Intelligence Squared

How will Trump’s tariff war impact the global economy? With Philip Coggan

2025-07-17

What happens when the world’s biggest economy turns its back on global trade? In today's episode, host Adam McCauley is joined by renowned financial journalist and economist Philip Coggan to examine the far-reaching consequences of Donald Trump’s trade war. Drawing parallels with Churchill’s economic decisions in the early 20th century, Coggan argues Trump’s tariff measures and isolationist rhetoric argues that we are witnessing the dismantling of a global economic order that has underpinned interna...

What happens when the world’s biggest economy turns its back on global trade?

In today's episode, host Adam McCauley is joined by renowned financial journalist and economist Philip Coggan to examine the far-reaching consequences of Donald Trump’s trade war.

Drawing parallels with Churchill’s economic decisions in the early 20th century, Coggan argues Trump’s tariff measures and isolationist rhetoric argues that we are witnessing the dismantling of a global economic order that has underpinned international cooperation and prosperity since World War Two.

and reflections on income inequality, global credibility, and economic nationalism, this is a vital conversation for anyone seeking to understand what Trump’s trade war really means for the future of the global economy.

Drawing on insights from his new book The Economic Consequences of Mr Trump, Coggan explores how Trump’s shifting economic alliances, combative stance towards China, and disregard for multilateral institutions are reshaping the global financial landscape. Together, they discuss the weakening of the Western alliance, the future of US–UK relations, and how America’s trading partners — and rivals — might respond to this new era of unpredictability.

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