Can tariffs make a country stronger? Do they really protect domestic industries, or can they end up hurting the very economies they are meant to
support?
In this episode of Talking Economics, new host Andrew Gardiner speaks with Oleg Itskhoki, Professor of Economics at Harvard University and recipient of the 2022 John Bates Clark Medal, about the economic forces shaping global trade, international relations, and public policy.
From US tariffs and competition with China to the future of global trade, Itskhoki explains why protectionist policies can have unexpected consequences, including stronger currencies, reduced exports, and growing economic uncertainty.
The conversation also explores government debt, the challenges of aging populations, and the growing tensions between generations over public spending.
Turning to Russia's war in Ukraine, Itskhoki reflects on the limits of economic sanctions, the importance of defence spending, and why economic theory suggests that investing in deterrence can help prevent conflict.
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- Audio url: https://open.spotify.com/embed/episode/7Hz6Njw3d7idZISwxbB3a7
