Here’s a summary of the provided text, focusing on the key points made by each expert regarding Trump’s trade policies:
The National Press Foundation, sponsored by the Hinrich Foundation, hosted a webinar with four experts discussing the economic uncertainty and legal challenges arising from Trump’s trade approach.
Deborah Elms (Hinrich Foundation): Highlighted the cumulative instability caused by Trump’s actions,stating that trade disruption is significant and far from stabilizing. She believes the disordered waves of trade disruption will continue as long as Trump is in office, and the damage from sector-specific sanctions is occurring rapidly.
David Lynch (The Washington Post): Expressed concern that markets might be misinterpreting the situation, suggesting that Trump and investors could be learning the wrong lessons. He challenged the idea that Trump always backs down, believing the president is serious about a 10% baseline tariff on all imports. Lynch anticipates a fundamentally altered trading system with unclear future characteristics.
Dennis Shea (Former Deputy US Trade Representative): Argued that Trump is delivering on his campaign promises, including global tariffs and increased tariffs on China. Shea emphasized Trump’s use of the US consumer market as leverage for balanced trade, industrial protection, and increased federal revenue, noting that tariffs had already generated over $100 billion in the past year. He believes Trump is rewriting the rules of global trade.
Jeffrey Schwab (Liberty Justice Center): Focused on the legal challenges, noting a court ruling against Trump’s global tariff strategy, which found the president exceeded his authority under the international Emergency Economic Powers Act. Schwab asserted that Congress, not the president, holds the tariff power in the US constitutional government. The case is on appeal and could reach the Supreme Court, with Schwab warning that the world economy is at stake.
the panel collectively depicted a trade environment characterized by unpredictability, legal conflict, and structural shifts, with trump’s policies expected to significantly reshape global commerce for years to come.
