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Tariffs against China to destroy American jobs

The Trump administration’s proposed tariffs on $50 billion of Chinese imports, coupled with retaliation promised by China, would reduce U.S. gross domestic product by nearly $3 billion and destroy 134,000 American jobs, according to a new study by the National Retail Federation and the Consumer Technology Association. 

The study warns that imposing tariffs on an additional $100 billion of Chinese imports would further destroy 455,000 American jobs and reduce the country’s GDP by $49 billion.

Although the levy of these tariffs would impact several sectors of the US economy, agriculture would be the worst hit with the net income of the farmers declining by 6.7 per cent. 

It would also result in the loss of 67,000 agriculture jobs. And the hit to farmers would more than double if the tariffs expanded to an additional $100 billion of products.

 
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