The Brian Lehrer Show Tariff Chaos
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Apr 4, 2025 Catherine Ann Edwards, an economist and economic policy consultant, breaks down the chaos following President Trump's new tariffs. She analyzes the predicted $2.4 trillion loss in S&P 500 stocks and how these tariffs will squeeze consumers. Edwards highlights the struggles faced by small businesses amid rising costs and unpredictable rates. Delving deeper, she discusses the impact of automation on job losses, and the disconnect between policymakers and those directly affected. Listeners are encouraged to advocate for their financial security.
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Tariffs 101
- Tariffs are essentially import taxes paid by importing companies.
- They also apply to goods used in U.S. production, affecting the entire supply chain.
Unintended Consequences
- Tariffs' unpredictable consequences make them problematic.
- Their impact ripples widely, affecting various sectors unpredictably.
Recessionary Policies
- Trump's policies, including tariffs, reduced federal workforce, and deportations, contract the economy.
- Combined, these contractionary policies may trigger a recession.