Just finished watching the whole video right now. Basically the QRD on tariffs is the following:
prices on consumer shit will go to the moon
companies will curtail their US operations, because the US market is small on the global scale like 10-20%
companies will pull out of the US market completely and wait to see what happens in 5-10 years
this will lead to shortages of products in the US
the cost to repair existing products is going to the moon because tool prices are going to skyrocket and new repair techs are going to be gate-kept
strangely enough this will lead to US being a tech backwater
Wow, it's almost like these things should be done gradually and letting an orange boomer try to interfere with delicate things such as global supply chains and trade with social media shitposts is a TERRIBLE idea or something... Who could've known this, right?
Anyway, one thing they didn't mention, but it's critically important is all of the production capacity in China was built in the 1990s and 2000s, which is when they had much lower cost of labor and dollar was a lot more valuable. But now if you start building production facilities from 0 in the US in 2025 the price of the final product will be 10-20-30x what it costs now. lmao