The President's Daily Brief PDB Situation Report | April 19th, 2025: How Long Can The Tariff War Last & A Ground Campaign Coming In Yemen?
Apr 19, 2025
Preston Brashers, a research fellow at the Heritage Foundation, discusses the escalating U.S.-China tariff war, revealing its profound economic impacts on both nations as factories shut down and exports plummet. Bill Roggio, a senior fellow at the Foundation for the Defense of Democracies, delves into the impending ground offensive in Yemen, exploring how renewed fighting and U.S. airstrikes could reshape the conflict. Their insights shed light on the complex interplay between international trade and military strategy.
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Understanding Tariffs' Role
- Tariffs serve as a tax on imported products and impact both intermediate goods and consumer products.
- President Trump’s tariffs include exemptions to mitigate immediate impacts on some goods.
Tariffs' Historical Revenue Role
- U.S. tariffs once funded most government revenue before the income tax in 1913.
- Today, tariffs are a smaller revenue source due to the expansion of income tax and globalization.
Tariffs and Trade-Offs
- Recognize trade-offs with tariffs, including potential domestic price increases.
- Use tariffs strategically for national security and to address unfair trade practices like IP theft.