiction 20 дней назад +7

    i would love to see him come back as treasury secretary, again.
    i like that he's thinking longer horizon
    maybe sitting on the sidelines for four years was a good thing for trump's old team

    • @rogergeyer9851
      @rogergeyer9851 20 дней назад

      He's crazy and/or a liar. Trump's deficits were FAR more massive than any others in history to that point. Him claiming they were moving to balance the budget is pure insanity.

  • @amatuer2
    @amatuer2 20 дней назад +11

    Tariffs are a tax on the consumer !

    • @tvm73827
      @tvm73827 20 дней назад +9

      Not if you stop buying Chinese and start buying American (or Canadian or Mexican)

    • @stlsensimilla
      @stlsensimilla 20 дней назад

      ​@@tvm73827Americans don't make anything.

    • @royprovins7037
      @royprovins7037 20 дней назад +1

      What about the workers?

    • @meltbeam
      @meltbeam 20 дней назад +7

      @@tvm73827 that is literally impossible in a lot of cases. there are many, many things we don't manufacture and aren't in a position to start to. elon musk literally admitted that the middle class is going to endure hardship under tariffs

    • @tecumseh4095
      @tecumseh4095 20 дней назад

      @@tvm73827 Where can I buy an American made cellphone?

  • @richardgodwin2967
    @richardgodwin2967 20 дней назад +1

    Mnuchin was an outstanding Treas. Sec.
    I hope that Trump, the Sequel, puts him back in that cabinet position.

    • @tradr4evrr
      @tradr4evrr 20 дней назад

      well, he does have a hot wife!

  • @1977ivanhoe
    @1977ivanhoe 20 дней назад +4

    Congratulations president Trump ❤ 😂

    • @darrenhere5856
      @darrenhere5856 20 дней назад +1

      🙏🙏

    • @BrianMeegan-k3e
      @BrianMeegan-k3e 15 дней назад

      Now get to work reducing minimum wage, get rid of Social Security. Medicare and Medicaid, and the VA as these are Socialism!

    • @darrenhere5856
      @darrenhere5856 15 дней назад

      @@BrianMeegan-k3e dumbest post ever....

  • @RiddleS-x8d
    @RiddleS-x8d 20 дней назад +1

    No excuses Republicans.

  • @jhockey11liu91
    @jhockey11liu91 20 дней назад +4

    Exactly. It is bargain tool.

    • @patrickm6012
      @patrickm6012 17 дней назад

      Didn’t work out last time with China. All they did as reduce farm imports and Trump then tripled farm subsidies to placate the angry farmers.

  • @dizishi2731
    @dizishi2731 19 дней назад

    US just want to selll agricultue products, but restrict selling high-tech products to China. That is how the trade imbalance arises between the US_China.

  • @knt3219
    @knt3219 20 дней назад

    Good To See You Mr. Mike And It Has Been A While Since You Brought That Piece Last Time On CNBC. And At One Point , You Were Saying About Buying TikTok. Good To See You Sir. I Have Been Looking For The FED’s Decision Since Last Few Days . Will It. Happen. I Think 💚🇺🇸❤️✅☀️ It Will ☀️. Sincerely❤️❤️❤️.

    • @knt3219
      @knt3219 20 дней назад

      KNT 11:55 A.M. Eastern Time 🇺🇸. Sincerely❤❤❤, KNT.

  • @rjv2395
    @rjv2395 20 дней назад +3

    to get into the Chinese domestic market, you need to be competitive. the US isnt competitive in most sectors. so what are you talking about. look at heavy equipment, cat and deere, not a chance for that is China. what are you going to sell them? cigarettes and what?

    • @RK-um9tu
      @RK-um9tu 20 дней назад

      In the Maga world, the US is the best at everything...

  • @Patrick-yh5yd
    @Patrick-yh5yd 20 дней назад +1

    I hope Trump opens up business with Cuba. Great chance while Russia is busy.

    • @patrickm6012
      @patrickm6012 17 дней назад

      I seriously doubt it. You have to get the embassy communications working because we have a lot of illegal Cubans that would require deportation. Also it’s a Communist country.

  • @carolyn1003
    @carolyn1003 20 дней назад +4

    Congratulations Mr Trump ❤❤❤❤❤

  • @douglowry8674
    @douglowry8674 20 дней назад +3

    Trump should say Elon's companies will receive no more government grants.

    • @RiddleS-x8d
      @RiddleS-x8d 20 дней назад

      Clarity would help out a lot.

    • @akapbhan
      @akapbhan 20 дней назад +1

      Boeing in space already is a mess. He's the only one able to reliably provide internet to remote areas. US needs musk more than the other way around.

    • @RK-um9tu
      @RK-um9tu 20 дней назад

      ​@@akapbhanWrong.

    • @akapbhan
      @akapbhan 20 дней назад

      @@RK-um9tu wow such an interesting point you made there.

    • @BrianMeegan-k3e
      @BrianMeegan-k3e 15 дней назад

      ​@@akapbhanhow much does Starlink cost ?

  • @douglowry8674
    @douglowry8674 20 дней назад +1

    Many companies in China have set up subsidiaries in other countries, including India and Vietnam. If you put on a tariff on China, companies move operations and still sell to the US, no new manufacturing jobs in US.

    • @dogger37JC
      @dogger37JC 16 дней назад

      They’re going to Mexico

  • @galkema
    @galkema 20 дней назад +1

    His last action on the way out was disappointing. Perhaps he ought not come back.

  • @emmeadowmitbbs3537
    @emmeadowmitbbs3537 20 дней назад +2

    US market is completely open to China? How about those self-driving EVs?

  • @dquin0091
    @dquin0091 20 дней назад +1

    Cut social security. It will hurt but it’s for the best

    • @yaz1294
      @yaz1294 19 дней назад +2

      You must be rich! Why are you even commenting here?

    • @AmeriGlobal
      @AmeriGlobal 12 дней назад

      Let workers opt out of paying into it.

  • @ChrisDennis-dp3md
    @ChrisDennis-dp3md 20 дней назад +1

    Level playing field😅😅😅😅😅😅😅😅😅

  • @s1dest3p
    @s1dest3p 20 дней назад +2

    Trump's plans are pretty good, but I hope he'll focus on individual taxes and making them a flat tax just like corporate taxes are.

  • @darrylanderson4764
    @darrylanderson4764 20 дней назад

    Elon musk is a genius in engineering and energy, right Andrew