Why do you imagine that it was a problem in the first place?
A trade deficit is simple... if it's a problem, stop buying from that country. No more deficit! Trump inherited a booming economy with a near record low unemployment... there was nothing to fix.
How is it a failed policy when it is less than a week old?
I suppose you missed how we're experiencing the worst market crash since the end of World War II?
It's quite clearly a failed policy... he's trying to solve a second problem that never even existed, and bankrupting the nation while doing it.
What about last year when all the companies were closing and going into bankruptcy?
March Commercial Chapter 11s Increase 20 Percent from Previous Year
Commercial chapter 11 bankruptcy filings increased 20 percent in March 2025, with filings climbing to 733 from the 611 filings registered in March 2024...
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Total bankruptcy filings were 50,189 in March 2025, a 13 percent increase from the March 2024 total of 44,471. Individual bankruptcy filings also increased 13 percent in March 2025, to 47,462, up from the March 2024 individual filing total of 41,994. There were 30,671 individual chapter 7 filings in March 2025, an 18 percent increase over the 26,102 filings recorded in March 2024. The 16,713 individual chapter 13 filings in March 2025 represented a 6 percent increase from the 15,840 individual chapter 13 filings last March.
Now Johnson & Johnson invested ... and will be hiring more.
That's all great... if it actually happens. All of those announcement were "over the next 4 to 10 years," but with the recent crash will they still happen? Only time will tell.
All combined, it's still a tiny fraction of the $9.6 trillion-with-a-T that we lost last week.
1.9 trillion trade deficit. What is your plan? How is it a failed policy when it is less than a week old? What about last year when all the companies were closing and going into bankruptcy? What about the six times the Biden administration revised the employment numbers? Now Johnson & Johnson invested 55 billion, SoftBank invested100 billion and 100,000 jobs, United Arab Emirates 10 year 1.4 trillion, Taiwan Semiconductor 100 billion into US operations, Apple 500 billion investment, Clariox investing 6 billion into US manufacturing, Honda move its plant from Mexico to Indiana, General Motors to increase production in Indiana that employs 4,149 people and will be hiring more. Failed policy?
Several factory closures in North Carolina have been announced recently, impacting various industries and locations, with notable examples including the Timken bearings facility in Hiddenite, the Unifi textile plant in Madison, and the Wolfspeed silicon wafer production facility in Durham.
Here's a summary of some recent factory closures and related information:
Timken (Hiddenite): The Timken Co. will close its bearings facility in Hiddenite, resulting in the loss of 58 jobs.
Unifi (Madison):
Greensboro-based Unifi will close its Rockingham County plant in Madison, leading to the loss of 250 jobs.
Wolfspeed (Durham):
Silicon chip manufacturer Wolfspeed will close one of its production facilities in Durham, citing shifting demand for its products.
General Shale (East Spencer):
A brick manufacturing company with a 125-year history in East Spencer will close, resulting in the loss of 65 jobs.
Keystone Powdered Metal (Troutman):
Keystone Powdered Metal Company in Troutman will permanently close, impacting nearly 220 jobs.
Richloom Weaving (High Point):
Richloom Weaving plant in High Point will shut down, eliminating approximately 54 jobs.
Panera Bread (Greensboro):
Panera Bread is permanently closing a factory in Greensboro, impacting 80 employees.
International Paper (Statesville):
International Paper is closing its Statesville plant, affecting 74 employees.
HNI (Hickory):
A manufacturer of office furniture in Hickory announced plans to close a plant, impacting nearly 200 jobs.
Eaton (Charlotte):
Eaton is closing a manufacturing site in north Charlotte.
MasterBrand (Statesville and Liberty):
MasterBrand is closing its operations in Statesville and the Norcraft Companies cabinet factory in Liberty, affecting 74 and 200 employees, respectively.
Canton Paper Mill:
Pactiv Evergreen announced plans to shut down the paper mill in Canton, a major employer in the community.
IBM (Winston-Salem):
An IBM facility in Winston-Salem filed notice of intended layoffs.
RTI International (Research Triangle Park):
RTI International has cut jobs in the medical and biotech field in Research Triangle Park.
Stanley Black & Decker (Concord):
Stanley Black & Decker will close its distribution center in Concord, resulting in the loss of 224 jobs.
Congressman Ro Khanna is raising the alarm over mass layoffs in the U.S. economy resulting from the failed economic policies of President Donald Trump, including over 4,000 factory workers who lost their jobs this week due to firings or plant closures.
On Thursday, automaker Stellantis, citing conditions created by Trump's tariffs, announced temporary layoffs for 900 workers, represented by the United Auto Workers (UAW). "The affected U.S. employees," reported CNN, "work at five different Midwest plants: the Warren Stamping and Sterling Stamping plants in Michigan, as well as the Indiana Transmission Plant, Kokomo Transmission Plant and Kokomo Casting Plant, all in Kokomo, Indiana."
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"This week," Khann wrote, "19 factories had mass layoffs, 15 closed, and 4,134 factory workers across America lost their jobs. Cleveland-Cliffs laid off 1,200 workers in Michigan and Minnesota as they deal with the impact of Trump's tariffs on steel and auto imports."
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