Gina Raimondo on How European Industry Is Getting Crushed
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What is the current state of US‑Europe relations and why is the “ice” between them thinning?
Hi, I'm David Weston. Join me every week for the Wall Street Week Podcast to hear stories of capitalism from around the world. From geopolitical tensions and central bank decisions to artificial intelligence, energy, and infrastructure, we sit down with the CEOs, economists, policymakers, and thought leaders whose decisions are shaping markets everywhere we find them. Subscribe to the Wall Street Week Podcast on Apple, Spotify. Five or anywhere you listen.
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Hello, and welcome to a live episode of the Odlots Podcast. I'm Jill Weisenthal.
And I'm Tracy Alloway.
So for I guess for listeners who are hearing us here at CFR, plenty to talk about, truly do have the perfect guest with us. We're gonna be speaking with CFR distinguished fellow Gina Raimondo, previously the Commerce Secretary, previously governor of Rhode Island. So uh Gina, looking forward to chatting.
Me too. Thank you for having me.
Uh there's so much there's so much to talk about. By the way, what's the date today? It's April first. We always make a note of that these days. You better
add in the time.
Yeah. What time? Eleven forty five. 'Cause so much is liable to change by the time other people hear this episode. But I wanna start um I saw a headline this morning. President Trump, he's said to give a speech tonight, uh, related to the war in Iran and according to a report, um, I think it was a Reuters report, he's going to criticize NATO heavily. They haven't gotten uh involved in the war, et cetera, maybe threaten to pull out of NATO yet again. And I'm curious from your perspective You know, how thick is the ice right now between the US and Europe and how much will how much more is there for it to thin?
Yes, that's a good question. It does it does make sense. Hello everybody. It's great to be here. It's great to be on the show. I don't think it's that thick. The last time I was in Europe was I guess a month and a half ago for the Munich Security Conference and spent a lot of time with European ministers, military leaders, CEOs. And I think their patience is wearing thin with us. Uh and somewhat justifiably. So I don't think it's very thick. Listen, I understand the president's point if he thinks European countries aren't pulling their weight or doing their fair share as it relates to investing in their military capacity and and participating in NATO. That being said, I mean it's not clear to me that Before we invaded, we had a strategic plan with our European allies.
to get involved. And so you know, it's uh it's like s a lot of things with this administration, maybe not a terrible idea, but very poor execution.
So I know when you were commerce secretary, you obviously spent a lot of your time thinking about the US versus China technology situation. And I know you argued also that we actually need Europe when we think about that, because if we're gonna have something like export controls in the US, it doesn't really work if US uh if Europe doesn't come along with us. When you think about economic security in the context of let's just say fraying US European relations, where are we headed?
I think we're in a bad place. I don't think we can effectively compete with China. Економікли, технологія, віт алис. Right, they're just too big. They're too big, they're too determined. And so we need allies, including Europe, by the way, including Southeast Asia. including the global south. And so if you were to say to me Hey, what do you think is the biggest mistake about how this administration is handling China and their China strategy, I would say Pissing off all our allies. Why it's just not a good idea. By the way, it's not good for Europe. Іно, воно із Европи. What I would say to the Europeans is I know you're unhappy with us, but we're your closest ally, and it isn't good for you to cozy up to China.
Амін і в юлюке на. Вот Чана і доюнь то Евро. It's a it's terrible for Europe. The Chinese imports. to Europe have surged.
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Chapters
8 chapters
1
What is the current state of US‑Europe relations and why is the “ice” between them thinning?
0:00–4:55
2
How does China’s cheap‑goods strategy threaten Europe’s industrial base?
4:55–10:27
3
Why does Gina Raimondo say a unified, non‑China trading bloc is essential for Europe’s future?
10:27–16:41
4
What lessons did the CHIPS Act teach about building a resilient semiconductor supply chain?
16:41–22:20
5
How might rapid AI adoption create mass unemployment and destabilise democracy?
22:20–28:08
6
What policies and incentives can help companies transition workers and create new AI‑driven jobs?
28:08–33:45
7
How can the US, Europe and other allies cooperate to secure critical minerals and supply chains?
33:45–39:31
8
What are the key takeaways and next steps for protecting European industry and winning the AI race?
39:31–47:43
Speakers
5 identifiedMore from Odd Lots
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