Trump’s ‘Beautiful’ Tariffs Foreshadow a Big Policy Experiment

I’m Chris Anstey, an economics editor in Boston. Today we’re looking at Donald Trump’s proposed economic framework. Send us feedback and tips to ecodaily@bloomberg.net or get in touch on X via @economics. And if you aren’t yet signed up to receive this newsletter, you can do so here.

Import substitution was a cutting-edge economic policy idea in the 1950s, championed by Argentine economist Raul Prebisch. By the 1960s, his home nation took tariff rates to around 200% — but its legacy of debt defaults over the decades showcases how it proved no magic solution.