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We’re told that tariffs are going to do all sorts of great things. Mark Thornton sets the record straight.
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Video Description
We’re told that tariffs are going to do all sorts of great things. Mark Thornton sets the record straight.
There are tariffs and then there is the threat of tariffs.
Remains to be seen if significant tariffs are actually applied or if Trump is using it as a stick to get what he wants.
True. I'll be surprised if he doesn't crank up some tariff rates, though. He did last time.
The problem is that he may be cranking them up as high as he says he might. That would put a crimp in any sort of trading. Who was it who said, “If you don’t have trade going over borders, you will soon have soldiers going over borders,” or something like that.
Because tariffs operate at the intersection of economics, politics, and global trade dynamics—fields that are inherently complex and sometimes contradictory.
I would very much go with inherently contradictory because at least politics and economics can work against each other very easily. I just wonder how much is bluster and bellowing and how much is real policy.
Is trade a separate field from econ?
You're right, though, that people recommend them for a variety of reasons.
That's a good question.
I think trade is a subfield of economics rather than a completely separate discipline.
Trade was one of my sub-fields.