CNN reporter Matt Egan said earlier today that new data proves that the president’s tariff policies are “backfiring completely” against the administration’s stated goals of creating more jobs and an American manufacturing renaissance.

The president imposed a universal 10% tariff on all foreign goods that went into effect on April 5. In August, he implemented various tariffs — ranging from 15% to 50% — on different countries.

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Recent government statistics show that the economy only added an estimated 22,000 jobs in August, the unemployment rate rose to 4.3% (the highest level in four years), and the manufacturing industries that are most exposed to tariffs from imported resources and machinery — like mining, logging, construction, and manufacturing — are losing jobs, CNN reported.

“If you look at those tariff-exposed industries, they started losing jobs shortly after this trade war started, and it’s continuing,” Egan said.

“This is the exact opposite of what the White House is looking for,” Egan continued. “They’re trying to engineer this American manufacturing renaissance, they’re trying to cause a jobs boom – that has not happened. Economists say, at best, that effort is off to a slow start, but at worse, it’s actually backfiring completely, that it’s been counterproductive because you’re causing a lot of uncertainty.”

Egan noted that companies are hiring less, laying off workers, and purchasing fewer goods because they’re still waiting to understand all of the new tariffs’ economic consequences.