The Trump administration’s new tariffs could boost the U.S. industrial market long-term by encouraging manufacturers to build domestically. However, short- and medium-term disruptions are expected, with higher costs impacting manufacturers, including real estate expenses. While reshoring efforts continue, experts say it will take decades.
Trade uncertainty is the industry’s top concern, with 76.2% of manufacturers citing it in Q1 2025—up 20 percentage points from Q4 2024 and 40 points from Q3. Additionally, 62.3% are worried about rising raw material costs.
Manufacturing employment has declined from nearly 20 million jobs (22% of total employment) in the late 1970s to under 13 million (8%) by the end of 2024, per U.S. Bureau of Labor Statistics data.
*Article courtesy of Philadelphia Business Journal
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