President Donald Trump recently imposed 25 percent steel and aluminum tariffs to restore fairness in global trade and protect domestic producers.
The United States’ dependence on manufacturing as a source of growth has waned over the years. Today, manufacturing accounts for about 10 percent of gross domestic product, down from 13 percent 20 years ago—and as much as 25 percent in the 1950s, according to an analysis published in November 2024 by Coalition for a Prosperous America, a nonprofit representing domestic manufacturers, using World Bank data.
