Trump’s tariffs are killing more than 450,000 jobs

Filed under: Finance, Careers, Employment News

• If all announced tariffs are enacted, long-run GDP will decline by $148.33 billion.
• Roughly 460,000 jobs will be eliminated due to the tariffs.
• The tariffs will offset a third of the Tax Cuts and Jobs Act.

The Trump administration has enacted trade tariffs which will affect goods that come into the United States from several countries, and those countries — such as Mexico, China, Canada and others — have responded with tariffs of their own.

• GDP would be reduced in the long run by 0.12 percent, or $30 billion.
• Wages would be reduced by 0.08 percent.
• More than 94,000 full-time jobs would be eliminated.

• GDP would fall another 0.38 percent, or $94 billion.
• Wages would be reduced by another 0.24 percent.
• Over 292,000 additional jobs would be eliminated.

• GDP will further decline by 0.09 percent, or $23.5 billion.
• Around 72,800 additional jobs would be lost.

• An overall decline in GDP of 0.59 percent, or $148.33 billion.
• Wages are projected to decline by 0.38 percent.
• Nearly 460,000 jobs would be eliminated in total.

Read more...

Permalink | Email this | Linking Blogs | Comments