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🗓️ 6 March 2025
⏱️ 59 minutes
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0:00.0 | stock prices for Ford and General Motors since the inauguration day compared to the overall |
0:05.8 | market. The overall market we know has come down still up here. Ford and General Motors |
0:10.7 | kind of went off a cliff after inauguration, down 10% for General Motors, about 7.5% for Ford. |
0:18.9 | And here's a quote from the Ford CEO before yesterday. Tariffs will |
0:23.1 | blow a hole in the industry that we have never seen. And so he said in his speech just now that he |
0:30.0 | had spoken to all three automakers and they were happy. Well, a day later, they called the White |
0:34.3 | House and said, no, we're really not so happy. We need you to at least pause these tariffs and hopefully get rid of them. |
0:39.8 | So Trump also touched on how tariffs, a different set of tariffs, may affect America's |
0:45.3 | farm workers. |
0:46.4 | Let's listen to some of that. |
0:48.5 | Our new trade policy will also be great for the American farmer. |
0:52.5 | I love the farmer. |
0:53.6 | We'll now be selling... also be great for the American farmer. I love the farmer. |
1:03.6 | We'll now be selling into our home market, the USA, because nobody is going to be able to compete with you. |
1:05.8 | He later said that farmers go have fun, but Steve, you say that they'll lose a huge market to actually |
1:12.6 | sell their goods. Well, he may love the farmers. I'm not so sure they love him at the moment. |
1:17.2 | Let's just go back to Trump 1 for a second, because he also put tariffs on, as you remember |
1:23.3 | then, and there were retaliatory tariffs. In 2018 and 19, the government collected a total of |
1:29.7 | $50 billion from all the tariffs that we imposed on things coming into this country. We then |
1:36.1 | gave back $24.5 billion to the farmers to compensate them for their lost exports. So that |
1:43.2 | did not go so well. |
1:44.9 | Let's see why we export a huge amount of soybean $7.7 billion |
... |
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