Trump’s escalating trade war with China could wipe out benefits from his tax reform – MarketWatch

The Tax Cuts and Jobs Act of 2017 created an estimated 340,000 full-time equivalent jobs, but when you add up all of America’s enacted and threatened tariffs, plus China’s retaliatory tariffs, that could end up slashing more than 580,000 full-time equivalent jobs from the economy, according to one analysis released this month.

“This would completely wipe out any jobs from the Tax Cuts and Jobs Act,” Nicole Kaeding, vice president of federal projects at the Tax Foundation, a conservative-learning, pro-growth think tank, told MarketWatch. Her organization calculates all tariffs could combine to carve $188 billion off the country’s gross domestic product in the long term.

via Trump’s escalating trade war with China could wipe out benefits from his tax reform – MarketWatch