Trump’s Sweeping Tariffs

Fareed Zakaria GPS

CNN

News

4.3 • 2.9K Ratings

🗓️ 3 August 2025

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today on the show, President Trump’s sweeping new tariffs go into effect this week. Fareed speaks with Zanny Minton Beddoes, the editor-in-chief of The Economist, and Oren Cass, founder and chief economist of the conservative think-tank American Compass, about what this trade war could mean for the economy in America and around the world. Then, the hunger crisis continues in Gaza. How did it get this bad? Fareed is joined by Gregg Carlstrom, the Middle East correspondent for The Economist, to explain the backstory of how this happened – and what needs to be done to fix it. Finally, Facebook co-founder Chris Hughes sits down with Fareed to talk about his new book “Marketcrafters” and what policymakers can do to effectively shape the American economy. GUESTS: Oren Cass (@oren_cass); Zanny Minton Beddoes (@zannymb); Gregg Carlstrom (@glcarlstrom); Chris Hughes (@chrishughes) Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	This is GPS, the Global Public Square.
0:04.0	Welcome to all of you in the United States and around the world.
0:07.0	I'm Farid Zakaria.
0:09.0	Today on the program, President Trump's August 1st tariff deadline has come and gone.
0:17.0	It has brought trade deals for some nations, but not all. Can America win a trade war
0:25.2	if its allies lose it? I'll ask the economist Zanny Minton-Bettos and Orrin Cass, an influential
0:33.5	Trump-supporting intellectual. Then,
0:38.3	the scenes of suffering continue in Gaza as the world struggles to get aid in.
0:46.3	While Benjamin Netanyahu denies that there is starvation,
0:50.3	the UK, France and Canada are making moves toward recognizing a Palestinian state,
0:56.0	and Donald Trump is pledging to work with Israel to open food hubs.
1:00.0	That's real starvation stuff, I see it.
1:03.0	Journalist Greg Karlstrom will explain how the humanitarian crisis got to this point. Finally, military spending is soaring worldwide.
1:16.6	Can we afford the price?
1:23.6	But first, here's my take.
1:25.6	In the midst of the blizzard of last-minute tariff threats and trade deals, we're losing
1:31.2	sight of the big story here.
1:33.8	A seismic shift is taking place in world affairs.
1:37.3	The United States, the creator and upholder of the open global economy, now is imposing its highest average tariff rate in nearly a century,
1:48.9	the highest of any major economy in the world.
1:52.9	The Trump administration is reversing 80 years of American economic and foreign policy,
1:58.2	which consistently pushed countries to remove restrictions and
	...

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