

What to Expect From Trump’s New Trade Drama
581 snips Jul 10, 2025
Join Ben Casselman, Chief Economics Correspondent for The New York Times; Maggie Haberman, White House Correspondent; and Ana Swanson, trade expert, as they dissect the latest threats of aggressive tariffs from President Trump. They delve into how these tariffs might reshape global trade dynamics and the U.S. economy. The guests explore the intricacies of trade negotiations, recession fears, and what Trump's chaotic strategies mean for international relations. Expect insights into the unfolding economic drama and its impact on everyday Americans.
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Trade War Is Active, Not Paused
- The U.S. trade war never truly paused as tariffs steadily rose even during negotiation hiatuses.
- The average effective U.S. tariff rate has hit its highest since 1934, showing real economic impact.
Deadlines Shift for Negotiation Wins
- Trump's shifting tariff deadlines reflect his negotiation style of buying time to present some form of a win.
- Countries don't function well with such unpredictability, leading to delayed or no concessions on trade deals.
Tariffs Haven't Revived Manufacturing
- So far, there is no sign that tariffs have led to increased U.S. manufacturing investment or job growth.
- Manufacturing jobs are actually declining, despite the tariffs' goal to bring production back home.