Kimberly Clausing, a UCLA professor and former lead economist in the Biden administration's Office for Tax Policy, sheds light on the potential impacts of Trump's proposed tariffs. She discusses how tariffs could affect multinational corporations, consumers, and the economy at large. Clausing challenges the belief that foreign exporters will absorb costs, emphasizing that U.S. consumers often bear the brunt. She also critiques the current U.S. tariff strategy, highlighting its favoritism towards large corporations and arguing for a fairer economic approach.

In this engaging discussion, Kimberly Clausing, a UCLA professor and former lead economist in the Biden administration, explores the potential impacts of Trump's tariff policies. She examines whether tariffs are as harmful as some believe and reflects on past economic outcomes. Clausing highlights misconceptions about the U.S. trade deficit and argues that tariffs alone won’t fix underlying issues. The conversation also delves into how trade policies have historically impacted corporations and workers, advocating for more equitable economic solutions.

Guests Jason Furman, a Harvard professor and former economic advisor under Obama, and Kimberly Clausing, a UCLA law professor and former Treasury official, dive deep into trade and industrial policy. They critique past economic strategies, especially free trade agreements, and discuss the complexities of tariffs aimed at boosting domestic production. The conversation also touches on strategic sectors like microchips and the important balance between national security and economic growth. Expect enlightening insights on the evolving landscape of American economic policy!