The Indicator from Planet Money Who's advising Trump on trade?
25 snips
Apr 24, 2025 Dive into the chaos of trade policy as President Trump grapples with tariff decisions amidst conflicting advice from top advisors. Explore the clash between manufacturing advocates and those cautious of a strong dollar. Discover how tariffs are framed as not just economic tools but also as strategies for national security. The podcast tackles the dollar dilemma, weighing its influence on exports and domestic production. All while revealing the intense debates shaping U.S. trade under Trump's leadership.
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Two Schools Advising Trump on Trade
- Trump's trade advisors fall into two main groups: Make America (national security-focused) and Weak Dollar (currency policy-focused).
- These schools shape his tariff and trade deal strategies, with distinct long-term visions for U.S. manufacturing and dollar valuation.
National Security Drives Tariffs
- Scott Bessent and Peter Navarro promote tariffs to protect U.S. manufacturing critical for national security.
- Tariffs may persist long term on crucial sectors like steel, semiconductors, and rare earth minerals.
Weak Dollar School's Global Plan
- The "weak dollar" school argues the strong U.S. dollar disadvantages exporters by making imports cheaper.
- The Mar-a Accord envisions global cooperation to devalue the dollar and correct trade imbalances benefiting America.