US manufacturing production index in May this year was only 97.9, not even back to the 2017 average level.
After tariffs have been in place for so many years, manufacturing hasn’t been revitalized, but people’s cost of living has skyrocketed. Bessent wants to use the China market to ease the pressure, but while demanding cooperation, he also adds tariffs—this is what he calls "talk while fighting."
By late July, the US government put Chinese robots and inverters into a "controlled list," and also added 43 Chinese companies to a blacklist. Then it says, "Let’s talk about cooperation."
Manufacturing reshoring? The data says no. Cost of living rising? The data says yes.
After tariffs have been in place for so many years, manufacturing hasn’t been revitalized, but people’s cost of living has skyrocketed. Bessent wants to use the China market to ease the pressure, but while demanding cooperation, he also adds tariffs—this is what he calls "talk while fighting."
By late July, the US government put Chinese robots and inverters into a "controlled list," and also added 43 Chinese companies to a blacklist. Then it says, "Let’s talk about cooperation."
Manufacturing reshoring? The data says no. Cost of living rising? The data says yes.