Big Take
What We Know About Trump’s Planned Tariffs
Mar 31, 2025
In this discussion, Sean Donnan, an economic policy reporter at Bloomberg, sheds light on President Trump's planned tariffs, dubbed Liberation Day. He draws parallels with historical tariffs, notably the Smoot-Hawley Act, and analyzes potential global trade repercussions. The conversation delves into expected economic impacts on GDP and inflation, emphasizing the risk of stagflation. Donnan's insights reveal how these tariffs could reshape American protectionist strategies and their consequences for international trade dynamics.
18:10
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Quick takeaways
- Trump's proposed tariffs signal a drastic shift towards protectionist policies, reminiscent of historical measures like the Smoot-Hawley Tariff of 1930.
- The potential economic consequences of these tariffs could lead to a significant decrease in U.S. GDP and increased consumer prices, risking stagflation.
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