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A Sixth of Humanity: Independent India's Development Odyssey is a landmark new book by the scholars Devesh Kapur and Arvind Subramanian.The book is an audacious attempt to trace how India—uniquely and daringly—attempted four concurrent transformations—building a state, creating an economy, changing society, and forging a sense of nationhood under conditions of universal suffrage.It is the joint product of one of India's most respected political scientists and one of its best known economists. The book includes insights from politics, economics, history, and literature and provides a developmental history of India that is big, bold, engaging, and utterly unique.To talk more about their book and the lessons it holds for India's next 75 years, Arvind and Devesh return to Grand Tamasha to speak with Milan.Devesh Kapur is the Starr Foundation professor of South Asia Studies at Johns Hopkins University School of Advanced International Studies.Arvind Subramanian is senior fellow at the Peterson Institute for International Economics, in Washington, DC. He previously served as former chief economic adviser to the government of India.The trio discuss the vision for the book, India's checkered history of upholding the rule of law, and what we get wrong about India's tryst with central planning. Plus, they discuss India's stellar record as an export powerhouse, the long shadow of vested interests, the pressures on India's model of fiscal federalism, and ongoing challenges with nation-building.Watch the video version of this episode here.Episode notes:1. Arvind Subramanian, “Can India reverse its manufacturing failure?” Financial Times, November 10, 2024.2. Josh Felman and Arvind Subramanian, “Is India Really the Next China?” Foreign Policy, April 8, 2024.3. “The Future of India's Fiscal Federalism (with Arvind Subramanian),” Grand Tamasha, October 16, 2024.4. Amit Ahuja and Devesh Kapur, eds., Internal Security in India: Violence, Order, and the State (New York: Oxford University Press, 2023).5. “Opening the Black Box of India's Internal Security State (with Amit Ahuja and Devesh Kapur),” Grand Tamasha, May 10, 2023.6. Devesh Kapur, “Why Does the Indian State Both Fail and Succeed?” Journal of Economic Perspectives 34, no. 1 (Winter 2020): 31-54.7. Rohit Lamba and Arvind Subramanian, “Dynamism with Incommensurate Development: The Distinctive Indian Model,” Journal of Economic Perspectives 34, no. 1 (Winter 2020): 3-30.8. Yamini Aiyar, “New GST regime: A grand bargain reduced to imperfect compromise,” Hindustan Times, October 7, 2025.9. “A Blueprint for India's State Capacity Revolution (with Karthik Muralidharan),” Grand Tamasha, May 23, 2024.
Vil de, eller vil de ikke? Omverdenen ser bekymret på, at USA og Kina er ved at gøre klar til en ny barsk runde i de to landes handelskrig. USA vil bremse Kinas adgang til teknologi som computerchips. Kina har begrænset eksporten af sjældne jordarter, som bruges i alt fra elbiler til våben. Så ender det med strid og skyhøje toldsatser? Og hvad betyder det for parterne - og os andre. Eller er et kompromis stadig muligt? Deltagere: Philip Roin, DR's korrespondent i Kina, seniorforsker i økonomi ved Peterson Institute og Bruegel, Jacob Funk Kirkegaard, og chefstrateg hos Nykredit, Frederik Engholm. Vært: Jakob Vinde Larsen.
An issue that's been top of mind in Greece for some time now is the demographic crisis. This isn't unique to Greece, however, as it's a problem most of Europe is also looking for answers to. Jacob Funk Kirkegaard, a Senior Fellow at Bruegel and a non-resident Senior Fellow with the Peterson Institute for International Economics, joins Thanos Davelis as we look at how an aging population is challenging Europe, and why migration remains an important part of the equation. You can read the articles we discuss on our podcast here:The macroeconomic impact of ageing, EU immigration policy and pension expendituresMitsotakis calls for united European defense, energy strategy at MED9 summitErdogan heads to Gulf as Turkey looks to ease energy dependence on Russia
The Trump administration authorized a $20 billion financial lifeline for Argentina as it faces an economic crisis. The deal has raised major questions and criticism about its merits. President Trump also said it’s contingent on Argentine President Milei’s party winning elections later this month. John Yang discussed more with Monica de Bolle of the Peterson Institute for International Economics. PBS News is supported by - https://www.pbs.org/newshour/about/funders. Hosted on Acast. See acast.com/privacy
The Trump administration authorized a $20 billion financial lifeline for Argentina as it faces an economic crisis. The deal has raised major questions and criticism about its merits. President Trump also said it’s contingent on Argentine President Milei’s party winning elections later this month. John Yang discussed more with Monica de Bolle of the Peterson Institute for International Economics. PBS News is supported by - https://www.pbs.org/newshour/about/funders. Hosted on Acast. See acast.com/privacy
The Trump administration authorized a $20 billion financial lifeline for Argentina as it faces an economic crisis. The deal has raised major questions and criticism about its merits. President Trump also said it’s contingent on Argentine President Milei’s party winning elections later this month. John Yang discussed more with Monica de Bolle of the Peterson Institute for International Economics. PBS News is supported by - https://www.pbs.org/newshour/about/funders. Hosted on Acast. See acast.com/privacy
Maurice Obstfeld, Senior Fellow at the Peterson Institute for International Economics & Professor of Economics at UC Berkeley, discusses why tariffs should not be relied on as a long-term revenue tool. He speaks with hosts Tom Keene and Paul Sweeney.See omnystudio.com/listener for privacy information.
A fascinating new book called A Sixth of Humanity, Independent India's Development Odyssey examines 75 years of development in the world's most populous country – the successes and failures, the compromises, and the ways in which India has defied many of our ideas of how development should happen. The authors are Devesh Kapur of Johns Hopkins University School of Advanced International Studies, and Arvind Subramanian of the Peterson Institute, also of course formerly Chief Economic Advisor to the Government of India. They speak to Tim Phillips about what Indian politicians and policymakers around the world can learn from India's economic transformation. The book is called A Sixth of Humanity: Independent India's Development Odyssey. It is published by HarperCollins India. https://harpercollins.co.in/product/a-sixth-of-humanity/
In a new article in Foreign Affairs, 'The New Economic Geography: Who Profits in a Post-American World?,' Adam Posen, the President of the Peterson Institute for International Economics, argues that the policies and institutions the US has helped put in place over the past eight decades have not only bolstered its own economic fortunes, but have helped much of the world thrive. Adam joins EconoFact Chats to discuss the article, and point out how the Trump administration's pursuit of an America first policy could render the US, and much of the world, less economically stable. He also discusses who might benefit from America's retreat from global leadership.
Cecilia Malmström är statsvetare och har arbetat som svensk riksdagspolitiker, EU-minister, Europaparlamentariker och från 2010 till 2019 var hon EU:s handelskommissionär [1]. Idag delar hon sin arbetstid mellan det amerikanska Peterson Institute for International Economics, Handelshögskolan vid Göteborgs universitet och Lindholmen Science Park. Vi har pratat med Cecilia om varutullar, internationell handelspolitik, EU:s omvärldsberoende och […] Inlägget omEV Podd #94 Cecilia Malmström om tullar, handelspolitik och fordonsindustri dök först upp på omEV.
