The UW Now Livestream: The Costs of U.S. Isolationism

Tariffs are likely to raise the price of things. But then that’s the goal of tariffs. The collection of tariffs that the Trump administration has proposed in early 2025 may also cause rifts with international allies. On the UW Now Livestream, economists Mike Knetter and Professor Lydia Cox and political science professor Jon Pevehouse discussed the possible impacts of tariffs. Knetter looked at the history of free trade and tariffs. Cox discussed the ways in with tariffs have a ripple effect — although a tariff may protect one domestic industry, it does so at the expense of others. Pevehouse looked at the current round of tariffs in context of America’s international relations. The threat of tariffs may work in pushing other countries to take actions that the United States wants, but the threat could backfire. The three speakers then take questions from viewers. The UW Now Livestream is a monthly program produced by the Wisconsin Foundation and Alumni Association, with Knetter as host and speakers drawn from UW–Madison faculty and alumni.


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