The WealthAbility Show with Tom Wheelwright, CPA Global Domino Effect of Trump’s Tariffs
Jul 31, 2025
49:04
👉 https://bit.ly/41d3Kmy 👈 CLICK HERE Ready to change your financial future? Join Tom Wheelwright, Robert Kiyosaki's CPA, and apply to the WealthAbility Accelerator today!
President Trump seems to be upsetting the entire world economy and has changed things dramatically on the world stage via tariffs, taxation and everything else. Is this good or bad? Permanent or temporary? Join Tom Wheelwright as he explores Trump's dramatic impact on the entire global economy and where it all may lead with his guest, Richard Duncan, author of “The Money Revolution.”
Richard Duncan is the author of four books analyzing the causes and the effects of the economic crises that have brought the global economy to the brink of collapse during recent decades. Since beginning his career as an equities analyst in Hong Kong in 1986, Richard has served as global head of investment strategy at ABN AMRO Asset Management in London, worked as a financial sector specialist for the World Bank in Washington D.C., and headed equity research departments for James Capel Securities and Salomon Brothers in Bangkok. Richard has appeared frequently on CNBC, CNN, BBC and Bloomberg Television, as well as on BBC World Service Radio. His books have been reviewed in the Financial Times and The Economist, and taught at Harvard and Columbia.
In this episode, discover the economic benefits and downsides of our current global trade market, who exactly will pay for the tariffs, who wins - and who may lose.
Order Tom’s book, “The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make” at: https://winwinwealthstrategy.com/
00:00 - Intro.
06:03 - Is Trump changing the nature of international trade with his tariffs?
10:30 - How China became the second superpower via trade surplus with the U.S.
14:06 - Downsides of trade and budget deficits: Income inequality, global credit bubble, declined standard of living for middle class, and more.
18:50 - Big Beautiful Bill’s impact on the US & in the world economy.
23:20 - Who will pay for these tariffs?
27:40 - Inflation will increase with these tariffs.
31:20 - The President vs. The Fed.
36:44 - The positive side to Trump’s tariffs.
40:45 - Trump’s sovereign fund.
Looking for more on Richard Duncan?
Book: “The Money Revolution”
Website: richardduncaneconomics.com
Facebook: facebook.com/pages/Richard-Duncan-Economics-in-the-Age-of-Paper-Money/
X/Twitter: twitter.com/papermoneyecon
Youtube: www.youtube.com/channel/UCETpGkZWbafIVuNnzqB5ebA
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👔 ABOUT TOM: https://www.wealthability.com/tom/
💸 WEALTHABILITY LIVE: https://www.wealthability.com/wealthability-live/
🎓 EDUCATIONAL PRODUCTS: https://www.wealthability.com/
📕 TOMS BOOK "TAX FREE WEALTH": https://taxfreewealthbook.com
📰 SIGN UP TO TOM’S WEEKLY REPORT: https://wealthability.com/getreport/
🎙️ FOLLOW THE PODCAST ON SPOTIFY: https://bit.ly/4bgs37w
🎙️ FOLLOW THE PODCAST ON ITUNES: https://bit.ly/3Qwh3tl
💰 WORK WITH A TFW ADVISOR: https://tfwadvisors.us/contact-us/
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📺 JOIN THE CHANNEL: https://www.youtube.com/@TomWheelwrightCPA
FOLLOW US ON INSTAGRAM💜
@Tom_Wheelwright
ABOUT US:
Tom Wheelwright is the founder and CEO of WealthAbility and TFW Advisors, a leading authority on tax strategy and wealth building. He is the best-selling author of Tax-Free Wealth and a trusted advisor to Robert Kiyosaki. As a world class CPA, Tom is dedicated to empowering entrepreneurs and investors to reduce their tax burden and achieve financial freedom. He currently resides in Phoenix, Arizona.
DISCLAIMER:
WealthAbility® does not provide tax, legal or accounting advice. The materials provided have been prepared for informational purposes only, and are not intended to provide tax, legal or accounting advice. The materials may or may not reflect the most current legislative or regulatory requirements or the requirements of specific industries or of states. These materials are not tax advice and are not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer. Readers should consult their own tax, legal and accounting advisors before applying the laws to their particular situations or engaging in any transaction.