In Episode 441 of Hidden Forces, Demetri Kofinas speaks with Adam Posen, president of the Peterson Institute for International Economics, about the profound transformations underway in the global economy driven by America's transition away from being the world's primary insurance provider for international security to its most enterprising racketeer. In a recently published Foreign Affairs essay titled “The New Economic Geography: Who Profits in a Post-American World?” Adam compares America's role in the post-World War II era to that of an insurance provider, underwriting global security by protecting international shipping lanes, providing deep and liquid capital markets, and enforcing international laws and standards that have formed the bedrock of the last 80 years of economic growth and prosperity. Kofinas and Posen spend the first hour of this episode digging into Adam's insurance framework and why he believes the United States was the largest beneficiary of the system it created. They discuss some of the recent policy changes out of Washington and why they are transforming America's sphere of influence into something that looks more like a protection racket than a market for affordable insurance. Adam Posen draws implications for the continued role of US Treasuries as a global safe asset and whether a reduction of foreign capital flows into dollars will ultimately prove stimulative for the resurrection of industrial ecosystems that the administration has identified as vital to American national security and the long-term prosperity of the United States. The two also consider the degree to which the increased premiums that Washington is now charging its allies can be justified by rising risks in the international security environment and by the unpopularity among the MAGA base for foreign U.S. involvement. The second hour of their conversation turns to questions of execution—specifically, what is required for the successful implementation of a U.S. industrial policy. This includes a discussion about apprenticeships, skilled immigration, government-supported R&D, federal funding for university science and technology programs, and more integration and collaboration with allied economies. Posen and Kofinas also discuss why the use of tariffs, subsidies, and export controls—including the CHIPS and Science Act—implemented during both Joe Biden's and Donald Trump's administrations have underdelivered. They also examine why the current administration's trade policies have been oddly more accommodative toward China than toward America's closest allies and why this will ultimately prove to be a losing strategy in the long-term. Lastly, Demetri asks Adam for his view on what the recent battles between the Fed and the White House mean for the future of Fed independence and if Washington is laying the groundwork for a long-term rise in inflation expectations as it seeks to monetize its debt and deficits through an increasingly compliant and captured central bank. Subscribe to our premium content—including our premium feed, episode transcripts, and Intelligence Reports—by visiting HiddenForces.io/subscribe. If you'd like to join the conversation and become a member of the Hidden Forces Genius community—with benefits like Q&A calls with guests, exclusive research and analysis, in-person events, and dinners—you can also sign up on our subscriber page at HiddenForces.io/subscribe. If you enjoyed today's episode of Hidden Forces, please support the show by: Subscribing on Apple Podcasts, YouTube, Spotify, Stitcher, SoundCloud, CastBox, or via our RSS Feed Writing us a review on Apple Podcasts & Spotify Joining our mailing list at https://hiddenforces.io/newsletter/ Producer & Host: Demetri Kofinas Editor & Engineer: Stylianos Nicolaou Subscribe and support the podcast at https://hiddenforces.io. Join the conversation on Facebook, Instagram, and Twitter at @hiddenforcespod Follow Demetri on Twitter at @Kofinas Episode Recorded on 09/16/2025
We have seen the turmoil and chaos that the Trump Administration's tariffs have caused over recent weeks and months. Since President Trump's trade announcements, countries have been rushing to make new trade agreements, find new markets for their exports, as well as prepare for possible trade wars. In her address to the IIEA, Cecilia Malmström discusses the effect that US trade policy has had on Europe and the wider world. She also explores the impact US tariffs will have on how other countries will conduct trade in the future. About the Speaker: Cecilia Malmström served as European Commissioner for Trade from 2014 to 2019, and as European Commissioner for Home Affairs from 2010 to 2014. She was a member of the European Parliament from 1999 until 2006. She was also Minister for EU Affairs in the Swedish Government from 2006 to 2010. As European commissioner for Trade, Ms Malmström represented the European Union in the World Trade Organisation (WTO) and other international trade bodies. In this role, she was responsible for negotiating bilateral trade agreements with key countries, including agreements with Canada, Japan, Mexico, Singapore, Vietnam, and the four founding Mercosur countries. Ms Malmström joined the Peterson Institute for International Economics (PIIE) as non-resident Senior Fellow in June 2021 and hosts the PIIE's Trade Winds, a biweekly virtual event series. She is also a visiting Professor at the School of Business, Economics and Law at the University of Gothenburg. She holds a PhD in Political Science from the University of Gothenburg.
Trump's economic policies have caused chaos globally and he's made it clear he's happy to use America's financial might against his enemies – or help his friends. But, when it comes to security, who is this actually helping? In the latest episode of This Is Not A Drill – we ask,how do tariffs and inflation in the US impact global security? Emma Beals is joined by Adam Posen, the president of the Peterson Institute for International Economics. Read Adam Posen's Foreign Affairs article ‘The New Economic Geography' here. • This episode of This Is Not A Drill is supported by Incogni the service that keeps your private information safe, protects you from identity theft and keeps your data from being sold. There's a special offer for This Is Not A Drill listeners – go to https://incogni.com/notadrill to get an exclusive 60% off your annual plan. • Support us on Patreon to keep This Is Not A Drill producing thought-provoking podcasts like this. Written and presented by Emma Beals. Produced by Robin Leeburn. Original theme music by Paul Hartnoll – https://www.orbitalofficial.com. Executive Producer Martin Bojtos. Managing Editor Jacob Jarvis. Group Editor Andrew Harrison. This Is Not A Drill is a Podmasters production. Learn more about your ad choices. Visit podcastchoices.com/adchoices
On this episode, Nathan Goodman is joined by Michael Clemens to discuss why immigration policy matters not just for migrants themselves but for broader economic growth. Drawing on his influential work, including “Economics and Emigration: Trillion-Dollar Bills on the Sidewalk?” (JEP, 2011) and “The Place Premium: Bounding the Price Equivalent of Migration Barriers” (REStat, 2019), Clemens explains how even modest liberalization of migration can create enormous gains, why exchange is positive-sum, and how complementary skills across the workforce drive production. Together they assess the claim that immigration undermines culture and institutions and revisit historical panics ranging from the Chinese Exclusion Act to the Dillingham Commission. Dr. Michael Clemens is a professor in the Department of Economics at George Mason University and a Non-Resident Senior Fellow at the Peterson Institute for International Economics. He helped build the research program on international migration at the Center for Global Development. Show Notes: Samuel Bazzi, et al., “The Confederate Diaspora” (NBER, 2025) Timur Kuran's book, Freedoms Delayed: Political Legacies of Islamic Law in the Middle East (Cambridge University Press, 2023) Chloe N. East, et al., “The Labor Market Effects of Immigration Enforcement” (Journal of Labor Economics, 2023)Mexican Migration projectIf you like the show, please subscribe, leave a 5-star review, and tell others about the show! We're available on Apple Podcasts, Spotify, Amazon Music, and wherever you get your podcasts.Virtual Sentiments, a podcast series from the Hayek Program, is streaming. Subscribe today and listen to season three, releasing now!Follow the Hayek Program on Twitter: @HayekProgramLearn more about Academic & Student ProgramsFollow the Mercatus Center on Twitter: @mercatusCC Music: Twisterium
In this episode Dominic Bowen and Professor Kimberly Clausing examine the return of tariffs to the centre of U.S. economic strategy and the risks this shift creates for the global economy. Find out more about how protectionism and populism are reshaping U.S. trade policy, why tariffs act as a hidden tax on consumers and small businesses, the political dynamics driving short-term wins over long-term stability, the impact on supply chains and export industries such as higher education, tourism, and technology, the risks of corruption and rent-seeking in tariff exemptions, and how international trust in the United States is being tested as allies confront unpredictable economic behaviour, and more.Professor Kimberly Clausing holds the Eric M. Zolt Chair in Tax Law and Policy at the UCLA School of Law. Professor Clausing is also a nonresident senior fellow at the Peterson Institute for International Economics, a member of the Council on Foreign Relations, and a research associate at the National Bureau of Economic Research. During the first part of the Biden Administration, Clausing was the Deputy Assistant Secretary for Tax Analysis in the US Department of the Treasury, serving as the lead economist in the Office of Tax Policy. Professor Clausing has published widely on taxation, climate policy, and international trade, and is the author of Open: The Progressive Case for Free Trade, Immigration, and Global Capital (Harvard University Press, 2019). International Monetary Fund, the Hamilton Project, the Brookings Institution, the Tax Policy Center, and the Center for American Progress and has testified before the U.S. Congress on multiple occasions. She has received two Fulbright Research Awards, and her research has been supported by the National Science Foundation, the Smith Richardson Foundation, the International Centre for Tax and Development, the U.S. Bureau of Economic Analysis, and the Washington Center for Equitable Growth.The International Risk Podcast brings you conversations with global experts, frontline practitioners, and senior decision-makers who are shaping how we understand and respond to international risk. From geopolitical volatility and organised crime, to cybersecurity threats and hybrid warfare, each episode explores the forces transforming our world and what smart leaders must do to navigate them. Whether you're a board member, policymaker, or risk professional, The International Risk Podcast delivers actionable insights, sharp analysis, and real-world stories that matter. The International Risk Podcast – Reducing risk by increasing knowledge.Follow us on LinkedIn and Subscribe for all our updates!Tell us what you liked!
