On the campaign trail, President Donald Trump repeatedly promised to restore America’s manufacturing base. But what exactly is his vision of a reindustrialized America?
“I’m proclaiming that by the end of my term, the entire world will be talking about the ‘Michigan miracle’ and the stunning rebirth of Detroit,” Trump said at a campaign rally in Novi, Michigan, in October.
Since then, the president has pursued a bold tariff strategy, while encouraging foreign countries to invest in American manufacturing and advocating business-friendly regulation standards for emerging tech industries.
But if he achieves the “rebirth of Detroit,” it’s unlikely to make Motor City look like it did in its heyday.
A Friendlier Look at Foreign Investment
On the campaign trail, Trump repeatedly lamented the fact that much of American manufacturing has been moved to other countries.
He blasted the Japanese Nippon Steel Corp.’s purchase of U.S. Steel, saying he would “block it instantaneously” in order to maintain control over the company, which is virtually synonymous with American industry. At the time, he shared that position with then-President Joe Biden.