Tariffs are back in the headlines, and "The Ramsey Show" co-host Ken Coleman isn't having it. In a recent episode, a caller's financial dilemma turned into a fiery discussion on trade wars, economic policy, and why tariffs hit everyday workers harder than politicians like to admit.
The caller, Isaiah from Grand Rapids, Michigan, had been steadily working his way out of debt—following Dave Ramsey's famous Baby Steps—when news of Mexico's retaliation tariffs threw a wrench into his financial plans. His employer, a medical supply company, had already moved production from China to Mexico, and now, with new tariffs in play, they were staring down "significant, significant losses." While leadership hadn't announced layoffs yet, the writing was on the wall.
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Isaiah and his wife were on their seventh or eighth week of Financial Peace University and had been making steady progress. They had $51,000 left in debt—a mix of student loans, medical debt, and an old refinance mistake—and were earning $120,000 a year. Their goal? Knock out the remaining balance in two to three years. But with potential job insecurity, Isaiah wasn't sure if they should keep throwing extra cash at debt or pause and build up savings as a safety net.
That's when Coleman jumped in, first digging into the details of the company's situation. Isaiah confirmed that roughly 17% to 18% of their business was affected by imports from Mexico. The problem? The company had fixed contracts in the medical industry—meaning they couldn't simply raise prices to offset the tariff costs. Instead, their profit margins were shrinking, which could lead to budget cuts, layoffs, or worse.
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Coleman, a longtime free-trade advocate, didn't hold back:
"That's why guys like me, free traders, I don't like tariffs. Never going to like tariffs. So don't @ me or send me hate email, I'm not going to read it. And I'm right. So we'll just leave it at that. Tariffs become taxes. It's just that simple."
His frustration was clear—this wasn't just political theory; it was real-life economics hitting a caller's paycheck. And Coleman wasn't done. He pointed out that tariffs create a domino effect: businesses struggle, prices go up, wages stagnate, and in some cases, people lose their jobs.
But what about Isaiah's original question? Should he pause his debt payoff plan?
Co-host George Kamel stepped in with a measured response:
- No, don't pause just yet. There wasn't enough concrete evidence that layoffs were imminent.
- Yes, stay alert. Keep an eye on company updates, and if job cuts start looking inevitable, then it might be time to hit pause and stack up cash.
- Consider a backup plan. Isaiah's skills were in demand, so it might be smart to start looking for other job opportunities in case things went south.
That's when the conversation took a broader turn into headlines vs. guidelines.
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Coleman warned against reacting emotionally to news cycles, pointing out that media headlines thrive on fear—whether it's a 900-point stock market drop, trade war speculation, or recession predictions. Instead, he urged listeners to focus on guidelines—financial principles that keep people secure no matter what's happening in the economy. He added, "The stuff that we teach makes you recession-proof."
The segment wrapped with a blunt reality check: if the government is going to impose tariffs, they need to also deregulate and cut business taxes so companies can afford to produce goods domestically. Otherwise, the result is exactly what Isaiah was experiencing—businesses caught in the crossfire, scrambling to cover costs, and employees left wondering if they'll have a job tomorrow.
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