When the EU and US hit Russia with fresh sanctions in 2022, many analysts expected the country's economy to crack. Instead, Russia has shown strong GDP growth, powered in large part by a massive boost to war-related industries. Now, the effects of that boost appear to be fading. Have western sanctions finally started to bite? What would happen to Russia's economy if the Ukraine war were to end? And how difficult might it be for the country's economy to return to normal? To find out, the FT's economics editor Sam Fleming speaks to Elina Ribakova. Elina is a non-resident senior fellow at the Peterson Institute for International Economics, a non-resident fellow at Brussels think-tank Bruegel and vice-president for foreign policy at the Kyiv School of Economics.Sam Fleming is the FT's economics editor. You can find his articles here: https://www.ft.com/sam-flemingWant more? Free links:Russia moves to contain concern over banks' bad loan exposureVladimir Putin's war economy is cooling, but Russians still feel richerRussia's central bank speeds up rate cuts as war economy coolsThere's no money to be made in RussiaThe FT Weekend Festival returns for its 10th edition on Saturday, September 6 at Kenwood House Gardens in London. Get details and tickets hereSubscribe to The Economics Show on Apple, Spotify, Pocket Casts or wherever you listen. Presented by Sam Fleming. Produced by Mischa Frankl-Duval. Flo Phillips is the executive producer. Manuela Saragosa is the FT's acting co-head of audio. Original music from Breen Turner, and sound design by Breen Turner & Sam Giovinco.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
Today, we're sharing an episode from our fellow FT podcast, Swamp Notes.The US president is angry with the chair of the Federal Reserve over interest rates. He's applying a lot of pressure on Jay Powell to lower them or leave his job. The FT's Claire Jones and Adam Posen, president of the Peterson Institute for International Economics, break down what will happen if Trump succeeds in either of those goals.This episode originally aired on July 26.Subscribe to Swamp Notes on Acast, Apple Podcasts, Spotify, Pocket Casts or wherever you get your podcasts.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
This weekend, we're sharing an episode from our fellow FT podcast, Swamp Notes. The US president is angry with the chair of the Federal Reserve over interest rates. He's applying a lot of pressure on Jay Powell to lower them or leave his job. The FT's Claire Jones and Adam Posen, president of the Peterson Institute for International Economics, break down what will happen if Trump succeeds in either of those goals.Subscribe to Swamp Notes on Acast, Apple Podcasts, Spotify, Pocket Casts or wherever you get your podcasts. Hosted on Acast. See acast.com/privacy for more information.
In the early 20th century Argentina was one of the world's richest countries. For most of the past 50 years, it has been an economic disaster. But after nine debt defaults, 23 IMF programmes and two years of triple-digit annual inflation, the country's radical libertarian president, Javier Milei, has steadied the ship. How has Milei revitalised the economy? Can he persuade investors to trust Argentina again? And, most crucially, can his transformation last? The FT's Latin America editor, Michael Stott, discusses with Alejandro Werner, former head of the IMF's western hemisphere department, founding director of the Georgetown Americas Institute, and fellow of the Peterson Institute for International EconomicsClips: Sky Australia, Javier Milei via Storyful/ELPELUCAMILEI, Global News, Poder360Want more? Free links:Javier Milei's risky bet on a potent pesoTory leader Kemi Badenoch says she is Britain's Javier MileiJavier Milei lowers Argentina's monthly inflation below 2% for first time since 2020Michael Stott is the FT's Latin America editor. You can find his articles here: https://www.ft.com/michael-stott Subscribe to The Economics Show on Apple, Spotify, Pocket Casts or wherever you listen. Presented by Michael Stott. Produced by Mischa Frankl-Duval. Flo Phillips is the executive producer. Manuela Saragosa is the FT's acting co-head of audio. Original music and sound design by Breen Turner.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
EU er gået med til en told på 15 procent på europæiske varer, der importeres til USA. Donald Trump kalder det for en stor aftale, men hvem er vinderen, og hvem er taberen? Føjer EU den amerikanske præsident? Burde EU svare tilbage med en tilsvarende told? Eller giver den her aftale erhvervslivet ro? Du kan blande dig i debatten ved at ringe ind fra 12:15-13:30 på 70 21 19 19 eller send en sms til 1212. Medvirkende: Ulrik Bie, Økonomisk redaktør Berlingske Jens Klarskov, Seniorrådgiver i Rud Petersen - tidl. direktør i Dansk Erhverv og Dansk Byggeri Anna Libak, udlandsredaktør på Weekendavisen Rasmus Grand Berthelsen, Senior Director hos Rasmussen Global og ekstern lektor på CBS Jacob Funk Kirkegaard, seniorforsker ved den amerikanske økonomiske tænketank Peterson Institute og den belgiske økonomiske tænketank Bruegel. Ditte Brasso, Senioranalytiker, Tænketanken Europa Vært: Mathias Pedersen Tilrettelæggere: Clara Faust Spies & Sebastian Lund Producer: Sebastian Lund
European countries have committed to higher defence spending to face down Russian aggression. But preparing for war isn't cheap – and in many countries, budgets are already stretched. How will European members of Nato hit their defence targets, a hefty 5% of GDP? Will EU states look beyond their own national champions, and commit to greater co-operation on defence funding and purchases? And what kind of new institutions would be necessary to make that happen? To find out, Sam Fleming speaks to Jeromin Zettelmeyer. He is the director of the Brussels-based think tank, Bruegel, and has previously held senior roles at the IMF, the Peterson Institute, and in the German Ministry for Economic Affairs and Energy. Clips: BBC, Bloomberg Television, European Commission, French Armed ForcesSam Fleming is the FT's economics editor. You can find his articles here: https://www.ft.com/sam-flemingSubscribe to The Economics Show on Apple, Spotify, Pocket Casts or wherever you listen. Presented by Sam Fleming. Produced by Mischa Frankl-Duval. Flo Phillips is the executive producer. Manuela Saragosa is the FT's acting co-head of audio. Original music from Breen Turner, and sound design by Breen Turner & Sam Giovinco.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
Today we talk with Cullen Hendrix, Senior Fellow at the Peterson Institute for International Economics, about the impact of tariffs on musical instruments. A trained political scientist as well as having a background as a touring musician, Hendrix has a really distinctive lens in which to view the tariff news. We talk about how tariffs on Chinese imports could stifle the next generation of musicians, the potential consequences for the used instrument market, and the effects on American culture as a whole. News! The Velvet Sundown is an AI band after all, with its music created on Suno, confesses a spokesperson AI in disguise? Music lovers angry at Spotify for promoting an allegedly fake band Can the music industry make AI the next Napster? Cloudflare launches a marketplace that lets websites charge AI bots for scraping The Music Tectonics podcast goes beneath the surface of the music industry to explore how technology is changing the way business gets done. Visit musictectonics.com to find shownotes and a transcript for this episode, and find us on LinkedIn, Twitter, and Instagram. Let us know what you think! Get Dmitri's Rock Paper Scanner newsletter.
