Trump’s strategy to use import tariffs to protect and boost U.S. manufacturers backfired and led to job losses and higher prices, according to a Federal Reserve study.
President Donald Trump’s strategy to use import tariffs to protect and boost U.S. manufacturers backfired and led to job losses and higher prices, according to a Federal Reserve study released this week.
“While the longer-term effects of the tariffs may differ from those that we estimate here, the results indicate that the tariffs, thus far, have not led to increased activity in the U.S. manufacturing sector,” the study said. The top ten industries hit by higher prices were: aluminum sheet, steel product, boilers, forging, primary aluminum production, secondary aluminum smelting, architectural metals, transportation equipment, general purpose machinery and household appliances.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
What did President Donald Trump give Melania Trump for Christmas?Donald Trump and first lady Melania spent Christmas in Palm Beach, the same city where John F. Kennedy and Jackie Kennedy spent their last Christmas.
Read more »
Fixing repo market a 'trial and error' process, former Atlanta Fed president saysThe Federal Reserve may need to continue its open market operations and intervention in the repo markets in 2020, former Atlanta Fed president Dennis Lockhart said.
Read more »
For Trump Organization, Office Skyscrapers Make Up for Lagging HotelsDORAL, Fla. -- It is happy hour at Trump National Doral Miami, the sprawling resort that is the biggest cash generator in President Donald Trump&39;s business portfolio. But on a weekday evening in November, only a few sprinklings of patrons grace the resort&39;s bar and high-end steakhouse. Tables
Read more »
Cuomo Blocks Judges Picked by Trump From Officiating New York WeddingsALBANY, N.Y. -- Gov. Andrew Cuomo&39;s feud with President Donald Trump has covered all manner of topics, including taxes, immigration policy and whether America was ever "great."Now, however, the governor has brought their skirmish to a whole new battleground: marriage.In an end-of-year kibosh
Read more »
Opinion | GOP Unity Doesn’t Arise From Fear of TrumpFrom WSJopinion: House Republicans’ rejection of impeachment had more to do with Democrats’ fanaticism than fear of President Trump, writes FredBarnes
Read more »