Tariffs are 'lose-lose' for U.S. jobs and industry, economist says: 'There are no winners here'

Published On Mar 10, 2025, 3:22 PM

President Trump recently spoke about tariffs during a congressional address, claiming they would create unprecedented job growth. Contrary to his claims, economists warn that these tariffs could lead to job losses and a negative economic impact. The administration has introduced significant tariffs on imports from China, Canada, and Mexico, attempting to protect U.S. industries. However, while some sectors like steel may temporarily benefit, the overall effect of such tariffs is projected to harm other industries reliant on affordable materials, potentially leading to greater job losses. Economists note historical precedents, suggesting that protectionist policies typically do not produce the desired outcomes and could trigger retaliatory tariffs from trade partners, further complicating the economic landscape.