22 July 2025

The United States Can’t Have a Manufacturing Renaissance Without Innovation

Michèle Flournoy and Tal Feldman

U.S. President Donald Trump returned to office promising a full-scale manufacturing renaissance in America. But the administration’s approach—defined by flashy deals, 

deep budget cuts, and chaotic trade policy—is actively undermining the foundations of U.S. long-term competitiveness.

Yes, there are promising headlines. Texas Instruments is spending $60 billion on fabs in Texas and Utah, 

Nvidia projects $500 billion in U.S.-built AI server output, and TSMC has pledged $165 billion for new chip plants in Arizona.

Michèle Flournoy is a co-founder and managing partner of WestExec Advisors. She served as U.S. undersecretary of defense for policy from 2009 to 2012. X: @micheleflournoy

Tal Feldman is a J.D. candidate at Yale Law School focusing on national security and a former AI engineer for the U.S. government.

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