Tariffs and trade agreements neither cause nor resolve the trade deficit.
Robert E. Scott, economist at the Economic Policy Institute (EPI), points to misalignment of the dollar and the Chinese yuan as the most important, and most overlooked, factor causing the offshoring of millions of U.S. manufacturing jobs.
- Read his opinion piece in The New York Times here.
- His full EPI study, “The China Toll Deepens,” shows that between 2001 and 2017, the growing bilateral trade deficit cost 3.4 million U.S. jobs, impacting every state and congressional district.
- His views align with our policy recommendations in the Competitiveness Toolkit.
Two National Reshoring Awards offer opportunities to gain recognition for your reshoring success.
Show other companies that reshoring is achievable and demonstrate real alternatives to tariffs:
- The Second National Reshoring Award recognizes the leading U.S. example of reshoring in the production of products, parts or tooling made primarily by metal forming, fabricating or machining, including additive machining. AMT, NTMA, PMA and the Reshoring Initiative are sponsoring the award. Apply by January 31, 2019.
- The First SEAMS National Sewn Products Award recognizes the nation's leading examples of reshoring in the sewn-products industry. Three award categories cover contract manufacturers, brands/OEMs and equipment/technology suppliers. Find full details on eligibility and award criteria here. Final applications are due by February 21, 2019.
Both in-house production and domestic outsourcing are eligible for both awards. OEMs and job shops may apply. You still have time to reshore and win an award. Email us for help!