The Spectator Podcast

This week: Trump’s tariffs – madness or mastermind?‘Shock tactics’ is the headline of our cover article this week, as deputy editor Freddy Gray reflects on a week that has seen the US President upend the global economic order, with back and forth announcements on reciprocal and retaliatory tariffs. At the time of writing, a baseline 10% on imports stands – with higher tariffs remaining for China, Mexico and Canada.The initial announcement last week had led to the biggest global market decline since the start of the pandemic, and left countries scrambling to react, whether through negotiation or retaliation. China announced a second wave of retaliatory tariffs – to 84% – and Trump, while softening his stance towards other countries, appeared to lean in to a trade war with China by announcing a further hike to 125%. As Freddy writes, for Trump and his supporters ‘China is America’s chief enemy.’ ‘President Trump just took a massive punch at Xi, right in the chops,’ said Steve Bannon. ‘The overlords of easy mone