This episode of Coffee House Shots is sponsored by Alliance Witten Investment Trust. From the OPEC

Oil Crisis of the 1970s, the financial crash in 2008, to the COVID epidemic and Liz Truss's

doomed premiership. There has been no shortage of economic crises over the last 58 years. And yet,

throughout that time, every single year, without fail, we've paid out

an increased dividend to our shareholders. In fact, Alliance Witten's history dates all the way back to

1888. And today, we manage around £5 billion in assets. If you're looking for a less stressful way

to invest in stocks and shares,

learn more about Alliance Witten and find your comfort zone.

Hello and welcome to a special Saturday edition of Coffee House Shots.

I'm Michael Simmons, the Spectator's Economics Editor,

and I'm joined today by the Spectator's US Deputy Editor, Kate Andrews and Ted Perrick from the Financial Times.

Globalisation's obituary has been written many times before, but with the economic

turmoil caused by Trump's tariffs over the past few weeks, we ask, is this the beginning of

the end of globalization? And before we dive into that, let's hear from the man himself, Donald

Trump.

If you don't make your product here, then you will have to pay a tariff, a very substantial tariff when you send your product into the United States.

I say the most beautiful word in the entire dictionary of words is the word tariff. I love tariff.

Right now China is paying a 104% tariff. Now it sounds ridiculous, but they charge dust

for many items 100%, 125%.

Many countries have.

They've ripped us off left and right.

But now it's our turn to do the rippin'.

...