Supply Lines

Trump’s Claim of US Investment Boom Looks Much Smaller Under Scrutiny

Bloomberg analysis shows Trump is overstating investment pledge windfall by a factor of three

Trump speaks prior to pardoning the National Thanksgiving Turkey during a ceremony in the Rose Garden of the White House in Washington.Photographer: Aaron Schwartz/Bloomberg

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By Brendan Murray

November 26, 2025 at 12:00 PM UTC

This article is for subscribers only.

President Donald Trump’s claim that tariffs are helping deliver an historic investment boom in the US is undergoing the first wave of truth-versus-fiction scrutiny.

According to a Bloomberg analysis released this week, Trump’s projections that the tally from companies and countries promising to produce goods and services in US will reach $21 trillion overstate the actual figure by a factor of three.