U.S. Vice President J.D. Vance argues that importing cheap foreign labor through mass immigration has led to declining productivity and economic stagnation in the West. Speaking at a summit of venture capitalists hosted by Andreesen Horowitz on Tuesday, the Vice President stated the United States, Canada, and the United Kingdom are “addicted to cheap labor,” which has fueled over 40 years of economic policy failures.
“I’d say that if you look in nearly every country, from Canada to the UK, that imported large amounts of cheap labor, you’ve seen productivity stagnate,” Vance told technology industry investors attending the summit. He continued: “That’s not a total happenstance. I think that the connection is very direct.”
Vance contends that high levels of immigration in Britain and the United States have caused both countries’ workforces and innovators to become lazy, leading to plummeting productivity.
Is British productivity low? Yes. Output per hour is lower than comparable countries & it’s practically flatlined since the financial crisis. pic.twitter.com/1uR40tnWKN
— Sarah O’Connor (@sarahoconnor_) September 20, 2022
TARIFFS.
The Vice President also defended President Donald J. Trump’s tariff policies, stating that the trade measures are a “necessary tool to protect our jobs and our industries from other countries.”
“When you erect a tariff wall around a critical industry like auto manufacturing and you combine that with advanced robotics and lower energy costs and other tools that increase the productivity of U.S. labor, you give American workers a multiplying effect,” Vance said. “Now that, in turn, allows firms to make things here at a price-competitive basis.”
Starting April 2, the United States will impose reciprocal tariffs on nations that have placed high trade barriers on American goods.
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