Contraction, Not Reshoring
U.S. manufacturing has declined consistently since 2025. Claimed investments largely predate the election, while new projects are being cancelled or delayed due to tariffs, labor shortages, and policy volatility.
Labor Market Damage
Unemployment reached a new high in November. Immigration hostility has worsened labor shortages while trade disruption undermines job creation.
State Control Expansion
Despite free-market rhetoric, large segments of steel, rare earths, defense, and semiconductors are now effectively socialized—one of the largest expansions of state control in U.S. history.