The Rest Is Politics 391. Trump vs. the World: Global Trade War
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Apr 4, 2025 Rory and Alastair dive into the tumultuous landscape of the global trade war, questioning if we’re on the brink of a recession. They dissect Trump's unique trade tactics and how his personality intertwines with his policies, shaping international relations. The duo also critiques economic rhetoric, emphasizing the impact of tariffs on jobs and the economy. Notably, they highlight the economic toll on small nations, with Lesotho as a case study. The conversation culminates in a discussion on the challenges and potential crises looming over global trade dynamics.
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Tariffs as a Power Play
- Trump's tariffs are a power play, giving him control and forcing others to negotiate.
- This creates opportunities for corruption and undermines liberal markets.
US Anxiety about Trade Deficits
- There's a persistent anxiety in the US about trade deficits, particularly with China.
- The narrative is that China's practices have led to job losses and a strong dollar.
Arbitrary Tariff Targets
- Trump's tariffs target any country with a trade surplus, regardless of actual trade practices.
- This indiscriminate approach, exemplified by Lesotho, will cause widespread economic damage.