Why So Many Businesses Like Trump’s Promise of Tariffs

Leaders with Francine Lacqua

Bloomberg

Entrepreneurship, Careers, Management, Business

4.6 • 64 Ratings

🗓️ 26 October 2024

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this episode of Voternomics, we discuss former US President Donald Trump’s self-proclaimed favorite word: tariffs. While mainstream economists warn that hiking taxes on certain imports is bad for business, not everyone appears to be of the same mind. That became evident last week during Bloomberg News Editor-in-Chief John Micklethwait’s interview of Trump before the Economic Club of Chicago. The crowd’s enthusiastic reaction to the Republican presidential candidate’s talk of tariffs suggested that many of America’s Midwest businesspeople might take a different view.

Hosts Stephanie Flanders, Adrian Wooldridge and Allegra Stratton discuss the roots of Trump’s love of tariffs with Micklethwait himself and consider whether an “America First” approach could win short-term gains for some parts of the US economy, even if it undermines global trade and weakens America’s global standing in the long-term.

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1:01.8	Bloomberg Audio Studios. Podcasts, Radio News. We're going to bring the companies back.
1:16.6	We're going to lower taxes still further for companies that are going to make their product in the USA.
1:22.6	We're going to protect those companies with strong tariffs because I'm a believer in tariffs.
1:28.7	I'm not sure that you are. I don't think you are, but I congratulate you in your career.
1:33.8	But to me, the most beautiful word in the dictionary is tariff.
1:39.2	And it's my favorite word. It needs a public relations firm. Welcome back to Photonomics, where politics and
1:48.5	markets collide. This year, voters around the world have the ability to move markets, countries,
1:53.1	and economies like never before. So we created this series to help you make sense of it all.
1:58.3	I'm Stephanie Flanders, joining you this week from the Bloomberg New Economy Forum in South Paulo.
2:03.9	I'm Adrian Waldrich. And I'm Allegra Stratton and both Adrian and I are in the less glamorous London.
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