The Political Scene | The New Yorker
Donald Trump Gets a “Spanking” from the Bond Market
Apr 11, 2025
Mark Blyth, a Professor of International Economics and Public Affairs at Brown University, joins the discussion to unpack the recent bond market shifts and their influence on Donald Trump's trade policies. He highlights the power dynamic between the U.S. and China, noting that the latter can endure economic pain better than Trump’s administration anticipates. Blyth critiques the reliance on tariffs as a solution, advocating for deeper, more comprehensive policies to address America’s industrial challenges and global economic engagement.
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Quick takeaways
- Trump's erratic tariff policies highlight the volatility in the global economy, prompting immediate market reactions and retreat under pressure.
- The podcast underscores the significant geopolitical repercussions of Trump's trade strategies, particularly the confrontation between the U.S. and China amidst rising tensions.
Deep dives
Trump's Tariff Strategy and Its Consequences
Donald Trump's approach to tariffs has thrown the global economy into disarray, resulting in significant fluctuations in the financial markets. Initially, his administration imposed high tariffs, which prompted a retreat just hours later amidst a market sell-off. This led to critiques that Trump's policies create instability, with some describing his actions as akin to setting a house on fire and then panicking upon seeing the flames. The retreat illustrates a broader theme of unpredictability in Trump's economic strategy and raises questions about its efficacy and long-term implications.
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