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the the Wall Street newspaper reports that Donald Trump's rates are, uh:
US manufacturers are shifting their production to countries other than China, while trade tensions between the world's two largest economies have been prolonged for a second year.The main beneficiaries of this decline were other Asian countries 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, chief executive of CommScope Holding Co., in June. Hickory, North Carolina, manufactures antennas for sale in the United States at its factory in India instead of China.
Expect. What about America?
However, it is unlikely that US manufacturers have reduced their Chinese production to the United States. A decision that the Trump administration hoped the tariffs would encourage. While imports from other Asian countries rose, manufacturing output in the United States declined 1.5% in May from a recent peak in December, according to the Federal Reserve. The Institute for Supply Management said earlier this month that its manufacturing index fell again in June, reaching its lowest level since 2016.
US imports from China in 2019 and the other ten leading losers totaled $ 39.5 billion less than last year. However, imports of the top ten winners total $ 38.5 billion more:
Anyone who wants to pretend that it's good news for American workers is just joining Trump's cunt. The tariffs imposed on China could eventually force them to change some of their bad business behavior – if Trump is smart enough to make a serious deal – but that's it. It will do nothing to bring low-value manufacturing back to the United States.
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