In a bid to revive domestic manufacturing and restore American jobs, Congressman Jared Golden is proposing a 10 percent universal import tariff. The move is aimed at addressing the decline of manufacturing jobs in Maine, where employment in manufacturing has dropped from over 40 percent to less than 10 percent. Golden argues that the current system of globalization and free trade has resulted in the loss of American industrial know-how, good jobs, and technological innovation in exchange for cheap foreign goods.
Despite some opposition, Golden believes that imposing a universal tariff will help reposition the U.S. in the world economy, boosting self-sufficiency and national security. He argues that tariffs can encourage domestic production and jobs, contrary to the belief that they may increase prices. Golden advocates for reshaping economic policy to prioritize American industry and exports, highlighting the potential to use revenues raised from tariffs to subsidize domestic production or reduce the deficit.
Golden acknowledges that reversing the effects of globalization will take time and effort, but he remains confident that a focus on domestic production and innovation can lead to a resurgence of American economic strength. By proposing a universal import tariff, Golden aims to steer the U.S. away from its dependency on foreign competitors and towards a future where American manufacturing and jobs are at the forefront of the economy.
Source
Photo credit www.bangordailynews.com