Why Trump's tariff chaos actually makes sense (big picture)

Get access to global coverage at an exclusive 20% discount at https://economist.com/moneymacro Further reading mentioned in the video: Scott Bessent’s essay: https://www.economist.com/by-invitation/2024/10/23/the-international-economic-system-needs-a-readjustment-writes-scott-bessent Two ex-Biden advisors on the global trading system: https://www.economist.com/by-invitation/2025/03/25/the-global-trading-system-needs-new-rules-not-tariffs-say-wally-adeyemo-and-joshua-zoffer If you appreciate the research, consider buying me a 'coffee' at https://ko-fi.com/moneymacro or supporting long-term for membership benefits via Patreon: https://www.patreon.com/moneymacro WANT AN IN-DEPTH INDUSTRIAL POLICY MASTERCLASS? △ https://school.moneymacro.net/p/industrial-policy-masterclass LIKE CHATTING ECON WITH ME? △ Follow me on Twitter: https://twitter.com/joerischasfoort △ Follow me on LinkedIn: https://www.linkedin.com/in/joeri-schasfoort/ △ I have a private Discord server for Senior and Chief economist Patrons / members. SOURCES: I've linked my sources in the blog that goes along with this video. Links are in the text. https://www.moneymacro.rocks/2025-04-03-Trump-plan/ Timestamps: 00:00 Intro 02:12 What does the Trump team actually want? 05:12 A brief history of the US led global order 08:25 The Triffin dilemma 13:24 The MAGA masterplan for a new global order 22:41 Conclusion and sponsor Attribution: Music by Epidemic Sound: http://nebula.tv/epidemic Thank you to AP Archive for access to their archival footage. Stock footage and others clips by Getty Narrated and produced by Dr. Joeri Schasfoort