Realistically? For some stuff American jobs will move back, but I think most of the jobs will just move to other countries that don’t have the scrutiny that China has. Countries like the Philippines which have only a 17% tariff on the new scheme. On top of that, they probably are lower cost for labor and the biggest cost is the factory itself and shipping infrastructure. If a company has to finance a new factory anyways, the Philippines is more attractive than the US.
And that’s just a random country I picked from the tariff list. I’m sure there some country out there that has the right mix of cheap labor, shipping infrastructure, location, and obscurity that lets it avoid tariffs to the point where most good come from there instead.
I think that definitely sounds reasonable, and I think, if there’s any hope for these tariffs to actually meet their stated purpose, the government of the US would need to just say, if working conditions don’t meet the same standards, there will be additional tariffs. I think that’s exactly where tariffs ought to be applied, when some country takes advantage of, essentially, human rights. We don’t have the right to stop them, but we do have the right to tax their products for it, to the point it’s not worth it.
Realistically? For some stuff American jobs will move back, but I think most of the jobs will just move to other countries that don’t have the scrutiny that China has. Countries like the Philippines which have only a 17% tariff on the new scheme. On top of that, they probably are lower cost for labor and the biggest cost is the factory itself and shipping infrastructure. If a company has to finance a new factory anyways, the Philippines is more attractive than the US.
And that’s just a random country I picked from the tariff list. I’m sure there some country out there that has the right mix of cheap labor, shipping infrastructure, location, and obscurity that lets it avoid tariffs to the point where most good come from there instead.
I think that definitely sounds reasonable, and I think, if there’s any hope for these tariffs to actually meet their stated purpose, the government of the US would need to just say, if working conditions don’t meet the same standards, there will be additional tariffs. I think that’s exactly where tariffs ought to be applied, when some country takes advantage of, essentially, human rights. We don’t have the right to stop them, but we do have the right to tax their products for it, to the point it’s not worth it.
Obviously, that’s not how things will go.