The last two weeks have been a bit of an economic whirlwind, with the US imposing steel and aluminium tariffs on Canada, the EU, and Mexico, a move that has driven US-Canadian relations in particular to a new low as Canada imposed its own tariffs on American goods. Just yesterday, the US launched another salvo in its ongoing trade conflict with China, threatening to place tariffs on a wide range of goods valued at around 450 billion dollars. This has resulted in a steep decline in stock prices and has provoked anxiety across industries. All of this antagonism has pushed the US to the brink of a trade war.
In this episode, we engage in some trade talks of our own. Specifically, we try to answer three questions: Why is this happening? What is a trade war? Why should we, as regular citizens, care about politicians arguing over billions of dollars and unfathomably large quantities of goods? We also talk about manufacturing, nostalgia, and the future of the US economy.
Mentioned on the show:
Protectionism, and how protectionist policies relate to trade wars
What’s happening in manufacturing?