While Washington has become more hostile to globalization, Americans continue to buy foreign goods in record numbers. Lincicome notes that economic nationalism is “about an inch deep,” with support collapsing when Americans face higher prices for domestic products.

The conversation also explores the impact of tariffs on businesses and consumers. Lincicome explains that if certain tariffs are ruled illegal, companies could seek refunds totaling up to $175 billion, potentially through litigation rather than administrative action. Krugman emphasizes that while policy debates grab headlines, public perception and midterm politics may ultimately matter more than the details of trade law or corporate strategy.

From the immediate fallout of legal challenges to the broader question of how the U.S. navigates trade and globalization, Bremmer, Lincicome, and Krugman explore the delicate balance between politics, policy, and the economy—and what it could mean for American consumers, businesses, and the upcoming midterms.

Host: Ian Bremmer

Guests: Paul Krugman, Scott Lincicome

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