No. of Recommendations: 20
Regarding tariffs and intended results, I think the horse is already out of the barn and out in the far pasture. When we were buying rotational and injection molding tools in 2000 they were made by American tool & die makers. In 2015 we were buying our custom tools through the same American companies who were having the tools made outside the USA across the Pacific pond. Here in 2024 we have more tools being made and we are dealing with those offshore tool making companies as they now have developed their sales forces to work directly with USA customers like our company.
In the meantime we have lost a generation of tool and die makers here in the USA. It’s not all dire news. What is coming fast are computer controlled tool and die making machines. They have been around for a while and are getting better fast. The offshore companies are also buying these tool making systems and are using them to make our new tools. Additionally, rapid prototyping is similarly coming along rapidly with ability to make large pieces economically and in materials that can handle all sorts of field conditions.
Rather than imposing tariffs, it would be better to subsidize American companies making capital investments in advanced manufacturing systems. This can possibly be done with rapid depreciation, targeted tax credits and other measures to encourage companies to put monetary skin in the game. Yes, this will enrich lots of small, medium and large business owners. It is also likely to create better jobs, more long term economic stability and a brighter future for those of us in between the two big ponds. Hey, you would think it would also be a good prescription to implement for companies/countries/peoples on the east side of the Atlantic pond, too.
Uwharrie
