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Items tagged with: Tariffs

"US manufacturing employment🚨is plummeting:

US MFG payrolls dropped -18K in Nov, the 2nd-largest decline since Oct 2023.

Also marks the🚨5th monthly decrease this year.

MFG employment has now fallen in 25 of the last 35 months.

Meanwhile, the ISM MFG Employment Index fell to 44.0 pts in Nov, posting its 10th consec monthly contraction.

This has historically been a leading indicator for US MFG #jobs,🚨suggesting further declines ahead."
-Kobeissi L
#Economy #Tariffs #Protest #Recession #USPol

Bar graph of ADP nonfarm payrolls Net Chg MFG 2021-current:
#economy #protest #jobs #uspol #tariffs #recession

As the NYT board has noted in previous editorials, the revival of domestic manufacturing is a worthy goal, & if #tariffs were applied judiciously, the benefits might outweigh the #costs. But #Trump’s indiscriminate use of tariffs is doing far more harm than good. The current tariffs will cost the average #US household about $1,800 per year, the Yale Budget Lab estimates.

The admin’s crackdown on #immigration is similarly being conducted in ways that maximize the economic costs.

#economy

#economy #Trump #us #immigration #costs #tariffs

“But the policies they’ve chosen have created extra costs for businesses, & businesses tend to pass on costs,” Sahm added.

The cost of #Trump’s policies is likely to increase in the coming months.

His most inflationary policy is his campaign to build a wall of #tariffs around the US #economy. Tariffs are #taxes on imports, & they are *initially* paid by the businesses that bring goods into the #US.

#FactCheck #TrumpLies #inflation #affordability #CostOfLiving #recession #trumpcession

#economy #Trump #us #inflation #taxes #costofliving #TrumpLies #factcheck #tariffs #recession #trumpcession #affordability

In the early months of #Trump’s term, importers mostly absorbed those #costs rather than raising #prices to recoup the money from #consumers. Some companies said they were waiting to see if the #tariffs would last. As time has passed, companies increasingly have shifted the costs of the tariffs to their customers. Goldman Sachs estimates that the share of tariff costs borne by consumers has increased from 22% in April to 55% in Oct, & that it will continue to rise, reaching 67% by mid next year.
#Trump #costs #consumers #tariffs #prices

The annual rate of #inflation was 3% in Sept—almost exactly the same as it was on Inauguration Day.
Trump’s failure was predictable. #Prices almost never fall across the entire #economy. When they do, it tends to be because of a crisis, such as the #GreatDepression. Trump is responsible for misleading people. But he has not merely failed to keep an impossible promise. Trump has pursued policies, starting with #tariffs, that are making the problem worse by making life in the #US less #affordable.
#economy #us #inflation #greatdepression #tariffs #prices #affordable

The very afraid Grocer-in-Chief

Trump drops tariffs on beef, coffee, tropical fruit as pressure builds on consumer prices
#politics #tariffs #TACO
apnews.com/article/trump-tarif…

#politics #taco #tariffs

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