Disentangling the Effects of the 2018–2019 Tariffs on a Globally Connected U.S. Manufacturing Sector

Peer-Reviewed Study · Aaron Flaaen; Justin Pierce · December 2019

Federal Reserve economists, 2019: the 2018 tariffs helped protected industries a little, but higher input costs and foreign retaliation outweighed it, for a net 1.4 percent drop in manufacturing jobs in the most exposed industries.

an interquartile shift in exposure to the tariffs is associated with a reduction in manufacturing employment of 1.4 percent

p. 4; printed p. 3

Federal Reserve economists, 2019: the 2018 tariffs helped protected industries a little, but higher input costs and foreign retaliation outweighed it, for a net 1.4 percent drop in manufacturing jobs in the most exposed industries.

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