How Unprecedented Is the New U.S. Tariff Policy?

The administration announced “reciprocal tariffs" this week, as well as a blanket tariff of 10% on foreign imports, with some exemptions, designed to respond to trade imbalances. Those follow a recent announcement of 25% tariffs on autos, effective this month, and earlier trade restrictions, including levies on steel and aluminum.

The changes mark a major inflection point in U.S. trade policy, with significant consequences, including higher costs for manufacturers and shippers, supply chain disruptions, and possible retaliation from both allies and adversaries.

How significant are these levies? Are tariffs as radical as they appear to be in the context of history? And, in the months and years ahead, how might markets, stakeholders, and the economy react based on past precedent?

On this episode of The Call, Douglas A. Irwin, a leading historian of U.S. trade policy, joins us to unpack these pressing questions, understand the potential impacts of this moment, and explain how it fits into the longer arc of American economic statecraft.

The Call is a series of live video conversations featuring expert guests from the U.S. Chamber's Global Intelligence Desk. Live access to The Call is a benefit to the Chamber’s members; however, we are pleased to provide recordings of the calls for wider viewing thereafter. Information on membership is available here.