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The Fifth Column

#479 - The Case Against Tariffs (w/ Scott Lincicome)

Nov 13, 2024
Scott Lincicome, a senior lecturer at Duke University and trade policy expert at Cato, dives into the complex world of tariffs and their implications. He discusses the potential economic repercussions of a second Trump administration, exploring how tariffs affect consumers and industries. Lincicome highlights the importance of reclaiming congressional authority over trade decisions and critiques protectionist policies. The conversation also touches on the evolving landscape of Republican trade philosophy and even includes some playful commentary on the WNBA.
01:59:03

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • The podcast discusses how Trump's first term reshaped trade policies, introducing tariffs that disrupted international relations and impacted the economy.
  • Economic consequences of Trump's tariffs led to higher costs for consumers and a net loss of manufacturing jobs, complicating public perceptions of trade.

Deep dives

Impact of Trump's First Administration on Expectations for the Second

The discussion highlights the significant insights gained from Donald Trump's first term, which serves as a critical reference point for anticipating the policies and actions of a potential second administration. Trump's initial tenure marked a radical departure from the established bipartisan consensus on trade, introducing national security tariffs that disrupted long-standing international relations, even with allies. The ongoing trade war with China escalated unexpectedly, showcasing a volatility that characterized his approach to governance. This unpredictability is expected to resurface in a second term, prompting concerns among economists regarding the potential economic repercussions of similar policies.

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