The SupplyChainBrain Podcast Time for a New Industrial Policy for the United States? Part 1
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Feb 7, 2025 Mark Fastow, co-author of "Industrial Policy for the United States" and a global trade expert, argues for a fundamental shift in U.S. industrial policy. He highlights the urgent need to prioritize advanced technologies like robotics over military spending. Fastow emphasizes the struggles of U.S. manufacturing compared to competitors like China and Japan. He also discusses the complexities of currency valuation and its impact on trade balances, calling for a reevaluation of current trade policies to better align with evolving global dynamics.
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Decline of Free Trade
- Free trade policies are showing cracks, prompting a discussion about new industrial strategies.
- This shift acknowledges the reality of tariffs, quotas, and domestic industry prioritization in global trade.
Support Innovation
- Support innovation and commercialization in key industries like robotics and material science.
- Fund research, help new ventures, and assist small manufacturers with technology adoption and marketing.
Prioritizing Industries
- Prioritize industries on a sliding scale, focusing on desirable sectors like electric cars, aircraft, and green tech.
- These industries offer high value, contribute to national security, and are subjects of global competition.
