Money For the Rest of Us9 Apr 2025

Is This the End of Globalization and Free Trade?

What will the impact be now that the U.S. has one of the highest tariff rates in the world?

Topics covered include:

Why the Trump administration raised tariffs
How the last round of U.S. tariffs led to higher prices and lower economic growth
Four ways the world remains close to record connectivity
Who have been the winners and losers from global trade
What will be the impact of this trade war

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Show Notes

The economic consequences of Mr Trump – looking for clarity in the tariffs chaos by Neil Shearing—Capital Economics

Tariff rate, most favored nation, simple mean, all products (%)—World Bank Group

Donald Trump’s tariffs will fix a broken system by Peter Navarro—The Financial Times

DHL Global Connectedness Tracker—DHL

Objective Knowledge: An Evolutionary Approach by Karl R. Popper—Oxford University Press

GDP per capita (constant 2015 US$)—World Bank Group

JOSEPH E. STIGLITZ, GLOBALIZATION AND ITS DISCONTENTS REVISITED: ANTI-GLOBALIZATION IN THE ERA OF TRUMP, NEW YORK: W.W. NORTON & COMPANY, 2018 by Lino Sau—Annals of the Fondazione Luigi Einaudi

FIFTY YEARS OF GROWTH IN AMERICAN CONSUMPTION, INCOME, AND

WAGES by Bruce Sacerdote—National Bureau of Economic Research

Real Median Household Income in the United States—FRED

Employed full time: Median usual weekly real earnings: Wage and salary workers: 16 years and over—FRED

Consumer Price Index for All Urban Consumers: Food in U.S. City Average/Median Household Income in the United States—FRED

Trump’s Love for Tariffs Began in Japan’s ’80s Boom By Jim Tankersley and Mark Landler—The New York Times

Related Episodes

515: Tariffs and the Mar-a-Lago Accord: What Trump Really Wants

516: What Trump Wants Part 2 – How Trade Deficits and Capital Flows Can Harm or Help Countries

427: Did the Tariffs Work? The Trade War Five Years Later

212: Trade Wars Increase Prices and Poverty

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