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Trump’s “Liberation Day” tariffs were even bigger than expected, with manufacturing hubs such as Vietnam and Cambodia facing rates nearing 50 percent. Global stock markets slumped in response. Perhaps more surprisingly, the dollar also declined against other currencies, suggesting fears about fading U.S. growth. TAKE OUR SURVEY: What do you think about FP Live? How can we make it better? What premium content are you interested in? Who would you like on? A few minutes of your time helps shape the future of FP Live. We value your feedback: https://www.surveymonkey.com/r/H3C89Q8 Despite the adverse market signals, Trump’s economic advisors and allies continue to insist that while the president’s policies may impose short-term pain, they will ultimately strengthen U.S. manufacturing and make room for large individual tax cuts. Join FP Live for a debate on the impacts of Trump’s sweeping tariff plan. Oren Cass is a leading conservative economist, and Kimberly Clausing, an economist and professor at UCLA. The two argued the impacts and repercussions of Trump’s newly announced tariffs. On the go? Listen to FP Live as a podcast at https://link.chtbl.com/foreignpolicyl... or wherever you get your podcasts. This full FP Live interview is available free for our YouTube audience. FP Live is Foreign Policy's forum for live journalism that brings leading foreign-policy experts and thinkers together to analyze the world's biggest events. Visit http://foreignpolicy.com/live for more live journalism from Foreign Policy. #tariffs #trump #foreignpolicy Subscribe to Foreign Policy's Youtube Channel: / @foreign-policy Visit http://foreignpolicy.com/ to read the latest global news and analysis from FP. Follow Foreign Policy: Twitter - / foreignpolicy Instagram - / foreignpolicymag Facebook - / foreign.policy.magazine LinkedIn - / foreign-policy-magazine TikTok - / foreignpolicymagazine