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US farmers back Trump but face pain from China tariff threats
(www.reuters.com)
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this post was submitted on 08 Nov 2024
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US exports are limited to war, Boeing, Caterpillar, Deere, agriculture and climate terrorist energy. The Trump promise of reindustrialization of US is a fake one. If universal tariff threat is followed through, certain recession. Placing them on the world, is not going to strengthen alliances.
Just because DNC/Biden/Harris rolled over for Trump doesn't mean rest of the world will. But that is the big geopolitical question.
The problem is that the US no longer has the production facilities and capabilities for so many basic things. How many screws are actually made in the US? How many electronic components, not just processors, but capacitors and resistors? All the ingredients for the chemical and pharmaceutical industry? They basically all come from China.
Yes. The CHIPS act making processors, will still send them over to Asia to make motherboards. Robotics in China is much more advanced because that is where all the customers are, and you need a lot of hands on tinkering help from manufacturer to get them to work with other processes. Boston Dynamics may be smartest in the world, but they are just making warehouse robots, and I doubt their sales are high.
Trying to build the full industrial support structure for "highest tech" industries while tariffing all imports is just an extremely tough investment proposition.