Hiltzik: So much for Trump's 'manufacturing wins'

Key Points:

• Despite President Trump's claims of a manufacturing renaissance and the "best economy ever," government data show a significant decline in manufacturing investment and job losses since his inauguration, with construction spending in manufacturing down 26.4% and 75,000 manufacturing jobs lost.
• White House officials credit Trump's agenda of tariffs, deregulation, and tax cuts for manufacturing job growth, but economic indicators such as GDP growth slowing to 1.3%, record-low consumer confidence, and rising costs undermine this optimism.
• Many high-profile manufacturing investment announcements under Trump have been criticized as performative or misleading, often involving previously planned expenditures or lacking concrete details on actual spending and job creation.
• Trump's tariff policies and ongoing conflicts, including the war with Iran, have increased costs for manufacturers and created uncertainty, discouraging expansion and contributing to a contracting manufacturing sector.
• Experts argue that Trump's tariffs are ineffective and not part of a coherent industrial policy, contrasting with China's focused government investment in manufacturing infrastructure, making a genuine U.S. manufacturing revival unlikely under current policies.