Big, Beautiful Tariffs

Fareed Zakaria GPS

CNN

News

4.3 • 2.9K Ratings

🗓️ 28 December 2025

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

This special explores Trump’s historic increase in US import duties, which have pushed America to its highest aggregate tariff rate since the Great Depression. What kind of results can we expect? Fareed looks for lessons in history, tracing US tariffs from the 1800s onward and noting some of the pitfalls. Tariffs can foster crony capitalism, Fareed points out—and in illiberal regimes around the world, they’ve long been part of the autocrat’s playbook. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Sir, this is an executive order realigning.
0:05.0	People have wanted to do this for years.
0:08.0	On his first day back in office, President Donald Trump signed an executive order.
0:14.0	Thank you, sir.
0:15.0	Renaming North America's tallest peak, Mount Denali, to its former name, Mount McKinley,
0:21.6	in honor of the nation's 25th president, William McKinley.
0:27.6	We will restore the name of a great president, William McKinley, to Mount McKinley,
0:33.6	where it should be and where it belongs.
0:36.6	Trump has had something of a love affair with McKinley for years. William McKinley, where it should be and where it belongs. Trump has had something of a love affair with McKinley for years.
0:40.3	William McKinley.
0:41.3	William McKinley.
0:43.3	William McKinley.
0:44.3	Because they both shared a passion for tariffs.
0:48.3	This is the man that wanted tariffs.
0:50.3	He spoke beautifully of tariffs.
0:52.3	He understood the crucial importance of tariffs.
0:56.0	McKinley called himself a tariff man,
0:59.0	spearheading a roughly 50% tariff,
1:04.0	later earning the nickname, the Napoleon of Protection.
1:08.0	He raised massive amounts of money.
1:10.0	He made our country very rich.
1:12.6	According to Trump, McKinley's tariff spawned a golden age in the late 1800s.
	...

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