Story perspectives

Trump Era Jobs Drop, Biden Rises; $26 B Tariff Repayment

7/21/2026

Summary

Story summary

Steve Rattner released a graph that shows manufacturing employment falling sharply during U.S. President Donald Trump’s term while rising under President Joe Biden.
Rattner reported that tariff revenue turned negative, forcing a $26 billion repayment after the Supreme Court declared the tariffs unlawful.
Rattner noted a loss of 75,000 manufacturing jobs since President Donald Trump’s re-election despite his claim that tariffs would spark a manufacturing renaissance.

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Story summary

Steve Rattner released a graph that shows manufacturing employment falling sharply during U.S. President Donald Trump’s term while rising under President Joe Biden.
Rattner reported that tariff revenue turned negative, forcing a $26 billion repayment after the Supreme Court declared the tariffs unlawful.
Rattner noted a loss of 75,000 manufacturing jobs since President Donald Trump’s re-election despite his claim that tariffs would spark a manufacturing renaissance.