Tariffs have been incredible’: Trump says America’s rocking’ as Toyota, giants pour billions into US. Was he right? Jing Pan Sat, August 8, 2026 at 3:15 AM PDT 9 min read TM Andrew Harnik/ Getty Images Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. President Donald Trump has spent years arguing that tariffs would force companies to rethink where they build their products. Now, as manufacturers announce billions of dollars in new U.S. investments and the stock market reaches fresh record-breaking highs, Trump says his strategy is delivering exactly what he promised. Must Read Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 6 ways to build wealth like a landlord without actually being one JPMorgan still sees gold hitting $5,000/oz by Q4 and savvy investors are protecting their wealth with a tax-advantaged Gold IRA. Learn more with a free guide from Priority Gold The tax breaks in Trump's 'big beautiful bill' expire after 2028 and experts say most people won't act in time. What to do before the window closes "Tariffs have been incredible," Trump said (1) during a recent interview with Fox News. "We've taken in hundreds of billions of dollars." The Supreme Court ruled against the legal mechanism Trump had used to impose many of those tariffs earlier this year, but the president remains unfazed. The court "gave us a little shot," he said, arguing that his administration is still allowed to impose tariffs through a different legal route. "We've done it a different way, and it's just frankly, it's just as good," Trump said. "A little more complex, but just as good." But in Trump's telling, the real payoff goes beyond the revenue collected at the border. Companies that do not want to pay tariffs on imported goods are increasingly choosing to manufacture their products inside the U.S. instead, he argued. "What it's done is it's brought all these companies that didn't want to pay," Trump said. "If you build here, if you make your car here like Toyota just announced they're building one of the largest car plants in the world. They're coming out of Mexico. Others are coming here." Toyota recently announced a $3.6 billion investment (2) in a new facility at its San Antonio manufacturing campus. The Japanese automaker plans to shift production of its Tacoma pickup truck from a plant in Baja California, Mexico, to Texas once the new facility opens, creating more than 2,000 jobs. And Toyota is hardly alone. Automakers, pharmaceutical companies, technology giants and industrial manufacturers have announced substantial investments in U.S. facilities. The White House (3) has highlighted investments from companies including Toyota, Stellantis, Kraft Heinz and numerous semiconductor and energy businesses as evidence that production is returning to American soil. Stellantis, for instance, announced a $13 billion U.S. investment (4) intended to expand its domestic production by more than 50% the largest in the company's history. Story Continues "Our country is...
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