U.S. President Donald Trump famously tweeted during his first term, “Trade wars are good, and easy to win.” But the record of the trade war that Trump started with his so-called Liberation Day tariffs in early April suggests that things are a bit more complicated. In an essay for Foreign Affairs appropriately titled, “Trade Wars Are Easy to Lose,” the economist Adam Posen argues that the United States has a weaker hand than the Trump administration believes. That's especially true when it comes to China, the world's second-largest economy and perhaps the real target of Trump's trade offensive. “It is China that has escalation dominance in this trade war,” Posen writes. “Washington, not Beijing, is betting all in on a losing hand.” Dan Kurtz-Phelan spoke to Posen, who is president of the Peterson Institute for International Economics, on June 9 about the short- and long-term effects of Trump's tariffs and the economic uncertainty they've caused, about what it would take to constructively remake the global economy, and about the growing risks to the United States' economic position at an especially dangerous time. You can find sources, transcripts, and more episodes of The Foreign Affairs Interview at https://www.foreignaffairs.com/podcasts/foreign-affairs-interview.
Storbritannien og EU nærmer sig igen hinanden. Fem år efter, at briterne forlod Den Europæiske Union, er de "tilbage i Verden" og i Europa, erklærede premierminister Starmer i sidste uge efter det første britisk-europæiske topmøde siden Brexit. Selv om et flertal af briterne i dag begræder deres lands udtræden af EU, er det ikke fordi, det nu skal være medlem igen, men hvad rummer den første nye aftale om et tættere samarbejde så? Hvordan vil den forme det vigtige forhold mellem briterne og EU i de kommende år, og hvor vil det historiske farvel til Europa i 2020 sætte sine grænser for samarbejdet? Deltagere: Jacob Funk Kirkegaard - Seniorforsker i økonomi ved Peterson Institute i Washington og ved tænketanken Bruegel i Bruxelles. Michael Zilmer-Johns - Danmarks tidl. NATO-ambassadør. Tinne Hjersing Knudsen - Vært på TV Avisen og DR's tidligere korrespondent i Storbritannien. Vært: Steen Nørskov.
The Chinese Communist Party's complex and contradictory embrace of capitalism has played a pivotal role in shaping China's economic reforms since the late 1970s. The Bird and the Cage: China's Economic Contradictions (Palgrave MacMillan, 2025) explores the persistent tensions between state control and market forces in China. It shows how these tensions provide a framework to understand Xi Jinping's recent efforts to tighten control over the Chinese economy. It also evaluates the broader implications of these policies for China's economic trajectory and its global trade relationships. Nicholas Borst is vice president and director of China research at Seafarer Capital Partners, and a member of the seventh cohort of the Public Intellectuals Program of the National Committee on US-China Relations. Prior to joining Seafarer, he was a senior analyst at the Federal Reserve Bank of San Francisco covering financial and economic developments in Greater China. Previously, Mr. Borst was the China program manager and a research associate at the Peterson Institute for International Economics. He also worked as an analyst at the World Bank, reviewing Chinese overseas investment projects. He was the founder and editor of the Peterson Institute's China Economic Watch blog, the co-founder of the Federal Reserve's Pacific Exchanges blog and podcast, and the founder of Seafarer's Prevailing Winds blog. His research and commentary have been featured in the Financial Times, The Wall Street Journal, The Economist, Bloomberg, The Wire China, and South China Morning Post. He has testified before the U.S.-China Economic and Security Review Commission on two occasions. Mr. Borst holds a B.A. in political science and international studies from the University of Arizona. He holds a certificate in Chinese studies from The Johns Hopkins University – Nanjing University Center and a master's degree in international relations and economics from the Johns Hopkins University School of Advanced International Studies. He is a CFA charterholder and a member of the CFA Institute. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network
The Chinese Communist Party's complex and contradictory embrace of capitalism has played a pivotal role in shaping China's economic reforms since the late 1970s. The Bird and the Cage: China's Economic Contradictions (Palgrave MacMillan, 2025) explores the persistent tensions between state control and market forces in China. It shows how these tensions provide a framework to understand Xi Jinping's recent efforts to tighten control over the Chinese economy. It also evaluates the broader implications of these policies for China's economic trajectory and its global trade relationships. Nicholas Borst is vice president and director of China research at Seafarer Capital Partners, and a member of the seventh cohort of the Public Intellectuals Program of the National Committee on US-China Relations. Prior to joining Seafarer, he was a senior analyst at the Federal Reserve Bank of San Francisco covering financial and economic developments in Greater China. Previously, Mr. Borst was the China program manager and a research associate at the Peterson Institute for International Economics. He also worked as an analyst at the World Bank, reviewing Chinese overseas investment projects. He was the founder and editor of the Peterson Institute's China Economic Watch blog, the co-founder of the Federal Reserve's Pacific Exchanges blog and podcast, and the founder of Seafarer's Prevailing Winds blog. His research and commentary have been featured in the Financial Times, The Wall Street Journal, The Economist, Bloomberg, The Wire China, and South China Morning Post. He has testified before the U.S.-China Economic and Security Review Commission on two occasions. Mr. Borst holds a B.A. in political science and international studies from the University of Arizona. He holds a certificate in Chinese studies from The Johns Hopkins University – Nanjing University Center and a master's degree in international relations and economics from the Johns Hopkins University School of Advanced International Studies. He is a CFA charterholder and a member of the CFA Institute. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/east-asian-studies
The Chinese Communist Party's complex and contradictory embrace of capitalism has played a pivotal role in shaping China's economic reforms since the late 1970s. The Bird and the Cage: China's Economic Contradictions (Palgrave MacMillan, 2025) explores the persistent tensions between state control and market forces in China. It shows how these tensions provide a framework to understand Xi Jinping's recent efforts to tighten control over the Chinese economy. It also evaluates the broader implications of these policies for China's economic trajectory and its global trade relationships. Nicholas Borst is vice president and director of China research at Seafarer Capital Partners, and a member of the seventh cohort of the Public Intellectuals Program of the National Committee on US-China Relations. Prior to joining Seafarer, he was a senior analyst at the Federal Reserve Bank of San Francisco covering financial and economic developments in Greater China. Previously, Mr. Borst was the China program manager and a research associate at the Peterson Institute for International Economics. He also worked as an analyst at the World Bank, reviewing Chinese overseas investment projects. He was the founder and editor of the Peterson Institute's China Economic Watch blog, the co-founder of the Federal Reserve's Pacific Exchanges blog and podcast, and the founder of Seafarer's Prevailing Winds blog. His research and commentary have been featured in the Financial Times, The Wall Street Journal, The Economist, Bloomberg, The Wire China, and South China Morning Post. He has testified before the U.S.-China Economic and Security Review Commission on two occasions. Mr. Borst holds a B.A. in political science and international studies from the University of Arizona. He holds a certificate in Chinese studies from The Johns Hopkins University – Nanjing University Center and a master's degree in international relations and economics from the Johns Hopkins University School of Advanced International Studies. He is a CFA charterholder and a member of the CFA Institute. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/chinese-studies
