The conditions are ripe for a boom in American manufacturing, especially in high-tech, high-value-added sectors, including semiconductors, pharmaceuticals, refined hydrocarbons, chemicals, and cloud infrastructure. Moreover, considering energy costs, property rights, and the quality of its workforce, the U.S. remains one of the world’s most competitive places to do business. Yet, there are obstacles standing in the way of a manufacturing revival: high corporate taxes, unfavorable trade deals, and the decades-long encroachment of the regulatory state—with an army today of 300,000 regulators and an annual budget of $60 billion.
How Regulations Stifle a U.S. Manufacturing Renaissance
