Plain English with Derek Thompson
Why America Will Lose Its Trade War With China
Apr 16, 2025
In this conversation, Jason Miller, a Michigan State professor specializing in global supply chains, discusses the evolving trade war dynamics between the U.S. and China. He reveals how deeply intertwined both economies are, especially in electronics and essential goods. The challenges of re-industrialization in America and the uncertainties surrounding tariffs are explored. Miller emphasizes that while tariffs are intended to protect American interests, they often harm the very industries they aim to support, highlighting the complex nature of global trade.
45:29
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Quick takeaways
- The U.S. economy's dependency on Chinese manufacturing highlights potential shortages and increased consumer costs amidst ongoing trade tensions.
- Unpredictable trade policies create economic uncertainty, hindering business investments and disrupting supply chains essential for both American and global markets.
Deep dives
Re-industrialization and America's Lost Manufacturing Edge
Re-industrialization refers to the concept of revitalizing America's manufacturing sector, which has seen a significant decline since the mid-20th century. Historically, the U.S. economy was dominated by industrial giants, with manufacturing jobs providing economic stability and growth. In recent decades, however, America has shifted toward a service-based economy, losing its competitive edge in essential sectors such as shipbuilding and advanced technology. The need for a strategic investment in a new industrial economy is emphasized, focusing on building capabilities for the future rather than merely trying to revert to past manufacturing models.
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