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.
The worse part of it is
Thatās the potential economic catastrophe. So far we havenāt had to face many consequences of excessive debt accumulation, but if those idiots succeed in destroying the special circumstances that let us get away with more fiscal recklessness than other countries, that reckoning could happen very suddenly.
Itās a similar feel to climate tipping points. Itās unique enough situation that we really donāt have a good way to predict the likelihood, the timing, the severity, but weāre not just playing with fire, weāre running around holding a tank of burning napalm over our heads claiming: no big deal, no oneās been burnt yet