Post by Baxter- How will tariffs reduce inflation and prices?
LIKE THIS:
https://prosperousamerica.org/economic-view-tariff-jumping-investment-the-success-of-the-2018-washing-machine-tariffs/
It’s a similar story in Newberry, South Carolina, where Samsung built an
appliance facility in 2018. In 2017, recognizing that the Trump
administration was determined to clamp down on washer imports, Samsung
announced plans to invest $350 million to build a manufacturing facility
in Newberry, South Carolina with 1,000 employees. In 2020, Samsung
invested an additional $120 million to expand the facility, which now
employs 1,200.
Newberry is a smaller, more rural and agricultural area than
Clarksville. Located 40 miles northwest of Columbia, Newberry County’s
population is just 38,000. Samsung is one of only two manufacturers in
the county with more than 1,000 employees. The other is a food
processing company. As a relatively high-tech appliance manufacturer
that designs as well as manufactures products, Samsung has had a
significant impact on business, jobs, and prosperity in Newberry County.
According to a local news report last October, the “Samsung effect” in
Newberry has contributed to investment in new housing developments, new
restaurants and other new businesses in the area. The report quoted John
Worthington, Executive Chef at local restaurant Figaro the Dining Room,
who said: “with these bigger corporations like Samsung coming in,
they’re bringing in good-paying jobs which makes the economy and the
town better.” Figaro is currently advertising for employees.