The Liberal Patriot with Ruy Teixeira Trump, Tariffs, and the Future of Industrial Policy
May 9, 2025
Michael Lind, co-founder of New America and author of 'Hell to Pay', dives into the complexities of globalization and tariffs. He discusses how both Hillary Clinton and Donald Trump have shifted their stances on trade agreements. Lind argues that while Trump’s tariff policies have had some merit, their execution was often chaotic. The conversation also addresses Biden’s industrial policies and the ideological rifts within the Republican Party, particularly the rise of a pro-labor faction amidst ongoing political polarization.
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Tariffs Are Historically Normal
- Tariffs are historically normal tools for protecting industries, not aberrations.
- Free trade is the rare exception, not the rule, in global economic history.
Strategic Partial Decoupling from China
- Partial decoupling from China is strategically sound to protect key industries.
- Complete decoupling isn't necessary or feasible; coexistence with China is realistic.
Tariffs Need Industrial Policy Support
- Tariffs alone won't revive industries; coordinated industrial policy is necessary.
- Skills training, subsidies, and sector-specific plans must complement tariffs for success.
