Evidence receipt / uncertainty
Published · transcript-backedKenneth Rogoff: uncertainty
30 Apr 2025 Conversations with Tyler Kenneth Rogoff on Monetary Moves, Fiscal Gambits, and Classical Chess
“To a first approximation, if we put on a — I don’t know, whatever it is — 20 percent tariff, it has an effect on our exchange rate of making it go up, which makes our exports more expensive and makes their goods less expensive.”
Source trail
Everything needed to verify it.
- Speaker
- Kenneth Rogoff
- Attribution
- Verified speaker
- Claim type
- uncertainty
- Recorded
- 30 Apr 2025
- Publisher
- Conversations with Tyler
Transcript context
…We’re in the midst of some tariff debates right now, as you know. One argument I hear, sometimes, even from the anti-tariff people, is that if the US puts higher tariffs on China, the Chinese currency just depreciates. The dollar strengthens. There isn’t that much of a net effect because, arguably, they’re propping up their currency some amount now. Do you agree with that? What you said is exactly right. To a first approximation, if we put on a — I don’t know, whatever it is — 20 percent tariff, it has an effect on our exchange rate of making it go up, which makes our exports more expensive and makes their goods less expensive. I don’t want to get wonky, but if you did it on the whole world — You can get wonky.…
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