Movie isn't over: Gita Gopinath on Trump tariffs and Carney's speech

Gita Gopinath, Indian-American economist and Professor of Economics at Harvard University, shares her insights on Canadian Prime Minister Mark Carney's remarks on shifting global economic order during the World Economic Forum in Davos and dealing with tariffs. 

When Gita Gopinath was asked about her views on Carney's speech and tariffs during a session moderated by India Today Group Vice-Chairperson and Executive Editor-in-Chief Kalli Purie, she said, "It was pretty powerful. Indeed, it was a statement about the current global economic order and how that has basically ended and that we have to, you know, form new alliances. I think there was a big call to that. First of all, I don't think the movie is over, right?"

"I mean, one of the reasons that the tariffs that have been announced so far from the US has not been hugely consequential on the world is because the actual level of tariffs, and I did some research on this with the co-author last year, the actual level of tariffs is a fraction of what the headline numbers and announcements are, right? So the statutory rate is about 24 percent. The actual rate is about 14% rates because there's so many exemptions and so many carve-outs. So every time I hear a number, I'm like, I want to wait and see exactly where something sticks."