Trump bet tariffs would bring back American factory jobs. New report says it didn't work

Summary

Donald Trump wagered that tariffs would revive American factory employment, but a new report contradicts that bet. The study claims Trump's Liberation Day tariffs suppressed hiring by up to 1 million jobs and burdened American families with roughly $1,000 in additional costs during 2025. The finding challenges a central premise of Trump's trade policy, that import duties would incentivize domestic manufacturing and job creation. Instead, the report suggests tariffs had the opposite effect, depressing labor demand while raising consumer prices.