Former Treasury Secretary Janet Yellen dismissed former President Donald Trump’s America First manufacturing agenda as a “pipe dream” during an interview on CNBC Monday. Her remarks come just days after Nvidia, a major U.S. tech firm, announced a $500 billion investment in American-based AI supercomputer manufacturing.
Yellen criticized Trump’s reinstated tariffs on foreign goods, claiming they create “chaotic” conditions for U.S. businesses. She warned that reciprocal trade responses from other nations would paralyze economic planning and investment, labeling the tariffs as harmful to both households and businesses.
Speaking on Squawk Box, Yellen argued that bringing back American manufacturing is unlikely and questioned whether it is even “a desirable goal.” She previously attacked Trump’s economic policies on CNN, calling his tariff strategy “the worst self-inflicted policy wound” she has seen in her career.
Kentucky businessman Nate Morris, a potential Republican candidate for Senate, responded sharply to Yellen’s statements. “The very same leftwing elites who are responsible for gutting our manufacturing base, screwing over our workers and building up the Chinese Communist Party,” he wrote, “are upset because President Trump is committed to putting America First and ending their globalist agenda.”
Despite Yellen’s pessimism, Nvidia announced a major expansion of its American operations. The company will invest up to $500 billion to produce AI supercomputers in Texas and other U.S. locations. CEO Jensen Huang confirmed that this effort will build “the engines of the world’s AI infrastructure” in the United States, enhancing national resiliency and supply chain strength.
Yellen’s remarks highlight the ongoing clash between globalist economic perspectives and nationalist industrial policy. As Trump ramps up efforts to restore America’s manufacturing base, corporate and political figures continue to stake opposing positions on the future of domestic industry.
The contrast between Yellen’s defeatist outlook and Nvidia’s historic investment underscores a critical divide: one side doubts America’s industrial future, while the other is betting billions that it’s just getting started.
