Protectionism Won't Reverse US Deindustrialization
2025-05-20
President Trump's protectionist trade policies have failed to halt the long-term decline of US manufacturing. The article argues that manufacturing's shrinking share of developed economies since the 1940s is a universal trend of "tertiarization," where services dominate. Attempts to reverse this through trade restrictions are ineffective. More effective strategies are public investment, including support for SMEs, education, and infrastructure, rather than tax cuts or wage suppression.
Read more
Tech
deindustrialization