(It's not a failure. It was designed to make the economy scream. In that regard its a wild success.)
Thursday marks the one-year anniversary of President Donald Trump unleashing a sweeping package of global tariffs on imported products, which has prompted many critics to reflect on how much economic damage the president has caused.
The Tax Foundation on Monday published an analysis examining the promises Trump made about the benefits of the tariffs, including a claim that “jobs and factories will come roaring back,” as foreign investments would pour in.
This particular promise, the Tax Foundation found, has completely failed to materialize.
“Foreign direct investment (FDI) into the United States has seen no such dramatic spikes,” the Tax Foundation explained. “In 2025, FDI totaled $288.4 billion—more than an order of magnitude smaller than President Trump’s claims. Total FDI in 2025 was below the prior 10 years’ average of $320.7 billion and lower than the annual totals in 2021, 2022, 2023, and 2024 ($405.5 billion, $338.4 billion, $297.4 billion, and $292.3 billion, respectively).”...
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