Industrial innovation has slowed down in the United States mainly because of imports from China, according to a recent study. The findings of the study support President-elect Donald Trump’s negative stance on free trade and globalization. But can Trump’s tougher trade policies alone help bring innovation back to the United States?
The Bloomberg U.S. Innovation Index scored each of the 50 states on a 0-100 scale across six equally weighted metrics: R&D intensity; productivity; high-tech density; concentration of science, technology, engineering and mathematics (STEM) employment; science and engineering degree holders; and patent activity.
In few areas were the differences between the presidential candidates this year starker than energy policy. Hillary Clinton promised Americans a half-billion more solar panels. Donald Trump promised to revive the coal industry. The candidates’ rhetoric, and the emotions that they stirred, obscured an energy agenda with support from both sides of the aisle.
This destruction of old value with the adoption of innovation is not hard to see. Electronic media are displacing printed media. Wireless technologies are replacing most wired communications. Travelers are staying in other people’s homes rather than hotel rooms. People are riding in other people’s cars instead of calling a taxi - and I could go on and on. Most innovation is simultaneously constructive and destructive, and who can say how we calculate the net effect.
Some of Donald Trump's biggest campaign promises included the creation of manufacturing jobs for American workers, making better trade deals and increasing military spending. Policies in these areas will affect a tech industry that reaches into every corner of the U.S. economy.
US President-elect Donald Trump in a meeting with technology CEOs in New York promised to provide constant assistance for advancing their pioneer work. "We want you to keep going with the incredible innovation," Trump said in his opening remarks on Wednesday as quoted by Politico.
“This bill maximizes the nation’s investment in basic research, and helps boost U.S. competitiveness, creates jobs and spurs new business and industries,” said Representative Lamar Smith (R–TX), who chairs the House science committee, in a statement issued shortly after the vote. “It improves accountability and transparency, reduces administrative burden on researchers, enhances agency oversight, which improves research coordination, and reforms federal science agency programs to increase the impact of taxpayer-funded research.”
Ford employees are driving innovation throughout the business at record pace, netting approximately 1,500 U.S. patents so far this year - the most of any automaker and a 25 percent increase versus 2015. Ford employees have submitted the most patent applications in the company’s 113-year history this year -in both the United States and globally.