Trump Tariffs BLOW UP In Farmer Crisis As Layoffs Skyrocket Across Major Companies

Tariffs imposed are causing significant harm to American companies, including major manufacturers like John Deere, Ford, and General Motors. John Deere has announced layoffs of 71 workers in Waterloo, Iowa, 115 in East Moline, Illinois, and 52 in Moline, Illinois, citing uncertainty surrounding tariffs as a primary driver for farmers delaying equipment investments. Ford expects its profits to plunge by up to 36%, with a $2 billion hit due to tariffs on steel, aluminum, and auto components. General Motors reported a $3 billion profit drop and anticipates a further $5 billion decrease, attributing these losses directly to the tariffs.

These economic impacts are not limited to large corporations but also affect traditional American businesses and workers in "red states." The speaker emphasizes that these companies themselves are stating that the tariffs are the direct cause of layoffs and profit reductions, a point seemingly ignored by certain political figures. The situation is presented as a consequence of specific economic policies, leading to widespread financial strain on businesses and job losses across the country.

The speaker questions why these impacts, particularly layoffs affecting presumably conservative workers in stereotypically American areas, are not receiving more attention from media outlets. The narrative highlights a perceived double standard in reporting on economic downturns and job losses, contrasting past coverage with the current lack of focus on the detrimental effects of these tariffs on American industry.

• Tariffs are causing widespread harm to American companies, including John Deere, Ford, and General Motors.
• John Deere has laid off a total of 238 workers across three locations in Iowa and Illinois, attributing it to tariff-related farmer uncertainty.
• Ford anticipates a profit plunge of up to 36% and a $2 billion hit due to tariffs on steel, aluminum, and auto components.
• General Motors' profits have fallen by $3 billion, with expectations of another $5 billion drop due to tariffs.
• The speaker questions the lack of media attention on these tariff-induced job losses, especially in traditionally American areas.

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John Deere Layoffs and Farmer Uncertainty [00:00]

• Tariffs are causing widespread harm to American companies.
• John Deere is laying off 71 workers in Waterloo, Iowa, 115 in East Moline, Illinois, and 52 in Moline, Illinois.
• These layoffs have been occurring for over a year.
• The president of John Deere cited uncertainty surrounding tariffs as leading farmers to delay investments in farm equipment.
• Farmers are waiting to see the outcomes of trade deals in a tariff environment before investing.
• Tariff rates on Europe and India have increased, with India's tariff raised by 50%, negatively impacting John Deere.
• The company anticipates a rough next couple of quarters due to these tariffs.

The company attributes recent layoffs and a negative outlook to the uncertainty and increased rates associated with tariffs, particularly affecting farmers' investment decisions. This economic pressure is expected to continue for the coming quarters.

"If you have customers that are concerned about what their end market are going to look like in a tariff environment, they're waiting to see the outcomes of what these trade deals look like."

Ford and General Motors Profit Declines [01:53]

• Ford's profits could plunge by up to 36% this year, with an expected $2 billion hit.
• This impact is linked to tariffs on steel and aluminum, as well as car components manufactured in Canada and Mexico.
• General Motors reported a $3 billion profit fall in the previous quarter due to Trump's tariffs.
• They anticipate their profits could drop by another $5 billion in the next quarter.
• These financial setbacks are bad for the companies, stockholders, and hiring.

The significant financial repercussions for Ford and General Motors are directly attributed to tariffs on various materials and components, leading to substantial profit reductions and impacting overall business health.

"General Motors last month said the Trump tariffs are a major reason why its profits fell $3 billion the previous quarter."

Political and Media Commentary on Tariffs [02:30]

• The speaker argues that the economic consequences of tariffs are clear and that the only person in America who doesn't accept this is Donald Trump.
• The situation is described as chaotic and difficult to fight against.
• The tariffs are called a "dumb thing" that has been done.
• There is a call for people to "rise up and do something about this guy and all of his policies."
• It is suggested that Republicans in Congress are unlikely to take action.
• The speaker questions why media outlets, specifically mentioning Fox, are not covering these tariff-related job losses.
• The argument is made that layoffs at companies like John Deere, which are stereotypically American, should be newsworthy, regardless of the political leanings of the workers.
• A contrast is drawn with the past, when firings under Joe Biden were discussed, questioning why similar coverage is absent now.

The commentary criticizes the lack of acknowledgment of the negative impacts of tariffs and questions the media's focus, suggesting a selective approach to reporting on economic downturns and job losses.

"The thing is, people are going to notice even if they pretend not to."