Why It Matters

The unprecedented trade policies since the beginning of this year, driven largely by the Donald Trump administration’s pro-tariff agenda, have propelled the United States into uncertain and rocky territory. When it comes to our trading partners, the potential damage to U.S. alliances has left economists and policymakers in Washington questioning what’s next. Where do experts foresee U.S. trade policy heading?   This season, Why It Matters is taking you through the ins and outs of trade. In this season finale, CFR’s Michael Froman and Shannon K. O’Neil tackle your biggest questions about what’s at stake and what’s next for U.S. trade policy.    Featured Guests:   Michael Froman (President of the Council on Foreign Relations)   Shannon K. O’Neil (Senior Vice President, Director of Studies, and Maurice R. Greenberg Chair, CFR) To hear more from Michael Froman, subscribe to his newsletter, The World This Week.   For an episode transcript and show notes, visit us at https://www.cfr.org/podcasts/wim/where-does-trade-go-here 

Brad Setser, a senior fellow at CFR specializing in global trade, and Heather Hurlburt, an expert at Chatham House, dive into the complex world of the U.S. trade deficit. They explore whether this deficit is truly detrimental, arguing that it can enhance economic variety and attract foreign investment. The discussion also unpacks the historical context of trade relations, the nuances of tax impacts, and how these factors directly affect American jobs and consumer prices, challenging the oversimplified narratives around trade deficits.

Host Gabrielle Sierra and podcast guests Johanna Mendelson Forman and Matthew Costello discuss food diplomacy, share stories from White House state dinners, and unpack how food has helped to create lasting international partnerships.   This taping was originally recorded on April 17, 2025.   Featured Guests   Johanna Mendelson Forman (Distinguished Fellow at the Stimson Center, Adjunct Professor at American University’s School of International Service) Matthew Costello (Chief Education Officer and Director of the David M. Rubenstein National Center for White House History at the White House Historical Association)

Inu Manak, a trade policy fellow at the Council on Foreign Relations, dives into the tumultuous world of U.S. trade agreements. She discusses the historic shift in trade authority from Congress to the presidency and critiques the risks of abrupt policy changes. The conversation navigates the complexities and conflicts arising from recent tariffs, using the Ford F-150 as a compelling case study. Inu also highlights the evolving landscape of international trade relations and the urgent need for domestic policies that support American workers amid these changes.

Tariffs have sparked intense debate in Washington, but their consequences land far from Capitol Hill. Tariffs can shape paychecks, shift prices for consumers, and affect markets. At best, tariffs offer short-term protection for certain industries. At worst, they can uproot the lives of American workers. In this episode, Why It Matters looks at what tariffs mean for a U.S. steel manufacturer and small business owner trying to stay afloat.   Featured Guests   Matthew P. Goodman, Distinguished Fellow and Director of the Greenberg Center for Geoeconomic Studies, CFR   Jamie Sychak, President of United Auto Workers Local 3303 Debbie Hendrickx, Founder and CEO of Swell Gelato   For an episode transcript and show notes, visit us at: https://www.cfr.org/podcasts/wim/tariff-turmoil-part-2-steel-and-dog-gelato 

Will Hsu, President of Hsu's Ginseng Enterprises Inc., shares the personal toll tariffs are taking on his ginseng farm in Wisconsin. He highlights how volatile trade policies impact local farmers and the cultural significance of ginseng cultivation. Matthew P. Goodman, a distinguished trade expert, provides insights into the broader implications of tariffs on U.S. industries and national security. Together, they explore the complex challenges facing American agriculture in a changing trade landscape.

Shannon K. O’Neil, a leading authority on global trade at the Council on Foreign Relations, joins to discuss the evolving landscape of U.S. trade policies. She examines the decline of the Washington Consensus, contrasting its historical role in promoting unity with the current trend towards protectionism. The conversation dives into the impact of tariffs under the Trump administration, highlighting their role in both international relations and American business uncertainty. O’Neil emphasizes the need for a renewed trade strategy to adapt to ongoing global challenges.

Edward Alden, a senior fellow specializing in U.S. economic competitiveness and trade, dives into the evolution of trade and its growing significance beyond mere goods exchange. He explores how trade has reshaped foreign policy and national security dynamics, and the consequences of U.S. nationalism on global norms. Alden discusses the cost implications of a return to domestic manufacturing and highlights the vulnerabilities of global supply chains exposed by the pandemic, ultimately illustrating how trade policy impacts economic stability and global relations.

Delve into the intricate web of global trade and its significance in shaping international relations. Hear firsthand stories from Americans and uncover misconceptions about trade policies. Experts provide historical context and contemporary insights, revealing where U.S. trade strategy has faltered. This eye-opening discussion emphasizes trade's impact on everyday lives and highlights its complexities in a rapidly changing world.

As the climate crisis intensifies, so do discussions about the utilization of nuclear energy. In the aftermath of nuclear meltdowns such as Chernobyl and Fukushima, climate skeptics say the environmental benefits do not outweigh the associated costs and risks. But others think that nuclear energy might be the best option for a greener future. Weighed against the world’s continued reliance on fossil fuels, how could nuclear be a safeguard for our energy supply?   This episode was originally released on October 29, 2021.   Featured Guests   Leslie Dewan, CEO, RadiantNano   Shirley Ann Jackson, President, Rensselaer Polytechnic Institute For an episode transcript and show notes, visit us at https://www.cfr.org/podcasts/the-climate-for-nuclear-energy