#29 | The Art of the Tariff: Trump, Trade, and a Fictional Economist

In this episode, I unpack what tariffs actually are—where they come from, how they’ve been used throughout history, and why they matter now more than ever. I walk through the very first tariffs in ancient civilizations, explore their role in early American policy, and explain how they’ve both protected industries and triggered economic disasters.

We’ll look closely at how tariffs became a central tool in President Trump’s trade strategy, influenced by economist Peter Navarro (who literally created a fictional expert named “Ron Vara” to quote in his own book). I also break down Trump’s negotiation style from The Art of the Deal and how it played out in the escalating tariff war with China—plus the recent rollback that brought some of those tariffs down from triple-digit levels.

You’ll also hear what this means for you: how tariffs affect prices, jobs, and what ends up on store shelves.

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References

• U.S. Census Bureau. (2023). Trade in Goods with China. Retrieved from https://www.census.gov/foreign-trade/balance/c5700.html
  

• UPI. (2025, April 15). History shows tariffs like Trump's come with painful pitfalls. Retrieved from https://www.upi.com/Voices/2025/04/15/trump-tariffs-failures-pitfalls/8911744728908/
  

• Fordham Law Review. (2019, March 17). A Brief History of Tariffs in the United States. Retrieved from https://news.law.fordham.edu/jcfl/2019/03/17/a-brief-history-of-tariffs-in-the-united-states-and-the-dangers-of-their-use-today/
  

• Reuters. (2025, May 13). US slashes 'de minimis' tariff on small China parcels to as low as 30%. Retrieved from https://www.reuters.com/world/china/us-cut-de-minimis-tariff-china-shipments-54-120-2025-05-13/
  

• CBS News. (2025). What goods does China import from the U.S.? Retrieved from https://www.cbsnews.com/news/china-imports-from-the-us-oilseeds-grains-oil-gas/