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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insights INSIGHT
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).
insights INSIGHT
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.
question_answer ANECDOTE
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.
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This book provides a detailed examination of the U.S.-China trade war, covering its causes, conduct, and consequences. It explores tariff and non-tariff measures, as well as future challenges, offering insights from both American and Chinese perspectives. The book is structured into three parts, making it a valuable resource for scholars, policymakers, and business leaders.
Power Failure
The Rise and Fall of an American Icon
William D. Cohan
In 'Power Failure,' William D. Cohan provides a detailed history of General Electric's 130-year journey, from its founding to its current state. The book delves into GE's innovations, exponential growth through acquisitions and mergers, and its pioneering doctrine of shareholder value. Cohan also examines the leadership of iconic CEO Jack Welch and the vulnerabilities that were hidden beneath GE's successful facade. The narrative is enriched by rare interviews with key figures, including Jack Welch, and offers a cautionary tale about the hubris and avoidable mistakes that can afflict even the most iconic corporations.
President Trump's chaotic rollout and partial rollback of tariffs has roiled financial markets and confused many allies, both domestically and internationally. Although he temporarily calmed bond markets by announcing a 90-day pause on his misleadingly labeled "reciprocal tariffs," the uncertainty he created continues. Meanwhile, China has responded to the 145% tariffs on their imported goods by imposing retaliatory tariffs on American products and halting exports of rare earth minerals.
To help us makes sense of the mess, Kara talks to three experts:
Catherine Rampell is a nationally syndicated columnist at The Washington Post who specializes in economics, politics, and public policy. She’s a special correspondent for PBS Newshour and she will soon anchor and co-host of MSNBC’s The Weekend.
This episode was recorded on Wednesday April 9th.
Questions? Comments? Email us at on@voxmedia.com or find us on Instagram, TikTok, and Bluesky @onwithkaraswisher.
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