Posted on 08/01/2019 12:22:37 PM PDT by SeekAndFind
When US President Donald Trump’s administration imposed tariffs on US$250 billion of Chinese goods last year, the move was sold to the American public as a magic bullet that would bring jobs back to the US. It misfired.
Under mounting pressure as tariffs threaten to drive up costs, US manufacturers in China are indeed packing up and heading elsewhere. Companies including Nike, Crocs, Roomba and GoPro are now producing most of their goods outside the country, having set up operations in Vietnam, India, Bangladesh and Mexico. Dell, Sony, Nintendo and HP are reportedly considering such moves. But very few are moving back to the US.
“Trump’s tariffs may have sent the message to ask US companies to consider reshoring, [but] very few will actually follow through,” said Daniel Ikenson, director of the Centre for Trade Policy Studies at the Cato Institute, a non-partisan think tank. “Making products in America has become too expensive.”
Trump said the US was “winning” the trade war after a temporary truce was struck in late June with his Chinese counterpart, Xi Jinping.
But as the US and China engaged in a fresh round of talks this week in Shanghai after a long stalemate, there were few signs of an American manufacturing renaissance.
Manufacturers continue to view countries other than the US as more desirable locations to produce or purchase a wide variety of goods, according to the consulting firm A.T. Kearny. Its Reshoring Index, which tracks the amount of US goods imported from other countries and manufactured domestically, decreased for the third year in a row in 2018 despite Trump’s trade measures. While tariffs did help push US companies out of China and into other parts of Asia, they have not been responsible for producing more US jobs, analysts say.
(Excerpt) Read more at scmp.com ...
Those things take a while.
The US also needs to loosen some of the tough regulations that influenced manufacturers to get out of here.
It is still to our benefit not to be overly reliant on China.
Axis Sally and Tokyo Rose were pikers compared to today’s MSM.
Companies including Nike, Crocs, Roomba and GoPro are now producing most of their goods outside the country, having set up operations in Vietnam, India, Bangladesh and Mexico. Dell, Sony, Nintendo and HP are reportedly considering such moves. But very few are moving back to the US.
EITHER WAY...
KcuF China...
Wow in two years manufacturing hasn’t returned after 30 years of off shoring? LOL. These myopic idiots are so FOS.
Wait until Trump puts tariffs on those other countries too.
Tariffs need to be uniform and across the board.
A bit of Chinese face saving propaganda from South China News.....
Chicom fake news
Consider the source, like I would believe a stinking thing they say...
They can take a flying leap.
Lol.
Jeez, South China Morning Post is filled with Beijing-based propaganda today.
Winnie the Pooh is feeling the heat.
looks like 5.9% are relocating to USA... from the chart... i guess they expected all of them...
Trump wins again.
“Axis Sally and Tokyo Rose were pikers compared to today’s MSM.”
Exactly. Even Baghdad Bob look more of a fool than today’s commie mouthpieces..
Nothing happens overnight - jobs leaving took a couple of decades to play out, and so will bringing back a bunch of them.
But thanks to the propaganda arm of the Chinese Communist Party for trying to undermine Trump’s efforts against your employers...we’d be disappointed if you didn’t at least try.
I remember when the jumped on Reagan when his tax cuts didn’t IMMEDIATELY turn around the economy. And then after a couple years it boomed, and then kept booming for 15 years or more.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.