The New Statesman | UK politics and culture

American beef

Apr 3, 2025

Joining the discussion is Duncan Weldon, an economist and journalist known for his insights into global trade dynamics. He breaks down Trump’s recently announced tariffs and their ripple effects on the UK and global economy. Weldon highlights the challenges faced by American beef and poultry exports, examines the potential fallout for luxury goods and pharmaceuticals, and addresses fears over retaliatory actions by other nations. He also contemplates how these tariff changes could reshape market confidence and the future of the US dollar.

22:11

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Duncan Weldon

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Quick takeaways

President Trump's Tariff Liberation Day signifies a major alteration in U.S. trade policy aimed at protecting American industries amid criticisms of past agreements.

Skepticism toward the administration's tariff data suggests potential misrepresentation of trade impacts, raising concerns about economic repercussions for both the U.S. and global markets.

Deep dives

Trump's Tariff Liberation Day

The announcement of Tariff Liberation Day on April 2, 2025, marks a significant shift in U.S. trade policy under President Trump. He emphasized that this day will symbolize the rejuvenation of American industry and the reclamation of the nation’s economic strength. During his speech, he criticized past trade agreements as unfair, claiming that American taxpayers have been taken advantage of for decades. The proposed tariffs, issued as a response to perceived global trading injustices, promised to create higher prices on various imports, with specific outcomes impacting consumer goods like food and clothing.

Intro

2min

Tariffs and Their Global Impact

12min

The Impact of US Tariffs on Global Trade and Markets

4min

Tariffs and the Future of the Dollar

6min

Addressing the Winter Surge of Respiratory Illnesses in Infants

4min

Yesterday the US president Donald Trump unveiled his plans for his long trailed tariff liberation day. After a lengthy ‘speech’ about the cost of eggs and why the rest of the world wont buy American chicken and beef, Trump unveiled the quote unquote reciprocal tariffs the US will impose in the coming week.

So do the figures add up? And what will these tariffs mean for the UK and for the global economy?

Andrew Marr is joined by economist and journalist Duncan Weldon.

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