Power Play
How the US-China trade war will do 'enormous damage' to the world
Apr 10, 2025
Join Jason Furman, former top economic advisor to President Obama and Harvard professor, as he unpacks the turbulent landscape of U.S.-China trade relations. Furman discusses Trump's abrupt tariff policy reversal and its repercussions on global markets. He sheds light on the historic peak of U.S.-China tariffs and the inflationary pressures facing American consumers. The conversation delves into the intricate dynamics of trade negotiations, highlighting the internal conflicts within the U.S. administration and the broad implications for the world economy.
20:40
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Trump's suspension of tariffs introduces uncertainty in global trade, particularly in U.S.-China relations, impacting international economic stability.
- The escalating trade conflict raises concerns about retaliatory measures from China, potentially leading to price hikes and decreased consumer spending.
Deep dives
Impact of Trump's Tariff Suspension
President Trump's abrupt suspension of the tariff policy has created a wave of uncertainty in global trade, particularly affecting relations with China. This temporary 90-day pause on higher tariffs for over 60 countries was perceived as a significant shift given the previously anticipated steep increases, especially the staggering 125% tariff rate on Chinese imports. Economists argue that although there is recognition of Trump's responsiveness to market pressures, the overall impact of such high tariffs remains severe, leading to potential inflation and economic strain for American consumers. The complexity of the situation highlights how Trump's tariffs have escalated tensions with allies while complicating global economic dynamics.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
