Many Happy Returns Has Trump Won the Trade War?
57 snips
Aug 13, 2025 The podcast dives into the results of Trump's tariff policies, questioning if they've truly won the trade war. It explores the complexities of international trade dynamics, especially the impacts on the US, China, and the EU. Discussions on trade agreements reveal the superficial nature of some achievements while examining the financial toll of tariffs on consumers. The talk also uncovers the nuances beyond tariffs, including logistics and digital services, painting a multifaceted picture of today's global trade landscape.
AI Snips
Chapters
Transcript
Episode notes
Tariffs Climbed To A Century High
- The US raised its effective tariff rate from ~2.5% to ~17–19%, likely ending near 20%, the highest in a century.
- Many countries have acquiesced rather than retaliated, letting the US use its economic heft to reshape deals.
Many Partners Made Separate Deals
- Trump has secured asymmetric framework agreements with many partners, covering ~40% of US trade flows but excluding China.
- Countries negotiated separately instead of presenting a united front, weakening collective resistance.
EU Took An Asymmetric Deal
- The EU accepted asymmetric tariffs: ~15% on most EU exports to the US while US goods face little or no tariff.
- The deal reflected internal EU divisions and differing national priorities, notably Germany's urgency.