How investors should actually think about tariffs

Here's how recent tariffs on Mexico, Canada and China could dampen economic growth.

Transcript

00:00These things kind of escalate. And if you if you put tariffs on other countries, they're going to

00:04put tariffs on us and we're much stronger than them. So they'll they'll yield before we do. But

00:10it's really bad for global growth in the aggregate. It's bad for domestic growth,

00:15specifically to us. I don't see this changing anytime soon. I think this is the president's

00:20been very clear. This is something he believes in and wants to produce. And I think Warren Buffett

00:25has been very clear in saying this is a tax and it is a tax. It's a tax on foreign countries. It's

00:30a tax on the American consumer. And it's going to lead to inflation. It's going to lead to higher

00:34prices for everything. And it's it's not good for economic growth. So am I in favor of this?

00:39Absolutely not. Will it play out anyway? Absolutely. So we're going to have to live

00:45with this is part of part of the world we live in currently. I'm a very long term investor,

00:49so I make my investments based on what I think is going to happen five or even 10 years down the

00:54line. So I'm not a trader. I don't do things day to day or even month to month. I have very long

01:00commodities right now, though. I think inflation is here to stay for quite a while. And I think

01:05natural gas is going to be high for a long time to come after a 10 year period of very soft prices

01:11on that. So I'm really focused on commodities. I'm focused on overseas stocks. I'm focused on

01:18value stocks. I'm focused on all the things that have been out of favor for about the past 15

01:22years because I think the worm is going to turn.