Retaliatory Tariffs on US Would Have Severe Impact: Smart

The video discusses the implications of US tariffs and potential retaliatory actions by Mexico and Canada. It highlights the economic impact on sectors like agriculture, energy, and autos, and the resulting price increases for consumers. The discussion extends to global trade relations, with countries diversifying away from the US to mitigate risks. The role of multilateral organizations like the WTO is examined, along with potential legal challenges to executive orders on tariffs. The video concludes with insights into the responsibilities of Congress in trade matters.

How could the imposition of tariffs impact US manufacturing and supply chains?

What strategies might countries employ to reduce their exposure to the United States?

What legal challenges might arise from the executive orders on tariffs?