Tariffs won't bring manufacturing jobs back to America, Wells Fargo analysts say

Wells Fargo says in a report that President Donald Trump's tariffs won't bring manufacturing back.

Carlos Barria/REUTERS

• Wells Fargo said in a report that President Donald Trump's tariffs won't bring manufacturing back.
• High labor costs and a lack of workers would make building more factories an "uphill battle."
• US manufacturing needs $2.9 trillion in investment to reach 1979 employment levels.

President Donald Trump's push to revive American manufacturing through tariffs may face some hurdles.