In the last 4 years - 5 MILLION jobs have been reshored from China to the US and Mexico. 4 million to Mexico. 1 million to the USA. But, the percentage of jobs going to the USA is climbing dramatically.
“President Donald Trump pledged to end U.S. reliance on China and bring back 1 million manufacturing jobs in his second term. He recently proposed providing tax credits and allowing “100 percent expensing deductions for essential industries like pharmaceuticals and robotics” to incentivize companies to produce in the United States.”
Add in the effect of the second half of the tariffs being implemented, and that giant sucking sound will be heard around the world.
100% expensing means that companies will get to invest the money they would otherwise pay in taxes, into their business. It is potent.
The second term would likely see more movement than the first. The difficult spadework is done, the earlier incentives will continue to work as additional new ones are added, and Global business opinions have shifted radically toward diversifying out of China.