This week’s revision of third-quarter GDP offers early but compelling evidence that the long-awaited Trump manufacturing boom is beginning to take shape—even as it highlights the power of Trump trade policy to boost exports, restrain imports, and narrow the trade deficit.
Real GDP growth for the quarter was revised up to a strong 4.4 percent annualized rate. That improvement was not driven by government spending or one-off statistical quirks. It was powered by rising exports, falling imports, and strengthening private-sector production—the precise channels President Donald Trump targets through tariffs, tax reform, deregulation, and border enforcement.
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