The Trump administrationās 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 Trumpās insistence, they canāt balance out his tariff hikes across the supply chain.
āSome manufacturers who had plans to open factories in the country say the new duties are only adding to the significant obstacles they already faced,ā Bloomberg reported Friday.
Thatās because the supply chain to produce those goods in the United States simply isnāt there, requiring companies to import raw materials and factory equipmentāwhich Trumpās tariffs have made unaffordableāfrom abroad.
A combination of incentives and targeted tariffs only where necessary. For example, you might have incentives to build out EV chargers, incentives to buy EVs, ācarrot and stickā to encourage legacy manufacturers to start building EVs, incentives for new EV companies, incentives for battery recycling companies ā¦. Then come out in a dominant position for a new technology product, destined to build jobs and wealth for decades! Or you could, you know, throw that all away and then throw money at the dead tech of half a century ago