What's Trump's tariff hokey cokey all about?
Having vowed to 鈥榮tay the course鈥� on tariffs, Donald Trump has now issued a change that 鈥榗ame from the heart鈥�. Does Trump have a grand plan and, if so, what is it?
Rarely has it been so difficult to see the wood for the trees. The trees being Donald Trump鈥檚 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.
鈥嬧赌�
鈥嬧赌婽hat strategy seems to evolve on a daily basis. Having vowed to 鈥榮tay the course鈥� on tariffs earlier this week, yesterday saw Trump issue a change that 鈥榗ame from the heart鈥� - that change being a 90 day pause for everyone except China. It鈥檚 hard to keep up with the plot changes and in this programme we鈥檙e not going to try. Instead we鈥檙e going to step back and explore the origin鈥檚 of Trump鈥檚 love of tariffs, find out what history tells us about their effectiveness and we鈥檒l ask whether Trump does actually have a grand plan.
鈥嬧赌�
鈥嬧赌婭f 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
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The Briefing Room
David Aaronovitch presents in-depth explainers on big issues in the news.