Teflon Don: can the economy withstand a Trump shock?

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• 00:08

  Food prices were expected to drop.

• 00:11

  With the end of the Napoleonic Wars,

• 00:14

  England would be able to once again trade and import cheaper food.

• 00:19

  But the Corn Laws of 1815 blocked that from happening.

• 00:24

  Wheat, barley and oats became prohibitively expensive.

• 00:28

  People rioted.

• 00:30

  But the tariffs remained in place for 30 years.

• 00:34

  President Trump is back on his tariff kick.

• 00:37

  And if they go into effect, countries have no idea how long these ones will last.

• 00:45

  I'm John Prudhoe, and this is Checks and Balance from The Economist.

• 00:52

  Each week, we take one big theme shaping American politics and explore it in depth.

• 01:06

  Today, can the US economy withstand Donald Trump's tariffs?

• 01:19

  He's imposed, suspended, increased, threatened, you name it.

• 01:23

  And now he says they're back and will go into effect in August.

• 01:28

  Inflation has ticked up, albeit slightly.

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  Will it get worse?

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  And what does that mean for his supporters,

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  who chose him partly because he promised to lower prices?

• 01:54

  With me this week to talk about the amazing resilience and strength of the American economy and what that means for Donald Trump and American politics more broadly are James Bennett,

• 02:04

  who's in the New York Bureau, and Charlotte Howard,

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