Big Technology Podcast Trump, Tariffs, Trade War, And Technology — With Alan Deardorff
Nov 4, 2024
Alan Deardorff, a professor emeritus of international economics at the University of Michigan, dives into the intricate world of tariffs and trade on the eve of the elections. He discusses the contrasting views of Trump and Harris on trade policies and the potential risks posed to U.S. tech companies by a trade war. The conversation also scrutinizes China's practices, the implications for electric vehicles, and how tariffs could reshape retailer strategies. Deardorff concludes with insights on currency debasement and the stability of the U.S. dollar.
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Silicon Valley's Trade Dependence
- Tariffs and trade wars are important for Silicon Valley due to its reliance on international trade.
- Tech companies depend heavily on imports and global supply chains.
Escalating Trade War
- China retaliated against previous U.S. tariffs with their own tariffs.
- A 60% tariff on China would significantly escalate this ongoing trade war.
Benefits of Specialization
- Countries benefit by specializing in what they do best in international trade.
- Bringing production home raises costs and may hamper industries dependent on cheaper imports.