Economics
Trade War Hangs Over U.S. Job Market Set for More Gains in June
- Payrolls seen rising 195,000 with unemployment holding at 3.8%
- Any impact from tariffs more likely in July, at earliest
This article is for subscribers only.
President Donald Trump’s global trade war is posing a growing risk to the kind of robust job gains that the U.S. probably enjoyed again in June.
Data due Friday from the Labor Department cover the first weeks since the U.S. imposed steel and aluminum tariffs on some of its largest trading partners, with financial markets whipsawing on the latest trade developments and likely becoming more sensitive to disappointing economic figures. What’s more, companies including motorcycle maker Harley-Davidson Inc. and auto manufacturer General Motors Co. have warned of potential U.S. job losses due to Trump’s trade policies or retaliatory levies.