Trump's Tariff Showdown
What A Day
What A Day
4.6 • 12.6K Ratings
🗓️ 4 February 2025
⏱️ 22 minutes
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Summary
As of Monday evening, President Donald Trump’s promised tariffs on Canada and Mexico are on hold for at least 30 days. But that could all change as the Trump administration continues to negotiate with U.S. allies. Scott Lincicome, Vice President of General Economics and Trade Policy at the Cato Institute, tells us what a trade war is and how it affects all of us.
And in headlines: Democrats put out a 10-part plan to “push back against the far-right extremism,” Secretary of State Marco Rubio said he’s the acting director of USAID, and President Trump signed an executive order to create a sovereign wealth fund.
Show Notes:
- Check out Scott's book: cato.org/books/defending-globalization
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Transcript
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| 0:00.0 | It's Tuesday, February 4th. |
| 0:03.8 | I'm Jane Koston. |
| 0:04.8 | This is Wadaday, the show that was really excited to find out that it's almost the weekend |
| 0:08.7 | until being told just now that it's Tuesday. |
| 0:18.4 | On today's show, Trump signs an executive order that could do something perhaps with TikTok or perhaps not. |
| 0:25.4 | And near-at-Governor Kathy Hockel introduces measures to protect doctors prescribing abortion pills out of state. |
| 0:31.1 | But let's start with the economy and tariffs, Trump's favorite word, and the subject of pretty much endless commentary over the last few days. |
| 0:38.4 | We are recording the show on Monday evening. And as of right now, President Donald Trump's |
| 0:42.9 | promised tariffs on Canada and Mexico are on hold for at least 30 days. Here's Mexico's president, |
| 0:48.1 | Claudia Scheinbaum, explaining through an interpreter how her conversation with President Trump went |
| 0:52.4 | on Monday morning. At the end, he asked how long we could put the tariffs on hold, and I told him, let's put them on hold |
| 0:59.6 | permanently. He then asked, well, for how long? I responded, let's pause them for a month, |
| 1:05.4 | and I'm confident that in a month we will deliver results for both his people and Mexico. |
| 1:15.3 | In return for the pause, Mexico agreed to send 10,000 troops to the U.S. Mexico border, |
| 1:20.6 | which sounds great for Trump, except for the fact that Mexico already has 15,000 troops deployed to the U.S. Mexico border, which they did in 2019, which was, to be clear, a while |
| 1:26.3 | ago. Also on Monday, Canadian Prime Minister Justin Trudeau announced that he had a, quote, |
| 1:31.6 | good call with President Trump and that Trump agreed to pause the tariffs on Canadian goods for 30 days. |
| 1:37.1 | Though much of what Trump thinks he got out of Canada already happened. |
| 1:41.4 | He said that Canada is going to be implementing a $1.3 billion border plan where they talk |
| 1:46.5 | about reinforcing the border. |
| 1:48.0 | I should note, that's actually something that Trudeau announced and Canada announced back |
| 1:51.3 | in December, about mid-December. |
... |
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