Today, a little over 12.7 million Americans work in manufacturing. But in the 1970s, that number was nearly 20 million. Over the years, globalization and lowered trade barriers have resulted in cheaper labor abroad and closed factories in America. But as President Trump pushes to revitalize manufacturing through tariff policy, economists and trade experts are divided on whether a manufacturing renaissance makes sense for the U.S., which has evolved to a service-based economy. Others say the benefits of onshoring go beyond price: shorter shipping times, better quality control, and supply chain agility, among other advantages. To better understand the challenges and possibilities of bringing manufacturing back to the U.S., CNBC visited a Midwestern bike maker shifting its supply chain from China to the U.S.
Chapters:
0:00 – Introduction
1:53 – Guardian Bikes
5:20 – U.S. manufacturing decline
10:37 –Finding workers
Producer: Merritt Enright
Editor: Andrea Miller
Camera: Lucas Mullikin
Animation: Emily Park
Senior Managing Producer: Shawn Baldwin
Senior Director of Video: Lindsey Jacobson, Jeniece Pettitt
Additional footage: Getty images
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Why Manufacturing Is So Hard In The U.S.
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