Part 2/8:
A significant portion of the products manufactured in the U.S. were once sourced from abroad, namely China, Mexico, Japan, and Eastern Europe. The discussion surrounding tariffs is often misdirected, focusing solely on imposing taxes on goods imported from abroad. However, competing effectively against nations with lower wage costs requires deeper systemic changes within companies.
While tariffs are designed to protect local industries, their effectiveness can be enhanced or diminished by how businesses manage their operations and workforce.