President Trump seems to be upsetting the entire world economy and has changed things dramatically on the world stage via tariffs, taxation and everything else. Is this good or bad? Permanent or temporary? Join Tom Wheelwright as he explores Trump's dramatic impact on the entire global economy and where it all may lead with his guest, Richard Duncan, author of “The Money Revolution.”
Richard Duncan is the author of four books analyzing the causes and the effects of the economic crises that have brought the global economy to the brink of collapse during recent decades. Since beginning his career as an equities analyst in Hong Kong in 1986, Richard has served as global head of investment strategy at ABN AMRO Asset Management in London, worked as a financial sector specialist for the World Bank in Washington D.C., and headed equity research departments for James Capel Securities and Salomon Brothers in Bangkok. Richard has appeared frequently on CNBC, CNN, BBC and Bloomberg Television, as well as on BBC World Service Radio. His books have been reviewed in the Financial Times and The Economist, and taught at Harvard and Columbia.
In this episode, discover the economic benefits and downsides of our current global trade market, who exactly will pay for the tariffs, who wins - and who may lose.
Order Tom’s book, “The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make” at: https://winwinwealthstrategy.com/
00:00 - Intro.
06:03 - Is Trump changing the nature of international trade with his tariffs?
10:30 - How China became the second superpower via trade surplus with the U.S.
14:06 - Downsides of trade and budget deficits: Income inequality, global credit bubble, declined standard of living for middle class, and more.
18:50 - Big Beautiful Bill’s impact on the US & in the world economy.
23:20 - Who will pay for these tariffs?
27:40 - Inflation will increase with these tariffs.
31:20 - The President vs. The Fed.
36:44 - The positive side to Trump’s tariffs.
40:45 - Trump’s sovereign fund.
Looking for more on Richard Duncan?
Book: “The Money Revolution”
Website: richardduncaneconomics.com
Facebook: facebook.com/pages/Richard-Duncan-Economics-in-the-Age-of-Paper-Money/
X/Twitter: twitter.com/papermoneyecon
Youtube: www.youtube.com/channel/UCETpGkZWbafIVuNnzqB5ebA
-----
👔 ABOUT TOM: https://www.wealthability.com/tom/
💸 WEALTHABILITY LIVE: https://www.wealthability.com/wealthability-live/
🎓 EDUCATIONAL PRODUCTS: https://www.wealthability.com/
📕 TOMS BOOK "TAX FREE WEALTH": https://taxfreewealthbook.com
📰 SIGN UP TO TOM’S WEEKLY REPORT: https://wealthability.com/getreport/
🎙️ FOLLOW THE PODCAST ON SPOTIFY: https://bit.ly/4bgs37w
🎙️ FOLLOW THE PODCAST ON ITUNES: https://bit.ly/3Qwh3tl
💰 WORK WITH A TFW ADVISOR: https://tfwadvisors.us/contact-us/
🎓 BECOME A TFW ADVISOR: https://tfwadvisors.us/franchise/
📺 JOIN THE CHANNEL: https://www.youtube.com/@TomWheelwrightCPA
FOLLOW US ON INSTAGRAM💜
@Tom_Wheelwright
ABOUT US:
Tom Wheelwright is the founder and CEO of WealthAbility and TFW Advisors, a leading authority on tax strategy and wealth building. He is the best-selling author of Tax-Free Wealth and a trusted advisor to Robert Kiyosaki. As a world class CPA, Tom is dedicated to empowering entrepreneurs and investors to reduce their tax burden and achieve financial freedom. He currently resides in Phoenix, Arizona.
DISCLAIMER:
WealthAbility® does not provide tax, legal or accounting advice. The materials provided have been prepared for informational purposes only, and are not intended to provide tax, legal or accounting advice. The materials may or may not reflect the most current legislative or regulatory requirements or the requirements of specific industries or of states. These materials are not tax advice and are not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer. Readers should consult their own tax, legal and accounting advisors before applying the laws to their particular situations or engaging in any transaction.