The US ranks as the world's second-largest manufacturer, adding $2.9 trillion to the global economy, yet it produces fewer jobs than in the past. Following the announcement of potential tariffs by President Trump on 14 countries, economic experts warn that these tariffs may push the global economy into a recession. While Trump argues that tariffs will boost manufacturing and job protection, the reality shows a complex situation with ongoing investments aimed at revitalizing US industry and job creation in partnership with major companies.
The US is the world's second-largest manufacturer after China, adding $2.9 trillion to the global economy. However, manufacturing contributes far fewer jobs in the US than it once did.
Trump's argument for tariffs is that they will boost US manufacturing and protect jobs, encouraging consumers to buy more US-made goods and increase taxes raised.
Experts fear that higher tariffs, if imposed after July 9, could push the global economy into a recession, contributing to economic instability amid trade tensions.
In a bid to revitalize US industry, Trump announced a $14bn investment on May 30, brokering a partnership expected to create 70,000 jobs.
Collection
[
|
...
]