Latest news with #ReshoringInitiative
Yahoo
09-05-2025
- Business
- Yahoo
Manufacturers Say Trump Has Made Opening U.S. Factories Impossible
The Trump administration's tariff scheme appears less and less likely to bring manufacturing jobs back to U.S. shores. Businesses across the country are crunching the numbers and realizing that, despite Donald Trump's insistence, they can't balance out his tariff hikes across the supply chain. 'Some manufacturers who had plans to open factories in the country say the new duties are only adding to the significant obstacles they already faced,' Bloomberg reported Friday. That's because the supply chain to produce those goods in the United States simply isn't there, requiring companies to import raw materials and factory equipment—which Trump's tariffs have made unaffordable—from abroad. And Trump's unpredictable approach to announcing and enacting or even retracting his tariffs has added confusion and significant volatility to the market, making businesses less likely to invest in large, long-term projects such as factory development. Nora Orozco, the owner of footwear company Evolutions Brands, wants to open a Texas factory that would create 200 jobs. But the nitty-gritty of Trump's so-called 'manufacturing renaissance' just doesn't work, according to the small-business owner. 'I like the idea of onshoring, but this makes it impossible for us,' Orozco told Bloomberg. Reinvigorating American manufacturing has been a tall order for both political parties since the country offshored and automated the bulk of those jobs decades ago. But 2022 did see a spike in job announcements for reshored manufacturing gigs, according to the Reshoring Initiative, a U.S. manufacturing advocacy nonprofit. That was thanks to President Joe Biden's Inflation Reduction Act, which passed with zero Republican support at the time, and his CHIPS and Science Act. Biden's landmark legislative victory is currently on the chopping block as conservative lawmakers look to make room in the federal budget for an extension to Trump's tax plan. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
08-05-2025
- Business
- Yahoo
Opinion: Why I love tariffs — and why Utah should, too
Shipping containers are stacked at the Port of Los Angeles Wednesday, April 9, 2025, in Los Angeles. | Damian Dovarganes People are always surprised when I say it. 'Tariffs hurting your business?' they ask. Actually, I don't mind them at all. Here's why. Racing to the bottom isn't a business plan As CEO of Murphy Door, a custom door company based in Ogden, I've followed the national conversation on tariffs with growing frustration. What many see as a burden, I see as a lifeline — for companies like ours and for the future of American manufacturing. For years, we've competed against low-cost imports from countries like China, where labor is cheap not because of efficiency, but because of low wages and minimal benefits. In Utah, we do things differently. We invest in our people, offering good wages, full benefits and real opportunities for growth. That commitment builds stronger communities — but it comes at a cost and is hard to sustain when the market expects luxury craftsmanship at rock-bottom prices. When I founded my company in 2012, I chose to manufacture domestically. Controlling our supply chain saved us during the pandemic, when disruptions crippled companies reliant on imports. That firsthand experience taught me the value of resilience and control, especially when outside forces can shift markets overnight. Tariffs tip the scales toward fairness Tariffs help level the playing field by exposing the true cost of 'cheap' goods and rewarding companies that commit to quality and care. At Murphy Door, we've been ready. Our growth speaks for itself—growing from $30,000 in first-year sales to a nationwide manufacturer. We're expanding from Utah to automated facilities across the U.S., aiming for 20 sites within the next seven years, all within 300 miles of major customer bases to cut shipping costs. And we're not alone. More companies are reshoring production, and more customers are actively seeking U.S.-based manufacturers. Millennials and Gen Z are helping drive this demand, pushing for greater transparency and a renewed commitment to American-made goods. The momentum is real. The Reshoring Initiative reports that more than 350,000 U.S. jobs were reshored or created through foreign direct investment in 2023 — a record high. We're not just seeing this shift locally — the world is taking notice. Recently, the EU ambassador visited Utah as part of ongoing trade negotiations between President Trump and Europe. And it's no wonder Utah is drawing this international attention. Manufacturing employment here is growing faster than the national average. In January 2025, Utah's manufacturing sector employed 155,900 people. This is a recent increase of 3,500 jobs compared to February 2024. Utah leads the U.S. in manufacturing job growth, with a nearly 12% increase between 2019 and 2023, the largest jump in the nation.
