President Trump’s new tariffs aim to revive American manufacturing by bringing jobs back to the U.S., but experts warn that this approach won’t achieve its promised goals. Many Americans, including Trump supporters, believe that domestic manufacturing will solve issues with affordability and access to quality goods.
However, this assumption is based on a misconception of causation versus correlation. The decline in domestic manufacturing has not led to widespread economic hardship; rather, it’s the result of policies like high marginal tax rates, strong social policies, and unions that have protected workers’ rights since World War II.
During the post-war era, when American manufacturing was at its peak, racial and socioeconomic disparities were already present. Black men and women faced significant wage gaps compared to their white counterparts, despite working in manufacturing jobs. The decline of unions, high taxes, and regulations has exacerbated these inequalities.
The nostalgia for a bygone era of manufacturing is misplaced frustration with the current DIY society that lacks adequate support systems. Trump’s tariffs might push the U.S. back towards the precarious conditions of the Gilded Age, when workers faced hazardous work environments and limited social safety nets.
Unless policymakers address the systemic issues driving income inequality and worker precarity, Trump’s promise to bring back manufacturing jobs will only benefit a select few, leaving many Americans struggling to access affordable goods and quality employment opportunities.
Source: https://www.msnbc.com/opinion/msnbc-opinion/trump-tariffs-manufacturing-jobs-stock-market-rcna200058