The Opinions Trump Is Failing the Marshmallow Test. Again.
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Feb 6, 2025 Binyamin Appelbaum, a New York Times Opinion writer with a focus on economics, joins Patrick Healy for a deep dive into Trump’s economic policies. They dissect Trump’s aggressive tariffs, particularly against China, revealing how these strategies impact American consumers. The conversation highlights the precarious balance between immediate trade gains and the risk of undermining long-term international relationships, particularly with Canada and Mexico. Appelbaum also critiques the chaotic nature of Trump's decision-making, emphasizing the dangers of short-term political tactics.
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Tariffs as Taxes
- Tariffs act as taxes, increasing prices for consumers.
- This isn't limited to Chinese goods; other retailers raise prices to compete, causing broad price increases.
Trump's Trade Ideology
- Trump ideologically opposes trade with China, believing it harms the U.S.
- He uses tariffs to discourage this trade, viewing them as leverage in negotiations.
Trump's Mercantilist View
- Trump's worldview aligns with mercantilism, prioritizing exports over imports.
- He sees international economics as a zero-sum game, where one nation's gain is another's loss.