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What A Day
Trump's Tariff Showdown
Feb 4, 2025
In this enlightening discussion, Scott Lincicome, Vice President of General Economics and Trade Policy at the Cato Institute, breaks down the complexities of trade wars. He explains the recent hold on tariffs against Canada and Mexico and what that means for international relations. Scott clarifies how tariffs differ from inflation and how they affect consumer prices. He also shares insights on potential future targets for tariffs, focusing on markets like China and Europe, highlighting the delicate balance of trade policy and economic stability.
22:23
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Quick takeaways
- Trump's temporary pause on tariffs highlights a pattern of prioritizing political victories over substantive trade negotiations and genuine outcomes.
- The reliance on tariffs as a primary trade policy tool under Trump's administration represents a significant shift from previous economic strategies and risks raising consumer prices.
Deep dives
Tariff Negotiations and Political Maneuvering
President Trump's decision to pause tariffs on imports from Canada and Mexico has raised questions about the authenticity of this strategy. In discussions with Mexican President Claudia Scheinbaum, an agreement was reached to temporarily set aside the tariffs for a month, with Mexico committing to send additional troops to the border, although they already have a significant military presence there. This pause appears more as a political victory for Trump rather than a genuine negotiation outcome, as similar commitments had already been made by Canada in prior plans. The situation illustrates a pattern where Trump's actions are seen more as efforts to claim triumphs while doing minimal actionable work.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode