In the last 24 hours, Donald Trump imposed the largest tariffs since WWII, as the U.S. economy had the “weakest 3-month period of job growth since COVID” 

In response to the July jobs report, DNC Communications Director Rosemary Boeglin released the following statement:

“Donald Trump promised he’d bring costs down on Day One and deliver a ‘Golden Age’ for America. Six months later, prices are up and job losses have skyrocketed — reaching levels not seen since the pandemic — as hiring slows to a near standstill. Working families aren’t being ‘liberated,’ they’re being robbed by Trump’s billionaire-first economic agenda. As Republicans head home for the August recess to sell the least popular budget bill in modern history, they will have to explain to their constituents that they just voted for the largest-ever redistribution of wealth from the bottom to the top while Trump drives our economy off a cliff.” 

NEW: Donald Trump’s chaotic trade war has led to the weakest three-month period of job growth since COVID — adding just 73,000 jobs in July — and destroyed the American manufacturing sector, killing over 28,000 manufacturing jobs. 

Jamie Dupree: “May-June-July is the weakest 3-month period of job growth since COVID.  If you throw out 2020, it’s the weakest 3-month period since 2010 and the aftermath of the Great Recession.”

Bureau of Labor Statistics: “Manufacturing employment fell by 11,000 jobs, bringing the total manufacturing jobs losses since Trump entered office up to 28,000.”

Mike Konczal: “This is a bad jobs report. 73,000 jobs would have been worrisome to begin with, but deeply negative revisions to the previous two-months wiped out much of the recent gains. 2025 looks a lot worse the further we get into it.”

Trump and Republicans just passed a bill gutting health care and shuttering hospitals, nursing homes, and medical centers across the country, which will kill hundreds of thousands of health care jobs.

Joe Weisenthal: “Basically the only sectors of the US economy that are adding jobs are healthcare and social assistance. Here’s your 73K jobs just in those two categories.”

Commonwealth Foundation: “Nationwide, 1.22 million jobs could be lost in 2029 due to Medicaid and SNAP cuts. … Nearly 500,000 jobs would be lost in health care (for example, hospitals, physician and clinic offices, pharmacies, and long-term care providers), while the rest would be spread across other sectors of the economy, especially food-related sectors.”

In Trump’s failing economy, inflation for durable necessities hit a 38-year high.

Heather Long, Washington Post: “JUST IN: PCE inflation rose 0.3% in June. That takes the annual inflation increase up to 2.6% (highest since February).

“‘Core’ PCE inflation (excluding food and energy) ticked up to 2.8%

“The most interesting data is WHAT people are and aren’t buying. Take a look at the chart. People are really staying away from cars and car parts out of fear of tariffs.”

Ernie Tedeschi, Yale Budget Lab: “Durable goods have risen in price by 1.7% so far year to date. Other than the depths of the pandemic, that’s the strongest 6-month rise in PCE durables prices since 1987.”  

Trump is plowing ahead with his chaotic trade policy by imposing the highest tariff levels since World War II. 

Bloomberg: “Highest US Tariffs Since WWII Set to Cut Growth, Boost Inflation”

Bloomberg: “The overall US tariff level is now the highest since the 1930s and about six times what it was when Trump took office at the start of this year.

“The hit to the world economy will reach $2 trillion by the end of 2027 relative to its pre-trade war path, Bloomberg Economics projects.”

New York Times: “[F]or firms that depend on global supply chains and markets, the tariffs the administration is imposing or threatening can be more of a harm than a help.”

Bloomberg: “President Donald Trump’s flurry of trade deal announcements are so far proving light on detail — with key aspects still under negotiation, partners giving mixed signals about what they signed up for, and big numbers shrinking under scrutiny.”