U.S. manufacturing remains weak, and the high tariff policy has not achieved the expected results.

The latest data shows that the US manufacturing sector has not experienced a revival due to the high tariff policies of the Trump administration, but rather continues to weaken. Federal data indicates that since the launch of the "Liberation Day" tariffs by Trump, the US manufacturing sector has seen a net loss of jobs for eight consecutive months, with over 200,000 jobs lost since 2023, and the scale of manufacturing employment remains lower than any period after the pandemic. The Institute for Supply Management's factory activity index had been in contraction for 26 consecutive months, and although it showed a brief rebound in January this year, it is still at a low level. At the same time, data from the US Census Bureau shows that manufacturing construction investment, which had once surged due to chip and clean energy subsidies during the Biden era, has continued to decline for the first nine months of Trump's administration. Economists point out that this both continues the long-term structural trend of manufacturing offshoring and reflects the inhibitory effect of tariffs and policy uncertainty on corporate investment. Several corporate executives and analysts say that in the short term, tariffs have mainly increased the cost of raw materials and components, squeezing corporate profits and investment space, without significantly improving competitiveness. Tariff increases on steel and aluminum have forced some manufacturers to turn to tax-exempt imports, weakening the stability of the domestic supply chain. Meanwhile, countries such as China continue to maintain strong exports, further lowering global prices. The White House emphasizes a recovery in productivity and wage growth, but industry insiders generally believe that without more stable policy expectations, improved financing environments, and a recovery in demand, manufacturing employment will be difficult to rebound quickly. Even if the Trump administration promotes allies' investments and attracts large projects, analysts expect that new investments will more likely flow into automation and artificial intelligence-related areas, with limited impact on traditional manufacturing jobs.

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Original article: toutiao.com/article/1856176193866761/

Statement: This article represents the personal views of the author.