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Move over taco Tuesday! Tariff Tuesday is here

Apr 8, 2025

Martha Gimbel, the Executive Director of the Budget Lab at Yale, provides keen insights on the current tariff landscape and its potential effects on everything from avocados to smartphones. She explains how rising tariffs, especially those targeting China, could impact consumer prices and the long-term implications of Trump's trade agenda on the American economy. She also discusses the misconceptions around trade deficits, illuminating their complexities. The conversation shifts gears to the joy of kids learning to talk, offering a delightful moment in an otherwise heavy discussion.

23:06

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Martha Gimbel

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Quick takeaways

The current tariff landscape creates significant uncertainty for consumers and businesses, leading to potential price hikes on everyday products like groceries and electronics.

The Trump administration's approach to tariffs, particularly around trade deficits, may misinterpret international trade dynamics, inadvertently fostering stronger alliances between other nations.

Deep dives

Overview of Current Tariff Landscape

The current tariff landscape is marked by significant instability and confusion, primarily driven by the unpredictable nature of the Trump administration's tariff announcements. Recently, tariffs on imports from China have surged to as high as 54 percent, with potential for them to exceed 100 percent due to retaliatory measures by China. Additionally, there are notable tariffs on imports from Canada and Mexico, including 25 percent on non-compliant imports under the USMCA and on automobiles, steel, and aluminum. This chaotic environment creates uncertainty for businesses, making it difficult for them to make informed decisions regarding investments and sourcing, which can destabilize the economic landscape.

Intro

2min

Navigating Tariff Turbulence

6min

Tariffs and Consumer Choices

9min

Exploring Economic Irrationality and Audience Engagement

2min

Redefining Organization: From Judgement to Support

4min

You may be wondering whether the prices of your go-to products, from avocados to smartphones, will be raised by tariffs in the coming weeks. We hear you! On the show today, Martha Gimbel, executive director of the Budget Lab at Yale, gives us a broad view of the tariff landscape, how the prices of certain consumer goods could change, and how Trump’s trade agenda could impact the American economy in the long run. Plus, why a trade deficit isn’t necessarily a bad thing.

Then, we’ll smile about the joy of listening to kids learn to talk. And, Carrie Lane, author of “More Than Pretty Boxes: How the Rise of Professional Organizing Shows Us the Way We Work Isn’t Working,” answers the Make Me Smart question.

Here’s everything we talked about today: