Federalist Radio Hour
Dave Brat Talks Tariffs, Inflation, And The Federal Budget
May 15, 2025
Dave Brat, Senior Vice President of Business Relations at Liberty University and a former congressman, dives into pressing economic issues. He discusses the fallout from tariffs and the alarming rise of monopolies in the U.S. economy. Brat critiques trade policies and highlights the manufacturing gap with China, urging a reevaluation of economic practices. He also connects government regulations to workforce challenges and advocates for greater economic literacy. A compelling exploration of how historical values influence today’s political and economic landscape makes for a thought-provoking listen.
39:34
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Quick takeaways
- Tariffs are crucial in shaping U.S. economic policy, especially in combating monopolistic market structures and fostering competition.
- Sustained economic growth hinges on capital investment, skilled workforce, and technological advancement, countering trends of declining productivity and stagnant wages.
Deep dives
Understanding Tariffs and Their Economic Impact
Tariffs play a significant role in U.S. economic policy, particularly in the context of recent trade wars. Many Americans lack a basic understanding of how tariffs function in the global marketplace, especially following decades of offshoring and low tariffs. The U.S. has witnessed a shift towards monopolistic market structures, where a few large firms dominate significant portions of the economy, leading to less competition and innovation. As a result, discussions surrounding tariffs must consider both their protective intent and the distorted reality of current market conditions, which are far removed from the ideal of perfect competition.
