'Donald Trump Passed Tax Breaks For His Rich Friends,' While Biden Aims To 'Deliver:' New Ad Blasts Former President On Manufacturing Record

Author: Melanie Schaffer | November 14, 2023 01:35pm

While at least four key swing states have recently swayed back to favoring former President Donald Trump, President Joe Biden took a swing at Trump on Thursday, thumping the 45th President for his record on manufacturing.

During the Chicago Bears-Carolina Panthers game, a 30-second ad took aim at Trump’s record on bringing manufacturing jobs back to America, attempting to show a contrast between the former president’s and Biden’s economic agendas, NBC News reported.

While Trump is shown golfing, narrated with the words “Donald Trump passed tax breaks for his rich friends, while automakers shuttered their plants and the U.S. lost manufacturing jobs,” Biden is shown meeting with autoworkers to the message: “Joe Biden doesn’t just talk, he delivers,” according to the outlet.

Must Read: Two Years After Stellantis Opens Detroit's First Auto Plant in Three Decades, Tesla Gigafactories Dot The U.S. from New York to Texas - Is American Manufacturing Poised for a Renaissance?

Why It Matters: Empty shelves due to supply chain constraints during the COVID-19 pandemic highlighted the need to bring manufacturing jobs back to U.S. soil. More recently, with the economy teetering on the brink of a recession, the state of the economy is of high priority for each candidate running for the presidency next year.

Throughout the last few years, investors have learned that negative geopolitical headlines strongly correlate to a rise or drop in many stocks, especially U.S. companies that rely on international companies for parts, equipment, products or services.

How To Trade The U.S. Reshoring Effort: As the shift toward relocating the entire supply chain to the U.S. gains momentum, investors might seek opportunities to benefit from the government’s present and future reshoring initiatives.

The Tema ETF Trust Tema American Reshoring ETF (NYSE:RSHO) offers protection against trade wars, geopolitics and supply chain failures, holding companies that through their business practices and initiatives are set to emerge as victors in the reshoring wave.

The fund's industry breakdown is heavily weighted in the industrial sector, which makes up 74.01% of its holdings, while companies focused on materials make up about 20% of the ETF's holdings.

Since RSHO began trading on May 11, the ETF has soared 13.51%, outpacing the S&P 500, which is up about 9% over the same period.

Posted In: RSHO