Trump's tariffs explained

Coffee House Shots

The Spectator

News, Politics, Government, Daily News

4.4 • 2.1K Ratings

🗓️ 3 April 2025

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

It's the day after America 'reclaimed it's destiny', or so Donald Trump says. The President announced a raft of 'reciprocal' new tariffs from the White House rose garden, including a 10% levy on the UK which – before it comes into effect on 5th April – the government hope to negotiate down.

Other countries have come off much worse. China, for example, will experience a 34 per cent ‘discounted reciprocal tariffs’, compared to the 67 per cent Trump claims China puts on US goods. The European Union will experience 20 per cent levies, compared to the 39 per cent Trump also says is put on US goods. ‘We’re a very kind people, we’re very kind,’ the President said of Americans. But ‘not so kind when you get ripped off’. The EU says they have a 'strong plan' to retaliate, how might this jeopardise Starmer's European reset? And is the UK's lower rate a rare example of a Brexit benefit?

Oscar Edmondson speaks to Katy Balls and Freddy Gray.

Produced by Oscar Edmondson.

Transcript

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0:00.0	This episode of Coffee House Shots is sponsored by Alliance Witten Investment Trust. From the OPEC
0:06.0	Oil Crisis of the 1970s, the financial crash in 2008, to the COVID epidemic and Liz Truss's
0:13.1	doomed premiership. There has been no shortage of economic crises over the last 58 years. And yet,
0:19.6	throughout that time, every single year, without fail,
0:22.8	we've paid out an increased dividend to our shareholders. In fact, Alliance Witten's history
0:28.3	dates all the way back to 1888. And today, we manage around £5 billion in assets.
0:35.5	If you're looking for a less stressful way to invest in stocks and shares,
0:39.2	learn more about Alliance Witten and find your comfort zone.
0:46.5	Hello and welcome to Coffee House Shots, the Spectator's Daily Politics Podcast. I'm
0:50.8	Oskredminton and I'm joined today by Katie Balls and Freddie Gray. And it is the day
0:55.5	after America reclaimed its destiny, or so Donald Trump says. Yesterday evening, UK time,
1:01.6	he announced a raft of new tariffs from the White House Rose Garden. Let's hear a clip.
1:06.8	April 2nd, 2025 will forever be remembered as the day American industry was reborn,
1:14.2	the day America's destiny was reclaimed, and the day that we began to make America wealthy again.
1:23.1	Going to make it wealthy, good and wealthy.
1:26.5	Now, Freddie, better than expected or worse than inspected?
1:30.6	Depends who you ask.
1:32.1	If you're Donald Trump.
1:33.7	I don't think there is a general consensus because I think there's still a lot of confusion.
1:39.0	I think Trump likes to present things simply.
1:42.0	That's why he had the board.
1:43.7	Theatrically and simply is his style.
	...

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