Goldman Sachs: Tariffs will reduce US employment

Odaily Planet Daily News: One of the many established goals of the Trump administration's tariff system is to increase employment in the US manufacturing industry. Goldman Sachs economists say this is a reasonable result, but their conclusion is that this growth may pale in comparison to the decline in employment in other industries. Goldman Sachs reviewed previous academic research. Most researchers have found that for every 10 percentage points increase in tariff rates, employment in protected industries increases by 0.2% to 0.4%. But other industries have been hurt. Goldman Sachs wrote that in terms of the size of the US economy, its impact "means that tariff protection has added nearly 100000 jobs to the manufacturing industry, but the drag on downstream employment from input cost pressures is about 500000 people". (Golden Ten)