doing that to protect their dairy markets. does that help us, hurt us? does it help them, hurt them? in general, as a country canada s tariffs are lower than america. more of a free market trading nation than the u.s. but if we look at a specific example, and, if the u.s., we pay twice the world price of sugar. mark: as a matter of fact, you once wrote that we have 12,000 tariffs in place on all kinds of products all across the board from all kinds of countries. taxing the american people for all kinds of products that we use every day. yeah, and including the 25% tariff that started in the 60s with what s called a chicken tax. we have a 25% tariff on imported pickup trucks. so that gives gm and ford and chrysler, 83% market share of that very valuable market, more than half the vehicles sold are truck, so they get the production. mark: does that mean the cost is higher for the american
Detailed text transcripts for TV channel - FOXNEWS - 20180625:05:01:00
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this: if one country makes it prohibitively expensive for their people to purchase something from us, aren t there other countries we can sell them to? that s one good point is that in a global market because canada doesn t, if they don t really welcome our exports of dairy products, that it s a big world, we can sell them elsewhere and to the extend they re penalizing and taxing their consumers in the form of higher prices for milk and dairy products it wouldn t make sense to charge our consumers higher prices and imposing tariffs. whole retaliation doesn t make sense, if they commit economic suicide, shouldn t mean that we would have self-inflicted economic suicide. mark: this is a very important point, what you re saying. if other countries want to drive up taxes on their own consumers, those taxes go to their government. when we put tariffs in place, we re not only taxing the
economic marketplace, as you see the prices ripple through the economy, what we re going to see is like in 2002, job losses and in that case, 2002, more jobs lost throughout the economy than jobs mark: i think i read 200,000 in ten months. we re at the early stages of this. looking a year from now, i don t see how it would be much different than in 2002 and all the other times one would try to impose tariffs on steel. mark: what about the impact on inflation, when you re driving up the cost of raw material like that, which is everywhere. in cars, kitchens and appliances, and so forth and so on and so on. could have inflationary effect to a small amount, but really inflation is when all goods and services are rising simultaneously by some high rate, so that could have some impact on some of the input prices, but it wouldn t necessarily mark: not across the board? not across-the-board
domestically. now that may help the steel barons and may help the steel unions, but when that begins to resonate throughout the economy and the consumer does, that help everyone on assembly lines? does that help the united states military buying new tanks and armaments right down through the economic system? look at experience in 2002 when george w. bush imposed steel tariffs and completely backfired in a way i think might happen again this time because the higher that steel prices go, that s a main input for manufacturers all across the economy, and there was an article i think in the wall street journal the other day about a domestic u.s. producer of lockers for schools and government and offices or whatever, gyms, and that s the main input is steel, so they re really getting hammered. they re a small company trying to survive in a globally
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