The Ben Shapiro Show Ep. 2176 - MOTHER OF ALL TARIFFS: The Tariff War Has Begun
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Apr 9, 2025 The podcast dives into the immediate impact of Trump's newly implemented tariffs on U.S. stock markets, highlighting significant declines. It examines the international trade landscape, the dynamic negotiations with countries like Japan and Vietnam, and the growing trade tensions with China. The discussion also addresses how these tariffs are reshaping U.S. economic policies and influencing political debates leading up to the midterms. Critical perspectives on transparency in trade commentary and the need for cooperative negotiation strategies are emphasized throughout.
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Market Reactions to Tariffs
- Tariffs cause price adjustments quickly due to anticipation of their impact.
- Markets aggregate knowledge; their initial reaction is a vote, later a weighing of actual effects.
Conflicting Trade War Rationales
- The two main reasons for the trade war are achieving reciprocity or protectionism.
- These goals are very different, and Trump's messaging has been unclear on which he wants.
Market Volatility and Mnuchin's Optimism
- Markets initially rallied on hopes of a tariff postponement, then fell when it didn't happen.
- Treasury Secretary Mnuchin suggested deals were imminent, causing optimism.