Make Me Smart Trump’s tariff test. Will it work?
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Apr 2, 2025 The discussion dives into the complexities of tariffs announced by Trump, highlighting their mixed results and the economic uncertainty they bring to the Fed's interest rate decisions. Listeners learn about the hidden costs to farmers and the overall impact on various industries. A humorous twist comes with an April Fools' prank related to Home Depot. The podcast also celebrates a historic Senate speech, marking a significant step in civil rights and voting discussions, adding depth to the political landscape.
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Conflicting Tariff Goals
- The Trump administration's tariff justifications are conflicting and unrealistic.
- They want more revenue, domestic production, bargaining leverage, and a reduced trade deficit, which are mutually exclusive.
White House Tariff Claims
- Kimberly Adams analyzed a White House press release claiming tariffs work.
- She found their cited data, including a 2023 International Trade Commission report, doesn't support their claims.
Hidden Tariff Costs
- The previous tariffs necessitated billions in aid for farmers due to retaliatory tariffs from China.
- This substantial expense wasn't widely publicized amidst other events.