Interview Dives Into Trump's Plan To 'Reset' America's Economy

(MENAFN- GlobeNewsWire - Nasdaq) Exclusive Interview Details Strategy to Replace Taxes with Tariffs and Revive U.S. Industry

Baltimore, MD, Sept. 03, 2025 (GLOBE NEWSWIRE) -- An interview with Jim Rickards reveals a dramatic shift in America's economic direction. Rickards, a former advisor to the CIA, Pentagon, and four U.S. Presidents, argues that Trump is preparing to restore an older model of prosperity rooted in tariffs and domestic production.

“The American System dates to the late 1700s... and it was supported by George Washington, Abraham Lincoln, all the way up to Dwight Eisenhower.”

From Taxes to Tariffs

At the center of the plan is a sweeping change to how the U.S. raises revenue. Rickards explains:“We didn't have an income tax for much of our history. Instead, the government drew revenue from tariffs.”

Trump himself recently declared: “It's time for the United States to return to the system that made us richer and more powerful than ever before.”

Rickards notes this means Americans could see relief from personal taxes while foreign competitors pay more.“Trump has proposed a new agency called the External Revenue Service... a branch of Treasury focused on protecting American jobs and raising revenue by taxing our trade partners, instead of the American public.”

Reindustrializing the Nation

Rickards believes the implications go beyond tax reform.“Trump is applying immense pressure on U.S. companies to re-shore the production of everything from auto parts to A.I. chips. It's all coming back.”

But he cautions not all businesses will survive the transition.“In addition to my report on Trump's new American System – I've asked my team to put together a vital report on the companies most likely to LOSE under this scenario... their shareholders could be wiped out.”

Energy Independence Restored

Part of this economic reset involves rebuilding domestic energy capacity. Rickards highlights:“Trump has opened the door to revive the Keystone XL pipeline... he's also planning to re-fill our Strategic Petroleum Reserve. Most people don't realize how insane Biden's policies were. During his presidency, he drained a record 180 million barrels!”

He adds: “To refill our stockpile, Trump's going to increase oil production here at home. And that's only the start.”

Generational Change

Rickards frames the revival of the American System as a generational turning point. “We are entering a new era... For the first time in our lives, the government is preparing to unlock this massive asset.”

And politically, he argues, the shift could be just as significant.“Donald Trump could become a national hero... one of the most powerful Presidents in memory.”

About Jim Rickards

Jim Rickards is an economist, lawyer, and former advisor to the CIA and Pentagon. He has counseled four U.S. Presidents and is widely recognized for his accurate forecasts, including predicting the 2008 financial crisis, Donald Trump's 2016 election victory, and the 2020 pandemic and lockdowns. He is the editor of Strategic Intelligence, where he provides analysis on global macroeconomic trends, markets, and geopolitical shifts.

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