US car companies will soon have to be competing with the
first cars from China to be sold in the US. The cars are expected to sell at about 30% below their US competition.
We managed to work things out with the Japanese such that the Toyota I bought five years ago was actually made in this country. The tariffs make it improbable that they could sell non-luxury cars at the resulting markup, so they bring jobs here. Will we, can we, do the same with China? They don't have nearly the labor costs the Japanese do, so I somehow doubt it.
Bye-bye, Detroit. Hello, five year glut of 'discouraged workers' & decades long glut of 'underemployed.'