Donald Trump’s promised “golden age” of American manufacturing is collapsing under the weight of its own numbers as factory spending sinks and jobs disappear, according to humiliating new official government data.
The president swept back into the White House in January 2025 vowing to “supercharge our domestic industrial base,” leaning on aggressive tariffs and arm-twisting to drag companies into building plants on U.S. soil. Eighty-four firms duly pledged more than $900 billion to expand American manufacturing.
But almost none of it is being built, according to numbers reported by the Financial Times.
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