Former US President Donald Trump stated that if he returns to office, he will bring scores of manufacturing facilities and jobs to the country, **triggering a “mass exodus” of manufacturing from countries like South Korea to the United States.**
Speaking about economic issues during a campaign speech in Savannah, Georgia, on Tuesday, Trump pledged to spark a “manufacturing renaissance,” telling his supporters, “We will take other countries’ jobs.” To achieve this, the former president announced plans to appoint a global manufacturing ambassador, who would be tasked with persuading major foreign companies to relocate their production to the US.
Trump outlined plans to slash regulations aimed at “relocating entire industries” to the US and reaffirmed his commitment to cutting the corporate tax rate from 21% to 15%. Promising to bring key foreign production facilities to the country, he stated, **“You will see a mass exodus of manufacturing from China to Pennsylvania, from Korea to North Carolina, from Germany right here in Georgia.” He repeatedly emphasized that “we’re going to take other countries’ jobs” and “we’re going to take their factories.”**
The three states to which Trump promised to bring production facilities from China, **South Korea** and Germany — Pennsylvania, North Carolina and Georgia — are key battlegrounds in the upcoming election, and his remarks are seen as part of his strategy to appeal to white working-class voters. He added, “This new American industrialism will create millions and millions of jobs, massively raise wages for American workers, and make the United States into a manufacturing powerhouse like it used to be many years ago.”
Trump’s promises to actively and overtly relocate manufacturing facilities and quality jobs not only from China but also from **US allies like South Korea to the United States would almost certainly have negative economic repercussions for those countries if they were to come to fruition.**
In other words, his comments amplify the economic risks associated with his reelection. Governments typically use terms like “attracting investment,” rather than the more aggressive word “take.” In contrast, the Biden administration has used the term “friend-shoring” under the guise of attracting manufacturers from allied countries to strengthen supply chain stability.
**Moreover, Trump made it clear that he plans to use high tariffs as a way to force foreign companies to move production to the US.** “I want German car companies to become American car companies. I want them to build their plants here,” he said, warning that companies that do not produce their goods in the US will face “a very substantial tariff.”
Washington has already raised tariffs on Chinese-made electric vehicles from 25% to 100%, and Trump warned that he would impose the same 100% tariff on vehicles produced by Chinese companies in Mexico to prevent them from bypassing US tariffs through the free trade agreement between the US and Mexico. He has also proposed a “universal tariff,” which would add additional duties on top of existing tariffs.
The former president’s plan to force foreign companies to manufacture in the US if they want to sell in the American market relies on near-coercive tactics, such as imposing steep tariffs. Those aligned with Democratic presidential candidate Kamala Harris, along with many economists, have pushed back, arguing that high tariffs would drive up prices and that cutting corporate taxes would increase the federal deficit.
**Meanwhile, the Financial Times recently reported that South Korea pledged a record US$21.5 billion in investment in the US last year, a surge largely attributed to the Biden administration’s electric vehicle and semiconductor subsidy policies.**
ApplauseButOnlyABit on
If this dude wins, we are screwed on both sides of the Pacific. And Europe too….
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Former US President Donald Trump stated that if he returns to office, he will bring scores of manufacturing facilities and jobs to the country, **triggering a “mass exodus” of manufacturing from countries like South Korea to the United States.**
Speaking about economic issues during a campaign speech in Savannah, Georgia, on Tuesday, Trump pledged to spark a “manufacturing renaissance,” telling his supporters, “We will take other countries’ jobs.” To achieve this, the former president announced plans to appoint a global manufacturing ambassador, who would be tasked with persuading major foreign companies to relocate their production to the US.
Trump outlined plans to slash regulations aimed at “relocating entire industries” to the US and reaffirmed his commitment to cutting the corporate tax rate from 21% to 15%. Promising to bring key foreign production facilities to the country, he stated, **“You will see a mass exodus of manufacturing from China to Pennsylvania, from Korea to North Carolina, from Germany right here in Georgia.” He repeatedly emphasized that “we’re going to take other countries’ jobs” and “we’re going to take their factories.”**
The three states to which Trump promised to bring production facilities from China, **South Korea** and Germany — Pennsylvania, North Carolina and Georgia — are key battlegrounds in the upcoming election, and his remarks are seen as part of his strategy to appeal to white working-class voters. He added, “This new American industrialism will create millions and millions of jobs, massively raise wages for American workers, and make the United States into a manufacturing powerhouse like it used to be many years ago.”
Trump’s promises to actively and overtly relocate manufacturing facilities and quality jobs not only from China but also from **US allies like South Korea to the United States would almost certainly have negative economic repercussions for those countries if they were to come to fruition.**
In other words, his comments amplify the economic risks associated with his reelection. Governments typically use terms like “attracting investment,” rather than the more aggressive word “take.” In contrast, the Biden administration has used the term “friend-shoring” under the guise of attracting manufacturers from allied countries to strengthen supply chain stability.
**Moreover, Trump made it clear that he plans to use high tariffs as a way to force foreign companies to move production to the US.** “I want German car companies to become American car companies. I want them to build their plants here,” he said, warning that companies that do not produce their goods in the US will face “a very substantial tariff.”
Washington has already raised tariffs on Chinese-made electric vehicles from 25% to 100%, and Trump warned that he would impose the same 100% tariff on vehicles produced by Chinese companies in Mexico to prevent them from bypassing US tariffs through the free trade agreement between the US and Mexico. He has also proposed a “universal tariff,” which would add additional duties on top of existing tariffs.
The former president’s plan to force foreign companies to manufacture in the US if they want to sell in the American market relies on near-coercive tactics, such as imposing steep tariffs. Those aligned with Democratic presidential candidate Kamala Harris, along with many economists, have pushed back, arguing that high tariffs would drive up prices and that cutting corporate taxes would increase the federal deficit.
**Meanwhile, the Financial Times recently reported that South Korea pledged a record US$21.5 billion in investment in the US last year, a surge largely attributed to the Biden administration’s electric vehicle and semiconductor subsidy policies.**
If this dude wins, we are screwed on both sides of the Pacific. And Europe too….
They terk err jerbs