What this idiot has missed is that American doesn’t have the means to make these goods.
Regardless of one’s opinions on tariffs themselves, this was such a stupid, hamfisted way of going about it. It’s almost like phasing in tariffs incrementally over a period of, say 10 years, would allow for adaption and for production to get spooled up.
I use “10 years” as an example, an economics person would be better qualified on the specifics.
If you want to see how government can spur investment in onshore manufacturing capabilities just look at the CHIPS act, which we can’t have because the “wrong” team did it.
Depending on how much money you throw at it and how much support you get by the government in dealing with regulatory processes, moving existing complex plants could take 2-5 years. Add another 1-2 years if you start from scratch. However when starting from scratch you have to do the same in other places too, so the relative time loss gets smaller.
Fact is some megacorporations already announced that they want to invest into manufacturing in the US because of tariffs. It will not offset the broader impact but help Trump sell his tariffs as a success.
Regardless of one’s opinions on tariffs themselves, this was such a stupid, hamfisted way of going about it. It’s almost like phasing in tariffs incrementally over a period of, say 10 years, would allow for adaption and for production to get spooled up.
I use “10 years” as an example, an economics person would be better qualified on the specifics.
If you want to see how government can spur investment in onshore manufacturing capabilities just look at the CHIPS act, which we can’t have because the “wrong” team did it.
Depending on how much money you throw at it and how much support you get by the government in dealing with regulatory processes, moving existing complex plants could take 2-5 years. Add another 1-2 years if you start from scratch. However when starting from scratch you have to do the same in other places too, so the relative time loss gets smaller.
Fact is some megacorporations already announced that they want to invest into manufacturing in the US because of tariffs. It will not offset the broader impact but help Trump sell his tariffs as a success.