The Trump administrationās tariff scheme appears less and less likely to bring manufacturing jobs back to U.S. shores.
Businesses across the country are crunching the numbers and realizing that, despite Donald Trumpās insistence, they canāt balance out his tariff hikes across the supply chain.
āSome manufacturers who had plans to open factories in the country say the new duties are only adding to the significant obstacles they already faced,ā Bloomberg reported Friday.
Thatās because the supply chain to produce those goods in the United States simply isnāt there, requiring companies to import raw materials and factory equipmentāwhich Trumpās tariffs have made unaffordableāfrom abroad.
And what made those jobs unavailable was saying that we could now simply import all that they made from Asia instead.
Youāre missing the point. That didnāt happen overnight. We gradually built supply chains in Asia to our own detriment over decades.
Sure there needs to be some sort of market or policy change if we want it to be economically plausible to bring more of it back, but then it will take decades to build out.
And there wonāt be millions of unionized blue collar jobs as it will be all automated. Automation has done more to erode those jobs than outsourcing, and that genie is not going back in the bottle.
From an historical perspective it very much did happen overnight, in the 70s they were there, in the 90s they were gone