This news podcast discusses the economic impact of potential tariffs on US businesses, particularly focusing on the uncertainty created by the threat of tariffs. The podcast features interviews with a soybean farmer and an economist, illustrating how tariffs affect different sectors. The farmer describes the negative impact of previous tariffs on soybean exports to China, leading to financial losses and a shift in crop production. The economist explains three ways uncertainty from tariffs affects businesses: uncertain costs, potential retaliatory tariffs, and the need for costly preemptive measures. Ultimately, the podcast highlights the real-world consequences of trade wars, showing how uncertainty, rather than just the tariffs themselves, significantly impacts businesses and farmers.
