Cranking up the global manufacturing machine is not just about China.
Dependence on global supply chains can be useful in a crisis only if countries don't set up export barriers like some are now with medical supplies.
The Trump administration has threatened to levy a 5% tax on Mexican imports next month, which could go as high as 25%.
When it comes to tariffs, consider today T minus five. In five days, more than 5,000 types of goods from China will be added to a list of tariffs imposed by the United States. That likely means higher prices for…