4.1 • 5.3K Ratings
🗓️ 6 March 2025
⏱️ 9 minutes
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0:00.0 | Like a lot of economists, Mark Zandi with Moody's analytics thinks President Trump's across-the-board |
0:06.1 | tariffs are a bad idea. |
0:07.5 | Broad-based tariffs are a real problem for the economy. |
0:10.6 | He told NPR that if all of Trump's tariffs stay in effect... |
0:14.2 | And those are, you know, some big ifs. |
0:15.7 | But if that happens, the typical American household will have to shell out $12 to $1,300 more a year to buy the same goods that they're buying now. |
0:24.6 | Treasury Secretary Scott Bassett said on CBS News's Face the Nation that those fears were alarmist. |
0:30.7 | We have the experience of President Trump's first term where the tariffs did not affect prices, |
0:41.5 | and it's a holistic approach that there will be tariffs, there will be cuts in regulation, there will be cheaper energy. But Zandi says it's not just |
0:47.0 | the tariffs themselves that are the problem, it's the uncertainty created by Trump's rollout. |
0:51.3 | So just to recap, Trump threatened 25% tariffs on Canada and Mexico |
0:56.3 | would start in February. They were paused at the 11th hour only to eventually go into effect |
1:01.4 | this week. And then on Thursday, Trump announced the new tariffs would be paused for most products, |
1:07.1 | but potentially only until April 2nd. Meanwhile, tariffs on China snapped into place in February and then doubled to 20%. |
1:15.1 | What happens next is anyone's guess. |
1:17.9 | And Zandi says that is bad for business. |
1:20.6 | You need some confidence in the rules of the road, and tariffs are a key rule. |
1:25.6 | And if you don't have that, you're not, I don't know that you cut. |
1:28.1 | I don't know that it means you fire people, but I think it does mean you sit on your hands. |
1:31.8 | And that is exactly where Randy Carr finds himself. |
1:35.3 | He runs a business based in Florida that makes embroidered patches, you know, like you'd see on a uniform or a baseball cap. |
1:41.2 | Customers range from Little League and Junior League sports, the military, workwear, like UPS |
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