Trump’s tariffs of benefits and losses.
(Benefits:)
1. Protects US industries from foreign competition and encourages domestic manufacturing.
2. Increases federal revenue through import taxes.
3. Some studies show more jobs and investment in steel, manufacturing, and reduced dependency on imports.
(Losses:)
1. Higher prices for consumers and businesses—up to $1,300–$5,200 extra per US household.
2. Lower economic growth: estimates range from a 0.2% to 6% drop in long-term GDP, plus lost jobs and lower wages.
3. Greater uncertainty for business investment and possible retaliation, hurting exports and some American sectors.