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Zanny Minton-Beddoes

๐Ÿ‘ค Speaker
398 total appearances

Appearances Over Time

Podcast Appearances

Fresh Air
Confused By The U.S. Economy? You're Not Alone

They're worried that President Trump would no longer be committed to the NATO alliance or indeed might try and push a very pro-Russia peace in Ukraine.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

And so

Fresh Air
Confused By The U.S. Economy? You're Not Alone

Where the US has clout in this administration is very effectively using it.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

There's a phrase that I've heard used to describe this, which is that the US is monetizing its military and economic power.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

And the way the Trump administration would describe it, they would say, look, the international system was essentially rigged against us.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

And we are, you know, moving the goalposts more in America's direction.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

We're getting a fairer deal for America.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

But they make no apology about the fact that they are using America's power to push other countries to do something differently.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

But I think in the case of China, it's proving hard to do because China also has power.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

Yes, it is.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

But I think to be fair to the administration, I think President Trump has identified something that he sees as an unfairness, which is that global drug companies sell their drugs more cheaply in other countries than they do in the United States.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

The United States is the biggest market.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

It's the place where the newest and best drugs come to market first.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

But consumers pay more in the United States.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

Whereas in somewhere like in the UK, where I'm from, where we have the National Health Service, the National Health Service drives a very hard bargain with drug companies and will only agree to buy drugs if they feel that they are not just effective, but also cost effective.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

And so they end up forcing the drug companies to sell at a much cheaper price.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

And

Fresh Air
Confused By The U.S. Economy? You're Not Alone

The Trump administration has basically said this is not fair on Americans.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

We're being ripped off.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

But the sort of remedy that he has proposed, as you've described, of tariffs is not one that is going to help this.