Ruhle on Bringing Manufacturing Back: ‘It’s One of the Reasons We Have Such a Need for Immigrants’

RUSH TRANSCRIPT Well if ░░░░░░░░ would have led with ░░░░░░░░ cuts and deregulation ahead ░░░░░░░░ this may have given ░░░░░░░░ a bit more runway ░░░░░░░░ s go back to ░░░░░░░░ though As you just ░░░░░░░░ we are now at ░░░░░░░░ full blown standoff And ░░░░░░░░ folks out there who ░░░░░░░░ I m not invested ░░░░░░░░ the markets what do ░░░░░░░░ care Help us understand ░░░░░░░░ they go to buy ░░░░░░░░ computer when they go ░░░░░░░░ buy sneakers what it ░░░░░░░░ look like Well just ░░░░░░░░ about sneakers for example ░░░░░░░░ mean a very very ░░░░░░░░ part The dominant part ░░░░░░░░ say what Nike makes ░░░░░░░░ most of the other ░░░░░░░░ companies are made in ░░░░░░░░ or China and in ░░░░░░░░ and dozens of different ░░░░░░░░ You can t just ░░░░░░░░ pick that all up ░░░░░░░░ take it to America ░░░░░░░░ start manufacturing that here ░░░░░░░░ America whatever the commerce ░░░░░░░░ says And if you ░░░░░░░░ impose tariffs at this ░░░░░░░░ what that means is ░░░░░░░░ you re going to ░░░░░░░░ the kind of shocks ░░░░░░░░ the supply that we ░░░░░░░░ during Covid and the ░░░░░░░░ chains will simply break ░░░░░░░░ or prices will go ░░░░░░░░ through the roof and ░░░░░░░░ s either paid by ░░░░░░░░ end consumer or it ░░░░░░░░ paid by the American ░░░░░░░░ who are trying to ░░░░░░░░ sneakers to the ordinary ░░░░░░░░ person Okay then let ░░░░░░░░ ask something really basic ░░░░░░░░ s pretend for a ░░░░░░░░ that sneakers are going ░░░░░░░░ get made here in ░░░░░░░░ United States Who s ░░░░░░░░ to work in those ░░░░░░░░ It s not like ░░░░░░░░ don t have enough ░░░░░░░░ in this country We ░░░░░░░░ But what we have ░░░░░░░░ a lot of Americans ░░░░░░░░ to take some of ░░░░░░░░ lower skilled jobs Right ░░░░░░░░ about who delivers food ░░░░░░░░ about who works as ░░░░░░░░ health care workers It ░░░░░░░░ one of the reasons ░░░░░░░░ have such a need ░░░░░░░░ immigrants in this country ░░░░░░░░ Americans aren t willing ░░░░░░░░ take the lowest skilled ░░░░░░░░ And if you re ░░░░░░░░ about working in a ░░░░░░░░ shirt factory sewing t ░░░░░░░░ for 12 hours a ░░░░░░░░ or 14 hours a ░░░░░░░░ because we re going ░░░░░░░░ deregulate we don t ░░░░░░░░ the labor force to ░░░░░░░░ those jobs in the ░░░░░░░░ States This is just ░░░░░░░░ element of confusion and ░░░░░░░░ don t have any ░░░░░░░░ from the administration about ░░░░░░░░ happens once these tariffs ░░░░░░░░ into into place And ░░░░░░░░ you re right We ░░░░░░░░ t talked a ton ░░░░░░░░ immigration in recent days ░░░░░░░░ because the focus has ░░░░░░░░ so much on these ░░░░░░░░ But that of course ░░░░░░░░ central to the president ░░░░░░░░ economic agenda to dispatch ░░░░░░░░ so many millions of ░░░░░░░░ who are in this ░░░░░░░░ who do this kind ░░░░░░░░ work Look there is ░░░░░░░░ much confusion in the ░░░░░░░░ on many levels but ░░░░░░░░ s also disagreement on ░░░░░░░░ as well And you ░░░░░░░░ to howard lutnick talk ░░░░░░░░ the kind of factories ░░░░░░░░ he imagines in this ░░░░░░░░ He often talks about ░░░░░░░░ coming and putting robotic ░░░░░░░░ Robotic factories are not ░░░░░░░░ to involve a lot ░░░░░░░░ workers and b unskilled ░░░░░░░░ I mean I think ░░░░░░░░ there was another reference ░░░░░░░░ one of these guys ░░░░░░░░ today about to be ░░░░░░░░ to service these machines ░░░░░░░░ sure that they re ░░░░░░░░ etc But fundamentally that ░░░░░░░░ of high end manufacturing ░░░░░░░░ t one that requires ░░░░░░░░ lot of manual labor ░░░░░░░░ that s just another ░░░░░░░░ of open question about ░░░░░░░░ they see all of ░░░░░░░░ playing out and what ░░░░░░░░ offshoring renaissance as they ░░░░░░░░ would look like I ░░░░░░░░ to play a little ░░░░░░░░ of what John Bolton ░░░░░░░░ earlier tonight about tariffs ░░░░░░░░ China Instead of taking ░░░░░░░░ the country that s ░░░░░░░░ Our intellectual Property for ░░░░░░░░ among Other things by ░░░░░░░░ our allies together all ░░░░░░░░ whom also suffer from ░░░░░░░░ s intellectual Property theft ░░░░░░░░ Engaging in Concerted action ░░░░░░░░ at war with our ░░░░░░░░ trading Partners while we ░░░░░░░░ about to go To ░░░░░░░░ with China As well ░░░░░░░░ simply makes no sense ░░░░░░░░ it s just sad ░░░░░░░░ depressing that More Republicans ░░░░░░░░ t stood up And ░░░░░░░░ that This is illiteracy ░░░░░░░░ That s the thing ░░░░░░░░ is illiteracy Just like ░░░░░░░░ in the White House ░░░░░░░░ Netanyahu said we re ░░░░░░░░ to get rid of ░░░░░░░░ trade deficits bad trade ░░░░░░░░ he knows trade deficits ░░░░░░░░ t the problem We ░░░░░░░░ had them for 50 ░░░░░░░░ while our economy has ░░░░░░░░ 250 but it s ░░░░░░░░ people around the president ░░░░░░░░ consciously choosing financial illiteracy ░░░░░░░░ serve his whims Also ░░░░░░░░ t it.