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Will Trump tariffs boost U.S. manufacturing?
As concerns equine about the economical fallout from steep U.S. tariffs connected cardinal commercialized partners, President Trump is highlighting what helium says is simply a large payment of stepped-up import duties: firm concern successful the U.S.
The White House connected Wednesday unveiled a website to way U.S. and overseas companies that person announced investments successful U.S. manufacturing and different projects since the opening of Mr. Trump's 2nd term. The alleged concern tracker presently lists 47 projects involving 50 companies based connected the size of their fiscal commitments.
"Since President Donald J. Trump returned to office, his America First economical policies person sparked trillions of dollars successful caller concern successful U.S. manufacturing, technology, and infrastructure," the tract states.
Technology and AI projects apical the database of concern commitments. Softbank, OpenAI and Oracle person jointly pledged to walk $500 cardinal connected an initiative, dubbed Project Stargate, to physique AI information centers crossed the U.S. Apple successful February besides said it plans to walk much than $500 cardinal building caller factories and expanding existing plants successful 9 states. Nvidia said earlier this period it volition walk up to half a trillion dollars gathering home factories truthful it tin marque its AI supercomputers successful the U.S.
The White House had teased the concern tracker successful a press release on Tuesday listing caller investments successful the U.S. during Mr. Trump's 2nd term, referring to the planned spending arsenic the "Trump effect."
The caller website's debut came arsenic national information connected Wednesday showed that the U.S. system shrank 0.3% successful the archetypal 3 months of the year, heightening concerns that Mr. Trump's protectionist commercialized policies are weighing connected growth.
Mr. Trump has touted tariffs arsenic a mode to boost the U.S. manufacturing sector, unafraid fairer commercialized deals with different countries and make national revenue.
Megan Cerullo is simply a New York-based newsman for CBS MoneyWatch covering tiny business, workplace, wellness care, user spending and idiosyncratic concern topics. She regularly appears connected CBS News 24/7 to sermon her reporting.
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