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The Briefing Room
Why does Trump love tariffs?
Jan 9, 2025
Sam Lowe, a Partner at Flint Global consultancy, and Duncan Weldon, an economist and author, delve into the multifaceted world of tariffs. They explore Trump's fascination with tariffs, questioning their implications for U.S. trade and global relations. The discussion highlights historical perspectives on tariffs, the challenges faced by U.S. companies reliant on imports, and the potential fallout of these policies on consumers. Listeners gain insight into the complexities of trade dynamics and the 'weaponized uncertainty' of our modern economic landscape.
28:23
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Quick takeaways
- Trump views tariffs as a strategic tool to assert leverage in international negotiations and address trade imbalances with countries like China.
- While tariffs may provide short-term job creation and reduced foreign competition, they often lead to long-term economic repercussions like inflation and diminished productivity.
Deep dives
Understanding Tariffs
A tariff is essentially a tax imposed on imported goods, creating a financial burden that ultimately falls on consumers rather than the exporting country. When a government levies a tariff, such as a 20% tax on foreign cars, it raises the price American consumers pay for those vehicles since the tax is added at the point of importation. Historically, tariff policies have fluctuated between protectionism and free trade, with countries like the United States previously benefitting from low tariffs post-World War II. Economists argue that while tariffs aim to protect domestic industry, they often lead to higher prices for consumers and less competition, which can have negative long-term effects on economic growth.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode