The Socialist Program with Brian Becker
Trade War Will Be a ‘Colossal Blunder’ For U.S. w/ Prof. Richard Wolff
Apr 16, 2025
Richard Wolff, an influential author and co-founder of Democracy at Work, joins to dissect Trump's escalating trade war with China. They explore how the chaotic tariff policies may be backfiring and leading to the U.S.'s political isolation. Wolff addresses the shifting power dynamics in global trade and the fallout for American universities under political pressure. He critiques the illusion of tariffs as a solution for the working class, exposing the deeper issues within capitalism that remain unaddressed.
30:38
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Quick takeaways
- Trump's trade war is backfiring as China's strengthened alliances reveal its resilience against U.S. economic pressure and tariffs.
- The reliance on tariffs fails to address the deeper structural issues in American manufacturing, necessitating systemic reform for worker benefits.
Deep dives
Escalating Trade Tensions with China
The current trade conflict between the U.S. and China has escalated significantly, characterized by aggressive tariffs and political maneuvering. Donald Trump's imposition of high tariffs on Chinese imports reflects a confrontational stance, which has raised concerns about the potential for economic repercussions on both nations. Despite the U.S. believing it holds negotiating power, China’s strengthened trade alliances and economic strategies indicate it is not easily coerced and may retaliate in various ways. For instance, China's recent decision to halt orders from U.S. companies, such as Boeing, exemplifies its willingness to push back against U.S. demands.
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