I want to be clear: I do not support tariffs, unlike my three opponents. Tariffs result in an increased price for the consumer and disrupt the global market. Disruptions to global markets impact job stability and retirement funds. It is unconstitutional for the President to have sole power on tariff decisions. This decision constitutionally speaking must be made by Congress.
We need to prioritize production domestically and diversify our foreign allies to not become reliant on one country. A great example would be Taiwan producing 90% of the world's advanced superconductors. Critical products like these, need to be produced domestically due to national security risk.
December 1993 - President Clinton signed the North American Free Trade Agreement (NAFTA) into law. The goal was to increase, and simplify, trade between Canada, Mexico, and the United States. What it did was cause the loss of 682,900 manufacturing jobs as production moved South to Mexico. The ability to easily move production South of the border impacted the number of jobs and altered employees’ leverage with salary negotiations. Executives could challenge workers with the possibility of their jobs moving South if they join a union. I was happy to see President Trump’s revision of NAFTA with USMCA. It addressed the need to move production domestically by requiring 75% of automobile components be made in North America for vehicles to qualify for duty-free treatment. There are still enforcement shortfalls environmentally and labor-speaking.
The easiest improvements we can make to manufacturing are through our Small Business Administration, which is a board Hillary Scholten sits on. In 1953, we passed the Small Business Act that required 23% of federal spending to go toward small businesses which are companies with less than 500 employees. Once enacted, we saw the greatest periods for our middle class until the late 70s. This was the post-war era when families could live, eat, send multiple kids to college, etc. all on one income. The reason is that small businesses are the greatest job creators. I support increasing this standard from 23% to 51%. This would ensure that production happens domestically as larger corporations are the ones who move productions overseas to maximize profits.
In summary, I would support:
Increase in federal spending percentage for small businesses from 23% to 51%
Prioritize critical production domestically
Support rehabilitation programs for individuals who have a criminal record
Support diverse trade allies to avoid relying on one country