World War Trade – How tariffs became Trump’s weapon of economic destruction

The eye-watering “Liberation Day” trade tariffs that Trump unleashed on the world on April 2, 2025, are about to expire after the US Supreme Court ruled the President had overstepped his powers. But the damage they’ve caused continues to reverberate. For economists, Trump’s tariffs began World War Trade, a dangerous new era of predatory trade and protectionism. How did tariffs become Trump’s weapon of choice? And is his trade war a total bust? Professor of international economics at IMD Business School Richard Baldwin unpacks the truth about Trump’s tariff policy with Emma Kennedy. 

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 • Read Richard’s book World War Trade: Conflict, Containment and the Emergent World Trading Order 

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Written and presented by Emma Kennedy. Producer: James Liddell. Audio production: Robin Leeburn. Managing Editor: Jacob Jarvis. Group Editor: Andrew Harrison. Music by Kenny Dickinson. THE BUNKER is a Podmasters Production.

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