EP136: The Truth About Tariffs Told by Dave Hebert, Economist - Gracearchy with Jim Babka

Donald Trump resurrects a dead idea: Restrict free trade with tariffs. He suggests, and millions now agree, tariffs good for America. What are these "goods?" What are the various tradeoffs between them? Because there are always tradeoffs! Professional economist, Dave Hebert, answers those questions using Obama's Chinese tire tariffs and Trump's (first term) steel and aluminum tariffs. This conversation is broken into three parts: The economic impacts, the five strategic benefits of tariffs, and whether Donald Trump is using a sound negotiating strategy. Take notes. Tell your friends. They'll think you're a professional expert on tariffs after you're done listening to this episode. NOTES Dr. David Hebert, Ph.D. is Senior Research Fellow for AIER and an affiliated scholar at The Acton Institute. CHAPTERS 0:25 Go to ZeroAggressionProject.org to get "mugged" 1:02 David Hebert, PhD economist 2:44 Economists united, Trade is good 4:18 Is a tariff a tax? 7:27 Wealth impacts of tariffs 9:39 Obama's Chinese tire tariffs 14:49 Do tariffs increase national security? 19:42 Tariffs are bad at revenue generation 22:18 More revenue or more jobs, you must choose 24:29 Decouple from China and Level playing the field 27:33 Freedom not tariffs makes workers better off 35:47 How tire tariffs worked and didn't work 39:00 Trump's steal tariffs reduced net jobs 40:53 Tariffs shaping your drink cans 43:11 Is this really Art of the Deal? 46:53 Adam Smith's strategies for playing Risk 48:55 Apply the two tests to Mexico, Columbia, Canada 51:38 Applying the two tests on the European Union 54:01 Applying the two tests to China 59:19 Advice from a certain NY Real Estate Developer 1:00:40 Follow Dave and get more info 1:01:09 Gracepoint: Permit Humans to Trade Freely CREDITS Bill Protzmann is your moderator. This episode is sponsored by Zero Aggression Project. https://zeroaggressionproject.org/ Thank you to Randy Garbin for our amazing episode thumbnails: http://randygarbin.com/ Sometimes, we use ChatGPT to help write the show description. But not this time! We are grateful to Sergio at https://www.youtube.com/@KeysofMoonMusic for our intro theme. ► https://www.patreon.com/user?u=10500501 or you can purchase his music on BandCamp: ► https://keysofmoon.bandcamp.com/ ► If you have any questions please feel free to write to Sergio at: [email protected] Be grace-full to each other.