The tariffs that President Donald Trump has slapped on Chinese imports haven’t sparked the widespread return of manufacturers to the U.S. that Trump envisioned.
About 41% of American companies are considering moving factories from China because of the trade war, or have already done so, but fewer than 6% are heading to the U.S., the American Chamber of Commerce in China said in a recent survey.
Companies are largely eyeing Southeast Asia and Mexico.
Steve Madden, the footwear and handbag maker, shifted its production to Cambodia. GoPro, the mobile camera maker, has its sights on Mexico. Gap, the clothing and accessories retailer, has started up new factories in Indonesia, Vietnam and Bangladesh. Brooks Running, a running shoes and clothes maker, said they’ll move 8,000 jobs from China to Vietnam by the end of the year.
The White House was not immediately available for comment.
Trump tweeted Friday morning “Companies will relocate to U.S.” and “If the Tariffs went on at the higher level, they would all come back, and fast.”
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Manufacturing added 28,000 jobs the first half of the year, the fewest during that period since Trump took office promising a manufacturing renaissance.
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