Reshoring Resulted in 145,000 Jobs During 2018
Reshoring and foreign direct investment in the U.S. increased 38% during 2018, the highest level in history according to the Reshoring Initiative, the agency formed to advance the effects of "reshoring." The term describes the phenomenon of manufacturers relocating manufacturing activity and services, or sourcing, to the U.S. from overseas. For 2018, the combination of reshoring and FDI represented 145,000 jobs, the second highest annual rate of job increases on record. The total job increases credited to reshoring, including upward revisions of 36,000 jobs in prior years, is over 757,000 since the 2010 low-point for domestic manufacturing employment.
Trump Lifts Tariffs on Mexico, Canada
Bogged down in a sprawling trade dispute with U.S. rival China, President Donald Trump took steps Friday to ease tensions with America's allies — lifting import taxes on Canadian and Mexican steel and aluminum and delaying auto tariffs that would have hurt Japan and Europe. By removing the metals tariffs on Canada and Mexico, Trump cleared a key roadblock to a North American trade pact his team negotiated last year. As part of Friday's arrangement, the Canadians and Mexicans agreed to scrap retaliatory tariffs they had imposed on U.S. goods.