The Briefing Room
What's Trump's tariff hokey cokey all about?
Apr 10, 2025
In this discussion, Mehreen Khan, the Economics editor of The Times, and Meredith Crowley, a Professor of Economics at the University of Cambridge, tackle the complexities of Donald Trump's recent tariffs. They explore the historical context of tariffs, comparing Trump's approach to past strategies like McKinley's. The duo delves into the intricacies of the World Trade Organization's role and the evolving nature of U.S. trade policies, including the implications for domestic manufacturing and global markets.
28:47
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- The podcast explores the historical context of tariffs, highlighting their dual role in protecting industries and generating revenue, while also noting their political unpopularity linked to economic downturns.
- It discusses the Trump administration's aggressive tariff strategies aimed at reducing the trade deficit, emphasizing the complexities and criticisms surrounding their impact on domestic manufacturing and currency valuation.
Deep dives
The Historical Context of Tariffs in U.S. Economy
The discussion delves into the historical significance of tariffs in the U.S. economy, particularly focusing on William McKinley’s tariff policies. McKinley's approach not only aimed to protect domestic industries but was also intertwined with generating federal revenue during a booming industrial era. Despite the intention for tariffs to foster economic growth, they proved politically unpopular, leading to the Republicans' loss in the 1890 elections and a subsequent economic downturn. The analysis suggests that while tariffs were part of the economic strategy, other factors, such as immigration and capital investments, played crucial roles in the period's overall economic expansion.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
