Overall, these tariffs help stimulate the economy. If the foreign competition has more barriers of entry, it lends itself nicely to increase domestic manufacturing which in turn creates more jobs and reduces our trade deficit. New Balance, a company that prides itself on manufacturing in the U.S., completed a $65 million expansion to its Skowhegan factory in central Maine last year.

According to New Balance, “New Balance’s $65 million investment will add 200 new jobs and double the factory’s production capabilities through a 120,000-square-foot single-story addition that will be completed by the end of 2024.”

I would like to think that President Trump’s reciprocal tariffs on countries like China and Vietnam, two major shoe manufactures, can help New Balance grow even further. This is just one example, but you can apply this idea to other products too.

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