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International Trade and investment supports jobs and economic growth in every state, and now supports an estimated 38.1 million American jobs. U.S. trade-related employment grew six and one-half times faster than total U.S. employment between 2004 and 2011. See how Louisiana ranks in the areas of International Trade and Investment, Globally-Engaged US Companies, and Trans-Pacific Partnerships.
The administration’s new tariffs threaten to spark a global trade war. Canada, Mexico, the EU, and China have already retaliated or announced plans to retaliate with billions of dollars in tariffs on American-made products.
Tariffs imposed by the United States are nothing more than a tax increase on American consumers and businesses, including manufacturers, farmers and technology companies, who will all pay more for commonly used products and materials. Retaliatory tariffs imposed by other countries on U.S. exports will make American-made goods more expensive, resulting in lost sales and ultimately lost jobs here at home. This is the wrong approach, and it threatens to derail our nation’s recent economic resurgence.
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