In this episode of "Uncomfortable Collisions with Reality," Gene Tunny and I explore the implications of President Trump's tariffs on international trade. We discuss the micro and macroeconomic aspects of tariffs, and how these policies could reshape the U.S. and global economies. We discuss the ways in which foreigners can be induced to pay some of the tariff, even if not as much as Donald Trump says they will, while also addressing the\ impacts on industries and employment. We emphasise how abstract the economists' models are and how poorly they account for supply chain disruptions. The broader implications for U.S. foreign relations, and the rule of law are also touched upon. Why would anyone trust the US when, under this president, it breaks previous agreements whenever it fancies? If you'd like to see the YouTube recording of our conversation, it's here.

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