Pissarides Says U.S. Metal Import Tariffs a `Crazy Idea'

The transcript discusses the impact of social media on diplomacy, highlighting how it affects the perception of authority and political reactions. It then shifts to the potential economic consequences of US tariffs on steel and aluminum, expressing concerns about a possible trade war. The discussion also touches on the paradox between politics and monetary policy, noting a shift towards unpredictability in politics while monetary policy offers forward guidance.

How has social media changed the nature of politics according to the discussion?

• It has made politics more predictable.

• It has increased the authority of political leaders.

• It has reduced the influence of the internet.

• It has altered political reactions and perceptions of authority.

What is the main concern about the US imposing tariffs on steel and aluminum?

• It will only affect the technology sector.

• It will have no impact on international relations.

• It may lead to a trade war affecting the global economy.

• It will boost the US economy significantly.

Which industries are mentioned as areas where the US should focus to gain a comparative advantage?

• Robotics and artificial intelligence

• Textiles and agriculture

• Automobile and construction

• Steel and aluminum

What is the paradox mentioned between politics and monetary policy?

• Both politics and monetary policy are now unpredictable.

• Politics is now unpredictable, while monetary policy provides forward guidance.

• Monetary policy is now unpredictable, unlike politics.

• Politics is becoming more predictable while monetary policy is not.

What does the 'America first' policy require according to the discussion?

• A chaotic international context

• An orderly international context

• Isolation from global trade

• Focus on traditional industries only