The Daily
Fear and Fury: The Fallout From Trump’s Tariffs
Apr 4, 2025
In this discussion, Peter Goodman, a global economy correspondent, Natalie Kitroeff, the Mexico City bureau chief, and Jeanna Smialek, the Brussels bureau chief, dissect the fallout from Trump’s sweeping tariffs. They analyze how these tariffs are reshaping international trade and the reactions from global markets, particularly the significant shifts in supply chains toward Southeast Asia. The conversation highlights the widening rifts between allies, the potential domestic job market impacts, and the geopolitical tensions that could ensue.
34:55
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Quick takeaways
- Trump's universal tariffs signify a departure from globalization, potentially leading to job losses and major shifts in international trade relations.
- The immediate market response to the tariffs saw significant stock declines, raising concerns over long-term economic stability and consumer confidence.
Deep dives
Global Trade Disruption
The announcement of universal tariffs by President Trump marks a significant shift in the global trading landscape, directly impacting nations around the world, particularly traditional allies like Canada and countries in Europe. These tariffs are seen as a major setback to the post-World War II trade system that has long governed international commerce. The new policy shifts focus away from globalization towards a more nationalistic trade approach, emphasizing manufacturing within the United States. Analysts predict severe consequences for the global economy, with potential job losses and economic hardship for millions worldwide as trade relationships are fundamentally altered.
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