Tariffs and trade: A turning point for globalization

Are we entering a new era of globalization?In this episode of Econ To Go, Neale Mahoney sits down with Stanford trade economist Stephen Redding to unpack the sharp escalation of U.S. tariffs in 2025 and 2026, and what it signals for the global economy. Redding explains why the scale of recent changes stands out historically, and how trade policy is becoming more persistent and more weaponized, shaped by concerns around supply chains, geopolitical tensions and critical technologies.The conversation also explores what tariffs are designed to do — and why economists often view them as a blunt tool, with costs that ripple through consumers, firms, and global trade flows. Along the way, we explore several key themes, including:(01:24) The scale of recent tariff changes(04:55) When tariffs are used, and why(14:30) The economist’s view of tariffs(19:58) The benefits of trade and who is left behind(26:56) Rethinking policy and the path forwardEcon To Go brings Stanford economics into your everyday life — served with a side of coffee. Hosted by economist and director of the Stanford Institute for Economic Policy Research (SIEPR), Neale Mahoney, the show takes you on a walk across campus with leading thinkers as they unpack the ideas shaping our economy, public policy, and daily lives. Smart, curious, and conversational — it’s Stanford economics, to go.The Stanford Institute for Economic Policy Research is a nonpartisan research center that brings together scholars, policymakers, and industry leaders to solve pressing economic challenges and inform better public policy.Never miss an episode. Subscribe to Econ To Go on Spotify, Apple Podcasts, Amazon, YouTube, or wherever you get your podcasts. Plus follow SIEPR on LinkedIn or X/Twitter for episode updates and research highlights, or explore more at siepr.stanford.edu.Today’s guest, Stephen Redding, is the Kleinheinz Family Professor of International Studies and a professor of economics at Stanford University, as well as a senior fellow at the Stanford Institute for Economic Policy Research. His research focuses on international trade, economic geography, and the impact of globalization on local economies. To learn more about his work, explore these links:Stephen Redding websiteThe Economics of Tariffs