Tariffs and Trump Administration Policies: Too Soon to Tell?
The report arrives shortly after President Donald Trump announced tariffs on April 2, with a 90-day pause issued on April 9 for many of them. While the impact of tariffs remains unclear, economists say it’s premature to gauge their full effect.
“This data is too soon to show the full impacts of the tariffs,” said Daniel Zhao.
Kevin Rinz, senior fellow at the Washington Center for Equitable Growth, emphasized the delayed economic feedback:
“Even in the optimistic scenario in which tariffs have the effect of bringing production of some goods back to America, those gains are likely years away.”
“Large cuts to the federal workforce and the cancellations of many government contracts will also be a drag on payroll growth… while tighter immigration flows will weigh on labor supply dynamics,” said Lydia Boussour, senior economist at EY.
Recession Concerns Persist
Despite job growth, the broader economic picture remains cloudy. The U.S. recently experienced its first GDP contraction in three years. Claudia Sahm, chief economist at New Century Advisors, warned:
