The ‘Made in USA’ tag was once a powerful tool but got sold out to foreign nationals for cheap labor for the cost of their profits. The USD hit a 3-year low on Friday amid tariff fears as the DXY index fell to the 98.4 level. It is now at its 2022 lows where the market had come out of the COVID-19-induced slumber. The greenback is at its weakest in five years while local currencies are gaining strength in the forex markets. Trump’s tariffs led to the US dollar dropping in value but his policy can bring manufacturing jobs back into America.
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In reality, a weaker dollar can help the manufacturing sector with new jobs as it becomes cheaper to manufacture in the US. Corporations moved their factories out of America during the 1980s and continue even now because foreign countries are more affordable. The labor is cheap and the work gets done at a faster pace with little to no union or strikes. However, there is no dearth of the labor class in America that is missing out on jobs being shipped abroad.
A Weaker US Dollar Can Help Lower Rung of Americans With Better Paying Manufacturing Jobs
If the US dollar gets weaker and falls below the 70-75 level, corporations can well start manufacturing in the US, making jobs available. It would provide the lower rung of Americans with a steady flow of income and bridge the gap between the middle and lower classes. The manufacturing sector has disappeared from the homeland and Trump’s policies can bring it back to life. Trump must take advantage of the falling US dollar and make corporations start manufacturing in the US.
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The move would also help in hiring and corporations will have it easier to not import their products. Providing manufacturing jobs to all sectors of the income strata in the US will boost the economy and the dollar. It is the Americans who bear the brunt of factories being closed down so corporations can make more money. This is the only viable chance to get manufacturing jobs back which was once stolen from Americans.
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