Here's a counter argument to my claim that the US cannot bring its manufacturing back onshore. Guardian Bikes brought their bicycle manufacturing to the US from China, and they're moving to acquire all components domestically.
While Guardian are well organised, I still think that the availability of a skilled labour force will be the problem for the US as a whole.
An American woman investigates whether it possible to live without buying anything imported from overseas:
Interesting views here, China has experienced unprecedented levels of growth and are now ascendant. They listened, learned and implemented measures that worked. And what does the US do? It sets out to stamp on them, not ask them how they did it and learn themselves.
A lot to unpack here, no idea who this bloke is, but he's very bright. I like his idea that what we're seeing now is huge wealth transfer - again. That's because the US must always import some things, it simply has to. So these imports will be tariffed, making the price of everything in the US much higher. The US doesn't have the manufacturing capacity to substitute with its own output.
So, people on lower incomes will pay higher prices, an effective tax in other words. Small business will be driven to the wall, they're collateral damage. The winners will be large corporates which can fund the imports, and the difference between retail prices and the cost of production will be subsidised by the taxpayer. The people end up paying twice, another wealth transfer. Sounds logical, and explains why the takedown of the US economy.
