Explain to me how a tariff can do this.
In a Vietnamese sweatshop, workers make shirts for a total cost of $2 a shirt. In the USA, it would cost $20 to make that shirt.
See, people like you live in the 19th Century. Manufacturing and the U.S. economy has changed since then. We can’t build factories to make clothing at competitive prices. And if we did make it domestically, we certainly couldn’t export it.
And we don’t live in a world where a factory makes a product. Factories ASSEMBLE products which are made of parts that come from other factories. It takes about 1,000 factories to build a car. Not one. You can’t switch all that to the U.S. in a day or even in five years.
There are places where we can compete, and others where we cannot. That is why across the board tariffs are already failing and Trump’s been forced to roll most of them back.
Tesla vehicles (parts) are roughly 70% made in USA. It doesn’t mean the cars will go up 30% like some articles will make you believe.
We have Intel, Nvidia, Texas Instruments, Boeing, GE, 3M, Caterpillar, John Deere, Apple, Toyota USA, Honda USA and many many other companies with manufacturing here.
I don’t like paying more for products, but like somebody who benefits from a sector that only hires Americans (I rather not say which), I understand why my wage is high since a company would be able to hire a foreigner (Indian or Pakistani) to work for 1/8th of the salary.
So like MOST countries in the world, this administration is putting barriers to protect and maybe build local jobs.
There are problems with decreasing competition, like companies taking advantage of the lack of (competition) and not improving. But a multi-national would take advantage of such market. And EVERY big company wants a share of the US market.
We can discuss the pros and cons but nobody knows what really will happen. “Trust The Experts” proved to be a moronic take. All those economist love to make predictions but eventually, their track record go bust.
Now every time I buy something on Shop app, I look for “ships from USA”. Might not be the lowest price but I know I’m (most likely be) helping a local business.
The companies that use cheap labor to build $3 shirts can absorb a tariff without passing to the American consumer who might be overpaying anyways.
Like I said, I rather not make predictions. I’m trying to be positive and wait what will happen. If this administration makes a bad job and everything goes as bad as the opposition says, the next administration might revert everything.