The latest message from the administration team usa is proposing a 10 percent tariff on all imports. The move is seen as an attempt by the president-elect, Donald Trump, to follow his speech, which pointed China manufacturer as a threat, and North American Free Trade Agreement as useless.
In encouraging Americans inner manufacturing, this policy, however, tells only one side of the story. It is undenied that this could incite that this would also hurt exports of US, and world economy.
CNN reports the incoming administration has been warned the move would anger allies, raise a potential trade war, and even hurt the formor effort of boost the rate of economic growth.
Their also other voice to suggest The new administration team to focus on tax reform, instead of trade tarrifs.
An interesting story is that when President-elect’s own daughter, Lvanka Trump, trying to move her production line of apparel in US, she find it nearly impossible and quoted as saying”costly and impractical”.
While no one seems to be against the idea of boosting manufacturing at home, the question remains to what degree that is even possible, especially when it comes to apparel and hometextile. Get ready to pay more in stores!
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