US Tariffs Are Stoking Job Fears in China, Morgan Stanley Says

Skyrocketing tariffs imposed on China by US President Donald Trump have pushed up concerns about jobs, income growth and investment losses among households in the world’s second-biggest economy, according to Morgan Stanley.

A total of 44% of consumers fear they or their family members may lose job, according to a survey conducted last week by the US bank immediately after the latest round of tariff escalation between Beijing and Washington. That marked the highest level since the poll was launched in 2020. Some 39% of the respondents said they were more worried about unemployment due to the US tariffs than a year ago.