David Sacks: The Decades-Long Bipartisan Consensus on Free Trade was a Mistake
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Episode Description
Full episode: https://youtu.be/KcmMOZKnKAk
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Brief Summary
The episode critiques the chaotic trade policies of the current administration and discusses Trump's impact on trade discourse.
Key points
- Bipartisan Consensus on Free Trade. For decades, Washington has maintained a bipartisan consensus that unfettered free trade is beneficial, despite significant trade deficits and job losses.
- Trump's Impact on Trade Policy. Donald Trump was one of the few public figures to challenge the prevailing views on free trade, suggesting that it was a mistake to open markets without consideration.
Transcript
sachs you heard ezra say that he feels this administration is being a bit chaotic in the approach here what's the counter to that maybe you could clarify what your position is this is a very unrealistic view of politics when we've had a bipartisan consensus in washington for decades that unfettered free trade is a good thing no matter how big our trade deficits got no matter how rich and powerful china got no matter how unfair the trade practices got no matter how many millions of our jobs and factories got exported overseas this has been the bipartisan consensus in washington and larry you're right that it started before the clinton administration and the george w bush
administration definitely accelerated it but there has absolutely been a bipartisan consensus in washington that this sort of unfettered free trade policy was good for the country now how do you change that you can nitpick this and you can make all the process objections you want but donald trump has changed the conversation he was one of the few people and the few public figures in america who was right about this that throwing open our markets to these foreign products without thinking about the consequences was a mistake i think most people today would say he was right about