U.S. Tariffs are hurting China Exports from China have dropped dramatically which has weighed on China's economy. This has caused protests due to lost jobs and wages in their economy. Exports from China to the United States dropped 20% in April, but China did pick up exports from other countries like Indonesia, Thailand and Africa. While this may help a little, the export dollars for China to these other countries pales in comparison to the mighty consumption of the US consumer. China's economy depends on exports considering the fact that in 2024 1/3 of GDP growth came from exports. The Chinese government is panicking a little bit with the central bank in China saying it would cut interest rates and inject more liquidity into the financial system. Some factories in China are pausing their production and laying off workers until things pick up again. Goldman Sachs estimates that roughly 16,000,000 jobs in China come from exports to the United States. With the news that tariffs are being lowered for 90 days it will be interesting to see how companies and these countries react. The US will still have a 30% tariff on many Chinese products, but that is much more manageable than the 145% that was in effect. It is important to remember this is a pause and that rhetoric could pick back up as negotiations continue. I do believe a reescalation in the trade war would really hurt the Chinese economy more than ours and I'm optimistic we will see a trade deal reached, but it will likely take time. I believe it is worth waiting for as a better trade agreement will benefit us for decades down the road. Inflation continues to cool The headline Consumer Price Index (CPI) for the month of April came in at a 12-month rate of 2.3%, which was below the estimate of 2.4% and marked the lowest reading since February 2021. Core CPI, which excludes food and energy, came in at 2.8% which matched expectations and was in line with March's reading. Energy was a major help to the headline number as it fell 3.7% compared to last year with gasoline in particular down 11.8% over that timeframe. While this is all great many economists are worried about what the next few months will look like on the inflation front due to tariffs. Joseph Gagnon from the Peterson Institute for International Economics said he believes a 10% average tariff rate would add as much as 1 percentage point to the CPI after about six to nine months. While I would agree with the idea that inflation will likely increase in the months ahead, I still don't believe it will be to a problematic level for two reasons. First, we should remember there are several players that can absorb the costs from these tariffs. You have to consider the companies importing products can reduce their margin, there would be shipping/transportation companies that can reduce their costs, the company's manufacturing products can lower their prices, and then yes, the consumer is the last piece of the puzzle that could now have higher prices. With all that said I don't believe a 10% tariff would result in a 10% increase in prices due to all the places in the supply chain that can absorb some of the cost. The second reason I wouldn't be overly concerned is I wouldn't see the tariff as embedded inflation and it could likely be viewed as a one-time lift to prices that would then be lapped next year. Nonetheless this story will be interesting to monitor in the coming months to see what the actual impact is, but I do remain optimistic about our economy and the inflation outlook. Could artificial intelligence create more jobs? Many people think that artificial intelligence, also known as AI, is going to reduce jobs for people. The CEO of IBM, who admits that AI has replaced hundreds of workers, said it has created more jobs than it has eliminated. He went on to say it frees up investment that the employer can put to other areas that include such jobs as software engineering, sales, & marketing. Normal things like creating spreadsheets and other routine tasks can be done with artificial intelligence, but it still takes a human to do the critical thinking on how to use that data to enhance business for the company. If you're working for a company and you don't have much contact with other workers that relate to your job, your job could be at risk of being replaced by AI. Make sure your job involves using data to work with other people, which should give you job security in the growing world of AI. Oil at $50 a barrel? There is talk that we could see oil drop from around $60 a barrel down to $50 a barrel, which would be a big benefit for consumers at the pump. The reason for this is that OPEC and its allies are increasing production of oil faster than anyone expected. By June they could be producing nearly 1,000,000 more barrels of oil per day compared to current levels. The United States is currently the number one producer of oil in the world with production of nearly 15,000,000 barrels per day. If you're wondering does that meet our consumption? It does not as that stands at 19.6 million barrels per day. OPEC is not taking this sitting down and they want to regain market share. To do it appears they're willing to see lower oil prices. The reason why oil prices are expected to drop is that the demand is about the same as it was just one year ago, so the increase in production means we'll probably have an oil glut for a while. At $50 a barrel most oil companies can still make money off of producing oil, but US oil companies might stop doing stock buybacks and could no longer build new wells. What this would do is hurt supply in the future and oil would turn around and increase once again. If you invest in oil companies, you have to realize that supply/demand of oil will rule the price of the stock. But fortunately, most of the big oil companies pay a good dividend, which makes it a little bit easier to hold on when the stocks have a temporary decline. For consumers, this means the average cost per gallon of gasoline across the country, which is now around $3.20 per gallon, could drop to levels around $2.50 per gallon. Consumers in California may not see declines in the prices at the pump as California continues to drive refiners out of the state and reject refined gasoline from other states that do not meet a ridiculously high standard. If you want to blame someone for higher gas prices in California you can blame the governor and Sacramento for ridiculous policies on gasoline. Financial Planning: Trusts and Retirement Accounts Do Not Mix Naming a living trust as the beneficiary of a retirement account—such as an IRA or 401(k)—is generally not a good idea due to potential tax inefficiencies and administrative complexity. Under the SECURE Act, the "stretch IRA" option has been largely eliminated for most non-spouse beneficiaries, and replaced with a 10-year rule requiring the entire account to be withdrawn within a decade of the original owner's death. If a trust is named as the beneficiary and it isn't specifically drafted to be the beneficiary of a retirement account, it may not qualify for this 10-year treatment and could face even faster distribution requirements, such as a 5-year distribution period, accelerating taxes significantly. Instead, it's typically better to name individual beneficiaries directly on retirement accounts to preserve flexibility and minimize tax impact. For those needing control over distributions—for example, to protect minor children or spendthrift heirs—a carefully drafted trust designed to meet IRS requirements should be used with the help of a qualified estate planning attorney. For most other cases, listing actual people or charities as beneficiaries is a much simpler and more efficient strategy. Companies Discussed: Dick's Sporting Goods, Inc. (DKS), Charter Communications, Inc. (CHTR), Krispy Kreme, Inc. (DNUT) & Lyft, Inc. (LYFT)
The Chinese Communist Party's complex and contradictory embrace of capitalism has played a pivotal role in shaping China's economic reforms since the late 1970s. The Bird and the Cage: China's Economic Contradictions (Palgrave MacMillan, 2025) explores the persistent tensions between state control and market forces in China. It shows how these tensions provide a framework to understand Xi Jinping's recent efforts to tighten control over the Chinese economy. It also evaluates the broader implications of these policies for China's economic trajectory and its global trade relationships. Nicholas Borst is vice president and director of China research at Seafarer Capital Partners, and a member of the seventh cohort of the Public Intellectuals Program of the National Committee on US-China Relations. Prior to joining Seafarer, he was a senior analyst at the Federal Reserve Bank of San Francisco covering financial and economic developments in Greater China. Previously, Mr. Borst was the China program manager and a research associate at the Peterson Institute for International Economics. He also worked as an analyst at the World Bank, reviewing Chinese overseas investment projects. He was the founder and editor of the Peterson Institute's China Economic Watch blog, the co-founder of the Federal Reserve's Pacific Exchanges blog and podcast, and the founder of Seafarer's Prevailing Winds blog. His research and commentary have been featured in the Financial Times, The Wall Street Journal, The Economist, Bloomberg, The Wire China, and South China Morning Post. He has testified before the U.S.-China Economic and Security Review Commission on two occasions. Mr. Borst holds a B.A. in political science and international studies from the University of Arizona. He holds a certificate in Chinese studies from The Johns Hopkins University – Nanjing University Center and a master's degree in international relations and economics from the Johns Hopkins University School of Advanced International Studies. He is a CFA charterholder and a member of the CFA Institute. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics
This week's show is sponsored by: EPIC-MRA Public Opinion Research MIRS News Fulton Fish Market
What are tariffs really used for? For economic protection? For political gain? For enforcing foreign policy? In this interview, I discuss the following with my guest scholar: ►Why James Madison foresaw tariffs as an inevitable source of conflict? ►In U.S. history, did Americans ever complain that tariffs are really a tax on the people? ►What was the first instance in which tariffs were used as a foreign policy tool? ►What is the Tariff of Abominations? ►How did tariffs backfire on Southern politicians? ►How are tariffs and secession movements related? ►Were tariffs part of Civil War's history? ►What powers did Congress grants to FDR over tariffs? ►What part of U.S. history does Pres. Trump point to as justification for his tariff policy? ►What was Pres. Reagan's tariff policy? ►How is tariff policy with the USSR different than our tariff policy toward China?
