What’s behind the Trump tariff blitz – and where is it taking the global economy? In this episode of The Civic Podcast, host and law professor Markus Wagner is joined by trade expert Dr. Deborah Elms of the Hinrich Foundation to unpack the chaos and consequences of Trump’s tariff trade strategy. What’s really driving this sudden escalation? From a fixation on trade deficits, a disregard for political, constitutional and legal process, and operating outside of traditional economic parameters we explore why tariffs have become Trump's favorite tool and what the ensuing uncertainty means for global supply chains, American consumers, and U.S. allies and rivals alike.Markus Wagner and Deborah Elms break down how this tariff storm is not just reshaping trade – it’s destabilizing it. Whether you're a policy wonk or just trying to make sense of the headlines, this episode is your essential guide to understanding the past, present, and uncertain future of global trade.
Links:
Oren Cass, Stop Freaking Out. Trump’s Tariffs Can Still Work, New York Times, 8 April 2025
Douglas Irwin, Even Americans Don’t Want Trump’s Barmy Tariffs, The Economist, 3 April 2025
Mari Pangestu and Shiro Armstrong, What ASEAN can do to help avoid the US taking the system down with it, Channel News Asia, 23 April 2025
Adam Posen, Trade Wars Are Easy to Lose, Foreign Affairs, 9 April 2025
Ana Swanson and Tony Room, Trump Moves to Put New Tariffs on Computer Chips and Drugs, New York Times, 14 April 2025
Markus Wagner, These 3 Arguments are Part of the Long Game in Trump’s Trade Wars, The Conversation, 31 March 2025
James Crabtree, Trump’s Tariffs Will Pay Off, for China, New York Times, 22 April 2025,
Recommendations:
Instead of our usual recommendations, Deborah Elms and Markus Wagner put together a list of writers, academics and commentators to follow. This list is by now means exhaustive.
Richard Baldwin: IMD, LinkedIn, X/Twitter
Alan Beattie: Financial Times, LinkedIn
Shawn Donnan: Bloomberg, LinkedIn, X/Twitter
Simon Evenett: IMD, LinkedIn, X/Twitter
Ana Swanson: New York Times, X/Twitter
Follow Us on Socials: ✅https://www.youtube.com/@TheCivicPodcast1✅https://x.com/TheCivicPodcast✅https://www.instagram.com/thecivicpodcast✅https://bsky.app/profile/thecivicpodcast.bsky.social✅https://www.linkedin.com/company/the-civic-podcastMarkus Wagner (https://markusawagner.com/about/) is Professor of Law at the University of Wollongong (https://scholars.uow.edu.au/markus-wagner) and has advised the private sector, governments and international organizations. An award-winning instructor, his academic work and consulting are focused on the intersections of international trade law and governance, and international peace and security, as well as US and Australian constitutional law. Professor Wagner is a sought after commentator on TV, radio and other news outlets (https://markusawagner.com/media). Dr Deborah Elms (https://www.linkedin.com/in/deborah-elms) is the Head of Trade Policy at the Hinrich Foundation in Singapore (https://www.hinrichfoundation.com/profiles/experts-contributors/deborah-elms/). She previously founded and led the Asian Trade Centre and served as President of the Asia Business Trade Association. She has held senior roles in trade policy and research, including heading the Temasek Foundation Centre for Trade & Negotiations and serving as senior fellow at Nanyang Technological University. Deborah serves on several international advisory boards related to trade, including UNESCAP’s Trade and Investment Negotiation Adviser.