News@lemmy.worldEnglish · 21 hours ago

Donald Trump is going to destroy American manufacturing

prospect.org

cross-posted to:
politics@lemmy.world

308

Donald Trump is going to destroy American manufacturing

prospect.org

MicroWave@lemmy.world to

News@lemmy.worldEnglish · 21 hours ago

cross-posted to:
politics@lemmy.world

Donald Trump Is Going to Destroy American Manufacturing

prospect.org

Bidenomics created a manufacturing boom. Trump is tearing that up by the roots.

Summary

Trump’s erratic tariff policies threaten American manufacturing’s recent renaissance.

Under Biden, manufacturing investment increased 220% from 2021-2024 through programs like the Inflation Reduction Act and CHIPS Act, creating 750,000 manufacturing jobs.

Trump has illegally frozen IRA spending despite court orders and called the CHIPS Act “horrible,” advocating for its repeal.

Princeton professor Jesse Jenkins estimates Trump’s actions could lead to massive cancellations in EV and battery production.

Unlike Biden’s targeted tariffs paired with domestic investments, Trump imposes duties randomly without clear goals, creating economic uncertainty that discourages investment while risking recession.

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21 hours ago
No shit.

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