WASHINGTON (AP) — Democrats and Republicans don’t agree on much, but they share a conviction that the government should help American manufacturers, one way or another.
Democratic President Joe Biden handed out subsidies to chipmakers and electric vehicle manufacturers. Republican President Donald Trump is building a wall of import taxes — tariffs — around the U.S. economy to protect domestic industry from foreign competition.
Yet American manufacturing has been stuck in a rut for nearly three years. And it remains to be seen whether the trend will reverse itself.
The U.S. Labor Department reports that American factories shed 7,000 jobs in June for the second month in a row. Manufacturing employment is on track to drop for the third straight year.
IDK seems to me Trump is basing everything on just serving the home market, and pissing everybody else off with his baseless trade war.
Catering only to a home market in recession, is probably just about the most idiotic strategy to support the industry, in the history of industry.
Let me see, when was the last time “we” did that?
Oh yeah, that was during the great depression!
Also his idea of serving the home market is poison
He’s a moron that doesn’t understand economics and ignores the advice of anybody smarter than him (which is pretty much everyone). He has an incredibly simplistic concept of how domestic markets work and doesn’t even remotely understand international trade. All he sees is the word “deficit” in “trade deficit” and thinks that means the US isn’t getting paid for its exports. It’s why he’s so hung up on the concept of tariffs (which also don’t work like he thinks they do).
The only thing Trump has ever understood is how to rip people off. If he had been born to someone poor Trump would be running the sleaziest used car lot for a thousand miles around somewhere.