In a bold April move, U.S. leadership unveiled sweeping tariffs, promising a revival of the "Made in America" era. The idea was simple: make imported goods more expensive to spark domestic production. But is the plan a game-changer or merely an illusion? 🤔
Modern manufacturing is a global symphony where every part plays a crucial role. Major companies, like Apple, design their products in California, source precision components from Japan and South Korea, and rely on final assembly in the Chinese mainland and Vietnam. With nearly 60% of U.S. imports being essential intermediate goods, imposing high tariffs only hikes production costs, risking competitiveness at home and abroad.
This repatriation strategy, though well-intentioned, may backfire by disrupting interconnected global supply chains. It serves as a reminder that in today’s complex world, a simple fix can lead to unforeseen challenges for domestic industries.
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How the illusion of repatriation undermines 'Made in America'
cgtn.com
