Commerce Secretary Howard Lutnick said the U.S. economy is positioned for rapid expansion under President Donald Trump, citing a historic wave of manufacturing construction and tariff-driven capital investment that he argued will reshape the country's economic trajectory.
$3 Trillion In Investments Will Drive Our GDP ‘Off The Charts’
On Friday, Lutnick highlighted the scale of new factory constructions across the U.S., which he said was driven by Trump’s tariffs.
“You have so many factories being built,” he said, noting that the construction boom that was already underway is set to intensify in the coming months, while speaking on Fox Business’ “Kudlow.”
See Also: Grocery Prices Are Still Climbing — Now Trump Orders Tariff Exemptions To Slow The Surge
Lutnick said, “You cannot invest $3 trillion a year without that driving our GDP off the charts,” while predicting the possibility of a “6% GDP growth” under Trump, “because the factories are coming home and the tariffs are bringing them home.”
Lutnick characterized this as a potential economic inflection point for the country. This is “the golden age that Donald Trump talks about,” he said, noting that it will be led by a resurgence in domestic manufacturing.
He also covered the impact of Trump’s broader economic agenda, including the “One Big, Beautiful Bill,” which is set to begin on January 1, 2026. The legislation focuses on accelerated depreciation, a policy designed to incentivize business investment. According to Lutnick, this will help fast-track factory openings and lead to a surge in employment.
Experts Push Back Against Trump’s Trillion-Dollar Investments
Trump has repeatedly made claims of attracting trillions in investments to the U.S. using the administration’s trade and tariff policies.
He has even warned that if the Supreme Court strikes down his tariffs, after a U.S. Appeals Court ruling did the same a few months ago, the nation could lose out on $15 trillion in planned investments. Trump said, “we would become a Third World Nation, with no hope of GREATNESS again.”
Economist Peter Schiff has pushed back against these claims, while pointing out their fallacies, saying, “If true, GDP growth would explode by roughly 50%,” since America’s GDP now stands at $30.354 trillion.
He also added that capital inflows of this scale would cause the U.S. Dollar to “skyrocket,” while concluding that Trump’s claims were “clearly” not true.
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