Barely a month after signing the One Big Beautiful Bill Act (OBBBA) into law, President Trump has doubled down on trade actions that will directly undermine his approach to taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. policy.
This contradiction is clearest for manufacturers. According to Tax Foundation estimates, the OBBBA will give manufacturers a massive tax cut — $420 billion by 2034 — that is three times larger than that for the next most-favored industry in the OBBBA (information services).
But the OBBBA provisions don’t tell the whole story. While the latest tax law tries to buoy manufacturing, President Trump’s tariffs are an anvil dragging the sector down.
This is a preview of our full op-ed originally published in National Review.
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