No, America is not in a "stealth manufacturing boom"
Noah Smith
· Noahpinion
· April 21, 2026 at 05:30
· ⏱ 2 min read
| Read on Substack ↗
Summary
The author argues against the idea, proposed by Greg Ip of the WSJ, that America is experiencing a "stealth manufacturing boom" or a "manufacturing revival." The author's central thesis is that tariffs are canceling out any potential tailwinds for the sector.
•The article refutes the narrative of a U.S. "manufacturing revival."
•It specifically takes issue with a recent analysis by WSJ writer Greg Ip.
•The author suggests that tariffs are a key headwind preventing a manufacturing boom.