GZERO World with Ian Bremmer
What Donald Trump's second term will mean for the US economy
Dec 7, 2024
Oren Cass, founder and chief economist at American Compass, delves into Donald Trump's vision for a 'golden age of America.' He discusses the implications of record tariffs and mass deportations, arguing they could help American workers by tightening the labor market and raising wages. Cass counters concerns about inflation and global trade wars, insisting that strong tariffs are necessary to combat China's unfair trade practices. His insights challenge the conventional economic perspectives, offering a provocative viewpoint on an America-first economic agenda.
42:36
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Quick takeaways
- Trump's proposed mass deportations aim to tighten the labor market, potentially increasing wages and improving working conditions for American workers.
- Significant tariffs on Chinese imports are positioned as essential to protect American jobs and encourage domestic manufacturing despite concerns about inflation and trade wars.
Deep dives
Trump's Economic Policies and Immigration Strategy
The discussion revolves around the anticipated economic policies of a Trump administration, particularly its aggressive stance on immigration and labor market policies. Trump aims to tighten the labor market by deporting undocumented immigrants, which is expected to increase the demand for American workers and thus incentivize better wages and working conditions. Oren Kass argues that illegal labor undercuts the productivity and wages of legal workers, so removing undocumented immigrants could compel employers to invest in their workforce and operational processes. This focus on domestic labor contrasts with the Biden administration’s priorities, which have leaned more towards climate change and student debt relief.
