China won the trade war. China makes things much more efficiently than any western industry can. Neoliberalism hollowed out western engineering capacity and viability...and outsourced much of it to China.
US figures may show a modest increase due to the state funded investments Trump is making in response to China winning the trade war- investments in AI, rare earths, microchip fabrication and automotive assembly also supported by a large tariff program.
Despite the US drive to revive US industry the systemic changes required to make USA competitive again with China are far more extensive than anything Trumps tariffs and state capitalist spending are doing.
China has won the trade war and so now USA is trying to militarily cut off Chinas energy supplies and strategic trade partners while reinforcing petrodollar hegemony.
The clock is ticking as US military industrial combine cannot produce most of its high tech miltary products while Chinas embargo on export of refined rare earths to any US associated military purposed end user remains in place.
Trump may be hoping to cut off Chinas oil and gas imports and bargain for restoration of refined rare earths supply...at least until US allied refined rare earths supplies are available, which is still several years away.
From a market led perspective it makes no sense to make in your own country like Canada or New Zealand when China can manufacture at much lower cost- it is only because US de-industrialisation has military and strategic consequences that Trump and Biden have embarked up major state capitalist investments and tariffs.
China won the trade war.
China makes things much more efficiently than any western industry can.
Neoliberalism hollowed out western engineering capacity and viability...and outsourced much of it to China.
US figures may show a modest increase due to the state funded investments Trump is making in response to China winning the trade war- investments in AI, rare earths, microchip fabrication and automotive assembly also supported by a large tariff program.
Despite the US drive to revive US industry the systemic changes required to make USA competitive again with China are far more extensive than anything Trumps tariffs and state capitalist spending are doing.
China has won the trade war and so now USA is trying to militarily cut off Chinas energy supplies and strategic trade partners while reinforcing petrodollar hegemony.
The clock is ticking as US military industrial combine cannot produce most of its high tech miltary products while Chinas embargo on export of refined rare earths to any US associated military purposed end user remains in place.
Trump may be hoping to cut off Chinas oil and gas imports and bargain for restoration of refined rare earths supply...at least until US allied refined rare earths supplies are available, which is still several years away.
From a market led perspective it makes no sense to make in your own country like Canada or New Zealand when China can manufacture at much lower cost- it is only because US de-industrialisation has military and strategic consequences that Trump and Biden have embarked up major state capitalist investments and tariffs.