What's Trump's tariff hokey cokey all about?

Rarely has it been so difficult to see the wood for the trees. The trees being Donald Trump’s new tariffs announced on what he called Liberation Day and which took effect this week, plus the immediate responses to them. And the wood being the economic strategy that lies behind it all. ​​ ​​That strategy seems to evolve on a daily basis. Having vowed to ‘stay the course’ on tariffs earlier this week, yesterday saw Trump issue a change that ‘came from the heart’ - that change being a 90 day pause for everyone except China. It’s hard to keep up with the plot changes and in this programme we’re not going to try. Instead we’re going to step back and explore the origin’s of Trump’s love of tariffs, find out what history tells us about their effectiveness and we’ll ask whether Trump does actually have a grand plan. ​​ ​​If he does, what is it and can it succeed?

Guests:

Douglas Irwin, professor of economics at Dartmouth College in New Hampshire Meredith Crowley, Professor of Economics the University of Cambridge Duncan Weldon, economist and author of "Two Hundred Years of Muddling Through" Mehreen Khan, economics editor of The Times

Presenter: David Aaronovitch Producers: Ben Carter, Kirsteen Knight and Beth Ashmead Latham Sound engineers: James Beard Production Coordinator: Katie Morrison Editor: Richard Vadon