FT News Briefing Swamp Notes: The conservative view on tariffs now
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May 3, 2025 
Oren Cass, the executive director of American Compass and a conservative economic policy contributor, joins Edward Luce, US national editor and columnist for the Financial Times. Together, they dive into the contentious topic of tariffs, exploring why some conservatives still support them despite criticism. The discussion touches on the economic repercussions of Trump's trade war, the shifting dynamics of global power, and the uncertainty faced by businesses. They also consider how ongoing tariff policies affect international alliances, particularly with China.
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Tariffs Aim to Rebuild Industry
- Trump's tariffs are a bold effort to rebuild industry in the U.S. despite initial disruption.
- Course corrections hint tariffs evolving towards constructive industrial rebuilding.
Beyond Tariffs: Broader Economic Reforms
- Lower U.S. investment in manufacturing impacts growth, prosperity, and national security.
- Tackling this requires a multi-policy approach beyond just tariffs, including industrial policy and workforce training.
Tariffs Cause Economic Uncertainty
- Trump's tariff rollout created economic uncertainty and damaged trust in the U.S. dollar.
- This uncertainty harms business, hiring, and investment, making it an economic self-harm.