The News Agents Has a free speech row derailed our US trade deal?
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Apr 1, 2025 
Join Andy Haldane, former chief economist at the Bank of England, as he dissects the impending trade tensions sparked by Trump's tariff threats. He explores how political issues potentiate trade negotiations and reflect broader economic impacts on the UK. The conversation dives into the surprising unity among nations against these policies, the role of cultural narratives like 'Adolescents' in political discourse, and the complexities of shaping effective fiscal strategies in today's economic landscape.
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Trump's Tariff Strategy
- Trump's rhetoric on tariffs portrays the decision as external, obscuring his own agency.
- His motivations could range from a sense of fairness to a complex macroeconomic strategy.
Trump's Tariff Goals and Their Flaws
- Trump's tariff strategy has three goals: remedy unfair trade, revitalize US industry, and raise revenue.
- However, tariffs often suppress economic growth, negating revenue gains and requiring compensation for affected industries.
Past Tariff Success and Its Limitations
- Trump's 2018-2019 China tariffs offset inflationary pressures, emboldening him to consider broader application.
- This ignores the scale difference and the $28 billion paid to farmers for losses from reciprocal tariffs.