The Art of Trade Wars: Trump's Tariff Strategy

Global Trade Deciphered

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Privileged Discussions is now Global Trade Deciphered, a sharper reflection of our focus on global trade and business. Same expert insights, new name.

Episode Description

In this episode, Justin Hayden Miller, a Global Trade & Customs lawyer and consultant, using clips of Margaret Thatcher, analyses latest developments of President Trump’s trade and tariff policies.

The episode concludes considering:

• Risks of Rule-Changing: Analyzing the potential consequences of the U.S. reshaping global trade rules, which could inadvertently advantage competitors like China.
• Comparisons with Darwinism: The theory of Survival of the Fittest, with modern day approaches to trade, drawing parallels with current events.

It considers:

• U.S. Tariff Policies: 2025 U.S. Trade Policy. Exploring President Trump's perspective on tariffs as a tool for economic dominance, with references to a pre-World War II "golden age" of U.S. trade funded by tariffs rather than income tax.
• Margaret Thatcher’s Legacy: Featuring archival clips of Thatcher defending her economic policies, Justin draws connections between her views on wealth creation and modern trade strategies.
• Soft Power vs. Hard Power: A discussion on the shift from diplomatic influence to economic coercion, with references to Joseph Nye’s concept of soft power and its relevance to U.S. global positioning.
• Economic Ideology: Debating the merits of free trade versus protectionism, with references to Adam Smith and the ideological underpinnings of current U.S. trade strategies.

Thatcher clips © : By permission: UK Parliamentary Recording Unit, All rights reserved

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פרקים

1. Introductory remarks (00:00:00)

2. Trump's view on art implications on trade policies (00:03:18)

3. Trump 2.0 (00:07:45)

4. Adam Smith & Free Trade (00:15:44)

5. Is Trump catalysing new economic thinking? (00:18:24)

6. Darwin and Trump's Trade Policies (00:21:45)

7. Thatcher's notion of Wealth (00:25:32)

8. The Cause of the Trade War: Comparative Wealth (00:37:37)

9. Caution Required & Risks of Rule-Changing (00:39:28)