The Economics of TRUMP with Jacob Clifford- Part 1: Trade

Jacob Clifford discusses the impact of misinformation and media credibility on economic policies, using a fake news example about interstate trade. He explores protectionism, trade deficits, and the effects of globalization, emphasizing the importance of accurate information and diverse perspectives. Clifford argues that while protectionism may save some jobs, it leads to higher consumer costs. He highlights the benefits of international trade and the complexities of trading with countries lacking human rights or fair labor practices.

What are the potential consequences of high tariffs on American consumers?

Explain the concept of trade deficits and why they are not considered a big deal by economists.

What responsibilities do individuals have regarding understanding trade policies?