Weatherhead's Jonathan Ernest explains the impacts of Trump's Liberation Day tariffs

Impacts of Trump's Liberation Day tariffs linger one year later

Scripps News: Jonathan Ernest, assistant professor of economics at Weatherhead School of Management, said Trump’s tariffs largely backfired: about 90–95% of costs were passed to consumers, raising prices 2%. He notes no manufacturing boom—jobs fell by 100,000—and trade deficits grew rather than shrank, undermining key policy goals.