The Trump administration’s 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 Trump’s insistence, they can’t balance out his tariff hikes across the supply chain.
“Some manufacturers who had plans to open factories in the country say the new duties are only adding to the significant obstacles they already faced,” Bloomberg reported Friday.
That’s because the supply chain to produce those goods in the United States simply isn’t there, requiring companies to import raw materials and factory equipment—which Trump’s tariffs have made unaffordable—from abroad.
What made those jobs available was economic opportunity, investment, building a greater whole over time. You don’t win a game of checkers by knocking over the board or a race to the bottom to become the next third world poverty labor. You win with a focussed strategy to push one checker to the other side and “king” it.
Biden was taking the right approach with the chips act , infrastructure spending, and renewable energy investments. Maybe it wasn’t flashy or loud or immediate, but would have actually built a dominant position in new technologies, including us supply chain and lots of us jobs. The biggest flaw was we needed to stick to the plan for a decade or two, but that’s what you gotta do.