The Decibel How Trump is waging war through tariffs
Feb 14, 2025
Mark Rendell, an Economics reporter for The Globe and Mail, dives into how President Trump's tariff policies reflect a zero-sum trade philosophy. He discusses the economic nationalist viewpoint, emphasizing tariffs as a strategic response to China’s influence. Rendell also examines the broader implications of these policies on U.S. manufacturing and trade deficits. The conversation highlights the historical shift towards protectionism and Canada's potential role in the evolving trade landscape.
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Trump's Mercantilist View
- Trump's trade vision is mercantilist, viewing trade as a zero-sum game.
- He aims for balanced trade or a U.S. surplus, believing deficits mean other countries are winning.
Economic Nationalism
- Trump's economic nationalism aims to reverse globalization's perceived negative impacts on U.S. manufacturing.
- He believes trade liberalization led to job losses to China and Mexico.
Tariffs as a Multi-Tool
- Trump views tariffs as a multi-tool to achieve various economic goals.
- He believes tariffs can shrink the trade deficit, reshore jobs, and fund tax cuts.