Today, Explained An America First trap
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Mar 17, 2025 
In this discussion, Jeff Stein, Chief Economics Correspondent for The Washington Post, and Chris James Michener, Professor of Economics at Santa Clara University, dive into the ramifications of America's recent shift towards aggressive trade policies. They reflect on past protectionist measures, like the Smoot-Hawley Tariff Act, and the economic fallout from earlier trade wars. The conversation highlights the uncertainty businesses face today, public sentiment on tariffs, and the broader implications for global trade relations and the economy.
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Current Trade War
- The US has implemented tariffs on goods from China, Mexico, and Canada, its three largest trading partners.
- These tariffs are part of an ongoing trade war and affect a significant portion of US imports.
Impact of Uncertainty
- Uncertainty surrounding Trump's tariff policies makes it difficult for businesses to plan and invest.
- This uncertainty contributes to declining consumer confidence and a potential economic downturn.
Trump's Goal
- Trump aims to rebalance the global financial system by strengthening American manufacturing.
- He believes the strong dollar hurts American manufacturing jobs, making imports cheaper and exports more expensive.