In this episode of the STRAT (Strategic Risk Assessment Talk) podcast, retired Marine Intelligence Officer LtCol. Hal Kempfer delves into the timely topic of tariffs and international trade. With a master's degree in international management, and work with U.S. Customs. Hal sheds light on the complex dynamics of tariffs in the global economy. He explains the historical context of trade agreements like NAFTA and the evolving nature of trade relations with countries such as China, Mexico, Canada, and the nations of the European Union. Hal discusses the political allure of tariffs and the concept of comparative advantage while offering insights into the implications of trade wars and protectionist policies. By exploring economic models and real-world examples, this episode unveils the intricate web of factors that influence global trade, highlighting the risks and potential disruptions associated with current trends.

Takeaways:

• Overview of tariffs and their impact on global trade.

• Insights into the historical context of trade agreements like NAFTA.

• Discussion of comparative advantage and its economic implications.

• Examination of trade relations between the U.S., China, Mexico, and the EU.

• Impact of political pressures and special interests on trade policies.

• Challenges posed by evolving labor costs and global finance systems.

• Risks of increased tariffs and their potential market disruptions.

• Analysis of protectionist policies and international competition.

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