Understanding Trump’s Tariff Strategies as ‘Liberation Day’ Approaches

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• 00:01

  Hey, what's news, listeners?

• 00:03

  It's Sunday, March 30th.

• 00:04

  I'm Alex Osola for the Wall Street Journal.

• 00:06

  This is what's News Sunday,

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  the show where we tackle the big questions about the biggest stories in the news by reaching out to our colleagues across the newsroom to help explain what's happening in our world.

• 00:16

  This week, we're talking tariffs.

• 00:18

  We're just a few days away from April 2, or Liberation Day,

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  as President Trump has called it, when he plans to lay out a slate of reciprocal tariffs.

• 00:27

  Today,

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  we're digging into how tariffs have been used in the past and whether they achieved their goals.

• 00:33

  It's no secret that President Trump loves tariffs.

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  I always say tariffs is the most beautiful word to me in the dictionary.

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  Trump's reasons for imposing tariffs go beyond pure emotion.

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  He considers them to be fair,

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  arguing that the US Needs tariffs to match the duties and trade barriers

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  that other countries impose on American products.

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  The president has said that he wants tariffs in order to reduce the trade deficit,

• 00:58

  that is, to close the gap between how much the US Imports and exports.

• 01:02

  According to the most recent data available, in January,

• 01:05

  the US Reached a new record for importing more goods than it exports.

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