Feb. 2, 2025

NEW TRUMP TARIFFS EXPLAINED: Why Everything From Your Car To Your Breakfast Burrito Is About To Cost WAY More

Show Notes
Transcript

President Trump just declared economic war on our three biggest trading buddies, and your wallet is caught in the crossfire. Here's what's ACTUALLY happening with these massive new tariffs (and why you should buy those avocados NOW):
✓ Canada and Mexico hit with twenty-five percent tariffs
✓ China gets slapped with ten percent
✓ Canadian oil gets special ten percent rate (because apparently freezing in the dark isn't part of the plan)
✓ Prices could spike IMMEDIATELY on groceries
✓ That new car you've been eyeing? Maybe wait on that
✓ Canada's plotting revenge with whiskey and peanut butter (seriously)
✓ Mexico's President Sheinbaum is NOT happy

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Calaroga Shark media.

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From Toronto, where maple syrup dealers are now working the

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same street corners as drug dealers. This is ballot, Hey kid,

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want some great eight media mamber Hit this first, drizzles free.

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Let's hit this. Hello, I'm Patrick Gutfield, and grab your

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wallets everyone. Trump just went full home alone too and

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said keep the change you have, filthy NAPTA. He's slapping

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twenty five percent tariffs on basically everything from Canada and Mexico,

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and ten percent on China, because hey, why not make

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shopping more exciting? Now? When Trump says he's doing this

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to stop drugs and immigration, it's kind of like using

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a flamethrower to make toast. Sure you'll you'll get warm bread,

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but you're also setting your kitchen on full economic fire.

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And these aren't your run of the mill tariffs. We're

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talking about countries that send us more than a third

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of our stuff. The experts, you know, those nerdy types

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who actually study this for a living, are saying prices

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are about to go up faster than a Canadian's blood

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pressure when you tell them their maple syrup is too expensive.

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Speaking of Canada, justin Trudeau is threatening to hit back

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by targeting very specific American products. They're going after Florida

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orange juice, Tennessee whiskey, and Kentucky peanut butter. That's not random.

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That's like your ex knowing exactly which photos to untag

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you in on Facebook. And Mexico, well, President Shinbaum is

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probably wondering if she can send Trump an invoice for

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that wall he keeps talking about, because now it's going

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to cost twenty five percent more to build it with

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Mexican steel. That's what we call irony kids. But here's

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the kicker. Trump added a little no baxis clause, saying

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if these countries retaliate, will raise the tariffs even more.

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It's like the international trade equivalent of I'm rubber your glue,

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except in this verse, everybody's wallet gets stuck. Let me

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bring in James here to explain this to us. James,

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what the hell has gone on? This is a massive

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shift in trade policy. We're looking at twenty five percent

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tariffs on Canadian and Mexican goods, ten percent on Chinese imports.

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The numbers are staggering. You know what really gets me

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the immediacy of it. All these tariffs kick in at

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twelve oh one am Tuesday, and suddenly everything from avocados

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to automobiles could spike in price. The SNP global economists

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are particularly worried about specific sectors farming, fishing, metal production,

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auto manufacturing.

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Well, speaking of automobiles, Mexico's auto and electric equipment sectors

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are especially vulnerable.

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Here. How long until your average American feels the pain

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in the wallet.

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That's where it gets interesting. Professor Felix tintl not from

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Duke says, we're looking at different timelines for different products.

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Groceries could spike within weeks, but bigger purchases like cars

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might take longer because of existing inventory. The energy sector

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impact is particularly concerning. Sixty percent of US oil imports

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come from Canada, and even with the lower ten percent

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tariff on Canadian energy, that's going to hit hard, especially

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in the Midwest where refineries are heavily dependent on Canadian oil.

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But here's what fascinates me the psychology of how companies

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might handle this. Some will pass costs directly to consumers,

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others might absorb them. And then there's this concept of

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opportunistic pricing.

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What exactly do you mean by opportunistic pricing?

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Well, when companies use tariffs as an excuse to raise

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prices even more than necessary, like if their costs go

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up ten percent, they might raise prices fifteen percent and

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blame it all on the tariffs.

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That's pretty sneaky and hard for consumers to verify too.

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And then there's the international response, which is just brilliant

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in its precision. Canada's not just retaliating randomly. They're targeting

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specific products like Florida orange juice, Tennessee whiskey, and Kentucky

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peanut butter. It's like economic acupuncture.

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The political calculation there is pretty clever. They're clearly choosing

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products from politically significant states. The timing of all this

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seems particularly challenging for the economy exactly.

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And what's really striking is how this affects tens of

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millions of American jobs connected to trade with these countries.

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We're not just talking about abstract economic concepts. These are

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real people's livelihoods at stake.

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Thanks James, I appreciate you coming in on a Sunday morning. Meanwhile,

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you're going to love this one. Our new Press Secretary,

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Caroline Levitt is scrambling to explain why egg prices are

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sunny side, not down. During her first press briefing, and

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you've got to appreciate the irony of discussing eggs during

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your debut, Levitt tried to lay these high prices at

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Biden's doorstep. She suggested Biden was probably upstairs sleeping while

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egg prices rose sixty five percent. Now that's what I

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call a breakfast in bed situation. You know what's really

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cracking me up. Trump promised to fix egg prices immediately

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on day one, day one, as if he could just

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walk into the Oval office and declare, eggs, you're fired

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from being expensive. That's not how this works. That's not

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how any of this works. But here's the real yoke,

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sorry joke, Levitt's blaming Biden for euthanizing one hundred million

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chickens during a bird flu outbreak. That's like blaming your

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doctor for giving you medicine when you're sick. These aren't

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political chickens. They don't care who's president when they get

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the flu. The American Egg Board, which is apparently a

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real thing and not just a group of breakfast enthusiasts,

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says we're stuck with these prices for a while. So

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unless Trump can convince these chickens to start working overtime,

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we might all need to start considering less expensive breakfast options.

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So elon, Musk, the guy who bought Twitter just to

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rename it after his favorite letter of the alphabet is

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now sleeping at his government office. That's right, the man

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worth hundreds of billions of dollars is choosing to crash

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on a federal floor instead of the historic Lincoln bedroom.

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You know things are getting weird when the richest person

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on earth is basically living like a college student during

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finals week. He's there at the Department of Government Efficiency

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because apparently everything in his life has to reference cryptocurrency somehow.

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And get this, his security detail has to escort him

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to the bathroom. I mean, when you're worth that much money,

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I guess even your bathroom breaks need their own motorcade.

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This is the same move he pulled at Tesla and Twitter.

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Sorry X, remember when he bought Twitter and immediately started

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sleeping there. It was like the world's most expensive sleepover,

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except instead of pizza and movies, it was just Musk

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pacing around at three in the morning tweeting about cryptocurrency.

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Of today's program were made with the help of Ai,

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a smart sounding British dude, and Trump's tariffs