The Foreign Desk How to win a trade war
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Feb 8, 2025 Tina Fordham, a geopolitical strategist and founder of Fordham Global Foresight, dives into the complex implications of tariffs. Historian Alex von Tunzelmann shares intriguing tales from trade conflicts like the Chicken War, illustrating their diplomatic fallout. Elisabeth Braw, from the Atlantic Council, discusses how current trade wars reflect a retreat from globalization, highlighting the emotional struggles of citizens. Together, they unpack whether today's economic tussles are unique or just part of a larger pattern against global interconnectedness.
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How Tariffs Work
- Tariffs are taxes imposed on imported goods and services, usually collected by customs.
- They increase consumer prices as producers pass on the added cost.
Reasons for Tariffs
- Governments use tariffs to protect developing industries or for national security.
- Trump's tariff motivations are unclear, causing uncertainty in markets.
Trump's Tariff Tactics
- Trump threatened tariffs on Canada and Mexico, then reversed them after minor concessions.
- This chaotic approach creates confusion and questions America's reliability.