The Trump administration’s tariffs and growing trade conflicts so far are not enough to hurt the U.S. economy, but the efforts could result instead in job losses and higher prices on some goods for consumers, economists and trade experts say.
The Trump administration slapped tariffs on steel and aluminum imports from Canada, Mexico and Europe last week and threatened $50 billion in tariffs on Chinese goods, with a list of affected imports expected next week. China, meanwhile, said it will end any agreement with the U.S. if the tariffs are applied. China had agreed last month to increase its purchases of U.S. goods and services significantly.
