I didn’t try to search this because I’m not good at it. I never find anything.
If everyone living inside the U.S. made a concerted effort to buy only U.S. made goods first thing tomorrow morning, how would it effect our economy?
Foreign economy, world economy?
I’m aware of the trickle-down we get from buying foreign goods, what would possibly
be the trickle-up effects?
Please spare me the you’re so stupid replies. It’s an honest question.
Even if it’s voluntary the world would assume it’s official protectionism and increase that in their own economies. This will probably lead to tariffs worldwide and trigger an upward spiral of cost inflation.
Also, we’ll probably run out shoes pretty quickly.
I imagine that it would boost the US economy significantly, but it would also increase the cost to the American consumer by quite a bit in many cases, because cheap foreign stuff is ubiquitous, and the US substitutes are often higher-end and more expensive. Some other items may be common enough to not necessarily raise prices in the short term.
In the short-medium term, there would be shortages and the associated higher prices due to inadequate production on most items that aren’t already dominant in the market.
In the long term, prices would rise, then fall, but stabilize out higher than they were prior to the mass-switchover to US-made goods, if only because labor costs are quite a bit higher in the US than places like Vietnam, China and Mexico, even if the materials and transport costs are the same.
There would probably be some jobs created, but anything and everything that could be automated would be, for the same labor cost reasons.
US manufacturers would now start making lower-end versions of items to serve that market previously held by the cheap foreign stuff.
There are a very small number of clothing manufacturers that may qualify, some foods(if they reformulate to include U.S.A produced ingredients only). Automobiles are out, as are most electronics. Most spices-out.
I believe it would hurt us in the long run, if not the short run. The US is not this ‘great nation’ that it’s citizens are lead to belief but part of a world and fit into that world. Isolating itself will only hurt, but there could be a short term gain (or loss), but in the end only loss. All MHO
There are lots of products that simply aren’t made in the US so either we exempt those products or go without. The US consumer has traditionally had a problem with going without.
And my clothing, which nobody wants. Plus most of your out-of-season foods. That will kill any number of small restaurants.
Heck, for that matter you can kiss off salads in toto. I doubt the lettuce crop is picked by US citizens, after all. Most of the agricultural labor in this country certainly isn’t “Made in the USA.”
I’ve seen a lot of “there goes” here.
Isn’t or wouldn’t it be possible for our own manufacturing to take over those empty holes that need filled? We certainly have enough potential workforce. It might be slow going at first but, if we stuck to it, like we did during WW2. Could it even be possible? Is it too late? Should we just concede to a one world mind frame?
If it truly is not possible in this time why not go to an unrestricted trade throughout the world?
To go even further why even have money?
I’m not a smart guy as you can see. I really wonder about this.
It is a nice thought, but it will not happen until overseas manufacturing costs rise to the point where they are competitive with North American costs. Price is the primary driver for consumers - it is the first thing people look at.
Also, keep in mind, we no longer possess the manufacturing capacity for such things as electronics and textiles any more. Re-aquiring that capability, and the skills needed, will take many years and not over night.
Not really, at least not for a long time. Only a handful of companies manufacture some critical parts of our economy like TV screens, hard drives, image sensors and most are overseas. By the time the US was able to ramp up to build them the state of the art would have moved on. We’d be be using old, behind the times technology for a while and have to do without for a long time.
Part of being an international economy is that anything you buy can’t be from one country anymore.
Example 1: American distributor, Chinese product
If you buy it in an American store, you’re putting money into American pockets.
Example 2: Chinese product, Chinese store, American location
The store, even if the parent company is in China, still pays rent, taxes, and employees in America.
Example 3: Chinese parts, American product and American parts, Chinese product
Example 4: American brand, Chinese manufacturer
Nike shoes? iPhones?
I don’t know if you can even buy a real American car anymore. Many are made in Canada, Mexico, Europe, Korea.
That Ford Transit van? Made in Turkey.
Chevy Camaro: built in Ontario, Canada
Dodge Dart: Fiat/ Alfa Romeo chassis, Italian designed and manufactured engine, Hyundai 6-speed automatic transmission, car is assembled in the USA
Dodge Charger and Challenger: Italian owned, made on Mercedes chassis parts, built in Ontario Canada.
Ford Fiesta: Spain, Mexico, Germany. Not the USA.
GMC Sierra truck: Mexico
Ford Edge: Canada
Ford Fusion: Mexico
Cadillac Escalade EXT: Mexico
Many of the cars that are actually built on US soil have engines (Ford EcoBoost for one) and transmissions that come from factories in other countries. It is basically impossible to by a true American car. Some “American” cars were actually designed by the company’s divisions in Europe or Asia. Chrysler’s 8-speed auto is a licensed ZF transmission (German company).
From what I know, around 70 pct of the economy is dependent on consumer spending and 70 pct of the work force is found in the service industry.
A focus on locally made and grown products will very likely require a return to farms and factories, lower income levels, the gradual weakening of the middle class, and the same for the military, infrastructure, and other sectors that are heavily dependent on the petro-dollar and cheap goods and services from abroad.
Do you want to pay a lot more for so many things you buy? Do you want to go without things that you can now afford? How do you think that would affect the economy?