Trump and Harris Want to Revive Manufacturing, but How Much Could They Actually Do?

Published On Oct 3, 2024, 5:04 AM

The article discusses the ongoing debate in the U.S. presidential race regarding how to revitalize the manufacturing sector. Former President Trump advocates for imposing heavy tariffs on imports to encourage companies to manufacture domestically, while Vice President Harris supports tax credits and apprenticeships to bolster manufacturing towns and embrace advanced technologies. Both candidates seek to address the flat job growth in manufacturing, which has been largely affected by macroeconomic conditions. Ultimately, the article emphasizes that presidential policies can influence manufacturing's trajectory, but broader economic forces often have more significant impacts.

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Stock Forecasts

GEView GE chart on TradingView

Positive

Due to the ongoing focus on domestic manufacturing and potential policies that could incentivize production, there may be an uptick in companies directly tied to manufacturing or advanced technologies. Companies like General Electric, which has a significant manufacturing footprint, could benefit from supportive policies.

WMTView WMT chart on TradingView

Negative

With the potential for tariffs to increase the cost of imports, consumer goods companies that rely heavily on foreign manufacturing might face headwinds. As a result, companies like Walmart could see pressure on profit margins due to increased costs.

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