The Secret to Reindustrializing America Is Not Tax Cuts and Tariffs. It’s Regulated Competition.

The Secret to Reindustrializing America Is Not Tax Cuts and Tariffs. It’s Regulated Competition.

Republicans and Democrats now generally agree that we must make more stuff in America but no consensus exists about how to do that. Under President Joe Biden, the strategy was to offer subsidies to key industries, like microchip manufacturers, and then use targeted tariffs to protect those efforts. Under President Donald Trump, the plan apparently is to impose, or threaten to impose, high tariffs on a shifting set of nations and products while t…