"Stanley to Make More Craftsman Tools in U.S. Automated Texas factory to produce wrenches and sockets at costs similar to work now done in China": Stanley Black & Decker Inc. SWK -1.14% plans to move production of Craftsman wrenches from China back to the U.S., the latest manufacturer looking to use automation to increase domestic output as tariffs raise the cost of imports from overseas. Stanley is investing $90 million to open a plant in Fort Worth, Texas, by late next year that will employ about 500 people to make 10 million Craftsman wrenches and ratchets and 50 million sockets annually. Robots and fast-forging presses will help boost output about 25% above the older forging machinery now used to make Craftsman wrenches in China, helping keep production costs at the new plant in line with those in China, Stanley said. The company’s strategy mirrors moves by other manufacturers in recent years to bring some foreign production back to more automated factories in the U.S. Whirlpool Corp. WHR -0.36% is making some small KitchenAid appliances in the U.S. again after they were made by a contractor in China for years. Caterpillar Inc. has moved the assembly of excavators and small bulldozers from Japan to new plants in the U.S. to free up production capacity for the Asian market. . . . Mr. Loree said he wants 50% of Craftsman tools to be made in the U.S. a few years from now, up from 30% today. Stanley remains reliant on foreign-made components for some of those tools, such as motors for its power tools. After the Trump administration raised U.S. duties on components imported from China to 25% from 10% last week, Stanley said its tariff costs on components from China this year will increase more than 60% over 2018 to about $250 million. Mr. Loree said he is ready to shift to suppliers outside of China if the two countries don’t reach a trade deal. “If we knew that the tariffs were going to be permanent, we would make sweeping changes to the supply chain,” he said. https://www.wsj.com/articles/stanle...an-tools-in-u-s-11557919800?mod=hp_lista_pos4
Don't forget to add that China subsidizes most, if not all, of the manufacturers over there that export goods at cost to other countries. So in reality, this isn't really affecting them like most people would think. They will just keep printing more money.
OT, you need to think before u parrot this half-azzed spin by Stanley / WSJ lots of convenient self-serving claim, nary any details. "keep production in-line w those mfg in China" is but a sleight-of-hand by Stanley that suggests cost will still be higher. btw, you need a lot more than $90M CapEx to improve production efficiency by 25% as reference, consider Chabani's new yogurt production plant, which costs ~ $450M FoxConn was going to built a new facilitity in Wi for ~ $2 Billion
I do believe the majority of steel workers will vote for Trump in next election, which is what counts.
I don’t know if that will be the case or not, but if it is, they will be far outnumbered by angry farmers, angry large family run food production companies and their employees (aka, farms), and corporations in the food producing business who will be laying off angry workers if this mad tariff “war” continues, in my opinion. Add a very large number of women that are more aware of trump’s policies and his appointed judges as they impact women’s rights today than they were in 2016, and Mr. trump is in deep trouble. Again, in my opinion.
I have to disagree. That issue can be the tipping point for some women who are independents or Republicans, in my opinion. Here in Texas, I know some women, several being longtime friends of my significant other that she either worked with, who worked for state government entities of one kind or another, or lobbied for organizations of all kinds who dealt with the state. Many were Republicans who’s political leanings changed as the GOP became more and more conservative and/or evangelical over the years. A tipping point for some (and she knows a very large number of women due the the nature of her job, and still does after she retired) was exactly this issue. They might have been conservative when it came to many of the traditional GOP stances on issues, but were moderate on social issues. Some took women’ rights, including the right to control their own body, for granted and didn’t give it a whole lot of thought until those rights came under assault. That was what pushed them away from the GOP, caused them to start thinking about other related issues, and they became independents, most of them, or Democrats. Unrelated to who she knows from her many years with the state, I have good friends who happen to be female, some married to old friends of mine, that had little interest in politics, but took reproductive freedom for granted. They changed their outlook politically when women’s rights came under attack. Heck, my sister was a Republican for decades and walked away from the GOP over it’s increasingly radical view towards Roe v Wade. These are people I know, so some will say “that’s anecdotal,” but they are real people here in Texas impacted by the very issue you think “is overhyped outside of liberal states.”
Trump has issued an executive order declaring a national emergency and prohibiting U.S. companies from using telecom services that are solely owned, controlled, or directed by a foreign adversary, clearing the way for a ban on the Chinese-owned Huawei. the world biggest telecom equipment maker has been facing ~ a dozen criminal charges from the US including stealing trade secrets and violating sanction on Iran, etc https://www.axios.com/trump-huawei-ban-executive-order-eb86bc1f-8365-465d-92d8-b0dfc9ad8dc4.html
The ability to sell to working class people that free trade with developing nations was one of the great sleight of hands. Basically a few people lose their jobs for cheaper stuff, keep repeating that cycle until the few become many, and along every step, the net gain for that group is less than their loss and they end up as well, where they are right now, lol. Economics can't even show a kaldor-hicks improvement for this sort of trade, the working class have and will always be the losers of this transaction and compensating for what has been lost is a combination of political difficulty and socioeconomic losses (like the dignity of being able to support a family, breaking up families, increased drug usage and the costs those bare). The effective tax rates for them are in the negatives, the government has accumulated a "never will it be paid" debt (having half your work force, the work force is only half the population to begin with, paying no net tax leaves you with 1/4 of your population paying tax, who'd have thought that could never pay for itself....) in order to fund that, and they continue to decline on the back of this lie. This of course took a good 40 years to get to where we are, short of civil war, it's unsolvable in less than 15, the entire neo-liberal thing died in 08, but when we needed someone to stab it in its icy heart, instead we got the night king resurrecting an army of zombie corps, their humanity stripped, now existing for only one purpose; even the "robber barons" weren't like this.
Among the Beneficiaries of Trump’s Tariff Bailout for Farmers? A Gigantic Meat Company owned by 2 Brazilian criminals not allowed to leave Brazil. How a multinational corporation is cashing in on the Trade War. In January, the Greeley, Colorado Tribune reported that as part of the trade-bailout package, the USDA signed contracts to purchase $22.3 million of that pork from JBS USA, the American arm of JBS, a gigantic Brazil-based meat company that owns massive shares of the US beef, chicken, and pork markets. in Feb, the USDA signed 2 more contracts, totaling > $40M, to buy from JBS USA. the bailout was intended to help up US domestic farmers, but the USDA is also handing out cash to Brazalian-owned businesses operating in the US. btw, while China has stopped buying soybeans from US farmers, it has increased its soy bean orders from Brazil. in view of this, the USDA is effectively feeding the Brazilian hand that has been stabbing the US farmers in the back. https://www.axios.com/trump-huawei-ban-executive-order-eb86bc1f-8365-465d-92d8-b0dfc9ad8dc4.html
So the working class is entitled that they get to keep their same jobs? They are entitled and don’t have to adapt over 40 years? Have any of you protectionists ever considered that in order to compete with low labor costs/lax environmental regulations of a China, the US would also have to similar labor and environmental standards? Or are we going to have a command style economy like China in order to compete to keep from the race to the bottom?
Lifting US steel and aluminum tariffs on Mexico and Canada..... Pushing back auto tariffs 6 months on the E.U. and Japan.... It would seem the Trump admin underestimated taking on the entire globe. I was never a fan of that crap so I’m glad we are focusing on the real issue.
