Core Insights - The report indicates that tariff increases will stimulate job expansion in the U.S. manufacturing sector, but this comes at the expense of job losses in the service and agricultural sectors [1] - Due to a decline in real wages, the labor force participation rate is expected to decrease, leading to an overall decline in employment rates [1] - By 2028, it is projected that real income in the U.S. will decrease by approximately 1% [1]