How to Win a Trade War, with Soumaya Keynes | IEA Interview

https://www.amazon.co.uk/How-Win-Trade-War-Economic/dp/103509018Xhttps://x.com/SoumayaKeynesIn this Institute of Economic Affairs podcast, IEA Managing Editor Daniel Freeman is joined by Soumaya Keynes, economics columnist at the Financial Times and host of The Economics Show, to discuss her new book How to Win a Trade War. They cover the collapse of the old rules based global trading system, why the US lost faith in the World Trade Organisation’s dispute settlement process, and how the first and second Trump administrations approached trade policy differently.The conversation examines whether tariffs actually reduce a country’s trade deficit, the difference between bilateral and current account imbalances, and why China’s rerouting of supply chains through third countries has complicated efforts to reshore manufacturing. Soumaya sets out the case for and against trade barriers from a UK perspective, including the pressure Britain may face to align with EU trade defences against Chinese imports, and discusses the growing argument for protecting domestic industrial capacity on economic security grounds, drawing on historical examples including Germany’s dye industry before the First World War.The Institute of Economic Affairs is a registered educational charity. It does not endorse or give support for any political party in the UK or elsewhere. Our mission is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems. The views represented here are those of the speakers alone, not those of the Institute, its Managing Trustees, Academic Advisory Council members or senior staff. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit economicaffairs.co.uk/subscribe