The Powers That Be: Daily
Trump’s Tariff D-Day
Apr 3, 2025
Bill Cohan, a financial journalist and author of "Dry Powder," joins to discuss Trump’s recent whirlwind tariff announcements and their chaotic effect on financial markets. They dive into the disconnect between Trump's optimistic portrayals and the looming economic reality for industries and consumers. The conversation also tackles Trump’s controversial pardons for white-collar criminals, including Ozy Media's Carlos Watson, and the troubling implications for the criminal justice system. Cohan provides keen insights into the intersection of politics and finance.
30:02
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Quick takeaways
- Trump's significant tariff announcements have provoked economic instability and strained international relations, with rising consumer prices as a direct consequence.
- The pardoning of white-collar criminals like Carlos Watson by Trump raises concerns about justice integrity and the erosion of public trust in the legal system.
Deep dives
Impact of New Tariffs on the Economy
The recent announcement of significant tariffs by the Trump administration has sent shockwaves through the economy, affecting a broad array of goods and straining relationships with international allies. A minimum of 10% tariffs are now imposed on products from numerous countries, with higher rates set for China, Japan, and the EU, which may further escalate tensions with previous trade partners. Economists have expressed skepticism about the effectiveness of these tariffs, arguing that they result in self-inflicted economic wounds that could exacerbate financial instability. As a consequence, consumer prices are expected to rise sharply, causing distress among price-sensitive shoppers who rely on affordable goods.
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