Letters | Could Trump even convince American workers to make iPhones?
Readers discuss why bringing manufacturing jobs back to the US is easier said than done, and the West’s changing attitude towards China
The Trump administration’s recent trade policies have upended the global economic order and seriously damaged the US’ legitimacy and credibility as a reliable trade partner. By imposing tariffs on countries across the board, the United States has antagonised traditional allies like Canada, Europe and Japan, while politically alienating itself from the rest of the world.
Economically, the US will suffer as well. High tariffs are likely to cause inflation and push up interest rates, which will hurt domestic consumption and economic growth. Counter-tariffs will slow US exports, ultimately resulting in business closures and rising unemployment at home. To make matters worse, the US has to refinance one-third of its debt at a higher interest rate this year. This is a classic case of a self-inflicted body blow. In a war of attrition, everyone loses.
For about two decades, successive US presidents focused on Wall Street and Silicon Valley as the primary drivers of the economy, often at the expense of the country’s industrial base. Trump has underestimated the challenges of bringing manufacturing jobs back to the US and done little to manage his country’s expectations.
Robert Chi Hong Lee, Pok Fu Lam