1 hr 13 min ago

Trump's trade policies could cost the US 2.6 million jobs, Chamber of Commerce estimates

From CNN's Danielle Wiener-Bronner

The Chamber of Commerce estimates that President Trump’s trade policies may put as many as 2.6 million American jobs at risk.

In a memo to the business organization’s board of directors, which was obtained by CNNMoney, Chamber president Tom Donohue broke out possible job losses from the administration’s tariff plans and from a threatened US withdrawal from NAFTA. The memo cited outside studies for job loss estimates.

The memo reads...
“On each of these issues, the Chamber has privately and publicly expressed our concerns to the administration and to Congress about the economic damage that an escalating series of back and forth tariffs would have on our own country."

Here’s how the possible job losses break down, according to the Chamber:

  • 134,000 from tariffs on imports from China
  • 470,000 from tariffs on steel and aluminum
  • 157,000 from tariffs on autos and auto parts.
  • 1.8 million from a withdrawal from NAFTA.


https://www.cnn.com/politics/live-news/trump-today-05-31-18/index.html

LIVE UPDATES Trump's trade policies could cost 2.6 million US jobs, Chamber of Commerce says