Marc Fasteau, an expert on industrial policy, and Ian Fletcher, a trade policy authority, discuss the urgent need for a robust industrial policy in the U.S. They explore the historical decline of such policies and the necessity for strategic government intervention to boost key industries. The duo highlights the challenges faced by small and medium-sized enterprises and contrasts U.S. policies with those of stronger manufacturing nations. The conversation wraps up by emphasizing proactive measures to compete with China's advancements.