December 30, 2019

Trumps tariffs have backfired, at least so far, Federal Reserve reports
President Trump has promoted his trade policy, specifically his tariffs on imported goods, as a means of reviving American manufacturing. It has done the opposite, according to a new study from Federal Reserve economists. Trump's trade war with China and other countries has led to higher consumer prices, failed to boost U.S. manufacturing, and led to domestic job losses."We find that the 2018 tariffs are associated with relative reductions in manufacturing employment and relative increases in producer prices," write Fed economists Aaron Flaaen and Justin Pierce. The tariffs did boost the competitiveness of some U.S.-made goods inside the U.S., they found, but that was "completely offset in the short-run by reduced competitiveness from retaliation and higher costs in downstream industries," and protectionist policies are now intrinsically "complicated by the presence of globally interconnnected supply chains."The industries hit especially hard by "tit-for-tat retaliation" from China and other trading partners include automobiles, iron and steel, aluminum sheet, leather goods, appliances, and various appliances and electronic goods. Those hurt by increased prices include aluminum, steel, boilers, and appliances. "While the longer-term effects of the tariffs may differ from those that we estimate here, the results indicate that the tariffs, thus far, have not led to increased activity in the U.S. manufacturing sector," Flaeen and Pierce conclude."The researchers don't measure the effects on business confidence resulting from the uncertainty regarding U.S. international trade policy," says Greg Robb at MarketWatch. "Many economists see this doubt about future government policy as a primary driver in the decline in business investment this year." Read The Week's Jeff Spross for other economic policy failures that ended up making the 2010s a lost decade.More stories from theweek.com The White House always knew Trump's order to freeze Ukraine aid could blow up, New York Times details San Francisco 49ers and Baltimore Ravens end NFL regular season with top playoff slots The best health advice from 2019
Related Stories
Latest News
Top news around the world
Coronavirus Disease

Coronavirus disease (COVID-19) is an infectious disease caused by a newly discovered coronavirus.

Most people infected with the COVID-19 virus will experience mild to moderate respiratory illness and recover without requiring special treatment. Older people, and those with underlying medical problems like cardiovascular disease, diabetes, chronic respiratory disease, and cancer are more likely to develop serious illness.

Around the World

Celebrity News

> Latest News in Media

Watch It
Danny Trejo Says Ex-Cons Should Be Able to Vote, Rips Trump's Prison Reform | TMZ
October 24, 2020
XhKoXhS3fC0
Best of TMZ on TV This Week: 10/19 - 10/23
October 23, 2020
w6FVKfRQaRY
Sen. Schumer Says Let Voters Wear Candidate Tees to Polls, Guns a 'Bad Idea'
October 22, 2020
acze3hftFEc
Ireland Baldwin poses topless on Instagram to get out the vote | Page Six Celebrity News
October 23, 2020
DDaZ7sStE9g
Ariana Grande flaunts ‘Positions’ in sexy White House video | Page Six Celebrity News
October 23, 2020
mHAFoj58EbA
Gene Simmons kisses longtime LA home goodbye | Page Six Celebrity News
October 23, 2020
xB88qKuvU2k
Aloe Blacc: Live from My Den
October 23, 2020
-ol2cCTBZeI
Tyler Perry on Producing During the Pandemic and Weighing In on Politics
October 23, 2020
GCtEmmdmAz0
AT&T Reports Solid Third-Quarter Financial Results
October 22, 2020
6lRXJoeGtzo
Hilary Duff Is Pregnant! Expecting Baby No. 2 With Matthew Koma
October 24, 2020
QVwLChEp5QA
Necessary Realness: Hailey Bieber Emerges for Fall
October 24, 2020
r79eHH7SX4g
Borat Is Back and Rudy Giuliani Is Not a Fan
October 23, 2020
_VaWIhJNufU
TV Schedule
Late Night Show
Watch the latest shows of U.S. top comedians

Sports

Latest sport results, news, videos, interviews and comments
Latest Events
24
Oct
ENGLAND: Premier League
Manchester United - Chelsea
24
Oct
SPAIN: La Liga
Barcelona - Real Madrid
24
Oct
ENGLAND: Premier League
Liverpool - Sheffield United
24
Oct
SPAIN: La Liga
Atletico Madrid - Real Betis
24
Oct
ENGLAND: Premier League
West Ham United - Manchester City
24
Oct
ITALY: Serie A
Genoa - Inter Milan
24
Oct
ENGLAND: Championship
Reading - Rotherham
24
Oct
ENGLAND: Championship
Watford - Bournemouth
24
Oct
ENGLAND: Championship
Cardiff City - Middlesbrough
24
Oct
ENGLAND: Championship
Bristol City - Swansea City
24
Oct
ENGLAND: Championship
Coventry - Blackburn
24
Oct
ENGLAND: Championship
Huddersfield - Preston NE
24
Oct
ENGLAND: Championship
Sheffield Wednesday - Luton
24
Oct
ENGLAND: Championship
Millwall - Barnsley
24
Oct
ENGLAND: Championship
Stoke City - Brentford
24
Oct
ENGLAND: Championship
Norwich City - Wycombe Wanderers
24
Oct
ENGLAND: Premier League
Fulham - Crystal Palace
24
Oct
ITALY: Serie A
Lazio - Bologna
24
Oct
SPAIN: La Liga
Sevilla - Eibar
24
Oct
SPAIN: La Liga
Osasuna - Athletic Bilbao
24
Oct
ITALY: Serie A
Atalanta - Sampdoria
21
Oct
CHAMPIONS LEAGUE: Group stage, Group D
Ajax - Liverpool
18
Oct
ITALY: Serie A
Roma - Benevento
18
Oct
ENGLAND: Premier League
Tottenham Hotspur - West Ham United
17
Oct
ENGLAND: Premier League
Manchester City - Arsenal
17
Oct
ITALY: Serie A
Inter Milan - AC Milan
17
Oct
GERMANY: Bundesliga
Arminia Bielefeld - Bayern Munich
17
Oct
GERMANY: Bundesliga
Hoffenheim - Borussia Dortmund
17
Oct
ENGLAND: Premier League
Chelsea - Southampton
17
Oct
ENGLAND: Premier League
Newcastle United - Manchester United
17
Oct
SPAIN: La Liga
Getafe - Barcelona
17
Oct
ITALY: Serie A
Crotone - Juventus
17
Oct
SPAIN: La Liga
Real Madrid - Cadiz
17
Oct
SPAIN: La Liga
Celta Vigo - Atletico Madrid
17
Oct
ITALY: Serie A
Napoli - Atalanta
17
Oct
ENGLAND: Premier League
Everton - Liverpool
15
Oct
GERMANY: National cup
Duren Merzenich - Bayern Munich
13
Oct
UEFA NATIONS LEAGUE A: Group Stage
Germany - Switzerland
10
Oct
UEFA NATIONS LEAGUE A: Group Stage
Ukraine - Germany
Find us on Instagram
at @feedimo to stay up to date with the latest.
Featured Video You Might Like
zWJ3MxW_HWA L1eLanNeZKg i1XRgbyUtOo -g9Qziqbif8 0vmRhiLHE2U JFCZUoa6MYE UfN5PCF5EUo 2PV55f3-UAg W3y9zuI_F64 -7qCxIccihU pQ9gcOoH9R8 g5MRDEXRk4k
Copyright © 2020 Feedimo. All Rights Reserved.