The tariff onslaught against rivals (except China) and allies has reached somewhat of a pause. But President Trump and his administration have worked at a furious pace in several areas related to political economy, taking a proverbial ax to the government and pushing the bounds of the rule of law.
What is an overarching goal of these actions? Or, what is the purpose of Trumponomics?
In a word, reindustrialization.
The administration often describes its approach in populist terms — that it is fighting for forgotten domestic industries and workers and calling out unfair global trade. Tariff-fueled nationalism is a callback to eras when industrial America reigned supreme. For a time during the 20th century, parts of Europe and Asia were rebuilding after two world wars, so U.S. factories thrived, and manufacturing provided upward mobility for millions of Americans.
