|
Report says Trump tariffs cost up to 1 million jobs, $1,000 a family
|
|
Tariffs were sold as a factory revival President Donald Trump… |
|
Tariffs were sold as a factory revival President Donald Trump rolled out his April 2025 tariffs as a kind of industrial reset button. The pitch was simple enough, if not especially subtle: charge more at the border, and America would get more factory jobs at home. A new analysis from the Advancing American Freedom Foundation says that promise did not hold up. The group says the tariff surge did not produce a manufacturing comeback and instead slowed job growth across the economy. That is awkward for any policy sold as a jobs machine. It is even more awkward when the machine keeps sputtering and the bill still gets mailed. The report says manufacturing lost jobs Researchers estimate the tariffs left the country with up to 1 million fewer jobs than would have been expected under pre-tariff trends. Manufacturing, the very sector the policy was meant to help, allegedly lost about 75,000 jobs in the first year, or about 6,250 a month. Richard Stern, vice president of the Plymouth Institute for Free Enterprise at AAFF, said the team had more than 90% confidence that manufacturing lost jobs because of the tariffs. His explanation was blunt: many American producers buy imported parts…
|