Donald Trump's second term has been a breakneck whirlwind: tariffs announced, tariffs unannounced, tariffs reannounced, allies threatened, and global coalitions ripped apart. What sort of a world are Trump and the White House trying to build?

If you stand back from the brush strokes, and take in the full mural, it is possible to see something like a grand economic strategy. One way his chief economic advisers have put it is that we’re using America’s power in the 2020s as leverage to rebalance the global economy in a way that helps U.S. companies grow faster.

There are several questions to ask about this stated economic strategy. One is whether or not it’s working. When tariffs designed to buoy the auto manufacturing economy lead instead to hundreds of layoffs among steelworkers getting walloped by trade wars—as they did this past week—it's hard to be confident that Trump's gambit is paying off.

A very different question to ask is whether Trump’s economic strategy is _economic—_or, strictly speaking, strategic—at all. Much of our geopolitical agenda today seems to be a simple extrapolation of Donald Trump’s personality. His proclivity for audacious promises. His tactic of using leverage to squeeze counterparties. His preference for mano a mano deal-making over coalitional bargains.

Today’s guests are Rogé Karma, a staff writer for The Atlantic, and Jason Furman, an economist at Harvard. We talk about the new world order Trump seems to be accelerating us toward. But we also talk about Trump himself, an unusual leader whose governance style often seems to have more to do with personal leverage than with policy. By evaluating the White House along both of these fronts, perhaps we can begin to see around the corner and understand what kind of a world, and what kind of a global economy, Donald Trump is pulling into view.

If you have questions, observations, or ideas for future episodes, email us at PlainEnglish@Spotify.com.

Host: Derek Thompson

Guest: Rogé Karma and Jason Furman

Producer: Devon Baroldi

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Episode 2373 CWSA 02/03/24

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