Introduction
The purpose of the memo is to explain how the philosophy of “Made in America” relates to the locally manufactured business such as that run by Leanne Marshall which uses fabric made in the country. Therefore, part of the aspects that the memo will discuss include the eligibility of the use of the tag “Made in America,” its relevance, and how it impacts the local business. Furthermore, the memo will also help the recipients understand how this movement seeks to affect the external business environment with regards to the regulatory, financial, and sociopolitical factors among others.
Elements to Address
For Nouveau Fashions to sell its products under the "Made in America" label, it must first meet certain criteria. According to the Federal Trade Commission (FTC), the product must be all or virtually all created in the United States. Therefore, "all or virtually all" of Nouveau Fashions products must have been made locally for it to use the tag. It, therefore, means that the product must not contain a product with a foreign origin. Therefore, at all times, the company must have reliable and competent evidence to prove that the product in question is "all or virtually" all manufactured locally (Sawyer, 2012).
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Selling products with the “Made in America” label could increase the customer base of Nouveau Fashions because some customers would cherish the idea of purchasing locally made products. Rashid (2017) asserted that it could further create customer loyalty as some people have previously shown suspicion with the foreign-based products. Also, on the negative end, it might jeopardize quality as the company might create products or commodities that lack certain international standards due to the limitation that comes with “Made in America” regulations.
Manufacturing is essential to the US economy because it creates employment for the millions who are unemployed. It will further improve trade and commerce as the country will be producing its goods. Furthermore, the government will benefit from taxes, and more investors will invest their money in the country hence leading to economic prosperity.
Other countries are also likely to be impacted with the "Made in America" tag. It will reduce the overreliance of foreign products hence decreasing their income through export. As such, they could divert and look form partnership with other countries with mutual trade interests.
Memo
To: Leanne Marshall
From:
Date:
Subject: Made in America
The “Made in America” movement aims at rallying entrepreneurs to produce their goods locally in an effort to boost home-grown production rather than the reliance on other countries. Rashid (2017) noted that President Donald Trump vowed that he would take stringent legal and regulatory actions to protect manufacturers in the country from trade practices that only hurt the economy of the country. It is a good idea to produce locally branded commodities because it will ensure that people buy the American goods and thus boosting the economy. More jobs will be created for the people as there will be an increased demand for these goods. Unemployment rates will, therefore, lower hence making it much easier for people to survive.
One of the primary ways in which the US can revive its economy is through by reducing the country’s trade deficit. Simmermaker (2011) illustrated that the solution to this lies within America's backyard as people only need to buy American goods. As such, the trade deficit will diminish, and a higher tax base will follow hence improving the economy. It is in this regard that Nouveau Fashion must support the "Made in America" philosophy by ensuring that all its products are made in the country, in a bid to woe the local consumers which will, in turn, boost the country's overall economy.
References
Rashid B. (2017) Will Trump’s “Buy American” Executive Order Save American Jobs? https://www.forbes.com/sites/brianrashid/2017/04/29/will-trumps-buy-american-executive-order-save-american-jobs/#40961731424a
Sawyer D. (2012). Made in America Must See https://www.youtube.com/watch?v=7AlexLrZ14A
Simmermaker. R (2011). Why buying American can save the US economy https://www.nytimes.com/roomfordebate/2011/08/04/can-manufacturing-fuel-a-us-recovery/why-buying-american-can-save-the-us-economy.
