Impact of Tariff Policies on Global Trade

The podcast discusses the significant influence of tariff policies on the global economy, emphasizing the need to understand how these tariffs will affect inflation and growth in 2025. The host mentions that both tariff restrictions and immigration policies will play crucial roles in shaping economic conditions. Tariffs are expected to increase inflation while simultaneously restricting growth, presenting a challenge for policymakers. The timing and implementation of these tariffs—whether they will be introduced all at once or phased in over the year—are highlighted as areas of irreducible uncertainty that could markedly impact economic forecasts.