Trump's economic warfare – Are there any winners?

This Is Not A Drill with Gavin Esler

Podmasters

News, Society & Culture, Politics

4.8 • 1.6K Ratings

🗓️ 22 September 2025

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

Trump’s economic policies have caused chaos globally and he’s made it clear he’s happy to use America’s financial might against his enemies – or help his friends. But, when it comes to security, who is this actually helping? In the latest episode of This Is Not A Drill – we ask,how do tariffs and inflation in the US impact global security? Emma Beals is joined by Adam Posen, the president of the Peterson Institute for International Economics. Read Adam Posen’s Foreign Affairs article ‘The New Economic Geography’ here. • This episode of This Is Not A Drill is supported by Incogni the service that keeps your private information safe, protects you from identity theft and keeps your data from being sold. There’s a special offer for This Is Not A Drill listeners – go to https://incogni.com/notadrill to get an exclusive 60% off your annual plan. • Support us on Patreon to keep This Is Not A Drill producing thought-provoking podcasts like this. Written and presented by Emma Beals. Produced by Robin Leeburn. Original theme music by Paul Hartnoll – https://www.orbitalofficial.com. Executive Producer Martin Bojtos. Managing Editor Jacob Jarvis. Group Editor Andrew Harrison. This Is Not A Drill is a Podmasters production. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Hey Anna, I've got a new secret weapon for print. Print? Vista print, right? That's not a secret.
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0:20.6	Tariffs, trade wars and economic competition between the US and China have all been in the headlines
0:25.6	for months. Domestically, attacks on the Fed and civil servants who prepare jobs reports have
0:31.0	spooked investors. A stable US economy and dollar has underpinned global trade, alliances
0:36.8	and security for the last 80 years.
0:39.7	It's not only the aggressive negotiations around tariffs impacting the global order.
0:44.2	As the negative impacts of Trump's economic policies begin to bite, the role America is played
0:49.4	as an economic backstop is under threat.
0:52.6	So how does inflation in the US impact global security?
0:56.7	And how are Trump's economic policies impacting alliances and bringing adversaries closer together?
1:03.4	I'm Emma Beals and this is not a drill. A soggy jobs report and an increase in inflation suggests that the US economy is starting to see the impact of Trump's policies.
1:36.0	Investor confidence is waning and reliance on the dollar is reducing. For some in the administration,
1:41.6	this is a positive thing. But a softening U.ening US economy alongside trade wars and tariffs have created a tipping point that's
1:49.0	reshaping global alliances and rewriting the future.
1:53.0	To help unpack these policies, how the world is responding and what this means for global affairs,
1:58.0	I'm joined by Adam Posent, the president of the Peterson Institute for International
2:02.6	Economics and a former member of the Bank of England's Monetary Policy Committee.
2:07.5	Thanks for joining me, Adam.
2:09.1	Glad to be here with you, Emma.
2:11.3	So let's set the scene to begin with.
	...

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