Slate Business
Slate Money | The Truth Behind Donald Trump’s Tariff Talk
Dec 28, 2024
Paul Krugman, the iconic economist and columnist, shares his insights on global trade and the complexities of tariffs during his candid conversation with Felix Salmon and Emily Peck. They dive into the impacts of Trump's tariff policies and the potential risks for trade relations with Canada and Mexico. Krugman also offers a perspective on the intersection of politics and economics, examining how voter expectations shape economic advice. Floating ideas about the future of American healthcare, they highlight the evolving discussion around single-payer systems amidst wider dissatisfaction.
51:41
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Quick takeaways
- Paul Krugman highlights that Trump's tariff policies could significantly disrupt North American manufacturing due to the intricacy of supply chains.
- Krugman asserts that Biden's economic legacy may ultimately be viewed positively, despite political challenges, due to his quick recovery strategies post-pandemic.
Deep dives
Paul Krugman's Perspective on Trade Policy
Paul Krugman discusses the evolving trade policies under the Trump administration, notably Trump's inclination towards tariffs. He emphasizes Trump's belief that a trade surplus indicates economic success, a perspective that leads him to threaten tariffs on key trading partners such as Canada and Mexico. Krugman predicts that if implemented, these tariffs could severely disrupt North American manufacturing, which relies heavily on integrated supply chains. He expresses concern that Trump's understanding of trade dynamics may be limited and that sound economic advice could be sidelined in his administration.
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