New scrutiny is falling on the “Trump Effect” website, which attributes a $14 trillion investment boom to Donald Trump’s time in office. But a Reuters report shows that only $2.6 trillion of those claims are supported by facts—and much of that was set in motion during the Biden administration.

Projects from Hyundai, Corning, and LEGO are listed as examples of Trump-era success. Yet, many of those investments came after 2021, fueled by new tax credits, domestic production incentives, and global economic shifts—not legacy Trump policies.

Reuters found that legislation like the CHIPS Act and the Inflation Reduction Act created a more favorable business environment for U.S. manufacturing and tech. Experts also note that business cycles, not presidential influence alone, drive most large-scale capital investment.

This raises questions about how credit is assigned for economic growth. While the Trump team insists they created the right foundation, economic analysts argue it’s misleading to tie recent spending to one administration.

The story reflects broader concerns about politicizing corporate activity and using private investment for campaign messaging. As businesses continue to grow amid global reshoring and energy transition, credit may belong more to policy momentum than political legacy.