What would happened if we stopped importing textiles into the US?
What do you think?
Answer:
I think it would raise the price of garments in the US of about 500%, harming all consumers but especially the poorest, slashing domestic consumption and thus harming US and foreign companies.
And this is only if there's no tariff retaliation from commercial partners, because that's what usually happens and it makes things even worse.
Protecting dynamic economic sectors might be useful, but protecting a sector that uses mostly capital and low-skilled labour won't do any good.
Workers of the textile industry should be helped in their reconversion, local initiatives should be supported for dynamic industries, or things like food where quality is crucial for the overall well-being, but relocating textile factories in the US doesn't really make any sense.
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