The Coalition for a Prosperous America has released the results of a new study that shows placing a permanent 25 percent tariff on all Chinese imports could create up to a million jobs. CPA Chief Economist Jeff Ferry says their analysis shows not only those additional jobs over five years but also a major boost in the Gross Domestic Product.
He says when a tariff is placed on China, it causes manufacturers to move to other countries resulting in a lowering of the cost of U.S. imports.
Ferry says the impact of the temporary tariffs on China has resulted in significant production coming back to the United States and their study shows a permanent tariff will cause business manufacturers to respond even more aggressively.
Ferry says ultimately U.S. agriculture will see benefits if a permanent tariff is put on because China needs commodities supplied by America’s ag producers. He says their retaliatory tariffs have hurt them and eventually they will have to lift those.
