Read on Twitter
Remember back in January, when the Commerce secretary speculated that the coronavirus might bring jobs back to the United States? Well ... there's no sign it has. @AnaSwanson & I have the details today: https://www.nytimes.com/2020/07/22/business/economy/coronavirus-globalization-jobs-supply-chain-china.html?referringSource=articleShare
There's a pattern here (quick thread)... 1/
There's a pattern here (quick thread)... 1/
The Trump administration has repeatedly claimed that its policies are creating -- or will -- a wave of new "reshoring" of jobs. It's one of the central promises Trump made on the economy in 2016. He was going to bring jobs back. 2/
The pandemic has, thus far, not delivered on that promise.
The three years before it did not, either.
As I wrote in August '19: "statistics.. do not support Mr. Trump’s claim about his policies’ effectiveness in drawing investment and jobs from abroad." 3/
The three years before it did not, either.
As I wrote in August '19: "statistics.. do not support Mr. Trump’s claim about his policies’ effectiveness in drawing investment and jobs from abroad." 3/
Since then, we've only gotten more data. It's even worse for Trump's claims.
Thanks to the pandemic, America now has 300k fewer factory jobs than it did when he took office.
4/
Thanks to the pandemic, America now has 300k fewer factory jobs than it did when he took office.
4/
Trump has often bragged, like he did last year after meeting with the Japanese prime minister, about the amount of money that foreign companies are investing in the USA under his watch.
Last year, pre-pandemic, and amid Trump's trade war, foreign investment in the US plunged 5/
Last year, pre-pandemic, and amid Trump's trade war, foreign investment in the US plunged 5/
FDI in 2019 was its lowest recorded nominal amount* since 2006.
6/
*There was a data interruption as seen in this chart; it's clearly the lowest since 2014, when data resume
6/
*There was a data interruption as seen in this chart; it's clearly the lowest since 2014, when data resume
I have an entire chapter on Trump's reshoring promises, and how and why they've fallen short for the American middle class, in my book, which is out Aug. 11 and available for pre-order here: https://www.jimtankersley.com/ /fin
