Trump's Terrible, Popular Tariffs

The Reason Roundtable

News, Politics

4.6 • 1.5K Ratings

🗓️ 5 February 2024

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this week's The Reason Roundtable, editors Matt Welch, Katherine Mangu-Ward, Nick Gillespie, and Peter Suderman counter the twisted logic of…

Transcript

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0:00.0	Welcome to the Reason Roundtable Podcast, now also on YouTube, as you can hopefully see.
0:11.0	It's the weekly podcast brought to you by the magazine Free Minds and Free Markets.
0:14.7	I'm Matt Welch joined by Nick Gillespie Peter, Suderman, and Catherine Mangue Ward.
0:20.2	Good morning, friendies.
0:21.8	Howdy. Hi,ies. Howdy.
0:23.0	Hi Matt.
0:24.0	Happy Monday.
0:25.0	So over the weekend, our once and future president, Donald J. Trump, said on Fox News with Maria Barteromo that he would like to see a 60% 60%
0:39.8	T% tariff on all goods coming from China. I'm not a mathematician, but I think what that means is that if you buy the $500 China thing,
0:50.0	it's now going to cost $800 if that comes to fruition.
0:55.0	Nick will check me up at halftime.
0:57.0	No, I really want.
0:59.0	Previously, Trump has talked about removing China from most favored nation trading status which is always
1:05.6	hard to say in a row like that that would effectively be a 40% tariff depending on how it all shakes out.
1:12.8	Plus he's been talking about a universal baseline tariff
1:16.6	on everything, including the non-communist countries,
1:20.9	at 10% across the board. So Catherine using your human voice can you explain to the crowd and including the people who are kind of sympathetic or tariff curious why you think this would be a terrible idea.
1:37.0	The very, very basic answer to that question is, it's just going to make stuff cost more for Americans and I don't really I can't think of like other ways to convey that idea because it seems like that should be enough like hey we buy a lot of stuff from China. And if we did this elaborate and
1:56.4	punitive tariff plan, we might buy a little bit less stuff, which is the goal according to tariff
2:05.9	backers. We should be less economically engaged with China is sort of
2:09.6	fundamentally the idea here. But we wouldn't buy zero stuff. We would still buy quite a lot of stuff and that stuff would be way more expensive and I don't know if you know this Matt but a thing that people are kind of worried about right now in the economy and our weird
2:23.9	economy that I guess we're gonna maybe talk about later is stuff is expensive the
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