Latest / After-Hours with Faction! Motorsports / UNDER THE HOOD Ep. 7: Tariffs

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UNDER THE HOOD Ep. 7: Tariffs · After-Hours with Faction! Motorsports

• 0:09
  What's going on, guys? Welcome back to Another Under
• 0:13
  the Hood. Under the hood, we're back.
• 0:16
  We're back, baby. Patreon only podcast number
• 0:21
  anyone number is it? No one knows.
• 0:25
  We actually I don't want to know the number it's.
• 0:27
  Going. To be like 5, it's going to be 5
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  seven. OK, episode #7 On today's
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  episode we are going to bring you.
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  You know the the current obstacle we're.
• 0:43
  We're dealing with. Yeah, dealing with right now.
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  Actually, we'll have a word from our president real quick.
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  Hello, it's me. As many of you may not may know
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  the tariffs. The tariffs are.
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  Here, the tariffs are here and they're here to stay.
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  Hopefully I might push them back, I don't know.
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  Yeah, guys, tariffs are coming or they're here already.
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  Well, we'll get into that later on.
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  But they were, they were going to be here.
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  But something changed recently. Things keep changing every
• 1:25
  single day. So we took a while to make this
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  episode. Yeah.
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  I think it what was it? The fourth thing it was yeah.
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  He. Just keeps pushing things back.
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  The president, yeah, he he pushed back the TikTok ban too.
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  Again. Oh wait, what was going on with
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  that I. Don't know I just heard there's
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  saw it on Reddit on the news and he pushed back the the.
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  What even is the news these days?
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  I don't know TikTok, that's where I get my news.
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  As I go through my notes here, all right, I'm on the the
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  whitehouse.gov right now. Oh.
• 2:00
  Presidential actions, he's going federal April 2nd.
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  That's when it was decided that Donald Trump was going to raise
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  the tariffs on all all these different countries.
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  His reasoning is that they are hitting us with tariffs that are
• 2:19
  way higher than what we hit them with.
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  So I mean, I know what he's doing, but what he said is that
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  we're just going to hit them harder and then, you know,
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  they're just going to deal with it.
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  But what they're what they're actually trying to do is they're
• 2:30
  trying to negotiate. They're using this as a
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  bargaining chip so that hopefully what happens is these
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  other countries lower their tariffs and then we can get more
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  on a equal footing between each other.
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  But there is a lot of money to be made as well.
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  So I guess they're using that as, as another way to make money
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  for the country because if they do, if they do raise the
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  tariffs, which it seems like they're, it seems like they're
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  going to raise these no matter what by a certain percent.
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  And it's personally, I don't think it's going to come down by
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  let's say 10% because that's, that's what it seems like the
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  number is. Because what they did was they,
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  they hit every single country with a 10% increase in, in
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  tariffs. Or maybe it's like an add on, I
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  don't know what they call it. And then there was another list
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  of countries that were going to be hit with another tariff with
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  which what they're calling a is a reciprocal tariff, I guess,
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  meaning, oh, well, you guys do this to us, so now we're going
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  to do this to you. But they're not even.
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  It's not even as much as the other countries are charging.
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  It's half. So yeah, it's pretty interesting
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  to learn what other countries are kind of getting away with.
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  And a lot of this is controversial.
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  So, you know, depending on what side of the aisle you're on,
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  you're you're going to feel a certain way about this.
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  But. Yeah, let's, before we even
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  begin, let's define tariff. There's might be some young
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  people in here who don't really know.
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  OK, tell us what a tariff? Is a tariff is a tax imposed on
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  goods imported from another country.
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  These taxes are meant to increase the price of imported
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  goods, potential potentially encouraged, encouraging
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  consumers to buy locally instead.
• 4:14
  Yeah, that's, yeah, that's literally what this is.
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  Yeah, I mean, I get that, you know, last part of it getting
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  people to buy locally instead. But The thing is, we don't make
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  anything locally in America. Well.
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  Barely this. Can go like we could get into a
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  whole fucking like history lesson and I'm not the person to
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  to teach this to someone. Yeah, probably.
• 4:35
  It's much deeper. Yeah, but OK guys, what you
• 4:39
  heard there was a little excerpt from our Patreon Only podcast.
• 4:42
  These podcasts share industry info and other things we got
• 4:45
  going on here at the shop. We have two tiers right now over
• 4:48
  on our Patreon. Check them out, see which one
• 4:50
  fits your budget, enjoy the content and thank you for
• 4:52
  supporting.