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The Economics Show
What would Trump do on trade? With Alan Beattie
Sep 23, 2024
Alan Beattie, a senior trade writer at the Financial Times, delves into Donald Trump's stark trade promises for his potential second term. The conversation reveals the possible impacts of higher tariffs on China and other nations, discussing economic fallout and consumer price dynamics. They also address the role of the World Trade Organization and skepticism about U.S. collaboration with it. Finally, the implications of government spending and trade policies on future deals reflect a complex landscape for international relations.
30:53
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Quick takeaways
- Trump's proposed high tariffs, particularly on China, risk prompting trade wars that could adversely affect domestic industries and consumers.
- Negotiations following tariff imposition may yield superficial agreements, highlighting the complexities of Trump's understanding of international trade relations.
Deep dives
BP's Transition to Lower Carbon Energy
BP is significantly increasing its investment in lower carbon energy solutions in the UK, including the design of two hydrogen plants. This shift represents a larger trend within the company, which saw its investments in lower carbon and transition businesses grow from approximately 3% in 2019 to around 23% in 2023. This dual approach allows BP to continue its oil and gas operations while simultaneously addressing the urgent need for more sustainable energy sources. The strategy reflects the company's commitment to balancing traditional energy production with innovative, cleaner energy technologies.
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