Many manufacturing industries from kitchen cabinets in Alabama to solar in Ohio are thriving because of tariffs—thanks to Donald Trump
For those who roam within credentialed economic circles and discuss markets with hedge fund managers at the Harvard Club, tariffs are sacrilegious. Speak kindly of them and you're a free market heretic. It's practically un-American.Sadly for them, tariffs that began in 2018 have not destroyed the U.S. economy. The stock market did not crash. Tariffs weren't the cause of inflation either.
The 2018 washing machine tariffs led two Korean manufacturers, Samsung and LG, to open manufacturing plants in the U.S.—one in Tennessee and the other in South Carolina. They employ about 1,000 people each, creating jobs and contributing to local prosperity outside of crowded and expensive urban areas.In both cases, prices rose briefly but then settled back to pre-tariff levels due to competition.
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