Press Release: Tariff Job Gains Exceed Losses by 20:1

August 17, 2018

11,100 Job Gains vs. 514 Job Losses So Far 

Earlier this week, the Coalition for a Prosperous America (CPA) published details of its new ‘Tariff Job Creation Tracker’ that tallied US manufacturing jobs gained in the wake of recent tariff actions. CPA found 11,100 jobs announced or planned in four major sectors affected by tariffs. These results have now prompted a corresponding study of job losses related to the tariffs. To date, CPA has identified only 514 jobs lost specifically due to tariffs—which means that job gains exceed job losses by a 20:1 ratio. 

CPA Chair Dan DiMicco said, “We keep hearing stories abut the sky falling because of President Trump’s strong hand in enforcing existing US trade laws. But the past six months have shown impressive job creation in skilled, high-wage sectors against only very negligible, accompanying job losses.”

The jobs gained and lost were tracked by CPA's research team, led by economist Jeff Ferry. All of the jobs tracked refer to changes that have either happened or been publicly announced by the companies involved. Ferry notes that none of the numbers are estimated; they all come from the companies cited. 

Said Ferry, “Six months after the first of these tariffs came into effect, we’ve seen commitments to create over 11,000 new jobs and only some 500 job reductions. This shows that tariffs are an effective and powerful way of stimulating growth in domestic manufacturing sectors.”

Michael Stumo, CEO of the CPA, said, “The early returns show strong positive job creation. And there will undoubtedly be greater job growth as more sectors receive attention from the administration.”

Be the first to comment

Please check your e-mail for a link to activate your account.