Big Take What We Know About Trump’s Planned Tariffs
24 snips
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.
AI Snips
Chapters
Transcript
Episode notes
Historic Protectionism
- President Trump's planned tariffs represent a significant act of American protectionism.
- These tariffs could potentially exceed the scale of the 1930 Smoot-Hawley tariffs.
Smoot-Hawley Tariff Act
- The 1930 Smoot-Hawley Tariff Act, aimed at protecting American producers, led to international reprisals.
- This occurred before the Great Depression, and while today's context differs, the scale of Trump's tariffs could be larger.
Reciprocal Tariffs
- Trump uses the term "reciprocal tariffs" to address perceived barriers to US exports.
- It reflects the administration's effort to quantify barriers like taxes, regulations, and currency movements into a single tariff number.