What Trump gets wrong about trade | That’s Business with Alan Kohler

Donald Trump is rewriting the rules of global trade, using tariffs as political weapons and up-ending decades of economic orthodoxy.

At the same time, trade routes themselves have become central to the war in Iran, with the Strait of Hormuz sitting at the heart of the conflict.

So what does someone who has spent his career understanding the politics and economics of trade make of all this disruption?

Former Australian trade negotiator and author of Why Politicians Lie About Trade, Dmitry Grozoubinski joins Alan Kohler on That’s Business with Alan Kohler to unpack Trump’s trade war, Mark Carney’s retaliation from Canada, and what the upheaval could mean for Australia and the global economy.

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Note: In most cases, our captions are auto-generated.

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0:00 The politics of trade
1:21 Why politicians lie
3:54 Tariffs and trade reality
7:16 The shift in global trade
9:41 Negotiation and concessions
12:02 Strategy for trade wars
14:35 Tariffs as revenue tools
16:16 Australia’s trade position
18:08 Conflict and trade
19:59 The Chinese economic model
23:28 The myth of manufacturing
25:51 Geopolitical risks
29:22 The role of the WTO
32:25 AI and future outlook