Trump’s Tariffs, Trumponomics vs. Bidenomics, & More w/ Doug Henwood

On this edition of Parallax Views, the Left Business Observer's Doug Henwood, host of the influential radio program Behind the News, returns to the program to discuss Trump's tariffs, Bidenomics vs. Trumponomics, the legacy of the anti-WTO/anti-globalization protests of the late 1990s, and much more!

Literally a half hour before Doug and I began recording Trump announced a 90-day pause on some of his tariffs. We'll be discussing what Doug sees as Trump's nostalgia about a romanticized 1950s America and how he believes that is driving Trump's policies in many ways. Doug talks about what he sees as the nonsensical nature of Trump's tariffs and how stocks shot up immediately after Trump announced the 90-day pause. Although sometimes there's more noise than signal when looking at the stock market, in this case the response of the stock market over the past week has reflected very real economic anxieties. He also notes that the bond market has been reacting strangely in the past week in a way that is worrying. Doug notes that we'll likely see prices increase in May and June and discusses the effect these tariffs will have on those at the bottom of the income distribution. All of this will factor into Doug's analysis of why he thinks Trump has announced a 90-day pause on some tariffs.

We'll also discuss in-depth the pros and cons of Bidenomics and then look at that in comparison to Trumponomics. We'll discuss industrial policy, ways of bringing back manufacturing to the U.S. in a productive rather than destructive manner, and we'll look at the effect of tariffs on poorer countries like Vietnam or Cambodia.

We'll also discuss how there's been a wide backlash against Trump's tariffs from across the political spectrum including libertarians like Thomas Sowell, CNBC's Jim Cramer, and even some protectionists. Doug Henwood sums up the backlash as being driven ultimately by the crudeness of the tariff policy.

The conversation will also delve into Trump's romanticism about the 19th century U.S. economy, the legacy of the anti-WTO/anti-globalization protests of the late 90s, the potential of a pro-trade internationalism that isn't neoliberal and is informed by socialist or left-wing concerns, the CHIPS and Science Act of 2022, the Biden team's failure to tout the positive aspects of Bidenomics, Trump's anti-libertarian streak, DOGE, the misanthropy of the Silicon Valley right-wing, comparing and contrasting the Ralph Nader and Donald Trump views on foreign trade, and much, much more!