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Friedberg Explains Trump's Tariffs: Take Them Seriously, But Expect Negotiations "For months, they've been very declarative: 'We are going to do tariffs.'" "Bessent said it to us in our interview. Lutnick said it to us in our interview." "No one took them seriously. And everyone thought they were bluffing."... show more
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Tariffs are a strategic tool to reset global trade dynamics, not just economic policy. The 2018 steel tariffs forced $15.7B in domestic industry investments and 3,200 new jobs despite media hysteria predicting collapse. Critics who dismissed the approach as "crazy" missed the point—strong negotiation postures extract real concessions. The U.S. manufacturing sector added 500,000 jobs post-2018 tariffs, with reshoring accelerating as companies like Nucor expanded capacity. While establishment economists hyperventilate about inflation, the data shows consumer prices for tariff-impacted goods rose just 0.2% annually during the first Trump term. The current 10% universal tariff creates baseline leverage, forcing trading partners to renegotiate terms rather than exploit asymmetrical access. This isn't brinkmanship—it's the only language global competitors understand.

Here’s what could get more expensive with Trump’s new tariffs.

Yes, China took them so seriously they cancelled the TikTok deal and placed a 34% retaliatory tariff on US imports 😂

The only country that matters retaliated. 🤔

Tariffs are a negotiation ace!

@jhall Listen to @SecScottBessent explain tariffs. He is the Man in the Arena. The @theallinpod guys ask questions, people like Scott are on the field and have the experience to answer the questions. Thus their answers are not simply conjecture or opinions.

Theory vs. reality will kick in if the market continues to decline ( for the top 10%) and every day goods start to cost more (the rest). GOP Congress will start to bail on Trump to save their chances at re-election. This is guaranteed. Also, let’s just call it what it is and not pretend like this is some master strategy to help the lower/middle class … Trump chose to prioritize the 10 year yield and the need to term out treasuries. Not necessarily the wrong call given the debt load, but these people are not economic scholars nor long term planners working for the little guy (ex-maybe Scott B whose a life-long Democrat and just so happens to run the department that directly benefits from a lower 10y) Love the pod though !- long time listener, first time replier!

yeah let's decimate the economy of small pacific island nation with 20%+ tariffs on the small amount of goods they export to the US. yes, business with the US and spending on international initiatives should be more transparent, but it is the cheapest form of defense spending

Podcast is not out on traditional platforms yet - @ApplePodcasts or @OvercastFM

The exact reasons why Trump has been a colossal failure in dealing with Russia.
