US companies have bailing out of the country to avoid the excessive regulation. They have been locating in countries with lower standards to provide the American public with products that do not cost an arm and a leg. Low prices are why Wal-Mart type stores are so popular.
Every time someone complains about a product issue, a whole slew of laws, regulations, and oversight agencies are adopted, with an increase in product prices to the consumer to cover the compliance costs.
Regulatory compliance is the single most daunting barrier to entry, and eats up huge amounts of profit. Now, to add insult to injury, Mexican trucking companies, not subject to the same onerous standards, will be allowed to roll right in and squeeze American industry further.
It is the dual standards and over regulation of our industry that is the issue here. We can no longer compete effectively. We end up requiring new regulations to cover the short-sightedness of the old regulations. Then come the tarrifs and subsidies so we can remain competitive. Who ends up paying? We, the consumer.
Lessen those regulations on our industry and we can market competitive products at competitive prices, and producers can still make a profit.
Or bang foreign products without these burdens with a tariff to make up the difference. I don't think tariffs should reflect wage differences. We will just have to work smarter to maintain our standard of living. If the foreigners catch up in the regulation sphere, the tariff goes away.
China charges a 17% tariff on our products. They have some balls, with their slave labor and brown clouds.