Trump's Tariffs Cost U.S. Jobs
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term Trump tariffsCNBC
•US Politics
US Politics
Tariffs are 'lose-lose' for U.S. jobs and industry, economist says: 'There are no winners here'
87% Informative
President Donald Trump has pursued an economic agenda of broad tariffs on U.S. trading partners, including Canada , China and Mexico .
Tariffs aim to protect targeted domestic industries.
But they end up costing US . jobs on a net basis, after accounting for retaliation and higher production costs for many businesses.
"There are no winners here in the trade war we're seemingly being engulfed in," one economist says.
President Trump alluded to the potential economic pain of his tariff policies during his address to Congress .
"There will be a little disturbance, but we are okay with that," he said.
The Smoot-Hawley Tariff of 1930 , which triggered a reduction in exports and failed to boost agricultural prices, economists say.
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