Throughout the campaign of 2024, President Donald Trump promised to use tariffs to reset America’s global trade relationships, revitalize American manufacturing, and increase government revenues—and in the first months of his second administration, the president has used tariffs and the threat of tariffs to drive concessions even while raising antagonism and roiling markets. Kimberly Clausing helps us distinguish between the rhetoric and the reality of these tariffs. Clausing is an expert on the taxation of multinational firms. She served as the Deputy Assistant Secretary for Tax Analysis in the U.S. Department of the Treasury, serving as the lead economist in the Office of Tax Policy during the Biden administration. She is a nonresident senior fellow at the Peterson Institute for International Economics, a member of the Council on Foreign Relations, and a research associate at the National Bureau of Economic Research. Clausing has worked on economic policy research with the International Monetary Fund, the Hamilton Project, the Brookings Institution, the Tax Policy Center, and the Center for American Progress. She has testified before the House Ways and Means Committee, the Senate Committee on Finance, the Senate Committee on the Budget, and the Joint Economic Committee. Her research examines how government decisions and corporate behavior interplay in the global economy. She has published numerous articles on the taxation of multinational firms, and she is the author of “Open: The Progressive Case for Free Trade, Immigration, and Global Capital.” See omnystudio.com/listener for privacy information.
For the next 90 days, the two countries will temporarily ease tariffs on each other's goods as trade talks continue. But what does this deal mean for the broader economy? Marketplace's Kai Ryssdal sits down with Adam Posen from the Peterson Institute for International Economics to discuss the damage that's already been done. Also on the show, how soybean farmers feel about the latest trade deal and why Chinese manufacturers are trying to reach American consumers via TikTok.
For the next 90 days, the two countries will temporarily ease tariffs on each other's goods as trade talks continue. But what does this deal mean for the broader economy? Marketplace's Kai Ryssdal sits down with Adam Posen from the Peterson Institute for International Economics to discuss the damage that's already been done. Also on the show, how soybean farmers feel about the latest trade deal and why Chinese manufacturers are trying to reach American consumers via TikTok.
After declaring victory in yesterday's Canadian election, Prime Minister Mark Carney said the “old relationship” with the United States is over. Over the past few months, President Donald Trump's on-and-off tariffs and repeated annexation threats have caused Canadians to reconsider the United States as its leading trading partner and ally. But Patricia Goff, professor of political science at Wilfrid Laurier University, said the idea of disentangling the two economies is unrealistic. On the show today, Goff explains how Trump's tariffs and annexation threats influenced the Canadian election, how Canadian industries are navigating the trade war, and what this all could mean for the future of the U.S.-Mexico-Canada trade agreement.Plus, we'll hear a pitch for a new “Make Me Smart”-themed rear window sticker. And, what one psychologist got wrong about burnout. Here's everything we talked about today:"Trump knows exactly what he just triggered in Canada" from CBC News"Liberal Bruce Fanjoy topples Pierre Poilievre in Carleton" from CBC News"Canada-U.S. Relations Continue to Reach Lows Over Tariffs and Annexation Threats" from The New York Times"Mike Myers Is Ready to Defend Canada" from The New York Times"Canada says its friendship with the US is ‘over.' Now what?" From Politico "The future of the USMCA" from the Peterson Institute for International EconomicsWe want to hear your answer to the Make Me Smart question. Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.
After declaring victory in yesterday's Canadian election, Prime Minister Mark Carney said the “old relationship” with the United States is over. Over the past few months, President Donald Trump's on-and-off tariffs and repeated annexation threats have caused Canadians to reconsider the United States as its leading trading partner and ally. But Patricia Goff, professor of political science at Wilfrid Laurier University, said the idea of disentangling the two economies is unrealistic. On the show today, Goff explains how Trump's tariffs and annexation threats influenced the Canadian election, how Canadian industries are navigating the trade war, and what this all could mean for the future of the U.S.-Mexico-Canada trade agreement.Plus, we'll hear a pitch for a new “Make Me Smart”-themed rear window sticker. And, what one psychologist got wrong about burnout. Here's everything we talked about today:"Trump knows exactly what he just triggered in Canada" from CBC News"Liberal Bruce Fanjoy topples Pierre Poilievre in Carleton" from CBC News"Canada-U.S. Relations Continue to Reach Lows Over Tariffs and Annexation Threats" from The New York Times"Mike Myers Is Ready to Defend Canada" from The New York Times"Canada says its friendship with the US is ‘over.' Now what?" From Politico "The future of the USMCA" from the Peterson Institute for International EconomicsWe want to hear your answer to the Make Me Smart question. Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.
On April 2nd, the U.S. government announced a host of sweeping tariff hikes with every single one of America's trading partners. The aim of the so-called “Liberation Day” tariffs was ostensibly to “rebalance” the global trading system, as some Trump advisors have put it.However, the drastic measure roiled markets and eventually resulted in the President imposing a 90-day pause on most tariffs, with the exception of strategic sectors and imports from China. India, for its part, was slapped with a 26% tariff even as top officials were negotiating a bilateral trade agreement with their American counterparts.While the fate of future tariffs and any side agreements are unknown, the episode raises serious questions about India's global economic strategy. To talk about where India goes from here, Milan is joined on the show this week by Shoumitro Chatterjee. Shoumitro is an Assistant Professor of International Economics at Johns Hopkins-SAIS. His research lies at the intersection of development economics, trade, and macroeconomics, but he has also done seminal work on the role of agriculture in development.Milan and Shoumitro discuss India's surprising export-led success, its underperformance in low-skilled manufacturing, and the country's inward turn post-2017. Plus, the two discuss how India can take advantage of the current global uncertainty and where the politically sensitive agricultural sector fits in.Episode notes:1. Shoumitro Chatterjee, “In Trump's tariff world, India must say: We are open for business,” Indian Express, April 4, 2025.2. Abhishek Anand, Shoumitro Chatterjee, Josh Felman, Arvind Subramanian, and Naveen Thomas, “How quality control orders are crippling India's trade competitiveness,” Business Standard, March 4, 2025.3. Shoumitro Chatterjee and Arvind Subramanian, “India's inward (re)turn: is it warranted? Will it work?” Indian Economic Review 58 (2023): 35-59.4. Shoumitro Chatterjee, Devesh Kapur, Pradyut Sekhsaria, and Arvind Subramanian, “Agricultural Federalism: New Facts, Constitutional Vision,” Economic and Political Weekly 62, no. 36 (2022): 39-48.5. Shoumitro Chatterjee and Arvind Subramanian, “India's Export-Led Growth: Exemplar and Exception,” Ashoka Center for Economic Policy Working Paper No. 01, October 2020.6. Shoumitro Chatterjee and Arvind Subramanian, “To embrace atmanirbharta is to choose to condemn Indian economy to mediocrity,” Indian Express, October 15, 2020.7. Shoumitro Chatterjee and Arvind Subramanian, “Has India Occupied the Export Space Vacated by China? 21st Century Export Performance and Policy Implications,” in Euijin Jung, Arvind Subramanian, and Steven R. Weisman, editors, A Wary Partnership: Future of US-India Economic Relations (Washington, D.C.: Peterson Institute for International Economics, 2020).8. Shoumitro Chatterjee and Devesh Kapur, “Six Puzzles in Indian Agriculture,” India Policy Forum 13, no. 1 (2017): 185-229.
