Businesses in the United States have filed for bankruptcy this year at a level not seen since 2010 as President Donald Trump’s tariff regime has jacked up costs for companies in manufacturing and other major sectors.
Citing data from S&P Global Market Intelligence, the Washington Post reported over the weekend that at least 717 US companies filed for bankruptcy through November 2025, the highest figure recorded since the aftermath of the Great Recession and a 14% increase compared to the same period last year.
“Companies cited inflation and interest rates among the factors contributing to their financial challenges, as well as Trump administration trade policies that have disrupted supply chains and pushed up costs,” the Post noted. “But in a shift from previous years, the rise in filings is most apparent among industrials—companies tied to manufacturing, construction, and transportation. The sector has been hit hard by President Donald Trump’s ever-fluid tariff policies—which he’s long insisted would revive American manufacturing.”
Recent data shows that the US has lost 49,000 manufacturing jobs since Trump’s return to office.
The bankruptcy figures add to the growing pile of evidence showing that Trump’s tariffs and broader policy agenda have harmed the US economy—weakening job growth, driving the unemployment rate up to the highest level since the Covid-19 pandemic, and worsening the nation’s cost-of-living crisis.
Democrats immediately seized on the new reporting as evidence of Trump’s failed stewardship of the US economy, messaging that’s likely to be central as the 2026 midterms approach.
Trump’s economic policies did this. pic.twitter.com/tRfcNxAyAU
— Sean Casten (@SeanCasten) December 27, 2025
Ken Martin, chair of the Democratic National Committee, said Monday that “when Donald Trump signed his Big Ugly Bill into law, he cemented the Republican Party as the party of billionaires and special interests—not working families, farmers, or small business owners.”
“While millions of working families are already being squeezed to afford groceries, utilities, and rent, Trump chose to strip them of their healthcare and food assistance just so he could give his ultrawealthy friends and donors an extra buck,” said Martin. “Make no mistake: Trump’s ‘signature achievement’ will be the nail in the coffin for the Republican majority when voters head to the polls next November.”
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