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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Quick takeaways
- Trump perceives tariffs as a solution to rebalancing trade and stimulating domestic manufacturing amid rising globalization concerns.
- The use of tariffs intertwines economic policy with diplomatic strategies, threatening adversaries to achieve compliance on broader issues.
Deep dives
Trump's Mercantilist Trade Perspective
Donald Trump and his administration approach trade from a mercantilist viewpoint, perceiving it as a zero-sum game where there are clear winners and losers. Trump believes that a trade deficit indicates failure, positioning the United States as a 'loser' in global economics, while other countries, particularly China, benefit. This ideology stems from a desire to rebalance trade, seeking a trade surplus for the U.S. and implementing tariffs as a tool to achieve this goal. Such economic nationalism reflects a bipartisan sentiment in the U.S., where there is growing apprehension about the effects of globalization on domestic manufacturing jobs and industries.
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