Impact of Tariffs on Manufacturing in the United States
Sen. Chris Coons of Delaware believes that large tariffs will not bring back steel or auto plants to his state in the short term due to high manufacturing costs. He criticizes the Trump administration for cutting funding to a program that supports small and medium manufacturers.
Key Points
- High tariffs won't bring back closed plants in Delaware in less than five or ten years.
- Manufacturing costs in the U.S. are still too high for competitiveness.
Cons
- Large tariffs may not bring back steel or auto plants in the short term due to high manufacturing costs.