Economists broadly believe Trump's proposed tariff plan would hurt the U.S. economy, with an analysis by the nonpartisan think tank Peterson Institute for International Economics (PIIE) concluding the proposal would "[inflict] significant collateral damage on the US economy," citing a range of factors including decreased consumer spending, increasing unemployment rates and worse economic growth.
Moody's projected Trump's tariff plan would result in a reduction of 675,000 U.S. jobs and increase the unemployment rate by 0.4%, with Moody's chief economist telling CNN, "If Trump increases tariffs as he has proposed, the economy would likely suffer a recession soon thereafter."
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| 2024 Presidential contenders on Jobs: | |||
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Candidates for President & Vice-President:
V.P.Kamala Harris (D-CA) Robert F. Kennedy Jr.(I-CA) Chase Oliver(L-GA) Dr.Jill Stein(D-MA) Former Pres.Donald Trump(R-FL) Sen.J.D.Vance(R-OH) Gov.Tim Walz(D-MN) Dr.Cornel West(I-NJ) |
2024 presidential primary contenders:
Pres.Joe_Biden(D-DE) N.D.Gov.Doug Burgum(R) N.J.Gov.Chris_Christie(R) Fla.Gov.Ron_DeSantis(R) S.C.Gov.Nikki_Haley(R) Ark.Gov.Asa_Hutchinson(R) Former V.P.Mike Pence(R-IN) U.S.Rep.Dean_Phillips(D-MN) Vivek_Ramaswamy(R-OH) S.C.Sen.Tim_Scott(R) | ||
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