{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Keen On America","title":"Episode 2524: Martin Wolf on whether Trump's tariffs are as dumb as they seem","html":"","width":"100%","height":180,"duration":1238,"description":"There are few more respected economic analysts in the world than the Financial Times Chief Economic Commentator Martin Wolf. Yesterday, we ran a conversation with Wolf about the survival of American democracy. Today, we talk Trumpian economics, particularly tariff policy. Wolf characterizes Trump's trade policies as historically unprecedented in their scale, comprehensive nature, and unpredictability. But are they “dumb”, I asked? He acknowledges genuine issues driving tariff policy like global imbalances and deindustrialization but believes the current approach won't solve these problems. Wolf explains that the US-China trade war is causing significant economic disruption, with prohibitive tariffs likely stopping trade between the world’s two dominant economies. He warns that investor confidence is damaged by unpredictability, which will take years to restore, and questions the wisdom of dismantling America's alliance system. Dumb, dumb and dumber. Five Key Takeaways* Trump's tariff policies are unprecedented in economic history for their scale, comprehensive nature affecting most of the world, and extraordinary unpredictability.* There are legitimate economic problems regarding global imbalances and deindustrialization, but Wolf believes the current approach won't solve these issues and may worsen them.* The economic consequences include potential slowdowns in US retail sales, reduced profits for retailers, job losses, and decreased manufacturing investment due to uncertainty.* Investor confidence is severely damaged by unpredictability, with concerns about US government stability reflected in Treasury markets, and this uncertainty could take \"a decade or two\" to fully dissipate.* Wolf compares the current US withdrawal from global leadership to America's post-WWI rejection of the League of Nations, calling it \"strikingly willful\" and potentially destabilizing for the global order. Full TranscriptAndrew...","thumbnail_url":"https://img.transistorcdn.com/bCpvkYgrorWYCv4ujOodZ7o-xqCKvQH-YHlEI5E7zpw/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS83NDM2/MGJjOTYyNjBkYzJi/ZDVhMTUwZDgwMWE3/ZDk3OS5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}