Factory jobs down 89,000 one year after Liberation Day

Economic analyses published March 29-30, 2026, on the one-year anniversary of Liberation Day find mixed results from Trump's historic tariff push. Factory jobs have declined every month since April 2025, down 89,000 since the Liberation Day tariff announcement. The average American household has paid an additional $600 in tariff-related costs over the year, with women representing 68 percent of households that fell below the poverty line. The trade goods deficit hit an all-time high in 2025. The Supreme Court struck down IEEPA-based tariffs on February 20 in Learning Resources, Inc. v. Trump (6-3), finding IEEPA does not authorize tariffs. Trump immediately pivoted to Section 122 of the Trade Act of 1974, which imposes a 10 percent global tariff with a 150-day statutory limit requiring congressional extension. More than 20 trading partners have opened their markets to U.S. goods in response to tariff pressure.