The Indicator from Planet Money How Trump's tariffs plan might work
53 snips
Dec 2, 2024 
Kyla Scanlon, an economic commentator and author of *In This Economy*, shares her insights on President-elect Trump’s ambitious tariff plans. She explores how these tariffs could reshape the economy and whether they will genuinely lower the U.S. trade deficit or just lead to higher prices for everyday goods. The conversation dives into the impact on consumer costs, particularly for popular items like chocolate chip cookies, and raises concerns about the potential job creation in the tech sector amidst economic skepticism.
AI Snips
Chapters
Transcript
Episode notes
Global Cookies
- Kyla Scanlon uses chocolate chip cookies as an example to explain trade.
- Many cookie ingredients, like cocoa and vanilla, are imported.
Tariffs as Taxes
- Tariffs are taxes on imported goods.
- Economists generally agree that consumers pay more when tariffs are implemented.
Trump's Tariff Claims
- Trump claims other countries will absorb tariff costs to remain competitive.
- He suggests some companies might move to the U.S. to avoid tariffs, creating jobs.