At the end of the day, it is about subsidizing an inefficient labor market. For the tariff to bring low value jobs back, it will have to be significant. Offshoring will still be more resource efficient, so you are better off paying back the tariff fees as welfare than bringing the jobs back. It would be much better to use the funds to re-educate this part of the population to work higher value jobs.
It is also disregarding the externalities of enacting a tariff. So we put something in place to bring electronic manufacturing back from China. They still control most of the raw materials, and can put their own tariff in place on export of those materials, further reducing our competitiveness. International politics are not so simple.
It is also disregarding the externalities of enacting a tariff. So we put something in place to bring electronic manufacturing back from China. They still control most of the raw materials, and can put their own tariff in place on export of those materials, further reducing our competitiveness. International politics are not so simple.