Post Reports How Trump's new tariffs could tank the economy
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Apr 3, 2025 
David Lynch, a financial writer for The Washington Post and author of the upcoming book "The World's Worst Bet," joins to dissect Trump's sweeping new tariffs. He discusses how these tariffs aim to revive manufacturing but risk burdening American consumers instead. Lynch highlights the potential for short-term pain and long-term gain, while questioning the overall effectiveness of the strategy. The conversation also touches on the tariffs' disproportionate impact on lower-income families and possible bipartisan pushback in Congress.
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New Tariffs Explained
- Trump announced new tariffs on all U.S. imports, calling it "Liberation Day" for American industry.
- These tariffs are essentially a tax on imported goods, impacting consumer goods and manufacturing parts.
Trump's Tariff Goals
- Trump aims to revive domestic manufacturing by discouraging foreign product purchases through tariffs.
- He believes this will create jobs and make America wealthier, reversing the trend of manufacturing jobs moving overseas.
Impact on Manufacturing
- Companies may shift some manufacturing to the U.S., but a complete reversal of offshoring is unprecedented.
- This transformation would take years and lacks the predictability businesses need for long-term investments.