Tariffs - What Do They Achieve?

We discuss the effects of tariffs on consumers and producers, drawing on evidence from the tariff war during the first Trump administration. The empirical evidence shows that import tariffs led to increases in domestic prices, reductions in import quantities and a reduction in product variety. This coupled with additional adverse effects on global supply chains and retaliatory tariffs makes it hard to understand how the U.S. can gain in economic terms from tariffs. We draw our insights from this academic paper: Amiti, Weinstein, Redding: "The Impact of the 2018 Tariffs on Prices and Welfare"

You can listen to Tariffs - What Do They Achieve? online on Radio and Podcast. Open the player on this page to stream the available audio.

Tariffs - What Do They Achieve? is an episode from The Week That Was in Europe by Klaus Adam & Dirk Schumacher.

This episode is 00:21:28 long.

This episode was published on Feb 7, 2025.

Yes. Use the heart button on the episode page to add it to your favorite episodes list.

Yes. This page shows related episodes from The Week That Was in Europe when more episodes are available from the podcast feed.