Former NEC Director Gary Cohn on state of the economy, Pres. Trump's tariffs agenda and impact of AI

Group 1 - The discussion highlights the importance of tariffs in addressing supply chain vulnerabilities exposed during the COVID-19 pandemic, particularly in the semiconductor industry [4][5][10] - Companies are adapting to increased input costs due to tariffs by becoming more efficient and reducing their workforce, which has led to a paradox of rising corporate earnings despite a weak job market [12][14][18] - In Q2, overall revenue for companies increased by approximately 6.3%, while earnings per share (EPS) rose by 11.8%, indicating improved efficiency in operations [16] Group 2 - The current economic environment shows that companies are leveraging technology, including AI, to enhance efficiency, although the return on investment in AI is still considered low at this stage [19][20] - Many companies are downsizing their workforce as a natural response to an aging population, with a significant number of employees reaching retirement age, which contributes to the overall reduction in headcount [21][22] - The outlook for housing and capital expenditures remains cautious, with expectations that spending will be spread over several years rather than concentrated in the near term [27][29]