The Charlie Kirk Show The Real History of Tariffs
Apr 8, 2025
John Carney, finance and economics editor at Breitbart.com, dives deep into the history and impact of tariffs on the economy. He debunks myths linking tariffs to the Great Depression and clarifies how Reagan's policies led to both market dips and subsequent booms. Carney discusses Trump's trade strategies, emphasizing America's negotiating power with China. He also examines the surprising positive responses in global trade, challenging expectations of a trade war, and sheds light on the complexities of international trade agreements.
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Market Reactions to Tariffs
- Markets reacted negatively to Trump's unexpected higher and broader tariffs.
- However, the market surge suggests other countries are willing to negotiate to maintain access to American consumers.
Trump's Tariff Goals
- Trump's tariff strategy aims to level the playing field for American businesses.
- He seeks to address not only tariffs but also non-tariff barriers like currency manipulation and dumping.
Reagan's Protectionist Measures
- Reagan, despite being seen as a free trader, used protectionist measures like quotas on Japanese cars.
- This led Japanese car manufacturers to build factories in the US.