Trump Doesn’t Think Twice About His Looming Trade War | The Daily Show

a lot of people were against Trump’s idea
to impose tariffs on every nation in the world. But the strongest opposition came from within
the president’s own party. House Speaker
Paul Ryan’s spokeswoman releasing
the following statement warning against the move,
saying in a statement… That’s gonna turn around
and bite American citizens with much higher taxes, much
higher… much higher costs. It’s only gonna hurt American
consumers and our allies. Please reconsider your solution. Trump has really worn
Lindsey Graham down, like… Yeah, the presidency has
basically turned him into America’s most tired babysitter. He’s just like,
“No crayons on the furniture. Please consider your position.” And by the way,
am I the only person who still thinks it’s weird
that lawmakers have to go on TV just so they can speak
directly to their president? It’s like, “Thank you
for having me on, Wolf. “Now, listen, Mr. President, please don’t impose
the tariffs.” Like, it’s only a matter of time
before lobbyists start planting their agendas
inside Happy Meals. ‘Cause they know Trump
will find it. “Oh, boy! It’s Coco,
the Deregulating Panda!” But I’m not surprised
that they’re pulling out all the stops to try
and sway Trump. Because, you see,
economists have warned that starting a trade war could
increase the cost of living for Americans
across the board. Although,
according to Wilbur Ross, commerce secretary and living
Werther’s Original, the impact won’t be so bad. What I would like to do, though, is to emphasize, again,
the limited impact. In the can of Campbell’s soup, there’s about 2.6 cents, 2.6 pennies worth of steel. So if that goes up by 25%, that’s about six-tenths
of one cent on the price of a can of
Campbell’s soup. Well, I just bought
this can today at a 7-Eleven down here, and the price was $1.99. So who in the world is gonna be
too bothered by six-tenths of a cent? He’s so cute. It’s like you can’t even hear
what he’s saying. (muttering) He’s like a white Ben Carson
over here, you know? Yeah. Can you imagine him
and Ben Carson having a conversation together?
It would last forever. It would be, like, “Have I told
you about my soup cans?” And Ben would be like,
(mimics Carson): “The best can of all is the human skull.” (laughter, applause) Now… Now, Commerce Secretary Soup Dog
might be right that one individual can of soup
won’t go up a huge amount. But the problem is that
when America imposes a tariff like this, other
countries could retaliate, and then things escalate. The international community
is responding to President Trump’s
desired tariffs on steel and aluminum imports. TV REPORTER: Officials from the
European Union vowed to impose taxes
on U.S. goods, including Harley Davidson
motorcycles, bourbon whiskey
and Levi’s jeans. In turn,
President Trump threatened to tax European cars. If the E.U. wants
to further increase their already massive tariffs, he’ll add a tax on their cars. You see? It started at steel
and aluminum, and now we’re up to whiskey
and jeans. And, honestly, I think
the European Union is going about this
the wrong way. You’re not hurting Trump by
threatening Jim Beam and Levi’s, all right? Trump has never touched alcohol, and he doesn’t exactly have what
we call “jeans ass.” Okay? (laughter) And so now, you would think Trump getting all these bad
Yelp reviews on his tariff idea
would make him think twice. But, joke’s on you,
he doesn’t think once. President Trump is doubling down
on those tariff proposals. Yesterday he tweeted that trade wars are good
and easy to win. The truth is, trade wars aren’t
easy to win. In fact,
already a study has shown that even before a trade war, Trump’s tariffs, by themselves, could cost Americans
146,000 jobs. Yeah, and don’t forget,
the past two presidents tried this type of thing,
and it didn’t work. George W. Bush tried
steel tariffs, too, and studies showed
that they cost America far more jobs than they saved. And President Obama put tariffs
on tires, but they ended up costing
Americans thousands of jobs and nearly a billion dollars. Yeah, a billion dollars
on tires. I mean, I know us black guys
like spending money on wheels, but goddamn. Now, although Trump’s solution
may be extreme, that doesn’t mean
that he’s wrong about the underlying issue. Because the truth is, China is
dumping steel into the U.S. and it is hurting
American steel companies. So Trump is right
about the problem, but his solution will cause
even bigger problems. He’s like a doctor whose great
at the diagnosis, terrible at the cure.
You know, it’s just like, (mimics Trump:
You have skin cancer, so I’m gonna chop off your dick. Wait, what? But like it or not, Trump is the
doctor America chose, so it’s ultimately his call. So even if it’s bad policy, America could be headed
for a trade war, which, to be honest, of all the wars we thought Trump
could get us into… I mean, nuclear war,
a race war… a trade war is, like,
the least bad option, and… it’ll make the next Call of Duty
completely different. NEWSWOMAN:
President Trump threatening a surprise trade war
over steel. A wild week
made him eager for a fight. NEWSMAN: He said trade wars
are good. They’re easy to win. TRUMP: Well, I’d love
to have a trade war. MAN:
The president was wrong. Trade wars are hell. Hang on to your ass. We’re gonna raise
the price of steel. MAN:
We had no idea how cruel the enemy could be. You want to raise taxes
on steel? We will tax your jean shorts. You son of a bitch. -How much is a Bud Light now?
-Six bucks. You’re a long way
from Econ 101, bitch. Who in the world
is gonna be too bothered by six-tenths of a cent?

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