Transcript of the above video: 

As the title of this video suggests, we are discussing tariffs. I was going to call it Trump tariffs, but I don't know, I'm not really into click bating around about Trump stuff. I actually think Trump is probably one of the best, probably one of the most knowledgeable Presidents on Tax Policy that we may have had in probably 30 years. I know people are going to giggle at that, but I read a White Paper from Trump's campaign in the first term, at least his people, understood VAT on a more nuanced level than anybody I had ever seen out of the US in all the time I've ever been over here. So I think Trump is more with it than people want to give him credit for. In fact I think his detractors like to call him stupid, notwithstanding that all evidence seems to point to the contrary conclusion. That being said, the point of this video is the Amity Treaty and tariffs 

Now I'm not going to make any conclusions in this video. One, we don't exactly know what these tariffs on "Liberation Day" are going to look like. Let me also be clear, I think for America, this overall policy of "America First" is a good thing for America. I also think Thailand should be constantly maintaining a policy of "Thailand First". Sometimes those things may come in conflict within the American relationship, that's why we have the Treaty of Amity. And the question posed by this video and I think we are going to flesh this out as time goes on over the forthcoming weeks and months, how does the "National Treatment" provisions of the Treaty interact with tariffs. The question I'm asking is if you have got an American Amity Treaty certified company here in Thailand, and they are producing widgets that get "exported" back to America, are they really being “exported” because under the terms of the Treaty, we treat each other's companies with "National Treatment" right? And American companies here in Thailand are treated with "National Treatment" so they are treated as if they are Thai, but they are American; they have been certified as American. And as I have discussed in other videos, most notably regarding “domestic corporations” and how that is defined under the US Code, "created or organized" under US Law, is one of the definitions of a domestic American corporation. Well, the US-Thai Treaty of Amity was promulgated by the Senate, or I should say ratified by the Senate in 1966 over LBJ, then President LBJ's signature. Pursuant to the Constitution specifically the Supremacy Clause, that Treaty becomes "the law of the land" of the United States. So at that moment, any company created or organized under US Law, well American Amity Treaties are clearly organized under US Law because pursuant to the Foreign Business Act here in Thailand, generally speaking you have to set up a 51/49 type of company unless you have certified as American and thereby gained "National Treatment".  But by doing so you utilize the Treaty which is incorporated into US Law pursuant to the Supremacy Clause and as such could be and I think should be considered, I think is frankly pursuant to the clear plain language in the statues, a domestic corporation. So how can a domestic corporation, producing widgets for sale in America be subject to tariffs? It's a valid question. I know it is sort of strange and counterintuitive, but it is sort of the plenary nature of Treaties that they can bend facts. It's sort of like bending the timeline or something in a Sci-Fi sense, okay. 

My only point from this video is how does the Treaty of Amity interact with tariffs because this is one of these treaties that just goes back so far, it was never really thought of when they drafted these laws and they are putting out these new rules, remains to be seen how it will interact, but I think it's going to be interesting to say the least.