US President Donald Trump’s decision to impose sweeping tariffs on China has thrown the economy into turmoil, with markets plummeting under pressure from Wall Street. However, experts say that this strategy will not bring back jobs lost due to globalization.
The “China syndrome” or “China shock,” a term coined by David Autor, David Dorn, and Gordon Hanson in 2013, refers to the estimated two to three million US manufacturing jobs lost between 1999 and 2011. Many more have been lost since then. The affected communities experienced lower wages, higher unemployment, and increased opioid addiction, social instability, and political polarization.
While some workers were able to retrain or relocate, many others couldn’t easily do so, especially older ones or those in distressed communities. Globalization has led to wage stagnation for workers without college degrees, as the labor market became more competitive and bargaining power weakened.
Tariffs are unlikely to solve America’s competitiveness problems. The strategy can be used to gain leverage or unfettered access to foreign markets, but at the expense of American people’s purchasing power. Moreover, strongarming countries and companies into investing in America will only go so far, as transferring ecosystems around particular products takes many years.
To address the issue, slashing research funding across the board does not make sense, as it eliminates the “commons” that all American corporations benefit from. Instead, addressing the root cause of Wall Street v Main Street would be necessary. The problem will only get worse unless someone addresses it, whether it’s President Trump or his successors.
Source: https://www.aljazeera.com/opinions/2025/4/11/sorry-america-tariffs-wont-bring-jobs-back