It’s clichΓ©, yet true — the definition of insanity is repeating the same thing over and expecting a different result.
The trade policies of the past several decades have failed this nation, its workers, and our communities.
Twenty years ago, The New York Times Editorial Board responded to the January 2005 trade deficit of $58.3 billion by writing an editorial entitled “Dangerous deficits.” Deficits are certainly dangerous; former Federal Reserve Chairman Paul Volcker said trade deficits were to blame for the Great Recession.
The Times wrote in 2005: “At $58.3 billion, the U.S. trade deficit for January exceeded everyone's worst expectations… The trade deficit is the single most important factor in measuring the extent to which the United States lives beyond its means.”
Since then, our trade deficit has more than DOUBLED. The U.S. trade deficit in January totaled a whopping $131.4 billion.
The impact has been seen everywhere.
Since 1990, manufacturing employment has decreased by 59% in New York and decreased by 35% in Ohio.
The loss of these jobs killed innocent Americans and destroyed towns. Multiple studies show the loss of jobs due to bad trade deals led to an increase in drug overdoses.
However, liberal commentators have lost interest in fixing this problem. In fact, they are offended at the suggestion that industry should return to America.
Chris Matthews was inexplicably stunned on MSNBC and asked, “What are we going to do? Have more lumber made in the United States now!?” Yes, we are. President Donald J. Trump even signed an executive order to expand American timber production.
Likewise, Nia Malika-Henderson on CNN ridiculously asked, “Is it worth it to upend the global economy for HVAC jobs?” Apparently, Nia Malika-Henderson thinks preserving low-wage jobs in China is more important than creating high-wage jobs in America.
The loss of American industry means we struggle to build ships, medicine, and other essential goods. This is a national security emergency.
Fortunately, we are already seeing progress in reshoring American industry. President Trump remains undeterred in his mission to Make America Wealthy Again.
- Guardian Bikes announced it is launching the “first large-scale bicycle frame manufacturing operation in the United States.”
- Novartis announced “it plans to spend $23 billion to build and expand 10 facilities in the U.S.”
- Chocolate maker Barry Callebaut announced it is increasing its U.S.-based production.
- JSW Steel announced it will be adding jobs at its Ohio steel plant.
- BMW is considering adding shifts to boost production at its South Carolina plant.
- Apple announced a $500 billion investment in U.S. manufacturing and training.
- Nvidia announced it will invest hundreds of billions of dollars over the next four years in U.S.-based manufacturing.
- Taiwan Semiconductor Manufacturing Company (TSMC) announced a $100 billion investment in U.S.-based chips manufacturing.
- Eli Lilly and Company announced a $27 billion investment in domestic manufacturing.
- United Arab Emirates-based DAMAC Properties announced a $20 billion investment in new U.S.-based data centers.
- France-based CMA CGM, a global shipping giant, announced a $20 billion investment in U.S. shipping and logistics, creating 10,000 new jobs.
- United Arab Emirates-based ADQ and U.S.-based Energy Capital Partners announced a $25 billion investment in U.S. data centers and energy infrastructure.
- South Korean automaker Hyundai announced a $20 billion investment — including $5.8 billion for a new steel plant in Louisiana, which will create nearly 1,500 jobs, amid their pledge to “further localize production in the U.S.”
- Merck announced it will invest $8 billion in the U.S. over the next several years after opening a new $1 billion North Carolina manufacturing facility.
- Clarios announced a $6 billion plan to expand its domestic manufacturing operations.
- GE Aerospace announced a $1 billion investment in manufacturing across 16 states — creating 5,000 new jobs.
- Stellantis announced a $5 billion investment in its U.S. manufacturing network — including re-opening an Illinois manufacturing plant — as it pledges to increase domestic vehicle production.
- Schneider Electric announced it will invest $700 million over the next four years in U.S. energy infrastructure.
- GE Vernova announced it will invest nearly $600 million in U.S. manufacturing over the next two years, which will create more than 1,500 new jobs.
- London-based Diageo announced a $415 million investment in a new Alabama manufacturing facility.
- Dublin-based Eaton Corporation announced a $340 million investment in a new South Carolina-based manufacturing facility for its three-phase transformers.
- Germany-based Siemens announced a $285 million investment in U.S. manufacturing and AI data centers, which will create more than 900 new skilled manufacturing jobs.
- Paris Baguette announced a $160 million investment to construct a manufacturing plant in Texas.
- Switzerland-based ABB announced a $120 million investment to expand production of its low-voltage electrification products in Tennessee and Mississippi.
- Saica Group, a Spain-based corrugated packaging maker, announced plans to build a $110 million new manufacturing facility in Anderson, Indiana.
- Paris-based Saint-Gobain announced a new $40 million NorPro manufacturing facility in Wheatfield, New York.
- India-based Sygene International announced a $36.5 million acquisition of a Baltimore biologics manufacturing facility.
- Asahi Group Holdings, one of the largest Japanese beverage makers, announced a $35 million investment to boost production at its Wisconsin plant.
- Honda is expected to produce its next-generation Civic hybrid model in Indiana.
- Nissan is considering moving production from Mexico to the U.S.
- Rolls-Royce is expected to shift production to the U.S. and expand its domestic workforce.
- Volkswagen is considering shifting production of the high-end Audi and Porsche brands to the U.S.
- Volvo is considering expanding its U.S.-based output.
- LG is considering moving its refrigerator manufacturing from Mexico to Tennessee.
- Italian spirits group Campari is “assessing the opportunities to expand its production in the U.S.”
- Swedish hygiene product manufacturer Essity is considering shifting production to the U.S.
- Taiwan-based Compal Electronics is considering a U.S.-based expansion.
- Taiwan-based Inventec is expected to expand its manufacturing operations into Texas.
- LVMH, a French luxury giant, is “seriously considering” an expansion to its U.S.-based production capabilities.
- Cra-Z-Art, the biggest toymaker in the U.S., said it will move a “large percentage” of its China-based manufacturing back home.
- Prepac, a Canadian furniture manufacturer, announced it will move production from Canada to the U.S.
- Lear is considering moving its production to the U.S.
- Half of Japanese companies say they’ll boost U.S. investment, largely due to tariffs.
