Manufacturing Retreat: Tariffs, Subsidies, and the Reality Behind the Numbers

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Despite talk of a manufacturing “golden age,” the numbers tell a different story. Factory employment is down more than 200,000 jobs, and activity has been shrinking for over two years. Tariffs haven’t reversed the trend—they’ve raised input costs, distorted markets, and forced bailouts dressed up as “bridge loans.”
This episode breaks down why government-engineered manufacturing, subsidies, and trade barriers don’t create real competitiveness—and why lower energy costs, market forces, and clearing the deck beat backroom economic planning every time.