different. i think as we start seeing industrial policy arise all over the world, we ll start seeing that in many of these nations led by some of these leaders. you know, that said, this is a region that generally has remained open to trade or have been open to ties to the united states. latin america basically lost out in the globalization of the last 30 years. it did not hook into global supply chains, at least not in the value-added part. they sold raw materials and finished goods but didn t get in the manufacturing so many asian economies or eastern european economies got into. for better or worse, as the united states doubles down on supply chain resilience and reshoring and near shoring, this is an opening for latin america. always good to talk to you. thank you. my pleasure. next on gps, david gergen has worked for four different presidents. how does he grade this one? i ask him when we come back.
vietnam. we hold a tremendous amount of economic leverage over china, they make all our stuff. if we were to say to china we are going to make our stuff somewhere else, bring it back home even, that s a tremendous amount of leverage. we do have economic leverage and time to do the reshoring back to the partners, canada and mexico, and alternate sources of supply. the tariffs are meant to protect and rebuild u.s. manufacturing. number one priority. john: rebecca grant, great to get your perspective on things. sandra: you saw it, president biden on late night. panel will debate. john: cops may not be able to come to your beck and call because of how much gasoline it takes to get there. yes, it s actually happening. r -
On top of the obvious but potentially short-term stagflationary forces in play are far more structural, long-term issues that amplify the danger of protracted inflation and sharply reduced economic growth.
The United States announced $3.1 billion plan encouraging domestic battery manufacture. Battery demand is up. The U.S. continues trying to reshore microchip manufacturing. This suggests the U.S. might win reshoring battle to bring as much manufacturing back home as possible.