Episode 112: Tackling Tariffs

On the latest episode of Making Cents of Money, join economist Chasse Rehwinkel as he discusses tariffs’ impact on our history and how we can brace for the impacts of changing tariff policies in the present and future Show Notes Previous episodes with Chasse Rehwinkel: • Ep. 79, What Happens When a Bank Fails?: https://blogs.uofi.uillinois.edu/view/7550/1732000561 • Ep. 47, Community Reinvestment Act: https://blogs.uofi.uillinois.edu/view/7550/793516993 • Ep. 14, Short-selling: https://blogs.uofi.uillinois.edu/view/7550/433822269 • Ep. 2, Banked or Unbanked – Choosing Financial Services for You: https://blogs.uofi.uillinois.edu/view/7550/465787932 Recent Data and Reports • Budget Lab at Yale University. (2025, April 15). State of U.S. Tariffs: April 15, 2025. https://budgetlab.yale.edu/research/state-us-tariffs-april-15-2025 • Budget Lab at Yale University. (2025, April). Where We Stand: The Fiscal, Economic, and Distributional Effects of All U.S. Tariffs Enacted in 2025 Through April 2. https://budgetlab.yale.edu/research/where-we-stand-fiscal-economic-and-distributional-effects-all-us-tariffs-enacted-2025-through-april • Deloitte Insights. (2025, April). US tariffs impact economy. https://www2.deloitte.com/us/en/insights/economy/spotlight/united-states-tariffs-impact-economy.html • Tax Foundation. (2025, April). Trump Tariffs: The Economic Impact of the Trump Trade War. https://taxfoundation.org/research/all/federal/trump-tariffs-trade-war/ News Articles and Analysis • Cameron, H. (2025, April). 'Shark Tank' inventor tests whether people will pay more for "made in USA". Newsweek. https://www.newsweek.com/shark-tank-inventor-american-made-tariff-experiment-2064087 • LaRocco, L.A. (2025, April 12). Trump tariffs won't lead supply chains back to U.S., companies will go low-tariff globe-hopping: CNBC survey. CNBC. https://www.cnbc.com/2025/04/14/tariffs-wont-bring-manufacturing-back-to-us-supply-chain-survey.html Historical Context and Academic References • Duster, C. (2025, March 6). Did tariffs contribute to the Great Depression? Here's what to know. NPR. https://www.npr.org/2025/03/06/nx-s1-5318076/tariffs-great-depression-explainer • National Association of Manufacturers. (2025, April). Tariffs: 1930 Versus 2025. https://nam.org/tariffs-1930-versus-2015-33709/ • U.S. Department of State, Office of the Historian. (n.d.). Protectionism in the Interwar Period. https://history.state.gov/milestones/1921-1936/protectionism • U.S. Senate (n.d.). The senate passes the Smoot-Hawley tariff. https://www.senate.gov/artandhistory/history/minute/Senate_Passes_Smoot_Hawley_Tariff.htm Government Documents • White House. (2025, April). Regulating Imports with a Reciprocal Tariff to Rectify Trade Practices that Contribute to Large and Persistent Annual United States Goods Trade Deficits. https://www.whitehouse.gov/presidential-actions/2025/04/regulating-imports-with-a-reciprocal-tariff-to-rectify-trade-practices-that-contribute-to-large-and-persistent-annual-united-states-goods-trade-deficits/ • White House. (2025, April). Fact Sheet: President Donald J. Trump Declares National Emergency to Increase our Competitive Edge, Protect our Sovereignty, and Strengthen our National and Economic Security. https://www.whitehouse.gov/fact-sheets/2025/04/fact-sheet-president-donald-j-trump-declares-national-emergency-to-increase-our-competitive-edge-protect-our-sovereignty-and-strengthen-our-national-and-economic-security/