Ted Thatcher, President of Bright Lake Wealth Management, shares his thoughts.
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00:00I think to get inflation under control, ultimately, we need clean supply chains. I think
00:07the talking point that we are not all beneficiaries from world trade, it just isn't the case.
00:15We all benefit. It's not a zero-sum game when the United States exchanges goods and services
00:23with China. The more free trade we can get, the more price flexibility on the downward side that
00:33we will continue to see. In order to get inflation down, I think we have to have that free trade
00:38permeate. That doesn't mean that tariffs can't be used strategically for things like energy and
00:45silicone chips and maybe even weapons manufacturing and some of these concerning,
00:51more national security-focused issues. But for the average American, I don't know a lot of
00:58average Americans that are wanting to go on a supply line and assemble iPhones. I think that
01:03we all benefit in a world economy when we exchange in that way.