Tariff Impact on Jobs and families

 

Given the recent announcement of two  10% tariffs on imports to the US from China, the game industry is looking at 20% minimum price increases on the items we import from China, which is a whole lot of products. The idea, as the administration has said multiple times, is that foreign governments pay the tariff, billions of dollars flow into the US treasury and, to avoid tariffs, companies flock to move their operations to the United States. None of which is going to happen. Remember the tariffs put into place during the first Trump administration? They resulted in fewer jobs in the US, reduced GDP by a full 1%, cost taxpayers about $900,000 per job saved, cost the average household just over $1200 per year,  cost the American workforce about 245,000 jobs, and did nothing to reduce the national debt.