Tariffs: One Year Later

A year ago, President Trump implemented a circus of tariffs, via executive orders, that he promised would bring back manufacturing jobs, and that “factories will come roaring back into our country." So, twelve months later, what are the results?

It depends on one’s perspective, but safe to say, “roaring back” isn’t in any of them. From April 2025 to February 2026, the U.S. lost 89,000 such jobs (or 7/10th of 1% of manufacturing jobs), according to the Bureau of Labor Statistics. That's an average of about 9,000 jobs lost per month. However, one must also take note that an average of 9,600 manufacturing jobs were lost each month from 2023 to 2025 under Biden. Hence, we’re losing manufacturing jobs at slightly lower pace.

Fact is, America has been losing manufacturing jobs since 1979, when we had close to 20 million jobs in the industry. We’re now standing at 12.8 million jobs after a low of 11.5 million in 2010. As a percentage of the work force, manufacturing has dropped from 22% in 1979 to just over 8% today. In the late-1940’s it was over 40%. This has been a decades-long issue.

Technological innovation, and now AI (which Trump loves), has played a roll in the loss of many of these jobs. It’s not just due to the outsourcing of jobs to other countries with penny-on-the-dollar labor costs - which Trump likes to blame. Hypocrisy?

Many manufacturers warned that job losses would happen after Trump announced his tariff agenda. Last July, automakers cited tariffs as responsible for 4,975 job cuts. Later, John Deere laid off 238 workers across three of its plants, after the firm reported its "operating profit decreased due to higher tariffs." To be fair, John Deere was laying off numerous workers prior to tariffs and also shipping some jobs to Mexico.

Readers of my blogs should know I prefer tariffs (which are somewhat avoidable) to other forms of taxation which are mostly unavoidable. However, I believe tariffs should be used to level the playing field for American manufacturers, not as an insane plethora of revenue enhancers. Nor should they be imposed on things that can’t be produced here in bulk.

Iron, steel, and aluminum manufacturing is a necessity. These materials are used in products such as household appliances, generators, cars, and batteries – things most of us can’t live without. We need the free flow of materials to keep us going. However, guaranteed access to such materials in a world ruled by opposing political wills is also important. If tariffs encourage domestic production, bring them on… but in a fair way, not a protectionist way.

Two of my first three jobs were at a shoe manufacturer. Few shoes are manufactured in America today. China produces 61% of all footwear. They could bring us to our knees by refusing to sell us shoes for our feet. Why would any country want to depend on another country for 61% of anything, especially a necessity such as clothing?

I don’t like tariffs, but I don’t hate them, either. They’re a necessity that needs to be implemented wisely.

Source used: Reason