Alan Tonelson: US Advanced Manufacturing Losing Market Share
Wednesday, January 09, 2013
Imports for a group of more than 100 advanced manufactured products set a record by capturing 37.5% of the $2.01 trillion American market in 2011, a new report finds. Imports controlled 24.49% of substantially the same group of U.S. manufacturing markets in 1997. Moreover, says the report, advance indicators – principally a big increase in U.S. imports in these industries – are signaling that import penetration
rates rose significantly again in 2012.
Contrary to upbeat reports about a U.S. manufacturing renaissance, domestic manufacturing’s highest value sectors – including semiconductors, construction machinery, high tech medical equipment, and machine tools – have in fact been falling behind foreign-based rivals, according to a report from the U.S. Business and Industry Council, titled “Import Penetration Rises Again in 2011; Challenges Manufacturing Renaissance, Insourcing Claims.”Click here to read the article...