Trade wars could cost 2 million US jobs | WHAT REALLY HAPPENED


Trade wars could cost 2 million US jobs

As US business leaders grapple with consequences of the Trump administration’s inclination to use tariffs, new research released this month detailed the potential scale of the self-inflicted pain.

Washington DC-based consulting firm Trade Partnership Worldwide put together a report estimating the possible effects should the US go through with threatened escalation in tariffs on Chinese goods and new duties on foreign autos.

The damage inflicted to the US economy due to tariffs already imposed, as well as possible additional tariffs and retaliation, could end up shaving 1% off of GDP growth, while costing more than 2 million jobs, the economists found.

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