With any administration change comes the effect of policies and procedures. As we’re rounding the first 12 months in office, what affect has the Trump administration had on the manufacturing industry so far?
President Trump was elected in part by selling the public on his pro-American manufacturing and bringing jobs back home. As of now, it appears that his stance and the deregulation on manufacturing is showing positive impact across the industry. While fifteen of eighteen sectors have shown growth over the last six months, one of the best indicators is how respondents have answered questions on the National Association of Manufacturers’ (NAM) quarterly survey.
When comparing quarterly surveys from the third quarter in 2016 to the first quarter in 2017, there are significant differences. Respondents on the former survey said, “Unfavorable business climate” (which includes taxes and regulations) were their primary concern. By the time of the latter survey, the respondents had dropped that same category to third on their list of issues they were concerned about. This trend seems to have impacted all of the industry, which understands not only President Trump’s concern with the U.S. economy, but also with his dedication to the growth of American manufacturing.
Another interesting point that can be taken from the survey is that respondents reported feeling more optimistic than ever. In the survey’s 20 years, the rate of optimism has never been higher, coming in at 93.3%. Add to the optimism the fewer reviews by the Office of Information and Regulatory Affairs (OIRA) and it is plain to see why this administration has been so popular with many in the manufacturing industry. President Trump has also been quoted as saying he would like to get rid of 75% of government regulations, many of which impact the manufacturing industry.
Perfection Spring & Stamping Corp. is optimistic about the results of the quarterly surveys and hope we will continue to see positive effects from the new administration throughout the industry.
Furthermore, we have seen a large movement to bring work back to the USA. Companies, such as Walmart, have pledged to purchase American-made. This reshoring movement has started to trickle its way through the various markets. In fact, we at Perfection have seen a noteworthy amount of RFQ’s with either special request to be certified “made in USA” along with some opportunities that were simply about bringing the work back. As a USA manufacturer, we are happy to see the shift and opportunity to grow.
At Perfection, we’ve been specializing in metal forming of high volume custom progressive stampings, fourslide parts, coiled springs, wireforms, and mechanical assemblies for global OEMs for over 60 years.
We are your one stop shop for initial design through finished product, specializing in production volume for a wide range of industries, including: automotive, computer, consumer electronics, construction, medical, garage, home and garden, home office, HVAC, power supplies, plumbing, toys, solar, clean energy, wind, and more.
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