Rogoff: Tariffs Will 'Come Back to Bite' U.S. Pretty Hard

The video features a discussion on economic theories, focusing on Lawrence Summers' critique of Navarro Ross Economics. It explores the need for improved productivity and the impact of globalization and tariffs. The conversation shifts to immigration, debating the effectiveness of the Trump Wall versus restricting cash payments. Finally, it predicts strong economic growth under Trump, cautioning about sustainability.

What was the main criticism of Navarro and Ross's economic theory?

• It relies too heavily on tax cuts.

• It ignores globalization benefits.

• It is considered economic creationism.

• It focuses on increasing tariffs.

What is a potential downside of imposing tariffs on China?

• It will decrease the cost of goods.

• It will increase job opportunities significantly.

• It will raise costs for low and middle-income workers.

• It will have no impact on the economy.

What does the speaker suggest as a more effective immigration control measure than building a wall?

• Increasing border patrols.

• Restricting large cash payments.

• Implementing stricter visa policies.

• Building a taller wall.

What is the speaker's outlook on economic growth under Donald Trump?

• It will be strong initially but may not be sustainable.

• It will be strong and sustainable.

• It will be weak and unsustainable.

• It will have no significant change.

What is the main driver of immigration according to the speaker?

• Lack of border security.

• Large cash payments to undocumented workers.

• High demand for low-skilled labor.

• Political instability in neighboring countries.