Trump vows to launch ‘record-smashing economic boom’
President Trump says under his administration, America will continue its V-shaped recovery.
President Trump plans to transform American manufacturing into the envy of the world if he secures a second term in the White House.
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“We will make America into the manufacturing superpower of the world, ending reliance on China once and for all,” Trump said Wednesday during virtual remarks delivered to the Economic Club of New York and other chapters around the nation.
TRUMP TOUTS US ECONOMIC, JOBS RECOVERY IN SPEECH TO ECONOMIC CLUB OF NEW YORK
The president has used trade deals and tariffs in an attempt to level the playing field with China and is promising to be even more aggressive over the next four years.
THE LATEST ON THE TRADE WAR
American manufacturing had seen a rebirth under Trump. The sector added 450,000 workers during the first three-plus years of Trump’s presidency before the COVID-19 pandemic caused nonessential businesses to temporarily close their doors, resulting in the loss of 700,000 jobs during the March-through-September period, according to the National Association of Manufacturers.
But the sector is on the path to recovery.
NAM said the number of manufacturing job openings in August reached 460,000, the highest since July 2019, despite the number of job openings in the overall economy declining. Additionally, there will likely be a need for 4.6 million manufacturing jobs by 2028.
The comeback of the manufacturing industry has occurred despite former President Barack Obama saying at a June 2016 Town Hall event that jobs in the sector were “not going to come back.”
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