President Trump told a crowd in the holiday‑decorated Cross Hall that he expects a surge of tariff‑driven manufacturing that will be “the golden age of America.”
He cited Toyota’s $10 billion investment pledge and warned that factories from Germany, Japan, and Canada are already moving in because they can’t stand the current tariff levels.
The former president urged people to “look forward to the results” and said they’ll be visible in the next six months to a year, adding that the country has never seen anything like it.
Despite the optimism, the job market has shown a modest rise in unemployment—from 4.3% to 4.4% in September— and manufacturing activity has slipped for nine straight months, according to the Institute for Supply Management.
The Federal Reserve has cut its target rate by 0.25% to 3.5‑3.75% in response to a softer‑than‑expected labor market, while still battling inflation concerns.
Treasury Secretary Scott Bessent echoed Trump’s confidence, telling Fox News that the economy should accelerate sharply in the first and second quarters and that many price changes are already in motion.
Some economists argue that the uncertainty surrounding tariff policy has been a key driver of the current market turbulence, especially after the administration rolled out its “Liberation Day” tariffs.
Industry analysts note that the bulk of the trade protectionist shifts appear to be done, but a looming Supreme Court decision—expected by June—could undermine the legal basis for many of Trump’s tariff provisions.
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