Tag: peak jobs

Trump’s Trade Policies Will Accelerate Job Losses

President Elect Trump ran on anti-tech platform designed to get US jobs back that have been sent overseas. Although our tax and trade policies have hurt developed country workers, especially in the US, the vast majority of job losses are because of technology, not outsourcing.

Trump’s talked about putting tarrifs and fining companies that outsource. He’s “succeeded” in getting a few companies to stay. But these companies are staying grudgingly, and demanding massive tax breaks to do so. Trump is using the power of the presidency to influence markets and potentially pick winners and losers. He’s sending the message that you have to play ball, or risk losing government contracts or being made uncompetitive.

Trump’s policies are going to make US companies think twice about outsourcing and moving factories. But they won’t go back to hiring US workers like they did in the 70s and 80s. An example in the West Virginia coal industry: (more…)