Brad Setser: Former US Department of Treasury Economist on the impact of Donald Trump's new tariffs

Donald Trump’s sweeping tariff announcement is being described as a shockingly radical shift in policy.   The US President announced 10% tariffs on almost all goods entering the US, including from New Zealand.  Many countries face much higher tariffs, including China with a combined 54% levy.  Former US Department of Treasury Economist Brad Setser told Mike Hosking it’s a fundamental break in the US’ post-WWII international economic policy approach and is an enormous political and economic risk.  He believes the magnitude of the tariff increase does threaten to push the US into a recession.  LISTEN ABOVE See omnystudio.com/listener for privacy information.