[thu2111]

Tariffs. The US has already started!

[jpindar]

They've put tariffs on raw materials and sub-assemblies, which is making it less economical to manufacture things in the US.

[thu2111]

Interesting. I wonder what the logic is; usually tariffs are chosen based on trade volumes with the targeted country. Maybe there's a sense that mining or other raw materials businesses need more help than firms higher up the value chain.