Why economists hate Trump’s tariffs | If You're Listening

US President Donald Trump is hitting Canada and Mexico with 25% tariffs this weekend. Goods from China will get a 10% tariff. The European Union and Colombia are in the firing line too.
It is a move that is set to upset global trade markets and make the goods we all buy more expensive.
It is a move that would have huge implications for America’s economy and its relationship with its closest neighbours. President Trump is promising it’s just the beginning, and that this won’t make goods more expensive for Americans. It’s been a long time since most developed countries have used tariffs in this way, but there is one US ally with a recent memory of something like it. In this episode of If You’re Listening, what can we understand about tariffs from Australia’s recent past?
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