CTA-NRF Study Says Chinese Tariffs, Retaliation Would ‘Destroy’ 134,000 US Jobs

The Trump administration's proposed 25 percent tariffs on Chinese imports and retaliatory Chinese actions that could follow would reduce U.S. GDP by nearly $3 billion and “destroy” 134,000 American jobs, said CTA and the National Retail Federation in a Tuesday report. CTA and NRF estimated that “four jobs would be lost for every job gained.” As administration officials head to China for trade talks, “we hope this is the start of a serious negotiation process that leads to a more open Chinese market and protects U.S. jobs and economic growth,” said NRF President Matthew Shay. “We must resolve this trade dispute without resorting to job-killing tariffs and retaliation." CTA thinks “it is best for the administration to seize on China's willingness to negotiate to achieve positive outcomes for U.S. workers, rather than via tariffs that ultimately harm us," said President Gary Shapiro.