The paper constructs a policy matrix composed of four dimensions: action domain, intervention level, intermediary goals and policy strategy. Based on the novel framework, the paper disassembles and analyzes American manufacturing policies. Then, exploiting the cross-industry, cross-time variation in the time of the Trump administration’s protective market incentive policy for manufacturing industries, the paper adopts difference in difference method and the introduction of interactive terms to estimate the impact of its policy system on the added value of subdivision manufacturing industries. The results show that within the sample period, the protective market incentive policies and distribution incentive policies did not promote the increase of added value of manufacturing sub-industry or significantly changed its rate of change. The significant role of factor supply policies in promoting the added value of the industry lags half a year, but it has not had a significant impact on its growth rate. Inconsistencies or conflicts between policies made the impact of the policy mix insignificant. China should learn from the failure of the Trump administration’s protectionist policies, continue to expand opening up and enhance the role of the market according to its own determination, promote policy coordination and strengthen its ability to achieve its mission and tasks, and form a policy matrix of synergy and interaction in promoting the construction of industrial commons, enhancing its position in the global production network, actively responding to trade protectionism and multinational monopolies, and improving the stickiness of industrial chains and value chains.