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The Bunker
Trump's tariffs explained: How to understand his looming trade wars
Jan 28, 2025
Dmitry Grozoubinski, Director of Explain Trade and author of Why Politicians Lie About Trade, provides insight into Trump's controversial tariffs. He discusses their historical roots and how they’ve resurfaced as a political tool. Grozoubinski highlights the precarious impact on lower-income consumers and essential goods. The conversation also explores the manipulation of public sentiment around tariffs and their role as negotiation strategies in international trade. Expect an eye-opening look at the complexity behind economic decisions in the political arena.
35:14
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Quick takeaways
- Trump's proposed tariffs could lead to significant price increases on essential goods, disproportionately affecting lower-income consumers and the overall economy.
- The use of tariffs by Trump serves as a geopolitical strategy, prompting retaliatory measures from other countries and complicating international relations.
Deep dives
The Rise of Tariffs in Trade Policy
Tariffs, essentially taxes on imported goods, have resurfaced as a focal point in trade policy discussions. Historically, governments favored tariffs for their simplicity in collection and potential revenue generation, particularly during the 19th century when they taxed luxury goods. However, modern economists criticize tariffs for their inefficiencies and regressive nature, arguing that they disproportionately burden lower-income consumers by increasing the price of essential products like food and household items. The ongoing debates highlight a shift in political attitudes towards tariffs, with leaders like Donald Trump advocating for their use to protect domestic industries and fund government initiatives.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode