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How Do Tariffs Work? (Patreon)

Published:
2024-12-11 20:24:37
Imported:
2026-06
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Content

Due to high demand, I am supplying this video explaining why tariffs can sometimes be seen as a good thing, but, more often than not, are a bad thing for an economy. I supplied that demand, alright (hopefully).

Thanks for your continued support! Many of you get a shout out in this video. :)

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How Do Tariffs Work?

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Comments

Michael Cortez

Tariffs are one of those things that sounds great on paper but in practice, it seems like you’re sacrificing a lot for whatever “benefits” tariffs give in return. Turns out, other countries can enact tariffs on you as well. Shocker (sarcasm). Since we are not in a WW1 or WW2 style world, I don’t much feel like sacrificing for the country when the situation absolutely does not call for it.

Jesse Bakken

I don't know about you, but I'm always annoyed by how I perceive "tariffs" as solely a political word, because I never hear it in any other context. 😂 So, go figure that Trump loves that word.

DANTE VERONA

I had a reasonably OK understanding of tariffs since it was re-introduced in the modern political vernacular but this video just reinforced it... If the tariffs are passed then the price of consumer goods go up. In turn, it could raise inflation. In response, the Federal Reserve might raise interest rates all over again which will muck up my industry as a licensed loan officer... It took us three years to get past this and now we face the risk of this happening again without necessary provocation. A stupid self-inflicted wound. Ugh.

Matt Beat
>>158046050

And only one man is the reason why tariffs are in the national news over the past six years. It's crazy how much influence he has had. Crossing my fingers we don't shoot ourselves in the foot!

Edward Goldstick

Good job, Matt... Watched it this afternoon. Thanks! For what it's worth, I am wondering (and will look) whether you ever did a video exclusively on Adam Smith that included a discussion of his other important work, "The Theory of Moral Sentiments", that offers a meaningful contrast to the notion of the Invisible Hand in economics.

Matt Beat
>>158212095

I just got this for some reason. Thank you, Edward. This is a great idea. Smith deserves an entirely separate video.