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

Topics

0:00 (CLIPS) Intro

1:07 Trump's tariffs

2:09 Wells Fargo study

3:23 Industrial policy

3:51 China's industrial policy and planning

6:49 Biden's half-baked attempt

8:00 Survey: US manufacturing is not coming back

11:08 Tariff revenue was paid as subsidies

11:43 US government debt and deficit

12:28 Contradictions in tariff policy

13:25 Data on deindustrialization of US economy

15:45 The American System

18:44 Abraham Lincoln

19:13 Henry Clay

19:26 (CLIP) Trump on Henry Clay

19:59 (CLIP) Trump invokes the American System

20:22 Trumpism = Reaganism + protectionism

20:47 Financialization of US economy

21:20 Trump's tax cuts on the rich

21:55 Corporate incentives

22:43 GE and Boeing

23:28 Wall Street

24:24 US Commerce Secretary Howard Lutnick

25:41 (CLIP) Howard Lutnick on factory jobs

26:46 Manufacturing jobs

27:33 Views on manufacturing in USA

28:22 Lack of skilled labor in USA

29:01 Apple

29:42 (CLIP) Apple CEO Tim Cook on China

32:09 Wages in China

33:50 Vietnam and market socialism

35:37 Elon Musk and Tesla

36:57 US oligarchs

37:39 Policy proposal for reindustrialization

39:52 Challenging capital

40:38 Neoliberal globalization

42:31 Trump's tax policy helps rich, hurts poor

44:52 Outro