News editor Shane McGinley says reshoring US manufacturing is difficult and would likely lead to higher consumer prices.
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00:00He wants to bring manufacturing back to the U.S., but is that realistic?
00:03Because the reason that there's so much...
00:05I'm not an economist.
00:06No, no, I know.
00:07But I think that's the sort of ultimate goal.
00:10But if you bring all the manufacturing back to the U.S.,
00:12where are the low-cost workers that are going to do all of these manual jobs?
00:17You would have said it's immigrants, but that's completely another debate.
00:21So I'm not really sure that's going to be realistic,
00:24and I'm not sure that's going to be achieved within four years,
00:27the way manufacturing timelines are.
00:31And even one of my reporters was looking at a story in relation to cars.
00:35If you want to do more sort of car manufacturing,
00:37a lot of the car parts are built in other parts of the world.
00:41So that means American cars are going to get more expensive immediately in the short term,
00:46which our American consumer is going to be happy with more expensive cars.
00:52But on the flip side, I just saw as well that BMW has said that it's going to boost its production in the U.S.
00:57to appease Trump.
00:59So that will be interesting if all of these international players
01:03do actually kind of look at increasing their manufacturing capacity if they can.
01:08So it's a bit of sort of give and take on both sides.
01:12So, yeah, it'll be interesting to see how that all plays out.