Trump is on target to restore America back to the sanity before 4 US idiot presidents gave China unrestricted access to our massive/valuable MARKET, while our exporters to China were blocked with 25% tariffs. The solution for US manufacturers in China, facing exporting becoming no longer economical, is to move back to the US, thereby
1. Avoiding the US tariffs
2. Avoiding the heavy shipping costs
3. Taking advantage of the new, much lower corporate tax
4. Taking advantage of the new,much reduced level of business regulation.
5. and realizing that Chinese wages are far higher now than they used to be.
The reasons for US manufactures moving overseas have largely dissipated, and the main thing keeping many US manufacturers there is simply economic inertia. It does cost money to move, but over the long run, it's now advantageous for these companies to do that ASAP.
I don't know how this craziness started exactly, but my best guess it was from a weak president (Bush 41) trying to secure US safety from China nuclear weaponry.
No. They haven't. It doesn't matter how much China pays for labor, it will never be close to the costs for U.S labor. Their lax enviro issues are also a factor, even though trump's EPA is incompetent.
trump doesn't understand much about the economy. He can't just run up debt, and walk away from his obligations in search of Russian financing. He believes that trade is a zero sum game, so he imposed tariffs in an effort to level what he perceives is the playing field. He didn't do it because he believes that it will bring back jobs. That's not what his tariffs will do.
If he wanted to use taxes to repatriate jobs, his tax policy would have given severe cuts only to companies that bring jobs back, or continue to manufacture here.
Tariffs don't bring jobs back in the short term. They destroy economies, as prices rise on goods while the target of the tariffs simply skirt same by shipping to a country not covered under the tariffs, before shipping to the U.S.
Obama's tax on Chinese tires didn't bring tire manufacturing back. I increased the purchase of tires from other countries, while adding 30% to what we paid for rubber.