Barackface: 7: Trade

The Unintended Consequences of Trump’s Tariff Strategy Countries like the UK appear moderately pleased with their 10% rate while nations such as Switzerland are aghast at levies as high as 39%—so much that Swiss President Karin Keller-Sutter traveled to Washington to negotiate directly before they’re initiated fully, which Trump promises will happen on Aug. 7. ........... But it’s early days yet in Trump’s trade war, and everything from the unexpected movement of the dollar to negative jobs data and $1 trillion in trade exemptions continues to cloud the picture. On this episode of Trumponomics, we try to understand how Trump’s tariffs (which, to add more complexity, an appeals court could soon rule illegal) are currently affecting US businesses, China and the rest of the world. ......... Trump appears to be moving forward with his agenda to cement higher rates on foreign goods, but it’s unclear whether he’ll prove economists wrong and usher in his promised era of re-industrialization. Indeed, recent economic data that prompted the Republican to fire the chief of the Bureau of Labor Statistics doesn’t bode well for his project. Wong explains that downward revisions to jobs numbers in recent months indicate the economy may not holding up under the pressure of Trump’s policies. ......... A similar sentiment is echoed by Donnan as he describes the difficulties experienced by Nature Sweet, one of the largest greenhouse tomato growers in North America. Not only has Trump imposed a 17% tariff on tomatoes from Mexico, from where Nature Sweet imports, but the additional levies on manufacturing equipment and other necessary items has forced the company to reconsider expansion plans. These consequences, Donnan says, are “what we’re really starting to see happen in in the real economy.”

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The Unintended Consequences of Trump’s Tariff Strategy

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Thursday, August 07, 2025

7: Trade

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