At IMTS the Reshoring Initiative will deliver a press briefing on the subject of achieving a 40% increase in U.S. manufacturing without tariffs:
Who: Harry Moser, Founder and President
What: The record rate of 170,000 reshoring and FDI jobs announced in 2017 will not be sustainable unless national and corporate policies are changed to make U.S. manufacturing more competitive. The Reshoring Initiative’s Competitiveness Toolkit was launched June 8, 2018, at the U.S. House of Representatives Manufacturing Caucus Briefing at the DC Congressional Visitors’ Center to overcome this problem.
Included:
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- The Toolkit provides and quantifies the best tools to eliminate the trade deficit and increase U.S. manufacturing 40% without tariffs.
- Results of our joint survey with Plante Moran quantifying reasons for offshoring, price gaps and policy changes needed.
- Refutation of myths such as:
a. Manufacturing employment will inevitably continue to decline like agriculture.
b. The robots are taking all of our jobs and should be taxed.
c. Almost all manufacturing job losses have been due to productivity, not offshoring.
d. The trade deficit is not important and cannot be fixed anyway. - Details on the 2017 and 2018 reshoring trend
When: Monday | September 10, 2018 | 2:30 to 3:00pm
Where: Media Briefing Room, Room N426
Why: The country now recognizes that manufacturing growth and smaller trade deficits are essential. Aggressive use of tariffs to achieve these ends has negatively impacted major industry sectors and drawn foreign retaliation.
The actual return of jobs makes credible that millions more can return with the correct policies. Balancing the trade deficit will cause annual purchases of machine tools and other manufacturing technology to increase by about 25% for 20 years, overcoming the current productivity lag and motivating skilled workforce recruitment.
Reshoring and FDI have added about 500,000 U.S. manufacturing jobs since 2009, 40% of the total manufacturing employment increase. Adding another million requires smarter corporate sourcing decisions and skilled workforce training. A further three million requires major national action to level the trade playing field.
Additionally, Harry will speak on the Main Stage between the North and South Halls at 9:30am on Friday, September 14.
Tools for better decisions
The Reshoring Initiative offers many tools and resources to help companies make supply chain sourcing decisions and sell against imports. The Reshoring Initiative’s Total Cost of Ownership Estimator® is the best-known publically available tool for this purpose. It uses advanced metrics that allow users to easily determine the total cost of offshoring by accounting for and understanding the relevant offshoring costs, which include inventory carrying costs, shipping expenses, intellectual property risks and more.
About the Reshoring Initiative
A 50-year manufacturing industry veteran and retired President of GF Machining Solutions, Harry Moser founded the Reshoring Initiative to move lost jobs back to the U.S. For his efforts with the Reshoring Initiative, he was named to Industry Week magazine’s Manufacturing Hall of Fame in 2010.
For more information, visit www.reshorenow.org.
The Initiative’s many sponsoring associations and companies are also acknowledged on the site.
