There's an old saying -- "You catch more flies with honey, than you do with vinegar."
Import tariffs are the proverbial vinegar, compared to the 'honey', which would be sharply reduced business taxes and federal regulations.
Understand that, those American companies that now have significant manufacturing operations outside the territorial U.S., will not be motivated to "bring the jobs home" if they're hit with yet another tax by their government.
Begin levying import tariffs, and lots of U.S. companies will finally throw in the towel on this country altogether. There's little stopping most of them from re-incorporating under another country's flag.
Wanna bring jobs home? Then do what it takes to make America a more attractive place to do business, and businesses will respond accordingly.
You can eliminate every tax and regulation and you still couldn't compete with $2/day wages in China. The job flow is going to continue until our wages match theres, or until we restore the import tariffs.
Understand that, those American companies that now have significant manufacturing operations outside the territorial U.S., will not be motivated to "bring the jobs home" if they're hit with yet another tax by their government.
Wrong! It depends on who they are selling their manufactured products to. We are the largest consumer market. In many cases, we're still their primary market. They are overseas producing to sell back to America, not the rest of the world. And even if they have enough non-American sales, they aren't going to want to forego the American market. They will do just like Nissan did when Reagan pressured them. They will produce in the USA.
Begin levying import tariffs, and lots of U.S. companies will finally throw in the towel on this country altogether. There's little stopping most of them from re-incorporating under another country's flag.
They can reincorporate in another country, but they won't be able to sell to the American market without paying the tariff. So there is no benefit to leaving. They can remain here and pay the tariff on imported parts or they can leave and pay the tariff on the entire product. Or more likely lose market share to an American producer.
Besides with the import money you can lower corporate and individual income taxes. That way not only are Americans buying from fellow Americans and keeping them employed, but the Americans are keeping more of their money to spend locally.