Dana B | Dana Learns
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00:00Mr. Beers. Francis. You look like it's your first day of ninth grade. You know,
00:05you should enjoy it. You should enjoy what you're wearing while you can.
00:08Yeah. Clothes are about to get a lot more expensive. I feel fine. Do you know why
00:12clothes are about to get much more expensive? Interest rates. Because I'm
00:17getting married? No. Where do our clothes come from? Oh, tariffs. You're giving me
00:23tariffs today. Tariffs are just taxes on imported goods. Stuff we get from other
00:28countries. Correct. Yeah. Any idea what the reasons why we might impose tariffs are?
00:32You can't just fucking get shit for free. You know? What? What does that mean? Because we
00:42give stuff to other people. So we can't just give away our stuff for free because
00:48if we do then we need to get something in return. You know, you're not there. If
00:54maybe I change some of the word structure. You're doing what I think young
00:59children do in school where you think if you say enough the teacher will mold
01:04what you've said into a right answer. But I'm not that type of a teacher. Well
01:08that's what I, yeah. I give you zero credit. Sees get degrees. There are a
01:13couple of reasons why you might impose a tariff. One is because there are unfair
01:20tariffs being imposed upon our country as we send our goods out. Right? That's what
01:27I said. No, it isn't. I said we can't, if we were to just give away stuff for free, then
01:34that's not, then we need something on the other side. You know? Oh yeah. Don't do that. Don't do the condescending tone.
01:47I know. Don't do that. What you just said is what I was thinking in my brain. Like, I just couldn't do the word.
01:54Yeah, I know that. But because this is a teaching show, we can't have your wrong answers stand.
02:00We have to correct it for the record. Okay. If we're sending our goods to another
02:07country, right, and they're charging a much higher tariff for our goods to come in to them, in theory that might discourage that
02:16that country and its buyers and its consumers from buying American goods because they're much more expensive.
02:22expensive. Yes. To counteract that or to maintain like a fair trade practice, we might say to that country, you know what?
02:29If you guys are charging 10% on Jeeps or Ford pickup trucks to come in so that you discourage your population from buying our trucks so that they will prefer to buy,
02:44you know, let's say if it were Japan, like they prefer to buy Subarus or whatever. We think that's bullshit. And so we are going to raise our tariff on Japanese made goods that come to America.
02:56It's like a game of chess. Yeah. You know, there's a lot of moving pieces. Have you ever played chess? Not like professionally. Oh. You know what I mean?
03:04I thought maybe you had played it professionally. No, like not seriously. You strike me as more of a checkers guy. Actually, I don't know how to play checkers. Maybe more of a candy land guy.
03:16Operation. I love pulling a little thing out. Gotcha. Yeah, that's fun. I think you pull out bones. Yeah. Another reason we might impose tariffs is actually to raise government revenue. And then the third and final reason is to protect certain industries from foreign competition.
03:33foreign competition. Right. Boy, that's a long pause. I was just trying to break down the words. Let's say, you know, the steel industry, like historically American steel was the world powerhouse of steel.
03:49Were the top dogs. I think so. And now steel can be made more cheaply in other countries. So in order for us to protect our steel trade,
03:59we are going to create a higher tariff on steel brought in from other countries.
04:04We're not even going to waste our time with that shit. You got to have, you got to reach a certain, certain threshold to send steel over here.
04:11No. Dude. Like, I don't even know how you got that from what I said. You said, you said you have to impose a certain tariff, amount of tariff.
04:21I don't know what you said. What's a good that's made in America? Trees. Lumber. Yeah. That's what I meant.
04:29When you talk about where the price of American lumber is set and what goes into setting the price of American lumber.
04:35What? The cost of the labor that went into cutting it, the cost of getting it, you know, onto the shelves and sort of stocked at a Home Depot.
04:44At Lowe's. Yeah. Yeah. These are all the different things that help set that price.
04:48Lumber that is made in Venezuela, right? Or sourced from Venezuela. Well, they have cheaper labor.
04:56They have cheaper shipping costs. It costs less for them, for so many reasons, to cut down trees and treat it and get it into Home Depot.
05:06I have a buddy that we used to work at Lowe's. Yeah? He works a 2 to 11 shift. 2 p.m. to 11? On the mulch wall.
05:13P.m.? Yeah. Why were they open so early? I don't know. That was his shift. We always used to make fun of them.
05:18On the mulch wall? Tossing the mulch up there. Oh, yeah. With the forklift and everything. Yeah, yeah, yeah. We still make fun of them to this day.
05:24Why? Oh, it's a fun job. It's more the shift hours. Yeah, the shift. Because you can never hang out with us.
05:29There's no window you can hang out with a 2 to 11 guy. Yeah, yeah. Ever.
05:34That's what I basically got out of that conversation. Your brain is a brick wall.
05:38Your brain charges a 400% tariff on incoming information. No, I'm trying to, like, connect, like, plug in the power to the wall.
05:48And it's just not, it's just missing every time. But I'm willing to try. Yeah.
05:52I'm never gonna go into class and walk out. I'm gonna sit my ass down and say, Teacher Francis, keep trying.
06:00Okay. I might fail the test. You will. But I'm gonna show up to the test.
06:04Oh, attendance is everything. Right now, we're in a place where I think we are trying to play a game of hardball with China.
06:14Because we source a lot of goods from China. Mm-hmm.
06:18But China also, conversely, relies on exporting goods to America. That's a huge part of their revenue.
06:24By us raising our import tariff on Chinese goods. Yep.
06:30China suffers. Are we the ones that are starting the beef? Or do they start the beef?
06:34That is a political question. Mm-hmm.
06:36You could argue that the beef was started because China had a very imbalanced trade agreement with us.
06:45Okay. That benefited them far more than it benefited us. All right.
06:48We are trying to protect against being taken advantage of. So that's tariffs.
06:54That's really easy. Yeah. It didn't make any sense to me, but I know it's a hot topic in the streets.
06:59It is. Yes. Yeah. All right. Good luck, brother. Thanks, Francis.