If Donald Trump actually follows through on many of his campaign promises to impose tariffs, it would thoroughly upend the rules-based system governing international trade. That system, which is partially embodied by the World Trade Organization, was once championed by the United States. However, over the years, U.S. presidents, including President Biden, have occasionally skirted its rules and processes. The incoming Trump administration, though, seems willing and eager to ignore it altogether.

So, what does that mean for global trade? And could Trump's actions spark a trade war? Joining me to answer these questions and more is Dmitry Grozoubinski, a trade expert and author of the new book Why Politicians Lie About Trade...and What to Do About It. The book is an excellent primer on trade policy—I learned a lot from it. We kick off by discussing the book before diving into a long conversation about how Trump's approach to international trade upends the logic of the rules-based trading system and whether or not his policies might result in a trade war.

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