

Trump's Tariffs: Chaos, Confusion & Consequences
107 snips Apr 14, 2025
Kara Swisher welcomes Raj Bhala, a trade law expert, Catherine Rampell, an economics columnist, and Bill Cohan, a former banker and financial journalist. They dive deep into the chaos surrounding Trump's tariffs, discussing how these policies have confused markets and strained international relations. The experts analyze China's retaliatory measures and the concept of a tripolar world. They also critique the administration's economic strategies, emphasizing the need for a more diplomatic approach to trade negotiations.
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Misuse of IEPA
- Trump's declaration of a national emergency over trade deficits is legally dubious.
- Experts argue that it's a misapplication of the International Emergency Economic Powers Act (IEPA).
Flawed Tariff Formula
- The Trump administration’s “reciprocal” tariffs are based on a flawed formula.
- The formula aims to zero out trade deficits, an illogical objective.
Billionaire Losses
- The world's ten richest people reportedly lost $172 billion combined due to Trump's tariffs.
- Bill Ackman warns of an “economic nuclear winter,” highlighting the severity of the situation.