Is the Global Trading System Breaking Down?
Patrick Boyle On Finance
Patrick Boyle
4.9 • 308 Ratings
🗓️ 5 August 2025
⏱️ 26 minutes
🧾️ Download transcript
Summary
In this weeks podcast, we examine the implications of Trump’s latest trade deals —from the one-sided EU deal to politically charged moves against Brazil. Are the deals being structured to exclude China from global supply chains and are these tariffs just about trade, or something more? We explore how constant changes are disrupting business activity, whether manufacturing is really coming back to the U.S., and what history tells us about protectionism’s impact on innovation and productivity.Unhedged Podcast Link: https://open.spotify.com/episode/3CREUnnwvLIJO7xxkUb1h8?si=c240e7c1bbe14cb3
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Transcript
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| 0:23.2 | Markets were on edge this week as Donald Trump's August 1st deadline for trade negotiations on US |
| 0:29.4 | tariffs finally ran out. Trump has already announced tariffs on goods imported from many of |
| 0:35.6 | America's largest trading partners as trade negotiators |
| 0:39.2 | rush to strike last-minute deals or extensions. The deadline came more than 120 days after |
| 0:46.2 | Trump first announced his list of Liberation Day tariffs on imported goods back on April 2. |
| 0:53.7 | Despite delays, the Trump administration now looks ready |
| 0:57.1 | to roll out new tariff rates for the countries that didn't manage to secure a deal before |
| 1:02.9 | the Friday deadline. White House Press Secretary Caroline Levitt announced that two-thirds of the |
| 1:09.3 | US's 18 major trading partners already have a deal, and that |
| 1:14.1 | letters have been sent to an additional 17 nations. The White House said that countries |
| 1:20.4 | that have not struck a trade deal or have not received a letter with a new tariff rate will hear |
| 1:26.2 | from the Trump administration by midnight |
| 1:28.6 | on Friday. Taiwan, the world's most important semiconductor exporter, was hit with a 20% tariff. |
| 1:36.2 | Tariffs were raised on Canada, a historic US ally and major trading partner, to 35%. India was hit with a 25% tariff and Switzerland with 39%. |
| 1:50.0 | Trump said that he would not be extending the deadline this time around, tweeting, the August |
| 1:55.9 | 1st deadline is the August 1st deadline. It stands strong and will not be extended. A big day for America |
| 2:04.5 | on his version of Twitter, which is called Truth Social, earlier this week. It was all in caps, |
| 2:11.1 | so I was probably supposed to shout that at you, but I won't. On Thursday, he announced |
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