FX.co ★ Trump’s tariffs trigger crises and mass layoffs across US industry

President Donald Trump’s tariffs on imports have triggered a crisis in the US industry, marked by rising costs, competition for raw materials, and layoffs of employees. This conclusion comes from The Wall Street Journal reporter David Uberti, who noted, “The manufacturing boom President Trump promised would usher in a golden age for America is going in reverse.” Since 2023, employment in the manufacturing sector has decreased by 200,000 jobs, leaving fewer Americans working in the sector now than at any time since the pandemic ended.

The journalist cited the example of steel manufacturer Insteel Industries. Due to a shortage of domestic metal, the company has been forced to purchase it from abroad, incurring additional costs from the tariffs imposed by Washington. Company management stated that there are very few products in the lineup that could have benefited from the tariffs. According to the WSJ, the tariffs have only raised manufacturers’ costs rather than enhancing their competitiveness as promised.

Meanwhile, Trump remains confident in the success of his economic policies. Commenting on high levels of public support, he suggested that Americans “like a strong and powerful country” with the best economy in history. However, actual data on job cuts and rising costs contradicts the White House’s official rhetoric.