Freddy Gray, Deputy Editor of The Spectator, shares insights on Trump's tariffs, discussing their chaotic implications and potential strategic motives. Financial journalist Michael Lynn adds depth by explaining the logic behind these economic maneuvers. Iram Ramzan shares her personal journey through cousin marriage, while Professor Dominic Wilkinson raises ethical concerns about its genetic risks. The conversation also touches on the surprising rise of theft in restaurants, exploring cultural perceptions around stealing.
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insights INSIGHT
Orange Swan Event
Trump's tariffs represent an "orange swan event": a predictable yet shocking disruption.
This deliberate shock to the global financial system, driven by Trump's long-held beliefs, has created a new world order.
insights INSIGHT
Tariff Logic
Trump's tariffs aim to re-industrialize America, decouple from China, and reward his blue-collar base.
While there's logic, the chaotic implementation and lack of clear communication create market panic.
insights INSIGHT
Political Implications of Tariffs
Trump's base and certain unions support tariffs, enjoying the disruption caused to elites.
This tactic also undercuts the Democrats' anti-oligarchy rhetoric, adding to its political appeal.
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This week: Trump’s tariffs – madness or mastermind?
‘Shock tactics’ is the headline of our cover article this week, as deputy editor Freddy Gray reflects on a week that has seen the US President upend the global economic order, with back and forth announcements on reciprocal and retaliatory tariffs. At the time of writing, a baseline 10% on imports stands – with higher tariffs remaining for China, Mexico and Canada.
The initial announcement last week had led to the biggest global market decline since the start of the pandemic, and left countries scrambling to react, whether through negotiation or retaliation. China announced a second wave of retaliatory tariffs – to 84% – and Trump, while softening his stance towards other countries, appeared to lean in to a trade war with China by announcing a further hike to 125%. As Freddy writes, for Trump and his supporters ‘China is America’s chief enemy.’ ‘President Trump just took a massive punch at Xi, right in the chops,’ said Steve Bannon. ‘The overlords of easy money, the sociopathic overlords that run Wall Street, the globalist corporatists and the apartheid state of Silicon Valley – all of them combined are the partners of the Chinese Communist party.’
But, as Freddy asks in the magazine, is there method in the madness? Freddy joined the podcast to discuss alongside the financial journalist and Spectator contributor Michael Lynn. (1:35)
Next: should cousin marriages be banned?
Cousin marriage has been back in the news since the Conservative MP Richard Holden proposed banning the practice. Much of the debate has focused on the British Pakistani community where marriage between cousins is less taboo than other communities within the UK. But, as Iram Ramzan writes in the magazine this week, marriage between cousins has been legal in the UK stretching back to Henry VIII.
The dictator Saddam Hussein, the musician Jerry Lee Lewis and even the father of evolution Charles Darwin are surprising examples of people who married their first cousins. Iram writes that it was to her horror that her family suggested she marry her second cousin. To what extent is the law the right recourse to deter cousin marriage? And what are the cultural, ethical, as well as genetic, considerations?
Iram joined the podcast alongside Dominic Wilkinson, professor of medical ethics at the University of Oxford. (18:09)
And finally: restaurant thefts are rising – why?
The Spectator’s food columnist Olivia Potts explores how restaurants are facing a rising problem of theft. Gordon Ramsay’s latest restaurant suffered a £2,000 loss in one week for example. from theft. And, as many as 17 million Britons say they have stolen from a pub or restaurant. Why do they do it? And why is restaurant theft a particular problem now? Liv joined us to discuss further, alongside an anonymous contributor who agreed to share their own experience of stealing from restaurants. (29:57)