Mauldin Economics, Released on 4/18/25

As the trade situation intensifies between the US and China, it’s time to think about the ripple effects of a decoupling. We know all trade wars have a currency effect… but what happens when nations drive down their currencies to counter US tariffs? Will China use its cache of US treasuries as a weapon, driving US interest rates up? John Mauldin explains why he doesn’t believe China is using US treasuries as a weapon—and where he thinks the trade war will hurt most.

00:00 – Introduction
00:47 – Effects of trade wars
03:00 – Unfair tariff exemptions
08:10 – High-value manufacturing
14:55 – Bond market vigilantes
20.04 – Should we eliminate the deficit?
23:23 – AI at the federal level

John Mauldin is a renowned financial expert, a New York Times best-selling author, a pioneering online commentator, and the publisher one of the first publications to provide investors with free, unbiased information and guidance, Thoughts from the Frontline—the most widely read investment newsletter in the world. Each week, well over a million readers turn to John Mauldin to better understand Wall Street, global markets, and the drivers of the world economy. His most recent book is Code Red: How to Protect Your Savings From the Coming Crisis

  economy, John Mauldin, tariffs, trade war