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Trump’s Tariff War Explained
Feb 12, 2025
Brad Setser, a senior fellow at the Council on Foreign Relations and trade expert, breaks down Trump’s sweeping tariffs and their historical impact on U.S. trade policy. He highlights how the tariffs aim to tackle border security but may worsen the illegal drug trade. Setser explains the complexities of trade relations with China, Mexico, and Canada, and the adverse effects on American manufacturing and jobs. The conversation reveals the challenges of using tariffs as a foreign policy tool and questions their overall effectiveness in restoring U.S. industries.
31:28
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Quick takeaways
- Trump's tariffs aim to boost domestic production while potentially exacerbating illegal drug trafficking and consumer prices.
- The historical context of U.S. tariffs reflects a shift from low tariffs for free trade to protective measures addressing trade imbalances, particularly with China.
Deep dives
Trump's Tariff Strategy and Economic Impact
Donald Trump has adopted a strong tariff-centric approach to American trade, aiming to bolster domestic production and mitigate perceived economic threats from imports, particularly from China. By implementing tariffs on imported goods, Trump believes that American-made products will become more competitive, encouraging companies to establish factories within the U.S. This strategy reflects a significant shift from the past fifty years of generally low tariffs, which were intended to promote free trade and economic interdependence. However, the application of tariffs as an economic tool can lead to higher prices for consumers and has raised questions regarding their effectiveness in truly revitalizing American manufacturing.
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