TechFlow news, April 14 — According to Jinshi Data, one of the established goals of the Trump administration's tariff regime was to boost employment in U.S. manufacturing. Economists at Goldman Sachs wrote that this would be a reasonable outcome, but they concluded that this gain could be dwarfed by employment declines in other sectors. Goldman Sachs reviewed prior academic research. Most researchers found that a 10 percentage point increase in tariff rates leads to a 0.2% to 0.4% rise in employment in protected industries. However, other sectors were harmed. Goldman Sachs stated that relative to the size of the U.S. economy, the impact "implies nearly 100,000 additional jobs in manufacturing due to tariff protection, but a drag of about 500,000 jobs in downstream sectors due to input cost pressures."
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