The podcast delves into the ramifications of tariffs instituted during the Trump era and their projected impact on the U.S. economy by 2025. It closely examines how rising tariffs could stifle growth and inflation across various sectors, particularly autos and pharmaceuticals. With imminent product-specific tariffs on the horizon, the discussion highlights the uncertainty looming over investment strategies and the broader repercussions for domestic industries and international trade relations.
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Trade Policy Impact
The Trump administration's trade policies, especially tariffs, have affected US economic growth and inflation.
The average effective tariff rate has risen and will likely remain elevated, hindering growth and fueling inflation.
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Tariff Increases
Tariffs on Chinese imports increased by 20 percentage points, and on Canadian and Mexican imports by 12-15 percentage points in 2025.
These tariffs on goods from Mexico and Canada arose from non-compliance with the USMCA.
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Expected Tariffs
Further tariffs are anticipated, targeting trade partners with large trade deficits with the US.
The goal is to adjust import tariffs based on both tariff and non-tariff barriers.
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We look at the impact of the Trump administration's trade policy, especially tariffs, and how this could affect U.S. economic growth and inflation in 2025.
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