Donald Trump's trade policy aimed at reshoring American manufacturing through large global trade barriers. However, for this strategy to succeed, businesses needed assurance that these tariffs were permanent. Mixed messaging from Trump and his aides, particularly in terms of negotiation intentions, created uncertainty that hampered business investment. Despite assurances from aides about a permanent shift in trade dynamics, Trump's own conflicting statements contributed to a loss of confidence, making the strategy increasingly untenable.
Once you've said you might negotiate, nobody is going to believe you when you change your mind and say you'll never negotiate.
The key to making it work was to convince businesses that the new arrangement is durable. Nobody is going to invest in building new factories... unless they're certain that the tariffs... will stay in place.
This is the great onshoring, the great reshoring of American jobs and wealth... to describe them as a permanent new feature of the global economy.
The tariffs give us great power to negotiate. They always have.
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