As tariffs take center stage in U.S. policy discussions, concerns about their long-term economic impact are rising. In a recent episode of America’s Gold Authority® Podcast, host Remmy Castillo sat down with three experts—Philip Diehl, former Director of the U.S. Mint and Treasury Chief of Staff; Brad Chastain, Director of Education at U.S. Money Reserve; and Sales Director Patrick Brunson—to unpack what new tariffs could mean for American consumers and investors.
What Are Tariffs—And Who Really Pays?
Philip sets the record straight early: tariffs are taxes, plain and simple. They’re applied to goods imported into the country, and while foreign manufacturers may pay those taxes initially, the added costs eventually fall to U.S. consumers. A 25% tariff on raw materials like steel and aluminum, for example, has ripple effects across industries—driving up prices on everything from cars to appliances.
A Dangerous Global Shift
The panel warns that escalating tariffs—especially those targeting key allies—could fracture global alliances and spark broader trade wars. As Philip explains, this mirrors the economic isolationism of the 1930s, when the Smoot-Hawley Act worsened the Great Depression. Tariff retaliation, already visible today, can lead to inflation, supply chain disruptions, and potential economic stagnation.
Meanwhile, Philip notes that adversarial powers like Russia, Iran, and North Korea are aligning more closely, while Western alliances risk destabilization. Launching trade battles with allies could weaken U.S. global standing at a critical time.
What It Means for the Dollar—and You
Brad highlights another overlooked consequence: tariffs reduce the circulation of U.S. dollars globally. That’s a problem because the dollar’s status as the world’s reserve currency depends on its widespread use in global trade. With fewer dollars in circulation, other nations may begin seeking alternatives—potentially threatening long-term dollar dominance.
As costs rise, savings shrink, and trust in financial institutions erodes, consumers are left asking: how can I protect my money?
How to Protect Yourself: Diversification and Gold
Patrick explains that many Americans are turning to tangible, trustworthy assets like physical gold to hedge against inflation, market instability, and political uncertainty. While financial diversification—including stocks, bonds, and cash reserves—remains important, traditional portfolios may no longer offer sufficient protection in today’s volatile environment.
Gold, long regarded as a safe-haven asset, is increasingly seen as a stabilizing force. It can be held independent of banks, governments, and digital systems, making it especially attractive when other assets seem increasingly exposed.
Trust Matters More Than Ever
Beyond strategy, the panel emphasizes one missing ingredient in today’s economy: trust. Whether in politics, banking, or financial planning, trust is fragile—and essential. Philip shares why he joined U.S. Money Reserve: to build a company that prioritizes education, transparency, and client trust above all else.
Final Thoughts
As tariffs continue to reshape the global economy, Americans must prepare for uncertainty. Whether it's inflation, trade wars, or economic instability, now is the time to revisit your financial strategy.
Want to learn more about how physical gold can help you diversify and protect your wealth? Talk to one of our knowledgeable Account Executives at U.S. Money Reserve today.