Tonight's rundown: Hey BillOReilly.com Premium and Concierge Members, welcome to the No Spin News for Thursday, April 10, 2025. Stand Up for Your Country. Talking Points Memo: How the United States could hurt China and why the Chinese economy will collapse unless a deal is reached. Nicholas Lardy, Ph.D., Senior Fellow at the Peterson Institute for International Economics, joins the No Spin News to discuss U.S.–China relations and whether Trump may have overestimated his leverage. Bill looks at the anti-Trump media's overreaction to the price of oil and eggs. Panama and the U.S. sign a new security deal for the canal. Why did CNN hold a town hall with Bernie Sanders? This Day in History: Paul McCartney announces that he is leaving The Beatles. Final Thought: Television pundits' saying, 'by the way' and 'we'll see.' In Case You Missed It: Read Bill's latest column, Make America Scared Again. Stand out from the crowd with our Not Woke baseball cap for just $28.95! For a limited time, get Bill O'Reilly's bestselling The United States of Trump and a No Spin Mug for only $39.95. Pre-order Bill's next book in the new Confronting Series, ‘Confronting Evil' NOW! Now's the time to get a Premium or Concierge Membership to BillOReilly.com, the only place for honest news analysis. Learn more about your ad choices. Visit megaphone.fm/adchoices
For a closer look at how President Trump's tariffs are already impacting the U.S. and global economies, Amna Nawaz spoke with Mary Lovely, a senior fellow who studies tariffs at the nonpartisan Peterson Institute for International Economics. PBS News is supported by - https://www.pbs.org/newshour/about/funders
For a closer look at how President Trump's tariffs are already impacting the U.S. and global economies, Amna Nawaz spoke with Mary Lovely, a senior fellow who studies tariffs at the nonpartisan Peterson Institute for International Economics. PBS News is supported by - https://www.pbs.org/newshour/about/funders
Today, it's all YOU! We're diving into the mailbag to play your voicemails, read your comments, and answer your questions after a wild week of tariff insanity. We'll hear from YOU on how you've been riding the economic uncertainty. Plus, is Trump's tariff pause, really a pause? And a listener shares what it's been like teaching elementary students about tariffs. Here's everything we talked about today:“US-China Trade War Tariffs: An Up-to-Date Chart” from the Peterson Institute for International Economics“The Fiscal and Economic Effects of the Revised April 9 Tariffs” from The Budget Lab at YaleMillion Bazillion by MarketplaceJoin us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.
Today, it's all YOU! We're diving into the mailbag to play your voicemails, read your comments, and answer your questions after a wild week of tariff insanity. We'll hear from YOU on how you've been riding the economic uncertainty. Plus, is Trump's tariff pause, really a pause? And a listener shares what it's been like teaching elementary students about tariffs. Here's everything we talked about today:“US-China Trade War Tariffs: An Up-to-Date Chart” from the Peterson Institute for International Economics“The Fiscal and Economic Effects of the Revised April 9 Tariffs” from The Budget Lab at YaleMillion Bazillion by MarketplaceJoin us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.
This is a special edition of the Bloomberg Daybreak: US Edition podcast. Subscribe to the show: on Apple: http://bit.ly/3DWYoAN on Spotify: http://bit.ly/3jGRYiB Anywhere: http://bit.ly/3J1bct9On today's episode: President Donald Trump imposed the steepest American tariffs in a century as he steps up his campaign to reshape the global economy, sparking threats of retaliation and a selloff in markets around the world.Trump announced Wednesday he will apply at least a 10% tariff on all exporters to the US, with even higher duties on some 60 nations, to counter large trade imbalances with the US. That includes some of the country’s biggest trading partners, such as China — which now faces a tariff of well above 50% on many goods — as well as the European Union, Japan and Vietnam.“For years, hard-working American citizens were forced to sit on the sidelines as other nations got rich and powerful, much of it at our expense,” Trump said during an event in the White House Rose Garden to unveil the so-called reciprocal tariffs. “Now it’s our turn to prosper.”The move marks a dramatic escalation in Trump’s trade war, one that risks triggering retaliation from other countries and upends calculations for businesses and consumers at home. China and the EU, America’s largest trading partner, both said they were preparing to take countermeasures in response.The US president has embraced tariffs as a tool to assert US power, revive manufacturing at home and exact geopolitical concessions — counter to the decades-old consensus that lower trade barriers help to foster ties among nations and prevent conflicts. Economists say the near-term result of his measures will likely be higher US prices and slower growth — or perhaps even a recession.Global financial markets were hit by a sweeping selloff after Trump’s announcement, with US equity futures slumping as much as 4%.Gold hit an all-time high and the traditional haven Japanese yen soared, while China maintained its daily support of the yuan. Ten-year Treasury yields fell toward the closely-watched 4% level, their lowest since October.Read More: Fear Grips Markets as Trump Tariffs Raise Risks to Global GrowthLess than three months after returning to the White House, Trump has already erected trade barriers that are bigger by some measures than those imposed in the notoriously protectionist 1930s. Bloomberg Economics calculates that the effective tax rate the US now charges on more than $3 trillion of imported goods may climb to around 23% — higher than any point in more than a century.A statement published Wednesday by the United States Trade Representative explained the Trump administration calculated its raft of new tariffs primarily based on existing trade balances. Countries running a trade surplus with the US faced a flat 10% rate regardless, as did nations where trade was roughly even.There’s a small difference in the tariff rates first announced by Trump and more than a dozen of those listed in the annex that accompanied the White House executive order. For countries like South Korea, Myanmar, Pakistan and India, the rates in the annex are about 1 percentage point higher than the initial announcement.The 10% baseline charge on everyone takes effect after midnight Saturday. The higher duties on targeted countries — which replace, rather than add on top of the 10% rate — are due to kick in on April 9, the White House said.Read More: List of Reciprocal Tariffs by CountryFor now, the new measures don’t include Canada and Mexico, which are embroiled in a separate on-and-off tariff dispute with the US. They also won’t apply to some products that are subject to separate duties tied to so-called Sec. 232 investigations such as autos, semiconductors and lumber.The reciprocal tariffs were “much worse than we feared,” said Mary Lovely, a senior fellow at the Peterson Institute for International Economics. There’ll be “huge implications for rerouting of trade,” she said.The president, who’s sought to frame his trade plans as a boost for his blue-collar voters, was joined in the Rose Garden by union members and workers from various industries — including a retired autoworker who spoke on stage. Later, Trump brandished large boards during his 48-minute address to display each nation’s new rate.See omnystudio.com/listener for privacy information.
