In this episode of our podcast, Episode 246, hosts Adrian and Renaud delve into the complex topic of international trade policies as they discuss the anticipated trade moves of President Trump in his upcoming second term. Recorded on December 4th, the conversation centers around the potential tariffs Trump plans to impose, not only affecting American businesses but also international listeners.

The hosts critically analyze Trump's legacy in trade, specifically his use of tariffs during his first term, which left a significant mark with increased tariffs on Chinese products, a move that the Biden administration surprisingly maintained. They discuss how tariffs, often perceived as a protective measure for domestic jobs, actually impact importers and consumers directly, leading to increased costs. The episode highlights insights from a Harvard Business Review article that outlines who bore the brunt of these tariffs in practice.

Listeners are provided with a thorough analysis of Trump's "bully strategy" in trade negotiations and the theory of tariffs as a fiscal tool to reduce income tax rates without facing political backlash for direct tax hikes. The episode wraps up with a discussion of the possible future scenarios as Trump's second term begins, considering both economic and geopolitical factors.

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