The Inside Story Podcast
How are Trump's tariffs impacting global financial markets?
Apr 7, 2025
Ian Goldin, a Professor at the University of Oxford focusing on Globalisation and Development, joins Deborah Elms from the Hinrich Foundation and Steven Erlanger from The New York Times to dissect the impact of Trump's tariffs. They discuss the potential for a global recession, the disproportionate harm to poorer nations, and how U.S. withdrawal reshapes global trade dynamics. Attention also turns to Europe's strategic challenges amid U.S.-China competition, revealing deep insights into the changing landscape of international relations and market stability.
24:20
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Quick takeaways
- Trump's tariffs are likely to cause global economic harm, particularly to poorer nations, while disrupting international trade relations.
- The shift in trade dynamics indicates countries are reconsidering their reliance on the U.S. market, potentially strengthening new economic alliances.
Deep dives
The Impact of Tariffs on the Global Economy
The implementation of tariffs by the U.S. has raised significant concerns about its effects on the global economy. Experts argue that these tariffs are likely to be economically harmful, potentially leading to a recession not just in the U.S., but also affecting other countries. This strategy is perceived as unjust, particularly impacting poorer nations that are already disadvantaged. The escalating tariffs are expected to disrupt international trade relations and cooperation on crucial issues like climate change and global health.
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