Hey Smarties! Today we’re revisiting an episode from earlier this year that might help you make sense of all the tit for tat tariff fight from the past few weeks. It unpacks some tariff history and the potential economic consequences of President Trump’s ongoing trade war. If President Donald Trump goes through with his plan to levy sweeping tariffs on foreign imports, it wouldn't be the first time the U.S. has done such a thing. Ever heard of the Smoot-Hawley Tariff Act of 1930? Anyone? Those tariffs are widely credited with sinking the United States deeper into the Great Depression. And although global trade looks different nowadays, they can teach us a lot about how Trump's protectionist approach to global trade could play out. On the show today, Inu Manak, a fellow for trade policy at the Council on Foreign Relations, explains how the Smoot-Hawley tariff debacle can shed light on the current moment, why the president has the power to wield tariffs in the first place, and how punishing trading partners could leave the U.S. economy at a disadvantage. Plus, what this fight has to do with the 1980s film “Ferris Bueller's Day Off” and Roomba vacuum cleaners! Later, one listener's call to visit your local butcher. And, dating coach Damona Hoffman, host of the “Dates and Mates” podcast, answers the “Make Me Smart” question just in time for Valentine's Day. Here's everything we talked about today: “Tariffs on Trading Partners: Can the President Actually Do That?” from Council on Foreign Relations “One Response to Trump's Tariffs: Trade That Excludes the U.S.” from The New York Times “The United States has been disengaging from the global economy” from the Peterson Institute for International Economics “Protectionism 100 years ago helped ignite a world war. Could it happen again?” from The Washington Post “The US is one of the least trade-oriented countries in the world – despite laying the groundwork for today's globalized system” from The Conversation Double your impact when you donate to Marketplace today, thanks to a $30,000 match from the Investors Challenge Fund: https://support.marketplace.org/smart-sn
Hey Smarties! Today we’re revisiting an episode from earlier this year that might help you make sense of all the tit for tat tariff fight from the past few weeks. It unpacks some tariff history and the potential economic consequences of President Trump’s ongoing trade war. If President Donald Trump goes through with his plan to levy sweeping tariffs on foreign imports, it wouldn't be the first time the U.S. has done such a thing. Ever heard of the Smoot-Hawley Tariff Act of 1930? Anyone? Those tariffs are widely credited with sinking the United States deeper into the Great Depression. And although global trade looks different nowadays, they can teach us a lot about how Trump's protectionist approach to global trade could play out. On the show today, Inu Manak, a fellow for trade policy at the Council on Foreign Relations, explains how the Smoot-Hawley tariff debacle can shed light on the current moment, why the president has the power to wield tariffs in the first place, and how punishing trading partners could leave the U.S. economy at a disadvantage. Plus, what this fight has to do with the 1980s film “Ferris Bueller's Day Off” and Roomba vacuum cleaners! Later, one listener's call to visit your local butcher. And, dating coach Damona Hoffman, host of the “Dates and Mates” podcast, answers the “Make Me Smart” question just in time for Valentine's Day. Here's everything we talked about today: “Tariffs on Trading Partners: Can the President Actually Do That?” from Council on Foreign Relations “One Response to Trump's Tariffs: Trade That Excludes the U.S.” from The New York Times “The United States has been disengaging from the global economy” from the Peterson Institute for International Economics “Protectionism 100 years ago helped ignite a world war. Could it happen again?” from The Washington Post “The US is one of the least trade-oriented countries in the world – despite laying the groundwork for today's globalized system” from The Conversation Double your impact when you donate to Marketplace today, thanks to a $30,000 match from the Investors Challenge Fund: https://support.marketplace.org/smart-sn
Wall Street thought Donald Trump was bluffing about his tariff plans. The stock market rallied after his election. But the reality has started setting in. Trump is doubling down on tariffs, even as he warned Americans that the economy may experience a “period of transition,” insisting this is just short-term pain.So what exactly is Trump's theory here? And how much pain should we expect?Answering those questions requires a bit of a tariffs primer. And the economist Kimberly Clausing kindly agreed to come on the show, walk through the basics, and help me make sense of what Trump is doing here. Clausing has modeled the possible costs and consequences of the tariffs Trump has proposed, and she breaks down how much you and I might end up paying. Clausing is a senior fellow at the Peterson Institute for International Economics, a professor at U.C.L.A. and the author of “Open: The Progressive Case for Free Trade, Immigration, and Global Capital.”This conversation contains strong language.Note: This conversation was recorded on Wednesday, March 5.Mentioned:We're taping an “Ask Me Anything” episode soon. You can email me at ezrakleinshow@nytimes.com with a question. Please use the subject like “AMA.” We'll consider any questions that are shared by the end of the day on Tuesday March 18.“The Real Reason President Trump Pushes Tariffs” by Kimberly ClausingAbundance by Ezra Klein and Derek ThompsonAbundance book tourBook Recommendations:The Undoing Project by Michael LewisMountains Beyond Mountains by Tracy KidderThe Worldly Philosophers by Robert L. HeilbronerThoughts? Guest suggestions? Email us at ezrakleinshow@nytimes.com.You can find transcripts (posted midday) and more episodes of “The Ezra Klein Show” at nytimes.com/ezra-klein-podcast. Book recommendations from all our guests are listed at https://www.nytimes.com/article/ezra-klein-show-book-recs.This episode of “The Ezra Klein Show” was produced by Rollin Hu. Fact-checking by Michelle Harris. Mixing by Isaac Jones, with Efim Shapiro and Aman Sahota. Our supervising editor is Claire Gordon. The show's production team also includes Elias Isquith, Kristin Lin and Jack McCordick. Original music by Pat McCusker. Audience strategy by Kristina Samulewski and Shannon Busta. The executive producer of New York Times Opinion Audio is Annie-Rose Strasser. Special thanks to Pat McCusker. Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.
If President Donald Trump goes through with his plan to levy sweeping tariffs on foreign imports, it wouldn’t be the first time the U.S. has done such a thing. Ever heard of the Smoot-Hawley Tariff Act of 1930? Anyone? Those tariffs are widely credited with sinking the United States deeper into the Great Depression. And although global trade looks different nowadays, they can teach us a lot about how Trump’s protectionist approach to global trade could play out. On the show today, Inu Manak, a fellow for trade policy at the Council on Foreign Relations, explains how the Smoot-Hawley tariff debacle can shed light on the current moment, why the president has the power to wield tariffs in the first place, and how punishing trading partners could leave the U.S. economy at a disadvantage. Plus, what this fight has to do with the 1980s film “Ferris Bueller’s Day Off” and Roomba vacuum cleaners! Later, one listener’s call to visit your local butcher. And, dating coach Damona Hoffman, host of the “Dates and Mates” podcast, answers the “Make Me Smart” question just in time for Valentine’s Day. Here’s everything we talked about today: “Tariffs on Trading Partners: Can the President Actually Do That?” from Council on Foreign Relations “One Response to Trump's Tariffs: Trade That Excludes the U.S.” from The New York Times “The United States has been disengaging from the global economy” from the Peterson Institute for International Economics “Protectionism 100 years ago helped ignite a world war. Could it happen again?” from The Washington Post “The US is one of the least trade-oriented countries in the world – despite laying the groundwork for today's globalized system” from The Conversation Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.
If President Donald Trump goes through with his plan to levy sweeping tariffs on foreign imports, it wouldn’t be the first time the U.S. has done such a thing. Ever heard of the Smoot-Hawley Tariff Act of 1930? Anyone? Those tariffs are widely credited with sinking the United States deeper into the Great Depression. And although global trade looks different nowadays, they can teach us a lot about how Trump’s protectionist approach to global trade could play out. On the show today, Inu Manak, a fellow for trade policy at the Council on Foreign Relations, explains how the Smoot-Hawley tariff debacle can shed light on the current moment, why the president has the power to wield tariffs in the first place, and how punishing trading partners could leave the U.S. economy at a disadvantage. Plus, what this fight has to do with the 1980s film “Ferris Bueller’s Day Off” and Roomba vacuum cleaners! Later, one listener’s call to visit your local butcher. And, dating coach Damona Hoffman, host of the “Dates and Mates” podcast, answers the “Make Me Smart” question just in time for Valentine’s Day. Here’s everything we talked about today: “Tariffs on Trading Partners: Can the President Actually Do That?” from Council on Foreign Relations “One Response to Trump's Tariffs: Trade That Excludes the U.S.” from The New York Times “The United States has been disengaging from the global economy” from the Peterson Institute for International Economics “Protectionism 100 years ago helped ignite a world war. Could it happen again?” from The Washington Post “The US is one of the least trade-oriented countries in the world – despite laying the groundwork for today's globalized system” from The Conversation Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.
President Donald Trump may have hit pause on tariffs against Mexico and Canada, but his trade penalties on China are still in place. That includes a 10 percent tariffs on all Chinese imports, including consumer electronics and other tech products. On POLITICO Tech, host Steven Overly talks to Chad Bown, a senior fellow at the Peterson Institute for International Economics, about the implications for tech companies and online retailers in both the U.S. and China. Learn more about your ad choices. Visit megaphone.fm/adchoices
The U.S., Canada and Mexico all agreed to delay the start of new tariffs and hold off for now the possibility of a tariff war among traditional allies. But significant new tariffs are still expected to take effect on Chinese goods. For perspective on the impacts of the Trump administration's tariff policy, Geoff Bennett spoke with Mary Lovely of the Peterson Institute for International Economics. PBS News is supported by - https://www.pbs.org/newshour/about/funders
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