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Trade Wars: Assessing Trump's Tariffs
In this episode of Discourse, host Wayne Unger delves into the intricacies of tariffs, focusing on President Trump's recent implementation of tariffs on a wide array of imports. The episode breaks down what tariffs are, how they function and their economic effects, especially in a globalized economy. Unger discusses the potential repercussions on financial markets, small businesses, and consumers, exploring the likelihood of an economic recession and the impact on industries such as automotive and grocery. The discussion also touches on the historical context of tariffs, references the Smoot-Hawley Act, and compares the current situation to past economic policies. Unger provides a nuanced analysis of the potential short-term pain and long-term goals, considering both the potential benefits and drawbacks of Trump's trade policies.
00:00 Introduction to Discourse
00:35 Today's Topic: Tariffs
01:49 Understanding Tariffs
06:12 Impact on Businesses and Consumers
19:08 Trump's Tariff Strategy
30:42 Historical Context and Economic Predictions
46:37 Potential Outcomes and Legislative Actions
53:19 Conclusion: The Risk and Legacy of Trump's Tariffs
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