The U.S. and its trading partners will soon feel the effects of new tariffs announced by President Donald Trump. The tariffs—targeting 66 countries, the European Union, Taiwan, and the Falkland Islands—will take effect on August 7. For most nations, the base rate will remain 10%, but countries with larger trade imbalances will see rates rise to 15% or higher. This will impact many goods purchased, as part of an effort to bring more jobs back to America. Critics argue it could drive up prices and hurt economic growth. To provide insight, Meredith Crowley, Professor of Economics at the University of Cambridge and specialist in international trade, joins us to assess which goods may be most affected, who got the better end of the deal—the U.S. or the EU—and whether the tariffs will lead to new factory jobs in the United States.

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