Trump's Tariffs Have Cost Thousands of Factory Jobs in the U.S.

Donald Trump had claimed that tariffs would create new jobs in America. However, thousands of people have already started losing their jobs in American manufacturing plants, mostly in the Midwest and East Coast states.

Volvo Group announced that it would lay off 800 workers at its Volvo and Mack Trucks factories in Pennsylvania, Virginia, and Maryland.

Stellantis, a manufacturer of various vehicles, suspended production at some of its assembly plants in Canada and Mexico. It also announced layoffs of 900 workers at its Michigan and Indiana plants.

Steel producer Cleveland-Cliffs laid off more than 1,200 workers in Michigan and Minnesota.

General Motors announced it would temporarily lay off 200 workers at its Detroit plant.

According to claims, more than 4,100 factory workers have been laid off across the U.S. due to Trump’s tariffs.

Some analysts predict that the number of layoffs in the U.S. could approach 180,000, while Goldman Sachs stated in a report released last week that tariffs could lead to employment losses of up to 500,000 across all sectors.

The International Monetary Fund (IMF) has also forecasted a 1.8% decline in the U.S. economy this year, with the global economy likely to shrink by 2.8% annually. Source: Independent Turkish