Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below.

President Donald Trump says the U.S. is on the cusp of something “this country has never seen” — and he’s crediting his much-discussed tariff policy.

Speaking at a White House Christmas reception, Trump argued that tariffs are driving a manufacturing revival, pointing to the auto industry as a prime example (1).

“Our car industry … went to Europe, they went to Mexico, Japan — they went all over. They went to South Korea,” Trump said. “And now it’s just the opposite. They’re all coming back. We have an age that’s coming up, the likes of which this country has never seen.”

Trump pointed to Toyota, which recently announced plans to invest up to $10 billion in its U.S. operations over the next five years (2). According to Trump, companies are increasingly choosing to build in the U.S. to avoid tariffs.

“So they’re coming from Germany, they’re coming from Japan, they’re coming from Canada. Many factories are coming in because they don’t want to pay tariffs — very simple. They’re coming in and they’re spending hundreds of billions of dollars,” he said.

The result, Trump says, could be a historic economic upswing.

“We have a country that potentially is geared to have the most incredible golden years ever,” he said, adding that when factories open up “by the thousands,” it would mark “the golden age of America.”

To be sure, that manufacturing boom has yet to materialize. According to the Institute for Supply Management, U.S. manufacturing activity contracted for the ninth consecutive month in November (3).

Still, Trump insists the turnaround is coming soon.

“You’re going to see results in six months to a year. I think you’ll see results — we’ve never had anything like it,” he said.

While Trump’s tariff policies have drawn criticism, major companies continue to view the U.S. as one of the most dependable places to build and grow. That confidence is showing up in the scale of capital they’re committing — across multiple industries.

For instance, Apple has announced a sweeping $600 billion investment in U.S. manufacturing and workforce training (4). Johnson & Johnson plans to put $55 billion into U.S. manufacturing, research and development and new technologies (5). Hyundai, meanwhile, is investing $26 billion in the U.S. to boost automotive production capacity, localize key components and accelerate work on future industries (6).

Story Continues