Navigating Labor Productivity and Tariff Challenges

This chapter analyzes the recent decline in U.S. labor productivity and its implications for GDP, as experts correlate it with trade deficits and business anticipatory behavior regarding tariffs. It also highlights the growing complexities faced by local businesses in Baltimore, particularly hobby stores, due to rising costs from tariffs and the impact on consumer behavior. Despite challenges such as labor strikes and port accidents, the chapter discusses the resilient strategies businesses are employing to adapt to fluctuating economic conditions.