Make Me Smart

Move over taco Tuesday! Tariff Tuesday is here

Apr 8, 2025

Martha Gimbel, Executive Director of the Budget Lab at Yale, dives into the complex world of tariffs and their potential effect on consumer prices, including tech gadgets like iPhones. She explains how tariffs can shape the economic landscape and challenges the notion that trade deficits are inherently bad. The discussion also lightly touches on the joy of children learning to speak, coupled with insights from Carrie Lane, author of a book on professional organizing, who discusses the importance of embracing our clutter.

23:06

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Episode guests

Martha Gimbel

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Episode notes

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Quick takeaways

The unpredictable nature of tariffs disrupts market stability, forcing businesses to adopt defensive strategies rather than pursuing growth opportunities.

High tariffs impact different products variably, complicating consumer choices and highlighting the need for awareness about product origins and pricing.

Deep dives

Tariff Uncertainty and Economic Impact

The ongoing tariff situation has created significant uncertainty that affects business decisions across various sectors. Companies rely on stability to plan for investments and sourcing, but the ever-changing nature of tariffs causes a chaotic environment where expectations fluctuate dramatically. For instance, the announcement of high tariffs on imports from China has raised the potential rate to over 100%, leading businesses to hesitate in making commitments about sourcing and production. This unpredictability not only disrupts markets but also fosters a climate of economic instability, prompting businesses to make defensive rather than growth-oriented choices.

Intro

2min

Tariff Turmoil: Navigating Trade Uncertainty

6min

Tariffs and Technology: The iPhone Dilemma

9min

Challenging Conventional Wisdom on Tariffs

2min

Finding Joy in Clutter and the Role of Organizers

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: