Producing "most things" here would be extremely expensive. Look at the labels on what you buy. How much of it is made in China? Tons. Do people want to pay a third or half again as much for those products?
I doubt it. And that's the problem.
As far as pharmas are concerned, though, they're making a ton by price gouging here. They charge far less for the same products everywhere else. We get to pay more thanks to corporate greed so powerful even the Obama administration couldn't deal with it. And naturally Trumpty and his Republicans enthusiastically support it.
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