Trump's Tariffs Impact: Hiring Slowdown in the US

The labor market in the USA is showing a slowdown, with hiring declining in July amid the trade and immigration policies of Donald Trump. Employers hired just 73,000 people, against estimates of 115,000, while the unemployment rate rose to 4.2%.

Economists warn of an increased risk of an economic slowdown. Trump has called for the dismissal of the head of the statistical service of the Labor Department.

Tariff increases have led major companies such as Walmart and Procter & Gamble to raise prices. Goldman Sachs estimates that most of the cost is passed on to the domestic market.

Pressure is mounting on the Federal Reserve to cut interest rates as the pace of job creation slows.