The New Bazaar Tariffs and the global fallout
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Apr 11, 2025 Chad Bown, a leading trade economist from the Peterson Institute for International Economics and host of Trade Talks, dives deep into the turbulent world of tariffs. They discuss Trump's recent tariff decisions and their wide-reaching implications for the global trading order. Bown highlights the ongoing threats to the U.S. auto industry and the potential fallout for lower-income households. The conversation also explores the challenges of re-employing Americans in manufacturing and the complex dynamics affecting smaller nations and essential supply chains.
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Tariffs and US Manufacturing
- High tariffs could make U.S.-made goods more expensive, potentially impacting consumers.
- Manufacturing may increase domestically, but jobs might not follow due to automation.
Regressive Impact of Tariffs
- Tariffs act as a regressive tax, disproportionately affecting low-income individuals.
- Lower-income individuals often benefit from access to cheaper imported goods.
Services and Retaliation
- Current tariffs primarily target goods, but retaliation could impact U.S. service exports.
- Countries may retaliate by restricting exports of essential goods like critical minerals.