The New Liberal Podcast
The Tragedy of Tariffs
Apr 9, 2025
The podcast dives into Trump's tariffs, questioning their impact on the American economy and the lives of everyday families. A clear consensus among economists paints tariffs as harmful to consumers and growth, challenging the myth that they can restore manufacturing. The conversation also highlights the backlash against women's workplace roles and how tariffs intersect with issues of masculinity and political dissent. As uncertainty looms, the need for rational decision-making in trade policies becomes ever more critical.
53:00
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Quick takeaways
- Trump's tariffs, escalating from 2-3% to 35%, threaten to push the U.S. economy toward recession and inflate consumer prices.
- The backlash against tariffs is creating divisions within the Republican Party as business leaders express concerns over economic repercussions.
Deep dives
Impact of Trump's Tariffs on the Economy
The announcement of massive new tariffs on imports has significant implications for the U.S. economy, with many fearing it could lead the nation into a recession. Experts across the political spectrum concur that tariffs generally reduce economic welfare, a sentiment echoed by a survey showing that 95% of economists believe tariffs are detrimental. The escalation of tariffs from an average rate of 2-3% to 35% marks unprecedented action in U.S. history, potentially larger than the Smoot-Hawley tariffs, which are often blamed for exacerbating the Great Depression. This drastic increase raises concerns about inflation and makes goods more expensive for consumers, leading to fears of a steep decline in economic growth.
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