President Trump's new tariffs are causing concern for US manufacturers. A new analysis suggests factory costs could rise by 2% to 4.5%, potentially leading to wage stagnation or job losses. While Trump claims tariffs will boost domestic jobs and reduce the deficit, economists disagree, citing potential higher prices and slower growth. The impact is particularly felt in swing states with high manufacturing employment. Businesses are already experiencing increased costs due to tariffs on steel and other imported goods, despite the White House's claim that inflation is not rising.

Prepared by Christopher Adams and reviewed by editorial team.