""The United States imports a lot of electronics from Asia and that industry is getting nailed with very high tariffs. So the customers are going to start looking at U.S. made alternatives that don't have to pay the tariff," San Francisco's Chief Economist Ted Egan said, adding that California is well positioned to capitalize off this new demand because it has the largest electronics manufacturing capacity in the country."
"San Francisco's technology manufacturing sector currently has around 3,000 jobs, including companies that create electronic prototypes, satellites, and lidar products for self-driving cars. As a result, San Francisco and California's economies will fare better than the rest of the country on average, the report found. However, the city will lose more jobs than it gains, Egan said. According to the report, the tariffs will lead to over 17,000 fewer jobs - 1.6 percent - in the next 20 years."
"The report does assume that all of Trump's tariffs will remain in effect, though. A few weeks ago, a federal appeals court ruled that two of his tariffs - the "fentanyl tariffs" imposed on Canada, Mexico, and China for contributing to America's opioid crisis and the "reciprocal tariffs," imposed on the United States' trading partners - were an overreach of presidential power. Trump justified those tariffs by declaring national emergencies. The U.S. Supreme Court is set to hear the case in November."
President Trump's tariffs will boost demand for U.S.-made electronics and increase tech manufacturing jobs in San Francisco. California's large electronics manufacturing capacity positions the state to capture new demand. San Francisco's technology manufacturing sector currently employs about 3,000 workers in electronic prototypes, satellites, and lidar for self-driving cars. California and San Francisco economies are expected to perform better than the national average under the tariffs. The tariffs are projected to result in over 17,000 fewer jobs (a 1.6% decline) in San Francisco over the next 20 years. Two tariffs were ruled an overreach by a federal appeals court, and the U.S. Supreme Court will hear the case in November.
Read at Mission Local
Unable to calculate read time
Collection
[
|
...
]