Money Talks from The Economist
Import-extort: what to make of Donald Trump’s titanic tariffs
Apr 3, 2025
Simon Rabinovitch, the US economics editor at The Economist, joins Douglas Irwin, a Dartmouth College economics professor, to unravel the impact of Trump's sweeping tariffs on trade policy. They discuss the unprecedented rise in tariffs and ponder their long-term economic effects. Historical insights reveal the evolution of U.S. tariffs and how today's policies diverge from past bipartisan efforts. With global manufacturing and labor at risk, the conversation touches on the broader implications for industries and consumers alike.
46:35
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Trump's tariffs mark a drastic shift in American trade policy, raising concerns about economic stagnation and inflation for consumers.
- The uncertain tariff landscape complicates future negotiations with trading partners, hindering effective dialogue and collaboration on trade issues.
Deep dives
Announcing Major Tariffs
A significant shift in U.S. trade policy was announced, with immense tariffs set to be implemented, marking the highest levels in over a century. President Trump highlighted the negative impact of imports on American industry, labeling chronic trade deficits as a national emergency. The announced tariffs include a baseline of 10% on all imports, escalating to a potential effective overall tariff rate of approximately 25%. The announcement suggests a reciprocal approach, where America would charge lower tariffs in response to higher tariffs imposed on U.S. goods by other countries, yet specifics lacked empirical backing.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
