Source-Business Insider-
It's still early days, but there are some signs that the Trump administration's approach to trade is hurting jobs in the most affected states.
Since announcing tariffs on steel and aluminum in March, the US has rolled out import taxes on $50 billion worth of Chinese goods, and threatened an additional $100 billion in tariffs. In response, China announced plans to impose tariffs on more than 100 American products worth $50 billion annually, including important exports like soybeans and autos.
The chart below shows employment growth in states that have a higher-than-average volume of trade in steel, aluminum, airplanes, cars, and soybeans — all products that are impacted by tariffs. In recent months, they've accounted for a smaller share of total job growth, according to Torsten Sløk, Deutsche Bank's chief international economist.
"The bottom line is that continued corporate uncertainty about input costs and output demand is likely to weigh on job growth going forward," Sløk said. Read more
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From A Different View- President Trump’s tax plan is working for America
Source-CNBC-
As Americans filed their taxes this spring, they wrestled for the last time with a system that for decades plundered their paychecks and made American businesses uncompetitive.
The Tax Cuts and Jobs Act signed into law by President Trump in December is already benefiting American families, workers, and companies. The United States will continue to reap the economic benefits generated by tax reform for years to come.
The tax cuts mean a typical family of four earning $75,000 a year with two children will see a tax cut of more than $2,000 in 2018. Tax reform increased take-home pay for millions of workers as the updated withholding tables that were phased in earlier this year have increased regular take-home pay for millions of workers. Read more
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