This is why Trump's tariffs will NOT bring manufacturing back to the US from Geopolitical Economy Report

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Ben Norton

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This is why Trump's tariffs will NOT bring manufacturing back to the US

45 minutes Posted May 31, 2025 at 4:36 pm.

(CLIPS) Intro

Trump's tariffs

Wells Fargo study

Industrial policy

China's industrial policy and planning

Biden's half-baked attempt

Survey: US manufacturing is not coming back

Tariff revenue was paid as subsidies

US government debt and deficit

Contradictions in tariff policy

Data on deindustrialization of US economy

The American System

Abraham Lincoln

Henry Clay

(CLIP) Trump on Henry Clay

(CLIP) Trump invokes the American System

Trumpism = Reaganism + protectionism

Financialization of US economy

Trump's tax cuts on the rich

Corporate incentives

GE and Boeing

Wall Street

US Commerce Secretary Howard Lutnick

(CLIP) Howard Lutnick on factory jobs

Manufacturing jobs

Views on manufacturing in USA

Lack of skilled labor in USA

Apple

(CLIP) Apple CEO Tim Cook on China

Wages in China

Vietnam and market socialism

Elon Musk and Tesla

US oligarchs

Policy proposal for reindustrialization

Challenging capital

Neoliberal globalization

Trump's tax policy helps rich, hurts poor

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Show notes

Donald Trump claims his tariffs will bring back good manufacturing jobs and help to reindustrialize the United States, but all the evidence suggests this will fail, because he has no coherent industrial policy, is gutting the state's capacities, and refuses to challenge Wall Street. Ben Norton explains how the US economy was financialized, and what it would take to truly revive industry.

VIDEO: https://www.youtube.com/watch?v=GxWBnA_bQN0

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