At their post-Civil War apogee, 19th-century Republicans were the party of activist government, using protectionism to pick commercial winners and promising wondrous benefits from government's deft interventions in economic life. Today, a Republican administration promises that wisely wielded Washington power can rearrange commercial activities in ways superior to those produced by private-sector calculations in free market transactions.
According to the Financial Times, which interviewed him, Peter Navarro, head of the president's National Trade Council, says an administration priority is "unwinding and repatriating the international supply chains on which many U.S. multinational companies rely." This will make life interesting for, among many others, America's third and 24th largest corporations, Apple and Boeing.
The tiny print on the back of iPhones accurately says it is "assembled," not manufactured, in China. The American Enterprise Institute's James Pethokoukis notes that parts come from South Korea, Japan, Italy, Taiwan, Germany and the United States. Components of Boeing airliners' wings come from Japan, South Korea and Australia; horizontal stabilizers and center fuselages from Italy; cargo access doors from Sweden; passenger entry doors from France; landing gear doors from Canada; engines and landing gear from Britain.