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Jacobin Radio
Confronting Capitalism: Who Benefits From Trump’s Tariffs?
Feb 12, 2025
Vivek Chibber, a Professor at NYU and editor of Catalyst, dives into the complexities of Trump’s tariffs on Mexico, Canada, and China. He critically examines how these tariffs, touted as support for American workers, differ from historical protectionist policies. Chibber argues that, unlike past practices that bolstered domestic industries, today's tariffs are politically motivated and unlikely to help workers. The conversation highlights the economic implications of these measures, suggesting they protect capital while burdening consumers.
43:28
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Quick takeaways
- Trump's tariffs, unlike historical protectionist policies, do not effectively benefit American workers and may instead raise consumer prices.
- The shift from tariffs to free trade in the U.S. has rendered current tariffs insufficient without strategic government interventions to stimulate manufacturing.
Deep dives
Understanding Tariffs and Their Implications
Tariffs serve as a mechanism for raising the price of imports by imposing taxes on goods entering a country. Importers are directly impacted by these tariffs, as they face higher costs when bringing products into the market. Often, these increased costs are passed on to consumers, resulting in higher prices for goods. The complexity of this system highlights that while tariffs can generate government revenue and impact consumer prices, it is essential to understand who bears the burden of these costs.
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