Kimberly Clausing Talks Economic Policy Mastering The Room podcast

Tariffs have been a part of U.S. economic policy since its inception.
Historically, tariffs were a significant source of revenue for the U.S. government.
The burden of tariffs is primarily borne by consumers, not foreign producers.
Tariffs can hurt U.S. manufacturing by increasing the cost of intermediate goods.
The interconnected nature of the global economy makes tariffs less effective.
Tariffs can lead to retaliatory measures from other countries, harming U.S. exports.
Trade deficits are a result of savings and investment imbalances, not just poor trade policies.
Revenue from tariffs is often offset by negative economic impacts.
Protective tariffs do not lead to lower prices for consumers.
Historical examples, like the Smoot-Hawley Tariff, show the dangers of isolationist policies. Trade wars harm both domestic and international economies.
Presidents have gained more power to implement tariffs unilaterally.
Congress holds the constitutional authority over tariffs but often does not exercise it.
The legal basis for many proposed tariffs is weak and often challenged.
Retaliatory tariffs can lead to a trade war, harming exporters and consumers alike.
Economic policies should consider the broader implications on international relations.
Tariffs disproportionately affect the poor and middle class by raising prices.
Collaboration with allies is crucial in addressing issues with adversarial countries.
Expert consensus among economists largely opposes tariffs as effective policy.
The discourse around tariffs reflects a troubling divide between expert opinion and public sentiment.

Chapters

00:00 Understanding Tariffs and Economic Policy
03:06 Historical Context of Tariffs in the U.S.
06:08 The Mechanics of Tariffs: Who Really Pays?
09:03 Tariffs and U.S. Competitiveness: A Double-Edged Sword
12:02 The Global Economy: Interconnectedness and Tariffs
14:52 Who Benefits from Tariffs?
18:12 Trade Deficits and Revenue: Myths and Realities
20:48 The Impact of Tariffs on Consumers
23:49 Lessons from History: The Great Depression and Tariffs
25:39T he Consequences of Trade Wars
29:10 Presidential Power and Tariff Authority
32:41 Tariffs as Economic Leverage
37:49 The Role of Allies and Retaliation

42:48 Expert Consensus on Tariffs

ABOUT MASTERING THE ROOM

Mastering the Room is produced by the George Washington University's Graduate School of Political Management and hosted by political analyst and professor Casey Burgat. In less time than the average D.C. morning commute, you'll get an inside take on today’s issues with information and perspectives you won’t get anywhere else.

MTR challenges guests to go beyond the Sunday show talking points and offer a deeper understanding of polarizing topics, discussing ideas that few have heard before.

Whether you agree with them or not, you’ll see unique arguments from surprising new angles. Packed with influencers, experts, and familiar names in DC and beyond, Mastering the Room is a podcast with access, connections, and proximity to power.

To listen to vintage episodes from the original Mastering the Room podcast, click here.

ABOUT CASEY BURGAT

Mastering the Room host, Casey Burgat, is the Director of the Legislative Affairs program at the George Washington University Graduate School of Political Management.

Before joining GSPM, Dr. Burgat was a Senior Governance Fellow at the R Street Institute where his research focused on issues of Congressional capacity and reform. Mr. Burgat is known for his regular contributions to scholarly and journalistic publications, including CNN, the Washington Post, and Politico, and has appeared on various television and radio outlets.

Dr. Burgat is the author of the 2025 Amazon best-seller We Hold These "Truths," exploring society's myths and misconceptions about how government works (published by Authors Equity). He's also co-authored Congress Explained: Representation and Lawmaking in the First Branch, a textbook on all things Congress, published by Sage/CQ Press in the fall of 2022.

Tariffs have been a part of U.S. economic policy since its inception.
Historically, tariffs were a significant source of revenue for the U.S. government.
The burden of tariffs is primarily borne by consumers, not foreign producers.
Tariffs can hurt U.S. manufacturing by increasing the cost of intermediate goods.
The interconnected nature of the global economy makes tariffs less effective.
Tariffs can lead to retaliatory measures from other countries, harming U.S. exports.
Trade deficits are a result of savings and investment imbalances, not just poor trade policies.
Revenue from tariffs is often offset by negative economic impacts.
Protective tariffs do not lead to lower prices for consumers.
Historical examples, like the Smoot-Hawley Tariff, show the dangers of isolationist policies. Trade wars harm both domestic and international economies.
Presidents have gained more power to implement tariffs unilaterally.
Congress holds the constitutional authority over tariffs but often does not exercise it.
The legal basis for many proposed tariffs is weak and often challenged.
Retaliatory tariffs can lead to a trade war, harming exporters and consumers alike.
Economic policies should consider the broader implications on international relations.
Tariffs disproportionately affect the poor and middle class by raising prices.
Collaboration with allies is crucial in addressing issues with adversarial countries.
Expert consensus among economists largely opposes tariffs as effective policy.
The discourse around tariffs reflects a troubling divide between expert opinion and public sentiment.