Charles Payne Show February 4, 2025

All right, and his work yesterday to the subscribers, my next guest used about the fact that maybe everyone, just about everyone is getting it all wrong when it comes to President Trump and his goal with these tariffs. Now conventional wisdom, he says, is underestimating these goals. So let's bring him monetary macro.com, CIO, Joseph Wang and Joe. Let's start with the tariffs as revenue and maybe weaning off internal taxes and leaning more on external revenue streams. You showed a great chart of revenues.

好的，我的下一位嘉宾昨天向订阅者讲述了一个观点，即或许几乎所有人在涉及特朗普总统及其关税目标时都错了。他表示，传统观点低估了这些目标。那么，让我们请出monetarymacro.com的首席信息官 Joseph Wang。Joe，我们先从关税作为收入来源，以及可能逐步减少内部税收转而更多依赖外部收入流的问题开始谈起。你展示了一张很棒的收入图表。

If we just keep tariffs at Canada and Mexico, 25%, that would be a billion dollars over 10 years. Yesterday I used the chart from the Tax Foundation, a scenario where Trump's tariffs would bring in $4 trillion over 10 years. I mean, it sounds like a lot of money, would that be enough? Well, hey, Charles, thanks for having me. So yes, I think the market really misunderstands what this tariff thing is all about. Yes, sometimes you're for negotiation, but it's also very clear that they're about reshaping the global order and raising revenue.

如果我们对加拿大和墨西哥保持25%的关税，十年间就能获得十亿美元的收入。昨天我用了来自税务基金会的图表，显示一个情景：特朗普的关税政策在十年内将带来4万亿美元。我是说，这听起来像是很多钱，那够不够呢？哦，Charles，谢谢你邀请我。我认为市场真的误解了关税的真正意义。关税有时候是为了谈判，但也很明显，它们是为了重塑全球秩序和增加收入。

The president has gone out of the way and created an external revenue service to do that. Now use $4 trillion, it sounds like a lot, but seriously, we're in big trouble in terms of our fiscal situation, right? Two trillion deficits going on and on forever. Now this is not going to be the end all be all, but it's going to help in every little bit helps. And besides, if you really look at it, a lot of things could happen going into the future.

总统采取了非常规手段，设立了一个外部收入服务机构来推动此事。现在提出的4万亿美元，听起来很多，但说实话，我们的财政状况确实很糟糕，对吧？两万亿的赤字不断增加。这可能不是彻底解决问题的方法，但多少有所帮助。此外，如果你仔细想想，未来可能会发生很多变化。

Right now we're importing $3 trillion worth of stuff or volume weighted tariff rate is only 2.2%. Maybe we can continually raise that and so maybe we can really make a difference on the fiscal deficit, but I think it's a step in the right direction. You know, another area I think people are underestimating President Trump is with these overtures, you know, global overtures, Greenland, for instance. Of course, the administration has already had some success in Panama, but I think they want...

目前，我们正在进口价值3万亿美元的商品或服务，平均关税率仅为2.2%。也许我们可以不断提高关税，这样可能真的对财政赤字产生影响，我认为这是朝正确方向迈出的一步。还有一个我认为人们低估特朗普总统的领域，那就是他的全球策略，比如格陵兰。当然，政府在巴拿马已经取得了一些成功，但我认为他们想要更多……

even more. And you talk about that, right, that Trump may be having a global, bigger global footprint and maybe even Canada as a 51st state. Yeah, so, you know, President Trump talks a lot about President McKinley as being his favorite president. Now President McKinley is known for tariffs, that's true, but he's also known for other things as well. President McKinley gained Puerto Rico and X-Y, he enlarged the union.

当然，你提到特朗普可能在全球扩大影响力，甚至可能把加拿大作为第51个州。是的，特朗普总统经常谈论他最喜欢的总统是麦金莱。现在，麦金莱总统确实因关税而闻名，但他也以其他成就而著称。麦金莱总统获得了波多黎各等地，扩展了联邦版图。

Now President Trump has been making overtures for Canada for some time. He's been seeing it so much that I think he's actually quite serious just yesterday. I was listening to a press conference with him and he talked about Canada being that this is something that could happen if it was done right, because I'm paying and so forth. It didn't seem like he was joking. I think he wants his name in history books forever. Now I understand some Canadians don't like this, but from President's perspective, this is game changing.

现在，特朗普总统已经对加拿大表示了一段时间的友好意图。他提到这一点的频率如此之高，以至于我认为他是认真的。就在昨天，我听了他的一场新闻发布会，他提到加拿大，说如果做得对，这件事是可以实现的，因为他在负担费用等等。他看起来不像是在开玩笑。我认为他想让自己的名字永远载入史册。我知道有些加拿大人不喜欢这样，但从总统的角度来看，这是改变游戏规则的举动。

And Canadians are a great people, they got a lot of great resources. And culturally, I think we're quite similar, right? We are basically family and have been for many years. So I don't think it's unreasonable. And Greenland, of course, I think that's a work in progress, but it is a small country from what I hear. It's a deal that could happen, right? I mean, we could just give each of 60,000 people there, each of them a million dollars. It'd be the best real estate deal in the world.

加拿大人是一群伟大的人，他们拥有很多优秀的资源。在文化上，我认为我们非常相似，对吧？我们基本上像一家人，而且多年来一直如此。所以我认为这并不不合理。至于格陵兰，当然我认为那里还在发展中，据我所知这是一个小国家。这个交易可能会发生，对吧？我的意思是，我们可以给那里每位6万名居民一人一百万美元。这将会是世界上最好的房地产交易。

I really believe that the native folks there do want this deal. I really do. And Denmark has been making some overtures. Listen, I love our friends to the north, but they work only 32 hours a week in the GDP per capita is a little bit less than Mississippi. So I don't know. They should be asking that to jump into the fold, but we'll see. Joe, thanks a lot, my friend. Baby. Thank you, Charles.

我真的相信那边的当地人确实想要这项协议，真的。丹麦一直在试探。我很喜欢我们北方的朋友，但他们每周只工作32小时，人均GDP比密西西比州还少。所以我不确定他们是否应该主动加入，我们拭目以待吧。乔，非常感谢你，我的朋友。宝贝，谢谢你，查尔斯。