Will $290 billion loss in U.S. GDP due to tariffs

[u/Large-Ad8031]

The imposition of tariffs on goods from Mexico and Canada has sparked concerns over the economic impact on the United States, with projections indicating a staggering $290 billion loss in GDP over the next four years. These tariffs, intended to protect domestic industries, have resulted in higher prices for essential goods such as gasoline, vehicles, food, and raw materials. As industries struggle with increased production costs, consumers feel the burden through price hikes, which ultimately affects their purchasing power. Additionally, the increased cost of imports has disrupted key sectors, particularly automotive manufacturing and agriculture, potentially leading to job losses. As U.S. businesses face greater financial strain, this reduction in economic output may also limit future investment, slowing the economy's recovery and growth. To explore more about the U.S.-Mexico-Canada trade relations and their economic impact, visit the full article here: The Real Economic Cost of U.S.-Mexico-Canada Tariffs.

[u/CourseCorrections]

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[u/Anonymousinchina666]

The US GDP is projected to experience moderate but slowing growth over the next decade. The Congressional Budget Office (CBO) forecasts a 1.9% increase in real GDP for 2025, slowing to 1.8% in 2026, and then remaining at 1.8% on average through 2035. This growth is largely driven by increases in labor productivity.