Phillip W. Magness, Senior Research Fellow and David J. Theroux Chair in Political Economy at the Independent Institute, analyzes the historical parallels and economic consequences of Trump's tariff policies, warning of potential recession risks and diminished U.S. global standing. *This video was recorded on May 7, 2025.Use my promo codes to get a 10% discount on BTC Vegas (May 27-29), the world's biggest Bitcoin conference:BTC Vegas 2025: https://tickets.b.tc/event/bitcoin-20...BitcoinAsia: https://tickets.b.tc/event/bitcoin-as...Subscribe to my free newsletter: https://davidlinreport.substack.com/Listen on Spotify: https://open.spotify.com/show/510WZMF...Listen on Apple Podcasts: https://podcasters.spotify.com/pod/sh...FOLLOW PHIL MAGNESS:X (@PhilWMagness): https://x.com/PhilWMagnessThe Independent Institute website: https://www.independent.org/Anti-Tariff Declaration: https://anti-tariff.org/FOLLOW DAVID LIN:X (@davidlin_TV): https://x.com/davidlin_TVTikTok (@davidlin_TV):   / davidlin_tv  Instagram (@davidlin_TV):   / davidlin_tv  For business inquiries, reach me at [email protected]*This video is not financial advice. The channel is not responsible for the performance of sponsors and affiliates.0:00 - Intro1:37 - Tariff consequences3:26 - Depression?4:50 - Tariff legal challenges8:49 - Economic history of tariffs13:50 - Multi-polar world15:20 - Impact of tariff status quo20:00 - How do tariffs work?23:08 - The Fed’s dilemma26:58 - Market reactions#economy #tariffs #stocks