1: The Damage of Trump’s Tariffs, Explained

In the first episode of “The Two-Handed Economist,” John Diamond — director of the Center for Tax and Budget Policy at Rice University’s Baker Institute for Public Policy — dives into the economic fallout from the Trump administration’s sweeping new tariffs. He unpacks the market turmoil, rising consumer costs, and global retaliation, arguing that these policies may do more harm than good. With a focus on historical lessons and practical alternatives, Diamond lays the foundation for this new podcast by bringing clarity to complex economic issues. Mentioned: “Innovation and Trade Policy in a Globalized World” by Ufuk Akcigit (University of Chicago, NBER, CEPR), Sina T. Ates (Federal Reserve Board), and Giammario Impullitti (University of Nottingham), 2021. This episode was recorded on April 15, 2025 at 10:00 am CT. You can find the transcript here. You can follow @BakerInstitute on X, Instagram, LinkedIn, and YouTube, and learn more about our data-driven, nonpartisan policy research and analysis at bakerinstitute.org.