Claims

The US LNG industry is vastly more important to the economy than commonly recognized, with 75% of valuable semiconductor exports represented by LNG value—twice the value of all Hollywood and television and entertainment exports combined.

The private sector and global supply chains drive most trade deficits and surpluses between the US and other countries, not government purchases; Trump's tariffs cannot unwind private sector supply chains in 90 days, so the trade deficit will persist despite policy pressure.

After COVID, American corporates built up industrial links between North America and Southeast Asian countries (Green-coded), but these have been blown up in the last three months, and it is unclear whether they are salvageable given current tariff policy.

Between the shale revolution, COVID, populism, and anti-trade policies (Trump and Biden), manufacturing has become as cheap in North America as in East Asia; the only barrier is building new industrial plant capacity, which takes years; the US is now undergoing its fastest industrialization ever—faster than WWII—and is drawing a thick line between the North American system and the China-centric system.