One way to contribute to economic thinking is to try to use economic ideas to explain how and why things work the way they do, explain and describe with as many details as you can what you see happening and how it relates to microeconomics.

This is a graded discussion. Before engaging in the discussion, you should listen to the podcast: Revenge of the Tariffs
https://www.npr.org/sections/money/2009/09/podcast_1.html

Helpful tip: one way to contribute to economic thinking is to try to use economic ideas to explain how and why things work the way they do, explain and describe with as many details as you can what you see happening and how it relates to microeconomics. Keep this in mind when responding to this prompt – and the prompt for all discussions.

Answer this Discussion Prompt: This week’s podcast is 2009, but it is very current in terms of discussing this idea of ‘revenge’ tariffs. How can you relate this podcast to current news about tariffs on steel and aluminum that President Trump has imposed
(https://www.businessinsider.com/trump-steel-aluminum-tariffs-poll-economist-survey-2018-3)?
From an economic thinking perspective, what are the negative impacts we would expect from this tariff on steel and aluminum? You might consider impacts on producers, consumers, ease of engaging in trade, or international relations. Give specific examples from the podcast, from the article linked, as well as your own ideas based on your learning so far in your answer.