Federal Reserve study:
Trump’s tariffs backfired —
leading to job losses and higher prices
“We find that the 2018 tariffs are associated with relative
reductions in manufacturing employment and
relative increases in producer prices,” concluded Fed economists
“While the longer-term effects of the tariffs may differ from those that we estimate here, the results indicate that
the tariffs, thus far, have not led to increased activity in the U.S. manufacturing sector,”
the top ten industries affected by Trump’s tariffs were:
aluminum sheet,
steel product,
boilers,
forging,
primary aluminum production,
secondary aluminum smelting,
architectural metals,
transportation equipment,
general purpose machinery, and
household appliances.
https://www.rawstory.com/2019/12/tru...e+Raw+Story%29
https://www.federalreserve.gov/econr...2019086pap.pdf