Luckey: Firms Exaggerate US Manufacturing Costs

Palmer Luckey says companies are exaggerating the cost of American manufacturing to justify staying in China: “They don’t want to admit that it is a choice.” 🇺🇸🇨🇳 “I don’t have a lot of sympathy for people who pretend that manufacturing in the U.S. is this impossible, order-of-magnitude problem. A lot of it is very self-serving. They want to justify why they’re in China. They want to justify why it’s OK for them to stay in China. They know that when sanctions hit as a result of a potential Taiwan conflict, they want to say, ‘Nobody could’ve predicted this, and I had no choice anyway.’ They don’t want to admit that it is a choice. If Chinese subsidized steel is a third of the price of American unsubsidized steel, a tariff isn’t going to work. But if the price difference really is 30%, then a tariff could bring the American steel industry back. It’s critically important to get this question right, and there aren’t enough people talking about it.”