February 10, 2025, 6:03 pm
Sponsored by Ground News: Compare news coverage. Spot media bias. Avoid algorithms. Try Ground News today and get 40% off your subscription by going to https://ground.news/perun
We’ve talked a lot on this channel about what it takes for nations to fight conventional wars – but with a flurry of new US tariffs announced on targets from the PRC to Canada, Mexico I thought it was time to talk about the mechanics of trade wars.
While we mostly give the situation between the US and its tariff targets a bit more time to develop, today we’ll look at some of the theory behind trade wars, what factors can give nations advantages in them, as well as some of the risks that can be involved.
Patreon:
https://www.patreon.com/PerunAU
Reading and Sourcing (partial):
CRS – U.S-EU Trade Relations
https://crsreports.congress.gov/product/pdf/IF/IF10931
CRS – U.S. Crude oil imports from Canada and Mexico and Potential Tariffs
https://crsreports.congress.gov/product/pdf/IN/IN12488
Quotas (USA)
https://www.cbp.gov/trade/quota/guide-import-goods/commodities
White house on tariffs on Canada, Mexico & China
https://www.whitehouse.gov/fact-sheets/2025/02/fact-sheet-president-donald-j-trump-imposes-tariffs-on-imports-from-canada-mexico-and-china/
Currency reserves data
https://data.imf.org/?sk=e6a5f467-c14b-4aa8-9f6d-5a09ec4e62a4
"Dollar dominance" indicators – Atlantic council
Tariff Rate Quotas (Canada)
https://www.international.gc.ca/trade-commerce/controls-controles/notices-avis/trq_info_ct.aspx?lang=eng
Visual depiction of U.S. trade balance (2022)
https://www.visualcapitalist.com/largest-trading-partners-of-the-us/#google_vignette
EU on potential US tariffs
https://www.euronews.com/2025/02/03/eu-leaders-vow-to-fight-back-if-trump-imposes-tariffs
https://www.politico.eu/article/brussels-vows-firm-response-potential-donald-trump-tariffs-eu-braces-trade-war/
Reporting on Canadian Crude
https://oilprice.com/Energy/Crude-Oil/Canadian-Crude-Becomes-a-Bargain-for-China-as-US-Tariffs-Bite.html
PRC export restrictions
Reporting on consumption in PRC GDP
https://www.reuters.com/breakingviews/china-consumer-is-epitome-delayed-gratification-2024-11-04/
US made alcohol in Canada
https://www.ctvnews.ca/toronto/local/article/us-made-alcohol-products-will-remain-on-lcbo-shelves-after-tariffs-postponed/
Coffee image
PRC tarrifs on Australian wine
https://www.abc.net.au/news/2024-03-28/china-government-officially-abolishes-heavy-tariffs-on-wine/103644884
Malaysian and Indonesian export taxes
https://www.ofimagazine.com/news/malaysia-and-indonesia-hiking-export-taxes
Cybertruck in Europe
https://www.bbc.com/news/articles/cz0lldd30xlo
https://www.theguardian.com/technology/2024/oct/08/tesla-cybertruck-too-big-and-sharp-for-european-roads-say-campaigners#:~:text=%E2%80%9CCybertrucks%20present%20acute%20dangers%20and,kill%20people%20in%20a%20collision.
US oil export reporting
https://www.forbes.com/sites/rrapier/2024/03/19/from-ban-to-boom-us-set-new-oil-export-record-in-2023/
US LNG to EU
https://money.usnews.com/investing/news/articles/2025-02-03/europe-soaked-up-nearly-all-us-lng-exports-last-month-data-show#:~:text=Nearly%20nine%20of%20every%20ten,2024%2C%20according%20to%20LSEG%20data.
EU freezes Russian assets
https://www.theguardian.com/world/2024/dec/12/use-frozen-russian-assets-to-aid-ukraine-says-eus-top-diplomat
Russia joining WTO
https://www.politico.eu/article/eu-welcomes-russias-accession-to-wto/
WTO trade volume data
https://www.wto.org/english/res_e/statis_e/trade_evolution_e/evolution_trade_wto_e.htm
Caveats & Comments:
All normal caveats and comments apply. In particular – I would like to note as always that this material has been created for entertainment purposes and is not intended to be a complete or comprehensive examination of the topic in question and should not be relied upon to inform financial or other similar decisions.
Any content relating to the conduct, views, activities or any aspect of any person or character in this video is included for entertainment purposes and does not represent an assertion of fact on those matters or any matters in relation to that person or character.
Reporting on PRC investigations into US firms
https://www.reuters.com/technology/china-anti-monopoly-regulator-launches-probe-into-google-2025-02-04/
Timestamps:
00:00:00 — Opening Words
00:00:41 — What Am I Talking About?
00:03:35 — a Brief History
00:09:23 — Meet Your Trade Warriors
00:10:34 — Why a Trade War?
00:16:44 — Trade War Tools
00:30:37 — Making a Trade War Work
00:45:52 — Trade War Advantages & the US
00:55:25 — Forest Syndrome
00:59:45 — the Way Forward
01:00:59 — Channel Update
Content Creator – Perun
