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Can you tariff-proof a cocktail?
Apr 5, 2025
In this engaging discussion, guest co-host Sabree Beneshore, a savvy contributor on economic topics, dives into why you can't tariff-proof your shopping list or cocktail. The conversation explores the challenges of reshoring and the complexities of tariff negotiations. They reflect on Congress's potential power changes over tariffs while balancing lighthearted mentions of drinks. Plus, there's a fun analysis of the latest season of 'White Lotus.' Join them in navigating economics with an entertaining twist!
29:20
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Quick takeaways
- The introduction of tariffs can significantly elevate consumer prices and exacerbate inflation, impacting economic growth adversely.
- Congress is exploring measures to regain control over tariff decisions, aiming for increased legislative oversight and accountability in economic policy.
Deep dives
Impact of Tariffs on Prices and Inflation
Tariffs have significant implications for consumer prices and inflation, as highlighted by recent statements from Federal Reserve Chair Jerome Powell. The introduction of tariffs has been identified as a factor that could exacerbate inflation, leading to a rise in product costs without substantial justification. For instance, the increased cost of benzene, a critical component for many chemical products, reflects how tariffs can elevate expenses for manufacturers, which in turn can impact retail prices. This situation often results in a cycle where consumers face heightened prices due to tariffs, which could hinder economic growth.
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