Core Viewpoint - The decline of the U.S. manufacturing sector is attributed to both international competition and structural changes within the U.S. economy, necessitating an examination of the impact of Trump's tariff policies on different sub-industries [3][4]. Group 1: U.S. Manufacturing Sector Overview - The value added by U.S. manufacturing as a percentage of GDP has decreased from 13% in 2005 to an estimated 10% in 2024, with a projected value of approximately $2.9 trillion [4]. - In comparison, the global manufacturing value added as a percentage of GDP was 17.5% in 2022, with the U.S. accounting for 15% of global manufacturing value added, while China led with 30% [4]. Group 2: Employment and Structural Changes - The scale of U.S. manufacturing may be underestimated due to changes in industrial division of labor, where many manufacturing employees are engaged in finance, marketing, and management rather than direct production [5]. - A broader definition of manufacturing employment suggests that the total employment in U.S. manufacturing is around 15 million, which is about 2 million more than the non-farm employment statistics reported by the Labor Department [5].