Trump’s Tariff Wars

Foreign Policy Live

Foreign Policy

News Commentary, News, Politics

4.1 • 622 Ratings

🗓️ 31 January 2025

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

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Summary

At a White House press briefing on Tuesday, the Trump administration maintained that it would impose a 25 percent tariff on imports from Mexico and Canada on Feb. 1. This comes after announcing a 10 percent duty on China earlier in the week. Trade and capital expert Brad Setser is skeptical that it will follow through, though, saying that the economic ramifications of tariffs at that scale would be a “ pretty bloody big shock.” Setser sits down with host Ravi Agrawal to share more. Suggested reading (FP links are paywall-free): Aaron L. Friedberg: Tariffs Are a Scalpel, Not a Hammer Wendy Cutler: How Trump Could Strike a Trade Deal With China Keith Johnson: How to Read Trump’s Day-One Trade Actions Scott Kennedy: Markets Are Underpricing the Possibility of a U.S.-China Economic War Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:30.1	What I told people, I was making a podcast about Benghazi.
0:34.1	Nine times out of ten, they called me a masochist, rolled their eyes, or just asked, why?
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1:00.3	Hi, I'm Ravi Agrawal, Foreign Policy's editor-in-chief.
1:05.2	This is FP Live.
1:10.2	So the White House says it plans to impose a 25% tariff on its two biggest trading partners on Saturday.
1:18.6	We're recording this conversation on Thursday. So at this point, there are just two days to go for this threat to play out.
1:26.4	Now, of course, Canada and Mexico can avoid this fate,
1:31.0	but only if they convince President Trump that they've done enough to halt the flows of undocumented
1:37.3	immigrants and fentanyl, the deadly opioid. Is all of this a negotiating tactic, a new style of foreign policy, a correction in how America
1:48.1	engages with the world, or is it plain old bullying?
1:52.3	I wanted to have a discussion about not only what tariffs Trump will actually enact, but
	...

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