It's a well-written article about why tariffs won't work. I think everyone on Lemmy probably knows that already though. What I found interesting is that every developed country seems to follow the same trend. Pushing for going back to manufacturing might be the national equivalent of "I don't want to grow up!".
This seems like a way better approach:
A recent report from Tim Bartik at the Upjohn Institute suggests that the most impactful policies for struggling manufacturing-heavy communities include:
Customized services for small and medium businesses, including manufacturing extension services and job training services
Public spending on education, from preschool and K-12 to colleges and universities, as well as vocational education and job training programs for workers
Public investment in infrastructure and increasing land supply for business and housing development
Less effective policies include broad tax cuts for business, targeted business attraction incentives and attempts to reduce workers’ wages. One of the best ways to fund investment in distressed communities is with broad-based tax increases, while one of the worst ways is to cut K-12 education spending.
