1417 ET - Labor could pose a challenge for companies considering moving manufacturing into the U.S., Ernst & Young's Andrew Phillips says. The U.S. doesn't have enough manufacturing workers right now to fuel reshoring, as the unemployment rate in that industry at 2.9%, Phillips says. While reshoring could add jobs, prior tariffs in the steel industry in 2018 actually resulted in overall job losses because companies were trying to cut labor costs, Phillips says. Wages in the U.S. are also about five times higher than in China and Mexico, he says, presenting companies with the challenging question of spending more on labor to reshore or just paying the tariffs. (katherine.hamilton@wsj.com)
(END) Dow Jones Newswires
April 03, 2025 14:17 ET (18:17 GMT)
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