Because production costs (especially labor cost) is lower in PRC.
The laissez faire policies favored the business and factory owners at the expense of workers.business owners
Usually politicians talking about "Buying American" or domestic producers who are not as efficient at producing their good as international companies favored high tariffs.
Alexander Hamilton
The Free Market
Solve the economic problem of overproduction
It favored keeping a monopoly on new technology
It favored manufacturing over commerce and agriculture.
It favored keeping a monopoly on new technology
The shutdown of manufacturing in the U.S. can be attributed to various factors, including the outsourcing of jobs to countries with lower labor costs, advancements in automation and technology, and economic policies that favored globalization. Major companies sought to reduce expenses by relocating production overseas, resulting in significant job losses in the manufacturing sector. Additionally, the impact of the COVID-19 pandemic in 2020 temporarily halted manufacturing operations across many industries, further exacerbating the decline.
It favored keeping a monopoly on new technology
It favored keeping a monopoly on new technology
It favored keeping a monopoly on new technology
It favored keeping a monopoly on new technology
It favored keeping a monopoly on new technology
It favored keeping a monopoly on new technology
It favored keeping a monopoly on new technology
It favored keeping a monopoly on new technology