By The Epoch Times | Created at 2025-03-11 19:39:59 | Updated at 2025-03-12 07:43:53
12 hours ago
The Small Business Administration announces an initiative to slash regulations, boost manufacturing, and expand financial support for small businesses.
The Trump administration has unveiled a sweeping new initiative aimed at revitalizing American manufacturing by slashing regulatory burdens and expanding financial support for small manufacturers.
The “Made in America Manufacturing Initiative,” announced on March 10 by the Small Business Administration (SBA), seeks to cut $100 billion in regulations, improve capital access, and strengthen domestic supply chains in a bid to bolster U.S. economic dominance and national security.
“The great American comeback starts with restoring American industry,” SBA Administrator Kelly Loeffler said in a statement. “With the Made in America Manufacturing Initiative, we’re slashing red tape, expanding access to capital, and fueling a manufacturing resurgence that will create high-paying jobs and revitalize communities across the country.”
Loeffler added that the initiative aligns with President Donald Trump’s broader economic agenda, which prioritizes job creation, tariffs to promote fair trade, and tax cuts to boost domestic production. She described the effort as a major step toward rekindling the blue-collar boom that marked Trump’s first term.
A centerpiece of the initiative is the elimination of $100 billion in regulatory burdens through the SBA’s Office of Advocacy, which will work across federal agencies to streamline rules that disproportionately impact small manufacturers. Additionally, the SBA will launch a Red Tape Hotline, allowing business owners to report excessive regulations for review.
To boost financial support, the administration is lowering barriers to the SBA’s 504 loan program, which provides capital for real estate, construction, and equipment purchases. The program, which operates without taxpayer subsidies, will be made more accessible to small manufacturers.
Related Stories
The initiative also expands the 7(a) Working Capital Pilot Program, offering financing options for inventory purchases and export-related expenses.
Recognizing the need for more skilled labor, the initiative includes a workforce development push in partnership with trade schools, private sector leaders, and government agencies. The goal is to create a talent pipeline capable of supporting a renewed manufacturing sector.
The initiative will also support Trump’s manufacturing agenda by allowing manufacturers to fully expense capital investments, with the policy applied retroactively to Jan. 20, 2025.
“By prioritizing American-made products, we’re not just securing our economic dominance—we’re protecting our national security by ensuring the essential goods we rely on are produced right here at home,“ Loeffler said. ”SBA’s initiative is a promise to every hardworking American and small business owner: We’re putting American jobs and strength first.”
As part of the rollout, the Office of Manufacturing and Trade will embark on a two-month, multistate “Made in America Roadshow” to engage with small manufacturers. The roadshow will feature roundtables and discussions aimed at refining implementation of the initiative.
The economy was a key issue for voters in the 2024 presidential election, with Trump securing a strong mandate on his promises to expand energy production and revive domestic manufacturing.
The U.S. manufacturing sector returned to growth in January after more than two years of contraction, while business optimism soared in part on hopes that Trump’s policies would improve business conditions.
In February, American manufacturing sector growth accelerated significantly, although the buoyant mood seen in January fell as businesses became more concerned over the impact of tariffs, according to the latest S&P Global US Manufacturing PMI.
“Worries have noticeably swelled in relation to the inflationary impact of tariffs, which were widely reported as having caused factory input costs to spike higher in February,” Chris Williamson, chief business economist at S&P Global Market Intelligence, said in a statement. “These higher costs are being passed on to customers, resulting in the strongest factory gate price inflation recorded for two years, which manufacturers fear may in turn not only damage sales in the coming months but also encourage the Fed to take a more hawkish view of inflation.”
A separate report on the condition of U.S. manufacturing, released on March 3 by the Institute of Supply Management (ISM), showed that February marked the second consecutive month of growth in the sector for the first time in over two years. However, the ongoing improvement was tempered by a significant 7.5 percentage point rise in the prices index—which points to inflationary pressures—along with survey respondents expressing anxiety and uncertainty over the impact of tariffs.
Trump has said his trade policies could cause some short-term pain but says this is a temporary adjustment that will result in a positive impact over the longer term.
Meanwhile, small business confidence slid for the third consecutive month, as owners voiced mounting concerns over economic conditions, inflation, and policy uncertainty, according to the National Federation of Independent Business.
