Donald Trump claims his tariffs will bring back good manufacturing jobs and help to reindustrialize the United States, but all the evidence suggests this will fail, because he has no coherent industrial policy, is gutting the state's capacities, and refuses to challenge Wall Street. Ben Norton explains how the US economy was financialized, and what it would take to truly revive industry.
VIDEO: https://www.youtube.com/watch?v=GxWBnA_bQN0
Topics
0:00 (CLIPS) Intro
1:07 Trump's tariffs
2:09 Wells Fargo study
3:23 Industrial policy
3:51 China's industrial policy and planning
6:49 Biden's half-baked attempt
8:00 Survey: US manufacturing is not coming back
11:08 Tariff revenue was paid as subsidies
11:43 US government debt and deficit
12:28 Contradictions in tariff policy
13:25 Data on deindustrialization of US economy
15:45 The American System
18:44 Abraham Lincoln
19:13 Henry Clay
19:26 (CLIP) Trump on Henry Clay
19:59 (CLIP) Trump invokes the American System
20:22 Trumpism = Reaganism + protectionism
20:47 Financialization of US economy
21:20 Trump's tax cuts on the rich
21:55 Corporate incentives
22:43 GE and Boeing
23:28 Wall Street
24:24 US Commerce Secretary Howard Lutnick
25:41 (CLIP) Howard Lutnick on factory jobs
26:46 Manufacturing jobs
27:33 Views on manufacturing in USA
28:22 Lack of skilled labor in USA
29:01 Apple
29:42 (CLIP) Apple CEO Tim Cook on China
32:09 Wages in China
33:50 Vietnam and market socialism
35:37 Elon Musk and Tesla
36:57 US oligarchs
37:39 Policy proposal for reindustrialization
39:52 Challenging capital
40:38 Neoliberal globalization
42:31 Trump's tax policy helps rich, hurts poor
44:52 Outro
