Joe Lonsdale

And, and they did take away a lot of our manufacturing, you know, in certain areas. And then, and then like, we had this naive view that like, if you just give China, uh, this like WTO entrance and you trade with them and make them rich, they're not going to be communist anymore. And that naive view is shown to be totally wrong. About 10 years ago, you had this crazy communist in charge.

He's murdered a bunch of people. He's like, he's like completely in charge. He's not, he's not, he's not a pro-market guy. He's not a freedom guy. He's, he's clearly like, he's, you know, if in his youth, he would sing poems about hardening your heart to destruction of America. He's clearly doing things to hurt America. And so these people have taken advantage of us around the world.

He's murdered a bunch of people. He's like, he's like completely in charge. He's not, he's not, he's not a pro-market guy. He's not a freedom guy. He's, he's clearly like, he's, you know, if in his youth, he would sing poems about hardening your heart to destruction of America. He's clearly doing things to hurt America. And so these people have taken advantage of us around the world.

He's murdered a bunch of people. He's like, he's like completely in charge. He's not, he's not, he's not a pro-market guy. He's not a freedom guy. He's, he's clearly like, he's, you know, if in his youth, he would sing poems about hardening your heart to destruction of America. He's clearly doing things to hurt America. And so these people have taken advantage of us around the world.

China has definitely not become free. It's definitely stolen away a lot of our manufacturing base. And so what are the tariffs that are good? I'll give you a few examples. One tariff is definitely good. Let's say it's cheaper to manufacture something in like Indonesia or China because they're polluting and because the pollution to not pollute costs a lot of money. So that's obvious.

China has definitely not become free. It's definitely stolen away a lot of our manufacturing base. And so what are the tariffs that are good? I'll give you a few examples. One tariff is definitely good. Let's say it's cheaper to manufacture something in like Indonesia or China because they're polluting and because the pollution to not pollute costs a lot of money. So that's obvious.

China has definitely not become free. It's definitely stolen away a lot of our manufacturing base. And so what are the tariffs that are good? I'll give you a few examples. One tariff is definitely good. Let's say it's cheaper to manufacture something in like Indonesia or China because they're polluting and because the pollution to not pollute costs a lot of money. So that's obvious.

First, tariff that right away, right? Because you don't want to just let them pollute, right? I don't think anyone would disagree with that no matter what your view is. I think another one that's good is that we need something for our defense industrial base where we need to be able to make it here in order to our defense department to be able to win.

First, tariff that right away, right? Because you don't want to just let them pollute, right? I don't think anyone would disagree with that no matter what your view is. I think another one that's good is that we need something for our defense industrial base where we need to be able to make it here in order to our defense department to be able to win.

First, tariff that right away, right? Because you don't want to just let them pollute, right? I don't think anyone would disagree with that no matter what your view is. I think another one that's good is that we need something for our defense industrial base where we need to be able to make it here in order to our defense department to be able to win.

Or pieces that go into making tanks or planes or drones or whatever. Obviously, tariff some of that supply chain. We need it here. We need to build it here and subsidize it here. I think those are obvious. And then you get into more complicated things. I'm generally pro-free trade, but if you look at what happened to Margaret Thatcher in 1979, she was very pro-free.

Or pieces that go into making tanks or planes or drones or whatever. Obviously, tariff some of that supply chain. We need it here. We need to build it here and subsidize it here. I think those are obvious. And then you get into more complicated things. I'm generally pro-free trade, but if you look at what happened to Margaret Thatcher in 1979, she was very pro-free.

Or pieces that go into making tanks or planes or drones or whatever. Obviously, tariff some of that supply chain. We need it here. We need to build it here and subsidize it here. I think those are obvious. And then you get into more complicated things. I'm generally pro-free trade, but if you look at what happened to Margaret Thatcher in 1979, she was very pro-free.

free trade and she opened it up to the EU and in 1989 she said it was one of her biggest mistakes she ever made because what she didn't realize is that when she opened up UK to the EU market they basically put Brussels as a bureaucracy in charge of everything which was terrible it's a total mess and so you gotta be very careful what you're opening yourself up to in terms of other people being in charge effectively now of your rules you give up sovereignty so that's the reason it's bad

free trade and she opened it up to the EU and in 1989 she said it was one of her biggest mistakes she ever made because what she didn't realize is that when she opened up UK to the EU market they basically put Brussels as a bureaucracy in charge of everything which was terrible it's a total mess and so you gotta be very careful what you're opening yourself up to in terms of other people being in charge effectively now of your rules you give up sovereignty so that's the reason it's bad

free trade and she opened it up to the EU and in 1989 she said it was one of her biggest mistakes she ever made because what she didn't realize is that when she opened up UK to the EU market they basically put Brussels as a bureaucracy in charge of everything which was terrible it's a total mess and so you gotta be very careful what you're opening yourself up to in terms of other people being in charge effectively now of your rules you give up sovereignty so that's the reason it's bad

And then, I mean, finally, and this is where it gets like everyone really argues, but like in general, I don't think small consumption taxes are bad. I think overall they're better than income and capital gains taxes. So I think a small one probably makes sense. And then I guess the very last one, of course, is yes, we went from 30% manufacturing to 10% over the last 30 years.

And then, I mean, finally, and this is where it gets like everyone really argues, but like in general, I don't think small consumption taxes are bad. I think overall they're better than income and capital gains taxes. So I think a small one probably makes sense. And then I guess the very last one, of course, is yes, we went from 30% manufacturing to 10% over the last 30 years.

And then, I mean, finally, and this is where it gets like everyone really argues, but like in general, I don't think small consumption taxes are bad. I think overall they're better than income and capital gains taxes. So I think a small one probably makes sense. And then I guess the very last one, of course, is yes, we went from 30% manufacturing to 10% over the last 30 years.

Should all of that be in the U.S.? Probably not. Some of those jobs are just not things we want. Should more of it probably be in the US for more of what we do? Probably. So listen, it's not totally insane. There's dumb tariffs, which is like tariffing coffee or vanilla, and there's tariffs that are too high to break things with our allies.