the Wall Street Journal reports that Donald Trump rates are, um:
US manufacturers are shifting production to countries outside of China as trade tensions between the two largest economies in the world extend into a second year …The biggest beneficiaries of that decline have been other countries in Asia where production costs are low, such as Vietnam, India, Taiwan and Malaysia..
"We are moving production to other parts of the world," said Marvin Edwards, executive director of CommScope Holding Co., in June. The company Hickory, N.C., is manufacturing antennas for sale in the USA. UU At its plant in India instead of China.
I waited. What about America?
However, there is little evidence that US manufacturers return production from China to the United States. A move that the Trump administration expected the rates to encourage. While imports from other Asian countries have increased, US manufacturing output has declined 1.5% through May from a recent peak in December, according to the Federal Reserve. The Supply Management Institute said earlier this month that its manufacturing index fell again in June to the lowest level since 2016.
US imports in 2019 from China and the other top ten losers amount to $ 39.5 billion less than last year. However, imports of the top ten winners total $ 38.5 billion Plus:
Anyone who wants to pretend that this is great news for American workers is simply joining Trump's scam. The tariffs to China could eventually force them to change some of their bad commercial behavior, if Trump is smart enough to close a serious deal, but that's it. It will do nothing to return low-value manufacturing to the United States.