Raising revenue vs. protecting industry: A deep dive into America's use of tariffs
On Point | Podcast
WBUR
4.2 • 3.5K Ratings
🗓️ 16 October 2024
⏱️ 49 minutes
🧾️ Download transcript
Summary
Former President Trump wants to build a tariff wall: 60% tariff on goods from China, 20% on imports from everywhere else in the world. But what exactly are tariffs, and who do they help or hurt?
Transcript
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| 0:30.7 | This is on point. I'm Meagnachra Bardi. Former President Donald Trump spoke at the Economic Club of Chicago yesterday and said of all the words in the English language. |
| 0:42.0 | To me the most beautiful word in the dictionary is tariff. |
| 0:46.0 | And it's my favorite word. |
| 0:48.0 | Trump is campaigning on a sweeping new tariff proposal. If elected he says he'd implement a 60% tariff |
| 0:56.4 | on all imports from China and up to a 20% tariff on goods coming into the US |
| 1:02.1 | from everywhere else in the world. |
| 1:04.0 | Trump claims the tariffs could accomplish two goals. |
| 1:07.0 | Number one is for protection of the companies that we have here and the new companies that will move in because we're going to have thousands of companies coming into this country. |
| 1:16.7 | We're going to grow it like it's never grown before and we're going to protect them |
| 1:20.7 | when they come in because we're not going to have somebody undercut |
| 1:23.6 | him. |
| 1:24.6 | Trump implemented tariffs during his first presidency. |
| 1:27.8 | Later in the show we'll talk about exactly what those tariffs were and their impact |
| 1:31.7 | on the US. |
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