Goldman Sachs are wary of 500K of US job losses due to tariffs

[BLMFem]

Winning.........so much winning!

 

Goldman Sachs are wary of 500K of US job losses due to tariffs

https://www.forexlive.com/news/goldman-sachs-are-wary-of-500k-of-us-job-losses-due-to-tariffs-20250415/

 

"The broader statistical evidence points to negative net employment effects.
While the range of estimates is wide, academic studies generally find that a 1Opp increase in tariff rates raises employment in protected industries by 0.2-0.4% but that each 1pp increase in tariff-driven costs lowers employment by 0.3-0.6%.
Scaling these estimates to the US economy imply a boost of just under 100k to manufacturing employment from tariff protection but a roughly 500k drag on downstream employment from input cost pressures."

[Presnock]

13 minutes ago, BLMFem said:

Winning.........so much winning!

 

Goldman Sachs are wary of 500K of US job losses due to tariffs

https://www.forexlive.com/news/goldman-sachs-are-wary-of-500k-of-us-job-losses-due-to-tariffs-20250415/

 

"The broader statistical evidence points to negative net employment effects.
While the range of estimates is wide, academic studies generally find that a 1Opp increase in tariff rates raises employment in protected industries by 0.2-0.4% but that each 1pp increase in tariff-driven costs lowers employment by 0.3-0.6%.
Scaling these estimates to the US economy imply a boost of just under 100k to manufacturing employment from tariff protection but a roughly 500k drag on downstream employment from input cost pressures."

At the same time, Elon's DOGE will be cutting any benefits those fired employees would have received too.  A two edged sword against those thinking that they were serving the nation and its people who have abandoned them for sure as Joe citizen who worships Trump agrees with all that he is doing even though they realize that he is catering to the billionaires as the expense of the poor! IMHO

[CHdiver]

At the same time: Novartis plans to invest 23 billion into factories in the USA because of the tax war. Funny, isn't it?

 

https://www.reuters.com/business/healthcare-pharmaceuticals/novartis-plans-invest-23-billion-us-plants-trump-renews-drug-tariff-threats-2025-04-10/

[JimHuaHin]

If Goldman Sacks is worried, could this be the beginning of a Wall Steet anti-Trump revolt?

[placeholder]

16 hours ago, CHdiver said:

At the same time: Novartis plans to invest 23 billion into factories in the USA because of the tax war. Funny, isn't it?

 

https://www.reuters.com/business/healthcare-pharmaceuticals/novartis-plans-invest-23-billion-us-plants-trump-renews-drug-tariff-threats-2025-04-10/

From the article you linked to:

"We believe we can manage the tariffs - though of course they will be very painful - so while that is a factor (behind this investment), it's not the driving factor," Novartis Chief Executive Vas Narasimhan said in an interview, adding that it aims to produce all the drugs it sells to Americans in the U.S. rather than import them.

The Basel, Switzerland-based drugmaker has previously said it hoped to become a top-five player in the U.S. pharmaceuticals market, the largest in the world, as part of a U.S.-first strategy.

[FlorC]

How many of those downstream 500.000 are "immigrants" .

Now that the "immigrants" are slowly getting out , new job openings for some  .

And there will be new start ups to replace some of the products from China.

Some short pain for a better future.

[Digitalbanana]

8 minutes ago, FlorC said:

And there will be new start ups to replace some of the products from China.

Lol!  The US has 5% of the worlds population and 30% of its GDP. Who is ripping who off?

 

[placeholder]

12 minutes ago, FlorC said:

How many of those downstream 500.000 are "immigrants" .

Now that the "immigrants" are slowly getting out , new job openings for some  .

And there will be new start ups to replace some of the products from China.

Some short pain for a better future.

Because the US doesn't have enough job openings already?

https://fred.stlouisfed.org/series/JTS3000JOL

[FlorC]

^ Al lot are not willing to work.

 

Automation is the answer , not illegal migrants.

[placeholder]

18 minutes ago, FlorC said:

How many of those downstream 500.000 are "immigrants" .

Now that the "immigrants" are slowly getting out , new job openings for some  .

And there will be new start ups to replace some of the products from China.

Some short pain for a better future.

Have you already forgotten one of Trump's major U turns?

Trump supports immigration visas backed by Musk: ‘I have many H-1B visas on my properties’

President-elect Donald Trump told The Post Saturday he supports immigration visas for highly skilled workers, appearing to side with Elon Musk in the roiling intra-MAGA debate on the issue.

“I’ve always liked the visas, I have always been in favor of the visas. That’s why we have them,” Trump said by phone, referring to the H-1B program, which permits companies to hire foreign workers in specialty occupations. 

https://nypost.com/2024/12/28/us-news/donald-trump-backs-h-1b-visa-program-supported-by-elon-musk/

[placeholder]

1 minute ago, FlorC said:

^ Al lot are not willing to work.

 

Automation is the answer , not illegal migrants.

Are you claiming that all those jobs can be done by machines or robots? Most of them? You got any facts to support that?