March tariff increase would cost 934K jobs, advocacy group says

[Yo_Mama_Been_Loggin]

Source: The Hill

If President Trump increases tariffs on Chinese imports as planned next month, the U.S. economy would lose 934,000 jobs, according to an estimate published Wednesday by a pro-trade group.

“The trade war is already creating enormous economic loss, and this report shows how much worse it could get," said Charles Boustany, a former congressman and spokesman for Tariffs Hurt the Heartland.

The group's projections also said GDP would drop by one-third of a percentage point if the new tariffs are enacted on March 1.

Trump imposed tariffs on billions of dollars worth of Chinese imports last year, and has threatened to increase them at the beginning of March if a new trade deal isn't reached with China. Negotiations with China are expected to continue next week, with U.S. Treasury Secretary Steve Mnuchin scheduled to travel to China.



Read more: https://thehill.com/policy/finance/trade/428817-march-tariff-increase-would-cost-934k-jobs-advocacy-group-says

[hedda_foil]

1. Is there a reliable way to vet this estimate.

I hesitate to take the word of a trade group as they are representing their own interests, but it seems likely that the hugely increased tariffs on Chinese goods will cause some major dislocation here. And besides, it looks like we're in the slimy hands of Mnuchin on this.

[rpannier]

2. What's left out of this story

Many of the people who could lose their jobs have personally called trump to tell him they're willing to lose their job because they support his tariffs

(Don't believe me? Wait a few weeks. Trump will tell us it is so)

[riversedge]

3. oh, I believe you.