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'Trump Means What He Says': Joe Lavorgna on Sweeping Global Tariffs
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April 3, 2025
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3:38Now PlayingAs US President Donald Trump laid out a wave of new tariffs that will take average levies to their highest in more than a century, he drew cheers and laughs from aides and supporters in the White House Rose Garden. For economists, markets and the rest of the world, there was very little to celebrate.
With new import taxes that Trump and his aides have explicitly billed as designed to redraw the global order, Trump is sending an historic shock into the world economy.
President Donald Trump holds a signed executive order during a tariff announcement in the Rose Garden on April 2.
It’s an upheaval that will shake US allies and existential rivals such as China alike. And it will also test the resilience of a US economy for which the odds of recession or 1970s-like stagflation have just jolted higher. Unlike previous ructions such as the 2008 financial crisis, this one is wholly intentional.
Joe Lavorgna, former chief economist at the National Economic Council for President Donald Trump in his first term, shares his thoughts on Trump's new sweeping global tariffs, its impact on the world's economy and markets. Plus, he talks about what makes Trump's first term tariff policies different from what was announced yesterday.
He speaks with hosts Tom Keene and Paul Sweeney.
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