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Today, Explained

The nostalgia economy

Tue, 08 Apr 2025

Description

President Donald Trump’s tariffs are meant to return America to a throwback economy — and culture. An economist who advises the White House makes the case for why looking to the past is the best plan for the future. This episode was produced by Miles Bryan, edited by Jolie Myers, fact-checked by Amanda Lewellyn, engineered by Patrick Boyd and Andrea Kristinsdottir, and hosted by Noel King. Further reading: The powerful force behind Trump's tariffs. Transcript at vox.com/today-explained-podcast Support Today, Explained by becoming a Vox Member today: http://www.vox.com/members President Trump during his “Make America Wealthy Again” trade announcement event last week. Photo by Chip Somodevilla/Getty Images. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Audio
Transcription

What are Trump's tariffs and their intended impact on American manufacturing?

0.58 - 22.216 Noel King

President Trump said on Truth Social today that he had a great call with South Korea's leader aimed at making a deal on the tariffs that have set the global economy on edge. In that same post, Trump said he's waiting for China to call. The administration says these Liberation Day tariffs will bring manufacturing jobs back to America. Why is that so important?

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22.916 - 33.18 Noel King

There are some really dumb ways to answer that question. When you sit behind a screen all day, it makes you a woman. Studies have shown this. Studies have shown this. And some much smarter ones.

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33.32 - 43.224 White House Advisor

This is a policy at the end of the day that's oriented toward helping some of the folks who have really been the losers in the economy and have been left behind for a long time.

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43.524 - 49.794 Noel King

Coming up on Today Explained, the best minds. The White House advisor who's gone ham on tariffs defends his position.

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60.925 - 82.249 Megan Rapinoe

Megan Rapinoe here. This week on A Touch More, we are launching our much-anticipated book club, and we're doing it with Abby Wambach and Glennon Doyle, who will introduce their upcoming book, We Can Do Hard Things, Answers to Life's 20 Questions. Plus, we've got some fun and important updates from The W and the NWSL, and of course, we've got a new Are You a Megan or Are You a Sue?

82.529 - 86.35 Megan Rapinoe

Check out the latest episode of A Touch More wherever you get your podcasts and on YouTube.

89.986 - 93.641 Unknown Speaker

I always say tariffs is the most beautiful word to me in the dictionary.

95.194 - 116.583 Noel King

It's Today Explained. I'm Noelle King. Senior correspondent Eric Levitz recently wrote for Vox about the nostalgia that the Trump administration feels for a time when American manufacturing was at its peak. Manufacturing things in the U.S. makes a lot of sense if we're talking about stuff that we want to get ahead on, cutting-edge technologies like semiconductor chips, for example.

117.063 - 121.245 Noel King

It's arguably a pretty good idea to put tariffs on chips that are coming in from elsewhere.

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