Bulwark Takes Tim Miller: Why is Trump Making China Stronger?
May 14, 2025
Scott Galloway, a Professor of Marketing at NYU and co-host of Raging Moderates, engages with guest Tim Miller to unpack the ramifications of Donald Trump’s trade strategies. They discuss how reckless tariffs have not only strained the U.S. economy but also fortuitously enhanced China's global standing. The conversation touches on the uncertainty of U.S.-China relations, the implications of shifting trade dynamics, and the troubling perception of America's diminishing influence in global affairs. Insightful and provocative, their discussion highlights critical economic concerns.
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Tariffs Hurt US Consumers
- Trump's tariffs have effectively increased consumer costs by about 20% without securing meaningful trade concessions.
- This represents a tax on consumers that weakens the U.S. economy while failing to pressure China significantly.
Toxic Uncertainty Damages Economy
- The lasting damage of Trump's tariffs is 'toxic uncertainty' which lowers trust in US markets and reduces their valuation multiples.
- This uncertainty will increase borrowing costs and consumer prices for years to come.
US Weakness Empowers China
- Trump's trade war and weak enforcement on issues like TikTok have strengthened China's global position.
- The U.S. appears unable or unwilling to resist China's geopolitical ambitions effectively.