Peterson Institute for International Economics
June 13, 2025
vlog Authors
See citation below for complete author information.
Albert L. Williams Professor of International Trade and Investment
Abstract
On April 2, a day he dubbed “Liberation Day,” President Donald Trump proposed tariff increases on US trading partners that, according to his Council of Economic Advisors, would be consistent with driving bilateral trade deficits to zero. In a post on X, US Trade Representative Jamieson Greer heralded President Trump's trade action, saying it “will usher in a reshoring renaissance and open foreign markets, expanding our manufacturing base and creating new high-paying jobs.”
Citation
Lawrence, Robert Z. "Closing the trade deficit would barely raise the share of US manufacturing employment." Peterson Institute for International Economics, June 13, 2025.