Corporate profit margins in the U.S. have never been higher. More than 1std deviation from the historic mean. That has a lot to do with the increasingly tech-driven, service-oriented nature of the economy.
Forcing manufacturing to come back to the U.S. will likely result in this chart going back to the average range. There's no way America can produce Chinese-made goods anywhere near the same margins without causing inflation to spike. That can't be good for the stock market.
$SPDR S&P 500 ETF Trust(SPY)$ $NASDAQ 100(NDX)$ $KraneShares Bosera MSCI China A 50 Connect Index ETF(KBA)$
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