Goldman Sachs: Tariffs will reduce U.S. jobs
according to data from Golden Ten, one of the many established goals of the Trump administration's tariff system is to increase employment in the US manufacturing sector. Economists at Goldman Sachs wrote that this is a reasonable outcome, but their conclusion is that, compared to the decline in employment in other industries, this growth may be relatively small. Goldman Sachs reviewed previous academic research. Most researchers found that for every 10 percentage point increase in tariff rates, employment in protected industries would increase by 0.2% to 0.4%. But other industries suffered. Goldman Sachs wrote that, in terms of the size of the US economy, the impact "means that tariff protection has increased manufacturing employment by nearly 100,000 people, but the drag on downstream employment due to input cost pressures is about 500,000 people".
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