Toomey: Trump and Some of His Admin Speak as if the U.S. ‘Does Not Manufacture Anything Anymore’

RUSH EXCERPT:
TOOMEY: "With a lot of things wrong. To start with, he and some and his administration frequently speak as of the U.S. does not manufacture anything anymore. As you know we are very close to an all-time record high and manufacturing output number one. Number two are the second-biggest manufacturing economy and the entire world. It does raise the question what it is you’re trying to fix? But let’s put it this way. What if the president gets everything exactly as he hopes? He imposes high tariffs virtually across-the-board it makes imports prohibitively expensive and there is an investment domestically creating new manufacturing. Number one, 40% of all imports are inputs for American manufacturers for those higher prices mean those manufacturers are not competitive in the global market we can expect layoffs in the manufacturing sector. And among those companies in this scenario the president is calling for that emerge, they emerge in a much higher price point the reason we are not buying these products from American manufacturers now is because they are not competitive. So, by raising the cost of imports to a much higher levels of the American manufacturers can be competitive at meets higher prices for American consumers for there’s no reason to think there’s a commensurate increase in wages. American consumers face higher prices there will be fewer jobs because of American manufacturing will be less competitive will have a lower standard of living across the board he might be successful in reducing the deficit eventually it will be at the price of probably a severe recession and certainly lower standard of living."