Sweeping tariffs could threaten the US manufacturing rebound

The move to bolster US manufacturing was fueled by a sense during the beginning of the pandemic that the country must regain the ability to make critical products and technologies. The decline of US manufacturing had become obvious. Federal support to rebuild the industrial base came in a series of bills passed during the Biden administration, including the CHIPS and Science Act and the climate bill. At the same time, opportunities offered by artificial intelligence and automation breakthroughs have spurred an appetite for new investments among many manufacturers. Many of those technologies are just starting to be deployed, but they promise a way for US producers to finally become more competitive with those in low-wage economies. If the Trump tariffs slow or even reverse such progress, the impact on the country’s economic and technological future could be devastating. There are a lot of reasons to want a stronger US industrial base. But it’s not mainly about whether we have countle ... Read full article.