Trump's erratic on-again, off-again tariff approach torched any illusion of stability and 🔥 what minimal credibility he enjoyed.
As a result, CEOs do not believe tariffs are permanent. Prevailing view: tariffs will disappear when Trump finds a new shiny object or he leaves office. 2/
As a result, CEOs do not believe tariffs are permanent. Prevailing view: tariffs will disappear when Trump finds a new shiny object or he leaves office. 2/
Comments
To start, Americans do not realize the scale.
The plant that makes iPhones employs 300,000 workers.
How many cities have a pop greater than 🤔
Pop. China USA
10M 18 0
5M 29 1
1M. 140 10
3/
Did I mention, the average hourly wage in the Foxconn plant is ~$3.50/hour?
Where in the USA are 300,000 unemployed Americans looking to jump all over a job for LESS than $3.50/hour?
Maybe if we turned N. Dakota into a work camp. /4
China is no longer the low-cost leader when it comes labor rates. Labor rates in Asian are up to 60% lower than China.
So, again, those jobs are not coming to a cornfield near you.
/end