Trump's trade war is perceived by some administration officials as a potential trigger for a manufacturing resurgence in the US. However, many economists express skepticism about this perspective. Concerns center around Trump's unpredictable tariff policies and their negative impact on production costs, which could decrease competitiveness. Consistency in policy is essential for fostering manufacturing investment, yet Trump’s changing strategies undermine this stability. Economists suggest that the supposed returns of domestic manufacturing under Trump's tariffs are unlikely to materialize, highlighting a broader concern about the overall effectiveness of his trade policies.
Trump's tariffs will reduce the competitiveness of US manufacturing and reduce manufacturing employment. They're raising the costs of production to US manufacturing companies.
The erratic, on-again-off-again rollout of Trump's tariffs has already gone far to doom the president's hopes of inspiring a huge wave of manufacturing investment.
For the policy to be successful, it has to be consistent over a long period. People need to believe it's going to last.
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