As the US wields tariffs in a bid to lure manufacturers back home, an erratic trade policy, a controversial immigration crackdown and weakening consumer demand have taken the shine off the American dream for some Chinese investors already stateside.

Since his first term, Trump has positioned tariffs as a key instrument to rebuild American industry, boost blue-collar employment, and close the trade deficit. But that strategy is straining investors such as Peter Wang, who opened a mobile-phone-repair factory in Dallas, Texas, in 2002.

“Trump’s tariffs have definitely brought more American customers our way – but they still expect the speed and low costs of Asian factories, and that’s just not realistic in the US,” said Wang, whose facility employs more than 200 workers and is currently breaking even.

“When American clients want to try new products, Chinese factories can pivot fast – they’re flexible, hands-on, and ready to make it work,” he said. “In the US, a whole production line can stall just because the system isn’t set up right.”

“The US customs and fiscal systems offer no effective solutions. If I have to bear such high costs, why would I want to move manufacturing to the US,” he said, noting that he is still sourcing raw materials from Asia at an increased cost. “Trump wants to bring manufacturing back, but his advisers don’t seem to understand how the supply chain actually works.”