Скачать или смотреть The Big 3: Who Pays the Tariffs?, Canada Cozies to China, South Korea Scrambles Amid Tariff Threat

In this week's episode of The Big 3, senior economists Mihir Torsekar and Andrew Rechenberg examine three major trade and economic issues shaping the U.S. affordability debate and global trade dynamics.

The hosts challenge claims that U.S. tariffs are overwhelmingly paid by American consumers, pushing back on a widely cited Kiel Institute study. Their analysis shows that large retailers often absorb tariff costs, while foreign exporters frequently lower prices in local currency to preserve access to the U.S. market, blunting consumer impact. The discussion turns to inflation and affordability, arguing that rising costs are driven far more by housing, energy, and stagnant wages than by tariffs on imported goods, which contribute minimally to recent inflation.

Next, the episode explores growing trade tensions as Canada and the EU pivot toward China and other markets, and as the U.S.–South Korea trade agreement frays. The hosts argue these developments expose the limits of negotiated free-trade deals and underscore the need for a more consistent, managed trade approach anchored in U.S. industrial and national security priorities.