A new government report has provided data regarding the outcomes of President Donald Trump's tariff policy. In April, President Trump announced tariffs with stated goals of reducing imports, repatriating manufacturing jobs, and lowering the trade deficit.

Trump Tariff Policy: Early Outcomes Unveiled

Trade Deficit Soars as Exports Decline

The U.S. Bureau of Economic Analysis (BEA) released its monthly trade report, indicating a significant increase in the trade deficit.

The trade deficit increased by 95% in November. This marks the largest one-month rise since 1992.

Exports of American-made goods decreased by $10.9 billion in November, totaling $292.1 billion. This represents a 3.6% decline from October.
Conversely, imports increased by $16.8 billion to $348.9 billion, a 5.0% rise since October.
These figures show that U.S. companies continue to import more goods than they export.

Manufacturing Jobs Fall, Inflation Rises

Manufacturing employment in the United States has seen declines. The Bureau of Labor Statistics estimated a loss of 8,000 factory jobs in December. Since the announcement of the tariffs, factory employment has reportedly fallen by over 70,000 jobs.

Prices continue to increase. Dana Peterson, chief economist at The Conference Board, noted elevated references to prices, inflation, oil and gas prices, and food and grocery prices. Consumer sentiment is also reported to be declining.

Public Opinion on Tariffs

Polling data suggests a lack of broad public support for the tariff policy. A Fox News poll indicated that 37% of registered voters support tariffs.