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Trump's Tariffs Will Bring Unemployment and Chaos
Apr 14, 2025
After Donald Trump announced his newest tariffs yesterday, the American economy is already seeing its negative impacts. Steve Schmidt breaks down the effects of Trump's tariffs and how they'll hurt ordinary Americans. Subscribe for more and follow me here: Substack: https://steveschmidt.substack.com/subscribe Bluesky: https://bsky.app/profile/thewarningses.bsky.social Facebook: https://www.facebook.com/SteveSchmidtSES/ TikTok: https://www.tiktok.com/@thewarningses Instagram: https://www.instagram.com/thewarningses/ X: https://x.com/SteveSchmidtSES
View Video Transcript
0:00
This is the warning
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And yesterday, shortly after 4 p.m., when the stock markets closed, Donald Trump ambled out to the presidential podium and declared trade war, America against the world
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He said, this is the key to our country being great again
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The Republican members of Congress cheered, and his sycophants went on TV to celebrate
0:29
This is a decisive moment. Millions of Americans will be hurt, but politically, though it will not seem like it today, Donald Trump has destroyed his MAGA movement
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It will be remembered as an instrument of economic recession, if not depression, of lost dreams and hopes, as a crusher of prosperity
0:57
And there is no country that will pay a higher price than the United States
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And there is no group of voters, none, that will be more impacted, that will be more hurt by this than Donald Trump's own voters
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We have to take care of our people and we're going to take care of our people first
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And I'm sorry to say that. Every single thing that an American purchases will go up
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In less than 100 days, Donald Trump has set the following in motion
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Wages will go down. Prices will go up. Unemployment will rise as prices go up and wages go down
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And because of the uncertainty, there will be no hiring. Everything will freeze
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And today we standing up for the American worker and we are finally putting America first The American economy had a lot of problems with it no doubt But the answer to the most competitive most innovative
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most entrepreneurial economy on planet Earth was not to detonate it. But the buffoon-in-chief, our mad King Donald, knows best
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And so let's have a taste of the insanity as it was announced
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And then we'll see Scott Bessent, the Treasury Secretary, talking in absolute incoherent terms on CNN
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One of the messages that I'd like to get out tonight is everybody sit back, take a deep breath
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Don't immediately retaliate. Let's see where this goes, because if you retaliate, that's how we get escalation
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Now, let's focus on the Treasury Secretary's dishonesty. And unlike the Commerce Secretary, Howard Lugnick, a five-star shyster
3:01
the Treasury Secretary actually has a position of responsibility with deep consequences for their actions
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Donald Trump understands America, he understands American workers, and he understands national security
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And thank goodness he's going to protect us. And today's the beginning of him really protecting America and making America first
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And in this answer, you see how dishonest and incoherent all of this is
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The purpose of the tariffs is to raise prices high enough so that companies will be forced to make their products in the United States as the means to lower the prices so that people will buy the product
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The Treasury Secretary is comparing apples and oranges. First these Trump tariffs are massive The initial Trump tariffs were minuscule Yet even with those minuscule tariffs taxpayers had to bail out the bankrupted farmers
4:11
So, the economic impact of these tariffs will be taxpayer bailouts, for example, for the
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farmers in Iowa that it bankrupts. Does that make sense to you if you're a lawyer in New Jersey
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It does not. Today, the stock market will crash. Trillions of dollars will be wiped from people's retirements
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And Donald Trump doesn't care. He has assaulted the country's national security establishment
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He has assaulted the rule of law. He has assaulted the Constitution
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What Donald Trump is, is an arsonist. And so this is a day that will be long remembered because it is the beginning of an economic disaster that began not by confluence of forces, but by the push of a detonation button designed in the Oval Office
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And no matter what, no matter how bad and how chaotic things get, Donald Trump will go out there and he will say we're winning
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And the media will lap it up until it becomes too farcical to continue
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That happened during the second Iraq war when Baghdad Bob was standing in front of the Baghdad airport
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And he said there were no Americans at the airport as the American tanks came by
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And that is what will happen with the American economy as misery has spread
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Donald Trump is trying to recreate a world that's gone, and it will never come back
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The world of the 1950s, of the 1970s, we live in an integrated global economy that has made
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the United States the richest nation in world history The distribution of the share of that wealth inside the boundaries and borders of the United States that a domestic political issue That won be impacted one way
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or the other by these tariffs, except for it will make everybody poorer. There is no plan. Donald
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Trump doesn't have a plan, but he's not allowed to be told no to. And so we spiral and we drift
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And he's surrounded by sycophants who stab each other in the back to be the first to say yes
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And then they run out of the room, stabbing each other in the back to be the last to ever be in a position to have to say no to madness
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And that is where we are. The country is in crisis. The fruits of the electoral decision are coming due
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And there will be immense suffering, more homeless, more hungry. There will be chaos
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There will be crime. And in the end, economic war has always yielded to the real thing
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The most disastrous decision made by free people in the world anywhere in the last 80 years
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has been made by the American people who have grown fat and slothful
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lazy and decayed enough to elect a conman hustler from Queens to the office of President of the
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United States. And every person who warned, who said what was coming was different, what was coming
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was terrible, will be proven right. Because what is coming is terrible indeed. This is the warning
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And I'm Steve Schmidt. This is The Warning. I invite you to join this community where I promise
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to be honest, blunt, and direct about what is happening in this country. America is in crisis
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Follow and subscribe to this channel and on Substack. Thank you
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