Just heard David Sachs say on the All In Pod, in regards to the new tariff deal, something along the lines of, “the Europeans will pay the new15% tariff”.

And I continually hear pundits and talking heads of this admin say this.

What I can’t figure out is if they’re lying - or just dumb (and this isn’t a knock against any political party. I pretty much hate them all equally).

If you mfg a product from scratch in America today, most of the time, you’re going to have to get SOME raw material from abroad. Because so much of our mfg has left. Especially within apparel. There are exceptions of course. But generally speaking, most mfg’s in America are getting some part or material from overseas. Because they can’t get it here.

And we - the businesses making the products here - pay the 15% tariff on that raw material - not Japan, not France. American companies do.

Now - you could make the case that, this tariff is there to incentivize entrepreneurs in America, to develop and start making some of these raw materials here. And that’s a fair point. And I hope that happens. But they’re not saying that. They’re saying these other countries are paying it. And they’re not. We are.

For example, our denim shirt. We buy that denim from a mill in Italy. And then we wash it, cut it, sew it from scratch into a western shirt in America. I can’t get that denim here anymore. And I don’t have $30M to build a denim mill right now. So if I want to make a sick denim western shirt, in America, I HAVE to buy the fabric from overseas.

And when we bring that denim in through customs - that 15% tax - we get the bill. Not Italy. Not the mill. West Major.

It’s fine - we’ll deal with it. But it drives me crazy they keep gaslighting the public into thinking these other countries pay these tariffs when that isn’t the case.

And I’m not saying the policy is good or bad - I’m just saying the way they’re talking about it isn’t accurate.