Jacobin Radio Confronting Capitalism: Who Benefits From Trump’s Tariffs?
15 snips
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.
AI Snips
Chapters
Transcript
Episode notes
How Tariffs Work
- Tariffs raise import prices, squeezing importer profits, who then pass the increase to consumers if possible.
- This can lead to inflation if tariffs are widely implemented.
Historical Uses of Tariffs
- Historically, countries used tariffs for revenue and to protect domestic industries, especially during industrialization.
- This protection allowed nascent industries to grow without being immediately outcompeted by more established foreign firms.
US Tariff History
- The US historically used high tariffs (30-40%), exceeding European levels (12-18%), to protect its growing industries.
- This protectionist stance fueled its industrial growth throughout the 19th and early 20th centuries.