OPINION:
Since returning to the White House, President Trump has been knocking down the walls that impede businesses from making the necessary moves to grow. The Biden administration was characterized by years of regulators, antitrust and otherwise, hobbling efforts by businesses to expand and do what they need to do to better serve their customers with better products at lower prices.
The Biden White House issued executive orders creating layers of regulatory hurdles, all while the Federal Trade Commission and the Justice Department’s antitrust division harassed companies that sought to build for the long term by acquiring complementary businesses.
Mr. Trump has turned the tide. Early in his tenure, he issued an executive order rescinding onerous Biden-era directives. The president soon followed it up with another order to expedite corporate investments, reduce regulatory burdens and address excessive timelines for permitting.
Beyond official actions, Mr. Trump has made great strides simply by sending market signals that he won’t stand in opposition to corporate efforts to invest and grow. This much-needed change has alleviated the business and investor concerns that proliferated during the Biden years. Mr. Trump has made it clear to anyone willing to listen that his priority is to expand investment in the U.S. His championing of newly announced investments in press releases and social media serves as a frequent reminder.
A natural and welcomed byproduct of the Trump economic agenda has been an increase in businesses reaching merger and acquisition agreements. In the first nine months of 2025, deals involving targets in the Americas had a total value of $1.26 trillion, according to Boston Consulting Group. That represents a 26% increase over the first nine months of 2024. Forecasts anticipate that M&A deal activity will increase further next year.
Amid this positive economic environment, Kimberly-Clark recently unveiled a major agreement to acquire Kenvue, uniting two leading American companies that produce many of the consumer products found in every home. This is exactly the type of deal, made possible under current economic conditions, that we should applaud.
The consumer products market is global and highly competitive, with China continually expanding its presence and other major foreign companies holding substantial market shares. Uniting Kimberly-Clark and Kenvue will build a stronger American company positioned to compete more fiercely with foreign companies.
It will also provide more assurance that Americans can rely on U.S. companies with domestic facilities to produce the health and wellness products they need without overly relying on China and other foreign sources. The Trump administration is rightly focused on making America healthier again. Securing its supply of critical health products is one way to advance that agenda.
The deal will also bolster American manufacturing. Kimberly-Clark, home to staple brands such as Huggies, Kleenex and Cottonelle, manufactures nearly all its products in the U.S. By acquiring Kenvue and its associated brands, such as Zyrtec, Aveeno and Listerine, Kimberly-Clark will leverage its manufacturing capabilities to strengthen Kenvue’s operations and supply chains. This reinvigoration will protect U.S. manufacturing jobs, a top priority of the Trump administration.
Deals like this also bode well for continued corporate investments. Already, Kimberly-Clark unveiled a $2 billion investment this year to expand its manufacturing capacity in Ohio and South Carolina. The move is expected to create more than 900 jobs and increase wages. With Kimberly-Clark adding Kenvue and growing its footprint, one can expect continued investments to flow from this combination.
Workers and American manufacturing aside, studies show us that consumers stand to benefit from deals like this. Combining the know-how of leading companies such as Kimberly-Clark and Kenvue often leads to higher levels of innovative activity. That means higher-quality products produced at lower costs, allowing American consumers to buy improved essentials at lower prices.
The Trump administration has freed American businesses to take the strategic steps necessary to position themselves for long-term success. By helping unleash the animal spirits of American entrepreneurialism, Mr. Trump has steered the country’s economy in a direction of growth and away from the stagnation that became so familiar during the Biden years.
As the Trump administration continues to clear the path for growth, deals such as Kimberly-Clark’s acquisition of Kenvue remind us that a confident private sector remains America’s greatest engine of innovation and prosperity.
• Dave Brat is a PhD economist and former U.S. congressman, having represented the 7th Congressional District of Virginia from 2014 to 2019.
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