This podcast features a discussion dissecting tariffs and subsidies as tools of foreign trade policy. The speakers examine the short-term impacts of tariffs, such as decreased imports and increased consumer costs, alongside long-term arguments for their use, including infant industry protection and national security. They also explore historical examples and counterarguments, highlighting potential negative consequences like reduced economic growth and job losses. The conversation further differentiates tariffs from subsidies, explaining how each impacts consumers and taxpayers and their potential to incite international trade disputes.For a detailed and rigorous analysis on the topic, read this article: https://economicsbeacon.beehiiv.com/p/demystifying-tariffs

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