The post above is from a few days ago but came across this today. A little more from U.S. export point of view.
Spot on. From a reliable source.
It doesn’t give much weight to the talk earlier this year that the US needed to ease its dependence on Chinese imports.
The US cannot “ease” it’s dependence on Chinese imports unless US companies who shifted their manufacturing to China decide to move back to the US. Of course then the cost of the manufactured goods would go up. That will never happen. US owned corporations sell to the world market, not the USA exclusively. The US imposed tariffs on certain goods from China. Did China pay? No. The importer in the US paid. Some ate the cost, the rest passed the cost on to the US consumer. Should the US do something really extreme like prohibit imports from China completely the US owned companies operating in China will simply move to Viet Nam, Philippines or Indonesia. It is a world economy now. The US ‘could’ employ tens of thousands of workers in updating the deteriorating infrastructure in the US. The US could develop and manufacture critical components for medicines, electronics, etc. Both parties talk about it but nothing happens unfortunately. They’d rather argue about masks in the midst of a pandemic. Geez…