America Just Shattered 80 Years of Global Progress

Donald Trump's tariffs are having a massive impact on global trade. Stock markets crashed, and then soared, as tariffs were put in place, and then paused. But the truth is that the potential for a recession or economic collapse is far from behind us.

In this video, I talk about the lasting impacts of Trump's trade wars, and the most important factor that most people, including Wall Street, seem to be ignoring - human psychology in the face of broken trust.

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[PaulJWarburg]

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Thanks so much!

[NatalieDawsoon]

I still can't believe how much damage those tariffs caused. It feels like America just hit rewind on 80 years of global economic progress. We were leading trade, setting the standard, now we’re scrambling to recover from a self inflicted mess

[phildirt]

He bankrupted 7 companies. Running the country like his businesses? What could go wrong

[graemesutton]

Australian here. Well said. What you missed is that many countries, like Australia, do not have the US as a major trading partner so his tariffs do not have the leverage he thinks they do. All it does is lose the US governments reputation and credibility as a whole.

[JimDonato-kr]

Retiring comfortably in the US these days is almost impossible. I'm planning to retire at 59 in another country outside the US that is free, safe and very cheap with a high quality of life and good healthcare. Here in the US more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.

[Ventus_S]

2 words, market manipulation.
They sacrifice the reputation of the whole U.S. for their own personal gain.
Now they're all billionaires.

[AaronStuartHall]

Aussie here. The sentiment shift here is permanent. Even if the US elects sane people to try to undo the damage we will always face the risk of this happening again.

[patrickh]

There is no enemy like a friend betrayed. As a European I can tell you America has lost me, Europe must separate itself from American influence as quickly as possible.

[SR-derd]

"It may be dangerous to be America's enemy, but to be America's friend is fatal." a quote from Henry Kissinger, may his soul be damned for eternity

[mvnization]

I'm Australian. The US has a big trade surplus with us. How can they then explain the 25% tariff on steel and aluminium, and 10% on everything else? I personally feel angry about this. I am now dead set on not buying any US product wherever I have alternatives. I feel for those Americans who did not vote for Trump, or voted for him unthinkingly who may be affected by this kind of sentiment on a global level, but its a feeling in my gut.

[bearfootsteve]

🇨🇦. I canceled Amazon Prime, Netflix, boycott American products, change soap and cosmetics brand.. travel in my own country. No more American stuff and culture in my life. Canadian, British, European have great stuff to offer. We just have to discover it.

[AsphaltPlanet]

Canadian here. The sentiment among many Canadians is betrayal.

I think many Canadians felt that we were closest ally, and we had a trade deal that was negotiated with Trump during his first term. He now wants to negotiate another deal, but who's to say he's going to honour that new deal if he unilaterally stopped honouring his previous deal?

[tonysilke]

The US economy is grappling with uncertainties, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

[cthoadmin]

Never, in the field of US leadership, has so much been lost, so quickly, and so stupidly.

[PCoutcast]

Canadian here. Just wanted to make one correction. Canadians are not boycotting US products, services and travel because of the tariffs. Although this may induce additional anger as the tariffs start causing significant job losses. The reason they're boycotting the US is because of the annexation threats. As much as Canadians have liked and gotten along with Americans and share many values in common, by and large they don't want to become Americans.

[graemesutton]

Australian here. The question that seems to be missed too. Who put Trump in that position of power, not once but twice. I am not talking about the people who voted for him. I mean the average Joe Blow does not wake up in the morning and say "I am going to be president and it happens'. There are a teams of people, sponsors, backers etc who put him there. In my view they are the scarier people

[mmora]

As an American, I'm so ashamed of what is happening. I was not for him, but our dumb two-party BS has to stop. The working class here is beyond disrespected, and this is turning out to be an oligarchic pump and dump, as they say.

[Trevebodega]

Something must be very wrong if one person have the power to destroy the world economy and trade at will.

[fmitterb]

As a European for a long time, I thought Trump was the problem - until it hit me: Trump is just the symptom and the actual problem is those who voted for Trump - despite all the things that had happened before. There is a majority that votes for any nutjob ... how in the world can you trust/trade with people that run on gut feelings, don't care about contracts and agreements. It's quite sad and I really feel sorry for all the decent people living in the USA.

[Hjd]

What Trump doesn’t seem to understand is that virtually every country will be working a plan to find safer trading partners. Whilst he is still thinking he’s working a deal, we’re all thinking we need to get away from this idiot!
No one knows what will happen in the future, but we know America isn’t in a safe, stable condition to trade with.