Economist Justin Wolfers of the University of Michigan argues that foreign-built factories in the U.S. bring American jobs but send the profits to foreign companies, and he criticized President Donald Trump for boasting about $21 trillion in investment. The White House's own investment tracker adds up to $11.3 trillion at face value. Trump also said Audi, the premium unit of Volkswagen AG, will invest about $4 billion in a Georgia assembly plant creating about 4,500 jobs, though Audi has no U.S. plant and tariffs cost it about $1.4 billion last year. Wolfers said foreign investment and trade deficits are 'two sides of the same coin,' noting that the U.S. goods trade deficit widened 2.1% to $134.9 billion in September, its largest since March 2025, as imports hit a record $344.1 billion.
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SPY
• NeutralSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/29/2026 | 769.36 |
| Change that session | -0.38% |
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