After hearing presumptive GOP presidential nominee Donald Trump speak today on his economic policies, the conservative leaning U.S. Chamber of Commerce dispatched this via Twitter.
Now, when business conservatives have reservations about his policies…
The Chamber of Commerce says we would lose 7 million jobs and head back into recession if the U.S. followed Trump’s ideas.
The U.S. recession would set in within the first year under Trump’s proposed trade policies, which include a 35 percent tariff on imports from Mexico and a 45 percent tax on goods coming in from China. Over the next three years, the U.S. economy would shrink by 4.6 percent and the unemployment rate would nearly double to 9.5 percent.
Should China and Mexico decide not to retaliate against Trump’s steep tariffs with heightened trade barriers of their own – an unlikely scenario based on recent history – the U.S. would still lose a minimum of 2 million current jobs, while another 1.5 million would not be created. In other words, even under the best case scenario, Trump’s tariffs would strip our country of at least 3.5 million jobs.
Does that sound like “making America great again” to you?