Coffee and a Mike Paul Craig Roberts #1059
Feb 3, 2025
Dr. Paul Craig Roberts, former Assistant Secretary of the Treasury for Economic Policy under Reagan and a noted columnist, shares his insights on the impact of tariffs on Canada, Mexico, and China. He discusses how these policies are intertwined with historical events like the Soviet Union's breakup. Roberts emphasizes the failure of tariffs to revive American jobs, critiques corporate offshoring, and highlights the implications of global supply chains. He also reflects on the socio-economic shifts post-Soviet Union and calls for urgent reforms to revitalize American manufacturing.
AI Snips
Chapters
Transcript
Episode notes
Tariffs and Trade Deficits
- Tariffs won't bring manufacturing jobs back to the US.
- The trade deficit is caused by US corporations offshoring production, not by other countries.
Incentivizing Domestic Manufacturing
- To incentivize companies to bring manufacturing jobs back to the US, implement a differential tax system.
- Give lower tax rates for domestic production and higher rates for offshore production to offset cost advantages.
Executive Overreach
- Traditionally, tariffs have been a legislative matter decided by Congress.
- The president unilaterally imposing tariffs represents an erosion of Congress's power and a shift towards executive authority.