Trump promised voters tariffs are a panacea for the economy, but Walmart finance chief John David Rainey warned they will be inflationary for customers.
The amount of money it would take to move manufacturing back to the US would cost billions and companies aren’t going to do that. They would have to pay to import (with tariffs, still) any raw materials that can’t be made or mined here. Companies are just going to move their manufacturing to Vietnam another SE Asian country (some are already doing it), where labor is still cheap. And labor here for manufacturing wouldn’t be cheap. The company would have to worry about unions, and this country does not like unions (or labor, for that matter).
The amount of money it would take to move manufacturing back to the US would cost billions and companies aren’t going to do that. They would have to pay to import (with tariffs, still) any raw materials that can’t be made or mined here. Companies are just going to move their manufacturing to Vietnam another SE Asian country (some are already doing it), where labor is still cheap. And labor here for manufacturing wouldn’t be cheap. The company would have to worry about unions, and this country does not like unions (or labor, for that matter).