The President's Daily Brief
March 5th, 2025: Food, Cars & Tech: Here's What You'll Pay More For Under The New Tariffs & The Unlikely Iran Deal Broker
05 Mar 2025
In this episode of The President's Daily Brief: New tariffs on Canada, Mexico, and China just went into effect—so what does that mean for your wallet? We’ll break down where you can expect to pay more as the effects start hitting. A major curveball in Middle Eastern relations—reports say the U.S. could turn to Russia to help broker a new Iranian nuclear deal. Taiwan Semiconductor Manufacturing is committing $100 billion to expand chip production in the U.S. It’s a huge investment with major implications for both the economy and national security. And in today’s Back of the Brief—as protests flare up again on college campuses nationwide, Donald Trump is threatening to cut federal funding for any school that allows illegal demonstrations. We’ll break down what he said and what it could mean. To listen to the show ad-free, become a premium member of The President’s Daily Brief by visiting PDBPremium.com. Please remember to subscribe if you enjoyed this episode of The President’s Daily Brief. YouTube: youtube.com/@presidentsdailybrief Learn more about your ad choices. Visit megaphone.fm/adchoices
Full Episode
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It's Wednesday, 5 March. Welcome to the President's Daily Brief. I'm Mike Baker, your eyes and ears on the world stage. Let's get briefed. New tariffs on Canada, Mexico and China just went into effect. So, you ask yourself, what does that mean for your wallet? And how long might they be in effect?
Well, we'll take a look at what the tariffs could mean when it comes to the prices you pay for stuff. And that's not the sort of sentence that you would get from some pipe-smoking highbrow economist. Later in the show, a major curveball in Middle Eastern relations. Reports say that the US could turn to Russia to help broker a new Iranian nuclear deal.
Rumor has it that Russian delegations have made multiple visits to Iran during the past year and a half. Plus, the chip company, Taiwan Semiconductor Manufacturing, is committing 100 billion, that's with a B, dollars to expand chip production in the US. Now, it's a huge investment, obviously, with big implications, not just for the economy, but also for national security.
Und in heute's Back of the Brief. As protests flare up again on college campuses nationwide, President Trump is threatening to cut federal funding for any school that allows illegal demonstrations. We'll examine what he said and what it could mean. But first, today's PDB Spotlight. The latest trade battle is officially underway.
With new tariffs in place against Canada, Mexico and China, President Trump is taking a hard-line stance on trade. But beyond the geopolitical maneuvering, these tariffs, well, they do have real consequences for American consumers. From groceries to electronics to cars, prices are set to rise, potentially reshaping household budgets across the country.
Of course, the big question is, are the tariffs temporary? And if so, well, how temporary? Given the pace of change and activity coming out of the White House, don't be surprised if the tariffs are gone by the end of the week. As a reminder, on Tuesday, President Trump imposed 25% tariffs on most imports from Mexico and Canada, with Canadian energy imports subject to a 10% tax.
He also doubled duties on Chinese goods to 20%. The US now is the largest importer of foreign goods, with those targeted countries making up America's top three global suppliers, meaning that nearly 2.2 trillion, that's with a T, in annual trade could be impacted. And that's according to an analysis from Reuters.
Economists are already warning that the trade measures will likely spike the price of an array of consumer goods, putting significant strain on Americans that have already been battered by years of rising inflation. Supporters of the tariffs argue, it's a necessary move to protect American industries and to counter unfair trade practices.
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