On any conventional analysis where it is assumed that policy will be based on overall long term benefits, you would expect that there will be no rejuvenation of US manufacturing. They could never be competitive. So their own consumers end up paying more for goods and services. That is, they are all worse off.
However, I fear Trump will proceed anyway and attempt to rejuvenate US manufacturing with massive protection and subsidies - leading to global trade war and global recession. And the debt that Trump causes the US to take on will be so massive it will push up interest rates. Further contributing to contraction and recession.
Let's see if the Republicans can control this ugly can of worms they have in their hands.
