The Duran Podcast Tariff wars and peace talks w/ Jeffrey Sachs (Live)
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Apr 8, 2025 
Jeffrey Sachs, a leading expert on sustainable development and poverty alleviation at Columbia University, dives into the intricacies of tariff wars and their impact on global trade. He critiques U.S. trade policies under Trump, exploring their negative implications for American living standards. The conversation spans historical lessons from the Vietnam War and challenges within Germany's economy, stressing the need for diplomacy over conflict. Sachs also reflects on the shifting dynamics of global leadership and the resilience of economies in unpredictable times.
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Trade Deficits and Overspending
- US trade deficits don't indicate unfair trade practices, but rather that the US spends more than it earns.
- These deficits stem from chronic government overspending and tax cuts, not trade policies.
Tariff Plan's Flawed Logic
- Trump's tariff plan won't reduce the trade deficit because it ignores the root cause: the budget deficit.
- It also uses a flawed formula based on simplistic assumptions, disregarding broader economic effects.
The Negative Impact of Tariffs on Living Standards
- Tariffs won't raise American living standards, but rather lower them by increasing prices and disrupting supply chains.
- This hurts workers, even in protected industries, due to the interconnected nature of global production.