Reshoring News: November 2019
Program to provide $100 million to develop apprenticeship programs, legislation introduced to help close trade deficit, and Reshoring Initiative president has been appointed to the Department of Commerce Investment Advisory Council.
The Reshoring Initiative tracks news related to the return of manufacturing jobs to the United States. Here are recent news items the Reshoring Initiative has shared:
- The Department of Labor recently announced Apprenticeships: Closing the Skills Gaps – The program provides an additional $100 million to develop apprenticeship programs, including in advanced manufacturing.
- Senators Baldwin (D-WI) and Hawley (R-MO) have introduced the Competitive Dollar for Jobs and Prosperity Act – This bill would implement a market access charge (MAC) for foreign investors (companies, individuals and countries) in U.S. assets, primarily financial. Currently, by seeking financial security in the United States, these investments drive up the value of the dollar, preventing an adjustment that would eliminate the trade deficit. The purpose is to provide a mechanism to reduce the value of the U.S. dollar, making U.S. manufacturing more competitive. In 5 Smart Reasons to Tax Foreign Capital, Michael Pettis explains “Bringing the U.S. dollar into alignment could add nearly $1 trillion to America’s GDP, create more than 5 million new U.S. jobs and raise more than $2 trillion in tax revenue over six years.” Harry met with and has been advising Sen. Baldwin’s office.
Harry Mosier, president of the Reshoring Iniative, has been appointed to the US Department of Commerce – Investment Advisory Council.
This news originally appeared in the Reshoring Initiative’s e-newsletter, sent about six times per year. For more news like this, subscribe here.