Why Trump Will Not Back Down On Tariffs & Iran | Dr Hal Brands | Govindraj Ethiraj | The Core Report

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Why will Trump not back down on tariffs and Iran, even as the political and economic costs rise? Govindraj Ethiraj speaks with Dr Hal Brands about Trump’s foreign policy, global trade, oil markets and what it means for India.In this Special Edition of The Core Report, financial journalist Govindraj Ethiraj speaks with Dr Hal Brands, Henry A. Kissinger Distinguished Professor of Global Affairs at Johns Hopkins SAIS. Brands explains why Trump considers tariffs a defining part of his presidency and why Iran has become a conflict from which the United States cannot easily withdraw.The conversation examines what Trump’s tariffs and Iran strategy could mean for global trade, oil prices, the Strait of Hormuz and financial markets. It also explores sticky US inflation, affordability concerns, the midterm elections and why domestic political pressure may not significantly alter American foreign policy.From an Indian perspective, Govindraj and Brands discuss the unexpected strain in US-India relations, India’s energy ties with Russia, bilateral investment negotiations and the long-term strategic case for cooperation between Washington and New Delhi. They also assess the fragile US-China trade truce and explain why the rivalry between the world’s two largest economies remains fundamentally unstable.For businesses and investors, the warning is clear. There may be no return to the calmer era of seamless globalisation. Companies must prepare for a more fragmented global economy in which tariffs, geopolitical crises, energy disruptions and economic volatility become the norm rather than the exception.Chapters:01:09 What Donald Trump could do next05:05 Who Really Drives Trump’s Policy? 05:55 Trump’s Iran and Tariff Strategy Under Pressure 08:12 Can Inflation Hurt Trump at the Midterms? 09:32 Trump Puts India–US Ties to the Test 11:14 Is the US-China Trade Truce About to Shift? 13:26 Is the World Ever Going Back to Normal? Subscribe to The Core Report for sharp conversations on business, the global economy, geopolitics, financial