The Economic Risk of Donald Trump’s Tariff Plans

WSJ Opinion: Potomac Watch

The Wall Street Journal

News, Society & Culture

4.2 • 2.8K Ratings

🗓️ 23 October 2024

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

Donald Trump is promising a universal 10% to 20% tariff on all imports to the U.S., plus perhaps 60% on China. Together this could push U.S. border taxes to highs not seen since the Great Depression and the infamous Smoot-Hawley tariff. Do Trump's first-term tariffs suggest he'd follow through with this? And does a president actually have the power to create a blanket tariff? Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	How do?
0:02.0	What's in this box?
0:03.4	What does this thing do?
0:05.3	Kids are curious about everything, including guns.
0:08.4	Learn how to store your guns securely and make your home safer at
0:11.2	N-family Fire.org. Brought to you by fire at end family fire Brady and the I
0:14.6	council from the opinion pages of the Wall Street Journal this is
0:21.4	Potomac Watch.
0:24.2	Donald Trump is campaigning on higher tariffs,
0:27.0	including a new universal tariff that could take the US
0:30.6	back to the days of Smoot Holly. But would he do it? Could he do it? And how big of an economic risk
0:36.2	does this pose for the U.S. and the world? Welcome, I'm Kyle Peterson with the Wall Street Journal.
0:41.9	We're joined today by my colleagues columnist
0:44.5	Alicia Finley and editorial board member Manet Uque Barua. He once called himself
0:50.0	a tariff man and Donald Trump is back at it during the 2024 presidential
0:55.1	campaign. He's proposed a blanket baseline tariff on everything
0:59.5	imported to the US, something like 10% to 20%, while also floating higher border taxes on anything
1:05.8	coming from China, maybe up to 60%.
1:08.8	Let's hear from the man himself.
1:10.0	This is Donald Trump at the Economic Club of Chicago last week speaking with the editor of
1:14.6	Bloomberg News.
1:15.6	Critics say your tariffs will end up being like a national sales tax.
	...

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