Speaking to reporters before boarding Air Force One to New Jersey, US President Donald Trump said he agreed with US Treasury Secretary Scott Bessent's April 29 comment that the US does not necessarily need "a booming textile industry".

"We're not looking to make sneakers and T-shirts. We want to make military equipment, big things like AI and computers," Trump said.

The US president then explained that textile products like shirts and socks can be made very well elsewhere, while the US is aiming to "make chips and computers and things like tanks and ships."

On April 29, after explaining the president’s ambitions to boost domestic manufacturing, Bessent was criticized by the National Textile and Apparel Council for saying that Trump was interested in “the jobs of the future, not the jobs of the past.” The council said it supported the Trump administration on all trade policies, noting that the textile industry currently produces more than 8,000 products for the military and employs more than 470,000 workers last year. So they don’t want to be ignored like that.

Over the past few months, Mr. Trump has shaken the world with his unprecedented trade policies. In addition to raising revenue, the Trump administration has asserted that the new series of import tariffs can revive the American manufacturing industry, which has been in decline for decades.

So far, he has imposed a separate 25% tax on cars, aluminum, and steel imported into the US. Most countries pay a 10% tax when exporting products here, except China, which charges 30%. Last week, the US President threatened to raise tariffs on the European Union to 50%, while warning that iPhones sold in the US would be taxed 25% if they were made abroad.

Analysts remain skeptical that the president can revive domestic manufacturing. Bringing factories back to the US would face many obstacles, including labor costs, raw materials, facilities, and skills that may be outdated in modern manufacturing. For example, the price of an iPhone could triple to $3,500 a unit.

(Source: Vnexpress)

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