Tom Orlik
speaker
158 appearances
1 recordings
1 series
first heard Apr 2025
last heard Apr 2025
Tom Orlik’s voice in public audio — every appearance, attributed to the second.
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Appearances
So on the campaign trail, Trump was talking about sixty percent tariffs on China, twenty percent tariffs on everybody else.
And I think the reaction from Wall Street and the reaction from most in the economics profession was
This is red meat for the campaign trail.
This is not a serious proposal.
The US economy, the global economy, the global trade system wouldn't be able to survive tariffs at this level.
And now here we are on April the third, one day after Liberation Day, and we've got tariffs at that level.
For China, if you add it up.
Tariffs may even be a bit higher than sixty percent.
So it's a huge shock.
And I think the question people are going to be asking is
What's being liberated from what?
Is the US being liberated from unfair trade practices from China and Europe, or are US workers about to be liberated from their jobs and US investors liberated from their returns?
So I think it's interesting, Tracy, if we go back to the nineteen nineties, it was a kind of unipolar moment for the United States, right?
The Soviet Union had collapsed, China was still
an early stage of its development, its GDP was a kind of tiny fraction of that of the United States.
And so the argument for free markets really made a lot of sense.
Let's have low tariff barriers.
US firms are the most competitive firms in the world.
They're gonna be the biggest winners from low trade barriers.
And guess what?
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