Big Technology Podcast Trump, Tariffs, Trade War, And Technology — With Alan Deardorff
Nov 4, 2024
Alan Deardorff, a professor emeritus of international economics at the University of Michigan, dives into the intricate world of tariffs and trade on the eve of the elections. He discusses the contrasting views of Trump and Harris on trade policies and the potential risks posed to U.S. tech companies by a trade war. The conversation also scrutinizes China's practices, the implications for electric vehicles, and how tariffs could reshape retailer strategies. Deardorff concludes with insights on currency debasement and the stability of the U.S. dollar.
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Benefits of Specialization
- Countries benefit by specializing in what they do best in international trade.
- Bringing production home raises costs and may hamper industries dependent on cheaper imports.
Shift in Political Stance on Trade
- Politicians are now more protectionist, potentially influenced by Trump's tariff policies.
- Public resistance to trade stems from job security concerns, even though trade ultimately benefits consumers.
Michigan's Auto Industry
- Michigan's auto industry faced challenges due to Japanese imports but ultimately improved due to competition.
- While some jobs were lost, the country and even Michigan benefited from better cars.