U.S. Job Growth Slows as Tariff Uncertainty Hits Economy

New numbers from the Labor Department are raising concerns about the strength of the U.S. economy. The Bureau of Labor Statistics reported Friday that job growth slowed significantly in July, with just 73,000 jobs added nationwide. Economists were expecting stronger numbers.

The report also revised previous estimates, showing that May and June combined had 258,000 fewer jobs than initially reported. Experts say much of the slowdown is tied to growing economic uncertainty stemming from shifting trade policies.

“There’s just so much uncertainty around where these trade deals and where policy is ultimately going to land,” one analyst said. “That type of uncertainty really has quite seismic consequences, and we’re starting to see it show up in the labor market.”

The White House, however, downplayed the numbers, suggesting that some job losses may be due to tighter immigration policies affecting foreign-born workers. Officials said they expect improvement in the months ahead as new trade measures take effect.

On Thursday, President Donald Trump announced a revised trade policy that will introduce new tariffs starting August 7. The plan imposes a 10% tariff on countries where the U.S. exports more than it imports. Nations with trade deficits face a 15% minimum tariff, and more than two dozen countries will see even higher rates.

Economists warn that these tariffs could raise prices for consumers as the added costs are passed along to everyday goods.

“Tariffs are a tax on literally everything the American consumer is buying,” one expert said. “When you tax those goods, you make them more expensive, and that impacts the pocketbooks of the American people.”

In Washington, Michael Yoshida reporting.

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