The Trump administration’s 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 Trump’s insistence, they can’t balance out his tariff hikes across the supply chain.
“Some manufacturers who had plans to open factories in the country say the new duties are only adding to the significant obstacles they already faced,” Bloomberg reported Friday.
That’s because the supply chain to produce those goods in the United States simply isn’t there, requiring companies to import raw materials and factory equipment—which Trump’s tariffs have made unaffordable—from abroad.
ironically, much of the domestic industrial policy Biden signed into law was intended to do exactly this but Trump reversed course because corrupt reasons
“Corrupt reasons” is actually giving him too much credit. He’s tearing up everything Biden did because Biden did it. He did the same thing with as much of Obama’s legislative agenda as he could.
It’s pure pettiness. He can’t allow his predecessors to have a legacy. His ego cannot afford it.