Rhiannon Bury — Ford cancels plans for Mexican plant as Trump blasts General Motors

Global car giant Ford has cancelled plans to build a new $1.6bn plant in Mexico and will instead invest $700m in a Michigan manufacturing base, just hours after president elect Donald Trump blasted rival General Motors for building some of its cars south of the border.

Mr Trump had used Ford as a whipping boy during his presidential campaign, suggesting that it was moving manufacturing jobs to Mexico which should have been for US workers and vowed to slap a 35pc tariff on Ford vehicles made in Mexico but sold in the US....

The Telegraph
Ford cancels plans for Mexican plant as Trump blasts General Motors

Rhiannon Bury

Getting the Chinese to raise their currency and bash ours down does not create manufacturing jobs

Illustrated very clearly in the chart below. The Chinese yuan appreciated 30% against the dollar since 2004 (when the Bush Administration started this China bashing policy). Since then, manufacturing jobs have fallen by 300,000.

Not only does this not work, it acts as a tax on the middle class and poor, who have to pay more for Chinese goods, when they were once a lot more affordable.

It's a really, really, stupid policy.

Breaking: U.S. tells China their currency is not rising fast enough

Jack Lew at Treasury has apparently been given orders from the White House to do something to create "manufacturing jobs," so now he's telling China that their currency is not rising fast enough.

This policy is not only incredibly ignorant, as it reduces America's real terms of trade, but it is spiteful, vindictive and shows the Obama Administration's utter contempt for working class and poor Americans.

The reason being, it is functionally a tax that hits middle and low income people the worst as it makes the cost of Chinese made goods--which were once highly affordable--more expensive.

And the cruel lie behind this policy is that it will not create any jobs.

Obama Administration = DUMB!!!