US President Donald Trump has made tariffs a key part of his second administration. Uncertainty about Trump's tariff policy has contributed to concerns about the impact on the US economy and stock market (^DJI, ^IXIC, ^GSPC).
Market Domination Hosts Josh Lipton and Julie Hyman sit down with the author of Chokepoints: American Power in the Age of Economic Warfare, Edward Fishman, to discuss how Trump is using tariffs as a policy tool.
"Tariffs throughout history have really been used more as an economic tool either to raise revenue ... sometimes to protect industries domestically from foreign competition," Fishman says.
"The thing that's a little different about how President Trump is proposing to use tariffs [is] he's trying to use them as a tool of economic warfare to pressure the Canadians and Mexicans to stop the flow of fentanyl across the US border, to pressure China from stopping to send fentanyl to the United States," the author explains.
Watch the video above to learn about how Trump's tariff policy mirrors sanctions, the impact of tariffs on imports from Mexico and Canada, and more.
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This post was written by Naomi Buchanan.