Goldman Sachs: Tariffs will reduce U.S. jobs
2025-04-14 12:51:08
Odaily News One of the many stated goals of the Trump administration’s tariff regime is to boost U.S. manufacturing employment. That’s a reasonable outcome, Goldman economists wrote, but they concluded that the gain would likely pale in comparison to employment declines in other sectors. Goldman reviewed previous academic research. Most researchers found that for every 10 percentage point increase in tariff rates, employment in protected industries increases by 0.2% to 0.4%. But other industries are hurt. Given the size of the U.S. economy, the impact “means that tariff protection adds nearly 100,000 jobs to manufacturing employment, but input cost pressures drag on downstream employment by about 500,000,” Goldman wrote. (Jinshi)
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