Economics
Job Bonanza in Sectors Protected by Tariffs Is Slowing
- President claims duties contributing to booming U.S. economy
- April employment report showed declines in protected sectors
Photographer: -/AFP via Getty Images
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President Donald Trump loves tariffs and hailing the jobs they create in protected industries, declaring last week that “tariffs are working” and again on Sunday that the taxes he imposed on Chinese imports “are partially responsible for our great economic results.”
If tariffs have created jobs in targeted industries such as steel, most economists argue that has been at a broader cost to the U.S. economy. But there may also be a more worrying trend emerging for Trump even as he roils markets again with threats to deploy more tariffs on China: The job bonanza in protected sectors is slowing and even going into reverse.