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Tag: FEDERAL RESERVE

Trump’s tariffs backfired, causing job losses and higher prices

Trump’s tariffs backfired, causing job losses and higher prices

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Trump's tariffs backfired, causing job losses and higher prices. President Trump's tariffs on imports — supposed to boost the economic system — finally led to job losses and higher prices, a new learn about from the Federal Reserve has found. "We locate that tariff will increase enacted in 2018 are related with relative discounts in manufacturing employment and relative will increase in producer prices," the document by Fed economists Aaron Flaaen and Justin Pierce reads. MarketWatch first said the study, noting that 10 essential industries have been hit by using retaliatory tariffs and higher prices, inclusive of producers of magnetic and optical media, leather goods, aluminum sheet, iron and steel, motor vehicles, family appliances, sawmills, audio and video equipment, pestic