Why does Trump love tariffs?

The Briefing Room

BBC

News, News Commentary

4.8 • 731 Ratings

🗓️ 9 January 2025

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

Donald Trump says he wants to introduce more tariffs on imports during his second presidency. He’s mentioned targeting imports from countries including Mexico, Canada, China and Demark as well as floating the idea of a universal tariff on all goods coming into the US.

So why does Trump like tariffs so much? What can we realistically expect him to do? And what would the effect be on the rest of us?

Archive clip included from Joe Rogan Experience podcast, Spotify, 25 October 2024.

Guests: Sam Lowe, Partner at Flint Global consultancy Meredith Crowley is a Professor of Economics at the University of Cambridge David Henig, Director of the UK Trade Policy Project Presenter: David Aaronovitch Producers: Charlotte McDonald, Kirsteen Knight and Beth Ashmead Latham Sound engineers: James Beard Editor: Richard Vadon Production Co-ordinator: Gemma Ashman

Transcript

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0:00.0	BBC Sounds, Music, Radio, podcasts.
0:09.3	Days before his re-inorganation, President-elect Donald Trump was ruminating in public
0:14.7	about all the things he would do to make America great again a second time around.
0:20.2	He'd annexed Greenland, rename the Gulf of Mexico,
0:23.6	and any country standing in his way
0:25.4	should expect to find its exports to the U.S. facing swinging tariffs.
0:31.0	This is what Trump said about tariffs during his victorious election campaign.
0:35.5	To me, the most beautiful word, and I've said this for the last couple of weeks,
0:39.4	in the dictionary today, is the word tariff.
0:43.2	It's more beautiful than love.
0:45.1	It's more beautiful than anything.
0:46.7	It's the most beautiful word.
0:48.9	This country can become rich
0:50.9	with the proper use of tariffs.
0:54.3	So why does he like tariffs so much?
0:57.1	What can we realistically expect him to do?
1:00.0	And what would the effect be on the rest of us?
1:02.9	Step into the briefing room and together we'll find out.
1:09.0	First, the basics.
1:10.5	Let's find out what exactly a tariff is and how they've been used in the past.
1:16.0	Here with me is Duncan Weldon, economist and author of 200 years of muddling through.
1:22.1	Duncan Weldon, what is a tariff?
	...

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