Coffee House Shots Is Trump the new Truss?
Apr 7, 2025
Kate Andrews, the Economics Editor at the Spectator, dives into the drastic impacts of Donald Trump’s recent tariffs, which may signal the end of free trade and globalization as we know it. She discusses the unsettling market reactions and comparisons to Liz Truss’s mini-budget fiasco. The conversation also touches on Keir Starmer's efforts to shield the UK car industry from Trump's tariffs and highlights fractures within the Republican Party, including dissent from high-profile supporters like Elon Musk.
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Market Turmoil
- Global stock markets are falling, sparking recession fears.
- This turmoil is unique because it's a deliberate attempt to create instability.
Misunderstood Comments
- Stock markets briefly rallied due to a misunderstanding about Trump's economic advisor's comments on tariffs.
- They plummeted again once the misunderstanding was clarified.
Tariff Calculation
- Trump's tariffs were calculated by converting trade deficits into percentages.
- This makes the US one of the most protectionist countries in the West.