tariffs which is these are ways in which we have
the tariffs and created a functional boycott, and the Chinese hit back with
high tariffs , and that's Chinese electric cars.
their own tariffs , and then the critical minerals licensing regime.
kind of tariffs and so forth.
superficially unpopular tariffs um with other countries?
They cut tariffs and subsidies and protections.
We're thinking about tariffs , and how much do you-- what's the relationship between globalization, and global capital flows, and global flows of migrants,
as tariff bar tariffs and and uh restraints on trade have been relaxed uh
Trump really believes that tariffs are a consistent policy to be used to benefit the US economy and national security.
They want to ensure that there are tariffs on other countries that get more production back into the United States,
It involves controls, tariffs , structural barriers.
All taxes at that time are essentially controlled through tariffs .
the wrong problem if for instance we raise tariffs because we think it's trade that has destroyed most of the
He was going to put tariffs on all the Europeans that supported Denmark.
He puts these high tariffs on China.
you know, a lot of impacts from tariffs to to um weather events over the last couple of years.
As recently as May 2026, China removed tariffs on all African nations except for one, Eswatini, a country that still
And once they figure out distribution costs, and tariffs , and fees-- mystery fees, and all sorts of things getting them into
down by a few million more over the next decade um because of tariffs um poor
And that means we are going to see an implementation of those tariffs against China as well as against allies.
but those aren't enough to have an impact that will overshadow the challenges of tariffs
Uh his ability, whether it's on tariffs and hitting the Chinese or it's on Russia and doing a deal over the
Republicans become less remarket oriented, more populist and more enthusiastic about things like tariffs .
Industrial policy, export controls, trade policy like tariffs , things that you do to your domestic firms.
And in the recent years, we've seen policies on tariffs , immigration restrictions, industrial policy,
You said, for example, recently that tariffs and immigration restrictions can be inflationary, which is a position to take.
But when it comes to matters like immigration, like tariffs , like antitrust policy, like regulation, people would look at the business community as having a voice.
And we see that with the tariffs .
But trying to connect tariffs or in an international monetary policy to, you know, uh higher prices uh you know,
economy is not going great for China, even though it it's weathered the storm of tariffs from the US pretty well.
The fact that it isn't is of course inherently political and there's all the tariffs and import fees and all that, that's super variable
And in international trade it's, how low are the tariffs ?
They can't do the things that we know work well, like using tariffs and subsidies-- having tariffs , again, to protect their markets from being
So they imported goods like Walmart does-- or whether more Walmart is able to import goods now with tariffs , I'm not sure.
And even if you don't like his economic policies and you don't agree with tax or tariffs or whatever, he's a good person, and I think he wants
But I could totally see that some kind of economic benefits, tariffs , quotas that you could meet that could actually reduce, not just the global sort of parameters,
And as Ethan described, with some of the taxes and tariffs that are imposed on us in the markets we operate, there's a really powerful compounding effect
get, uh, you can buy imports without paying high tariffs , ah you get cheap loans to buy a house.
Well and also a point about this electric thing, the reason we have these tariffs on Chinese cars right now is Chinese cars, electric cars,
Um and I know you've been critical of the tariffs .
I'm curious what your perspective is on perhaps why the tariffs haven't had more of an impact
um, so far and even just the threats of tariffs and perhaps give me some appraisal on on who is winning the trade
So the US keeps losing manufacturing jobs um because tariffs are really creating a lot of
terms after um Elon was fired as being co-president in uh a name or so and so Doge the tariffs uh hasn't worked really
First is tariffs .
China did this right last year, Liberation Day as Trump called it where he puts tariffs on all
And by the way, some of the policies that they're putting in place at the state level, Google is being a great advocate of, green tariffs , and so on.
So the other stuff has to be handled differently, either through compulsory licenses, through tariffs , through collective administration of rights, through Creative Commons licenses,
It also caused problems, because when I worked for Congress in 1994, we passed this law, the GATT, General Agreement on Tariffs and Trades, which took out,