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The U.S. is losing thousands of manufacturing jobs, analysis finds
Uncertainty over U.S. tariffs and other Trump administration economic policies are deterring manufacturers from hiring, according to the Center for American Progress.
When Mr. Trump in April announced a range of levies on dozens of other countries, the White House said tariffs would protect American workers by reducing the U.S. trade deficit with its economic partners and spurring employers to move manufacturing jobs to the U.S. For now, however, confusion over the scale and scope of U.S. tariffs has put manufacturers on the defensive, increasing their costs and discouraging them from hiring, economist Sara Estrep, one of the authors of the CAP report, told CBS MoneyWatch. Automakers pointed partly to tariffs in announcing nearly 5,000 job cuts in July, according to outplacement firm Challenger, Gray & Christmas, while it noted that the retail sector has also stepped up layoffs and store closures because of economic uncertainty.
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