Stories

2/3 of new manufacturing jobs are thanks to foreigners

A significant majority of the 656,000 new manufacturing jobs created between 2010 and 2014 can be attributed to investment from countries like Japan, the U.K., and Germany, according to a Reuters analysis.

Why it matters: President Trump and some of his advisers are "hell-bent on imposing tariffs — potentially in the 20% range — on steel, and likely other imports," Axios reported Friday morning, though the majority of his cabinet opposes the plan. Trump's complaints about unfair trade practices are not unfounded, but there's a reason why trade arrangements are hard to reform: Attempts to gain advantage at the expense of trade partners risks upsetting cross-border supply chains that support millions of jobs. And it's states in Trump's southeast stronghold, like South Carolina, that have the most to lose economically from disrupted global supply networks.

Data: Bureau of Economic Analysis; Chart: Andrew Witherspoon / Axios
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