> **来源：[研报客](https://pc.yanbaoke.cn)** # Summary of U.S. Manufacturing in Transition: Policy, Performance and the 2026 Road Ahead ## Core Content This report outlines the current state and future direction of U.S. manufacturing, focusing on the four major forces influencing the industry in 2026: 1. **Shifts in Trade and Fiscal Policy** 2. **Evolving Customer and Market Expectations** 3. **Operational, Financial and Workforce Pressures** 4. **Technology Adoption and Governance** The goal is to provide manufacturers with actionable insights to navigate the complex landscape and position themselves for sustainable growth. ## Main Viewpoints - **Trade Policy**: The U.S. has implemented a 10% blanket tariff and higher tariffs on countries with trade deficits. These policies have introduced volatility and uncertainty, but are expected to stabilize by 2026. The U.S.-Mexico-Canada Agreement (USMCA) is being renegotiated, and manufacturers must adapt to these changes. - **Fiscal Policy**: The H.R.1 legislation is expected to solidify and expand on the 2017 Tax Cuts and Jobs Act, with the 100% bonus depreciation and R&D expensing provisions set to significantly impact manufacturing. The IRS is also revising Form 6765, increasing the complexity of tax reporting. - **Reshoring Incentives**: The CHIPS and Science Act and the Inflation Reduction Act (IRA) have laid the groundwork for reshoring, offering substantial federal incentives. However, the shift is not universal, with only 20% of manufacturers expecting significant reshoring and many opting for nearshoring to Latin America or Southeast Asia. - **Inflation and Rate Environment**: Inflation has eased from 3.6% to 3.2% by mid-2025, but it remains higher than historical norms. Manufacturers are facing margin pressure and capital cost sensitivity, but some stresses have eased, bringing a sense of stability. - **Cybersecurity and Compliance**: The Cybersecurity Maturity Model Certification (CMMC) is becoming a standard for cybersecurity in U.S. manufacturing, especially for defense-aligned companies. It is expected to influence broader compliance standards and create downstream pressure for all manufacturers to enhance data governance and audit readiness. - **Consumer Expectations**: The "Amazon Effect" has changed customer expectations, with a demand for greater supply chain transparency, digital purchasing options, and reliable service and product quality. These expectations are also influencing B2B interactions, where transparency and assurance are now critical. - **Operational Challenges**: Manufacturers are dealing with supply chain disruptions, labor shortages, and rising costs. Strategies such as dual sourcing, risk-based scoring, and duty-reduction techniques are being explored to enhance resilience and manage costs. - **Workforce Development**: A shortage of skilled labor is a major concern, with the National Association of Manufacturers projecting a 1.9 million shortfall by 2033. Manufacturers must invest in training, apprenticeships, and public-private partnerships to build a sustainable workforce. - **Capital Management**: With tight credit and margin pressures, manufacturers are focusing on short payback, high cash yield CapEx investments such as predictive maintenance and automation. These initiatives aim to improve efficiency and preserve margins. - **Technology Adoption**: Digital transformation is accelerating, with ERP systems and centralized analytics becoming essential tools for integrating operations, improving visibility, and supporting data-driven decision-making. The ERP market is projected to grow significantly, from $48 billion in 2022 to $96 billion by 2032. ## Key Information - **Trade and Tariffs**: 78% of manufacturers cited trade uncertainty as their top concern, with expected input cost increases of 5.4% in 2025. - **Reshoring**: Only 20% of manufacturers expect significant reshoring, with many focusing on nearshoring to Latin America or Southeast Asia. Reshoring timelines vary by sector, with some requiring 1–3 years. - **Cybersecurity**: CMMC is becoming a benchmark for cybersecurity standards, affecting both defense and non-defense manufacturers. - **Labor Shortages**: 31% of HR leaders say production lines are understaffed, with retirement rates and wage expectations contributing to the issue. - **Capital Expenditure**: Manufacturers are prioritizing CapEx with short payback periods and high cash yield, such as automation and predictive maintenance. - **Digital Transformation**: ERP adoption is rising, with over half of businesses planning to acquire or upgrade ERP systems. These systems are central to improving operational transparency and efficiency. ## 2026 Roadmap - **Policy Alignment**: Manufacturers should stay informed about evolving trade and fiscal policies and align their strategies accordingly. - **Supply Chain Resilience**: Implementing diversified sourcing, risk-based scoring, and tariff engineering will be essential to manage supply chain disruptions. - **Workforce Development**: Investing in training and partnerships will be crucial to address labor shortages and build a skilled workforce. - **Financial Agility**: Focus on cost management, capital discipline, and efficient use of resources to navigate tight markets. - **Technology Integration**: Accelerate digital adoption, particularly in ERP systems and centralized analytics, to support data-driven operations and improve transparency. - **Cyber Resilience**: Strengthen cybersecurity frameworks and ensure compliance with evolving standards like CMMC. ## Conclusion The U.S. manufacturing sector is in transition, driven by policy shifts, evolving customer expectations, and the need for operational and financial resilience. By focusing on smart capital management, digital transformation, and workforce development, manufacturers can position themselves for sustainable growth in 2026 and beyond. A coordinated advisory approach, as provided by Frazier & Deeter, can help translate these priorities into proactive and confident execution.