www.bloomberg.com
Donald Trump’s promised industrial renaissance in the US has largely failed to materialize. While manufacturing employment saw some gains, these were modest and pre-dated the COVID-19 pandemic. A key aspect of Trump’s trade policy, however, has had a more tangible effect: reducing US reliance on China as a source of imports. Through tariffs and trade disputes, Trump successfully diversified import origins, shifting some supply chains away from China and towards other countries. While this hasn’t created a manufacturing boom in the US, it has demonstrably altered global trade flows.
