In this episode, we dive into the intricate world of tariffs, focusing on the measures implemented by Donald Trump. We'll explore the rationale behind these tariff increases, comparing them to historical precedents in U.S. history. Our discussion will cover the direct and indirect impacts on the U.S. economy, including effects on growth, employment, and consumer prices. We'll also examine China's retaliatory actions and their potential consequences for trade relations and the Chinese economy. Additionally, we'll consider the broader economic repercussions for other affected countries, such as Canada, Mexico, and the European Union, and discuss how these tariff measures might influence global trade and the role of the World Trade Organization (WTO). Our guest for this episode is Johannes Boehm, Professor of International Economics here at the Geneva Graduate Institute and also a research fellow of CEPR (London) and CEP, LSE. He conducts research and teaches on topics related to international trade, industrial development, growth, firms, as well as on macroeconomics and environmental economics.