Trump Tariffs and Trade Wars
Money Talking
English - July 07, 2017 04:00 - 7 minutes - 6.64 MB - ★★★★ - 87 ratingsBusiness News News Society & Culture new york business money talking wnyc public radio npr charlie Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
President Donald Trump has made it clear that he disagrees with many global trade deals.
He withdrew from the Trans Pacific Partnership almost as soon as he took office. He has repeatedly criticized and is now looking to withdraw or renegotiate NAFTA — the North American Free Trade Alliance. Trump argues that global trade deals hurt the U.S. economy and its workers.
This week, as he sits down with global leaders at the G20 summit in Germany, he’s also reportedly considering putting a tariff on steel imported to the U.S. These tariffs might also grow to include other imports, like aluminum and paper.
But in doing so, Trump could end up setting off a global trade war. Other countries might retaliate with their own tariffs on products coming from the United States.
This week on Money Talking, Host Charlie Herman talks with Rana Foroohar with the Financial Times and Rick Newman with Yahoo Finance about the unintended consequences of steel tariffs and the trickle-down effect on consumers.
As President Trump sits down with global leaders this week, he’s also reportedly considering slapping a tariff on steel imported into the US. Could this spark a global trade war?