.... OR they could change supply chains and go to Vietnam for labor which hurts China and forces a better deal. Weak take.
For small businesses, it’s 1/10th the cost to make something in China vs the US. A 30% tariff doesn’t bring manufacturing back; it puts small companies with low margins out of business. The stronger businesses survive, increasing income inequality.
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Changing over an entire supply chain before you run out of business is hard.
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And there are other countries that can do it even cheaper. Seems like none of the White House economic advisors are familiar with Ricardo’s comparative cost advantages theory written in 1817.pic.twitter.com/EBP4hAFBi2
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Oy, yes. Tariffs. One of the worst examples of "try to do one thing while in fact accomplishing the opposite." The last time it was OK was Hamilton era, when point was to give US industry time to develop to be a market-viable competitor. Now? Trying to plug the dam with a twig.
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Hope you & others can get majority of people to comprehend this fact.
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I believe this is the best time for tariffs. American buisnessss are now realizing they can automate most of the jobs that were outsourced to China, here in the U.S. for the same or reduced costs.
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Tariffs seem to be political engineering designed more to protect stagnation than wages. I would like to see wage increases without Baumol’s cost disease infection. What might be one’s (company’s) option if they are not in a dynamic industry?
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Agree 100%. I don’t believe the goal of the WH and their tariffs is to bring back manufacturing jobs. It specific to trade and IP.
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Minimum capital investment thresholds are almost always ignored in policy because decisions are being made on sums vs what the deployment requirements are. Even mid sized companies cannot get the capital together. You'd need a development Bank to support the risk where 1/n
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Traditional banks would balk. Wait.... Don't really have that anymore, do we? ;-). Consequently you could go to capital markets who are becoming allergic to manufacturing unless it is disruptive technology that is cannibalizing legacy manufacturers. 2/n
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