Tariffs would reduce jobs and real income in US – new study
San Francisco Fed paper says drops in earnings would be unevenly spread
New research from the Federal Reserve Bank of San Francisco has added to the evidence that tariffs will lead to reductions in both employment and real incomes in the US.
In an economic letter published on July 14, Mauricio Ulate examines how current and proposed tariffs could affect the economy, and says the decline in real earnings is being spread unevenly across the US.
“Results suggest that 31 states would gain real income, in some cases as much as 1.7%, while the remaining 19 states would
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