Understanding the Impact of Tariffs: Economic Insights and Global Trade Negotiations

In Season 5, Episode 7 of the ASA podcast, Chief Economist Dr. Chris Kuehl offers an in-depth analysis of the impact of tariffs on global trade and the economy. He explores the historical context of tariffs, originally used as a negotiation tool in trade agreements, and examines their current role in global trade dynamics. Dr. Kuehl discusses how tariffs, particularly between the U.S., Mexico, and Canada, are being used as leverage, and raises the question of whether this strategy ultimately benefits or harms businesses in the long term.
 

Dr. Kuehl also addresses the broader implications of tariffs and trade policies, including their relationship with immigration issues and border negotiations. He highlights that the use of tariffs is not limited to the U.S., but is a tactic employed worldwide to influence political and economic outcomes. He provides insight into the fluctuating tariff percentages and the back-and-forth nature of these policies, questioning whether the frequent changes create more uncertainty for businesses.
 

Finally, Dr. Kuehl reflects on the communication style of former President Trump regarding tariff decisions and its potential impact on business operations. He discusses whether businesses can expect any reprieves in the near future and offers advice to ASA members on how to navigate the unpredictable landscape of tariffs. He concludes by encouraging members to stay informed and adaptable as the situation continues to evolve.

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