A new government study shows how Trump’s tariffs have backfired

“Economists Aaron Flaaen and Justin Pierce, who describe their study as “as the first comprehensive estimates of the effect of recent tariffs on the US manufacturing sector,” argue that the data shows that any benefits from protection from foreign competition have been more than canceled out by retaliatory tariffs from trading partners and an increase in the cost of components sourced from abroad.

As a result, US manufacturing has seen job losses and higher prices for consumers.”