Coffee House Shots Tariff turmoil: the end of globalisation or a blip in history?
Apr 12, 2025
Tej Parikh, a writer from the Financial Times, dives into the complexities of globalisation amidst recent tariff controversies. He and fellow commentator Kate Andrews argue that, despite protectionist trends, globalisation is far from finished. They discuss the shifting landscape of trade, emphasizing the importance of digital services and the need for government adaptation. The conversation also critiques misconceptions about trade deficits and highlights the essential role of retraining communities to navigate these economic changes.
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Globalisation's Resilience
- Globalisation has faced protectionist challenges historically but tends to reassert itself over time due to economic imperatives.
- Services and digital trade are increasingly important, diminishing the focus solely on goods.
Shift to Services Trade
- The global economy is shifting towards services and digital products, which grow faster than traditional goods trade.
- Trump's tariffs focus mainly on goods, overlooking the rising importance of services trade.
Uncertainty in Trump's Tariffs
- Trump's tariff policy is unclear and seems to mix negotiation with hard stances, causing uncertainty.
- America’s protectionism rise impacts global trade relations, making it one of the most protectionist developed nations.