CNN panelist issues brutal blow to Donald Trump as he fumes investment has 'plummeted'
Journalist Batya Ungar-Sargon and political advisor Saikat Chakrabarti disagreed over Donald Trump's tariff agenda, as they shared diverging opinions on manufacturing investment
A CNN panelist issued a brutal blow to Donald Trump, fuming that manufacturing investment has "plummeted" under the president.
During a panel discussion last night, journalist Batya Ungar-Sargon, 44, said the "entire point" of the tariff agenda is the reshoring of manufacturing. She said that while this "doesn't happen overnight," Trump "has definitely put a lot of energy to try to make that happen." But political advisor Saikat Chakrabarti, 39, didn't agree, as he asked the TV host to share an example of another country "that has built up manufacturing through tariffs alone."
However, Batya said it's impossible to compare America to other countries which may not have the same workforce or economy. The debate came days after Trump declared that his proposed 100% extra tariff on Chinese goods would not be "sustainable," adding that Beijing "forced him to do it."
While Batya argued that the president's tariff policy "is already working," Saikat said it isn't. He told Batya, "Manufacturing investment was at an all time high under Biden - it has plummeted under Trump." However, the journalist said the political advisor's assessment was "not accurate."
But he hit back, saying, "It is accurate. When you want to build a factory, you have to import parts from other parts from other parts of the world to build those factories. Manufacturing investment has plummeted under Trump."
Following Trump's announcement of his new tariffs earlier this year, US stocks plunged, with the S&P 500 suffering its biggest decline since March 2020. Investors expressed concerns that the tariffs unveiled by the president would raise the risk of a global trade war that may tip the US economy into recession.
Just last week, Trump told Maria Bartiromo of FOX Business that his proposed 100% extra tariff on Chinese goods was "not sustainable." He said, "It's probably not, you know, it could stand. But they forced me to do that."
Following Beijing's tightening of export restrictions on rare earth minerals, which Trump characterized as retribution for China's economic pressure, he increased tariffs to 100% on top of the existing charges, resulting in a 157% tariff. Tensions between Washington and Beijing have since escalated. "I've always had a great relationship with them, as you know, but they're always looking for an edge," Trump said, adding that China has "ripped off our country for years."
In September, Karoline Leavitt as criticized after claiming that President Trump had secured a whopping $9 trillion in investments for the US. This, however, is untrue, as it was pointed out that the White House has not provided any data showing the total anywhere close to the touted $9 trillion.
According to a CBS report, the White House reported future investment pledges while comparing them with a narrower list of projects that were already in the works or completed by the end of his predecessor's term. On April 29, the White House proclaimed that Trump had secured $5 trillion of US investment in his first 100 days and published a partial list titled "The Trump Effect."
Officials stated that the list demonstrated "his America First economic policies have sparked trillions of dollars in new investment." However, that list totals closer to $2 trillion from private companies, and around $5 trillion if commitments from foreign countries are included.
A deeper dive also shows that Trump reported a $4.1 billion commitment from Novelis, a Georgia-based aluminum company that began construction in 2022. The financial commitment came into play during the 2024 financial report. When CBS asked why the project was included, the administration declined to give an answer.
The administration also took credit for a $1.5 billion pledge by Corning to invest in its solar products facility in Michigan. However, a spokesperson claimed that $900 million of this funding was announced months before Trump assumed office. According to the company, an additional $600 million investment was announced in April, making the total, $1.5 trillion. The White House press secretary's comments angered many on social media.
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