President Trump’s tariffs on Chinese imports will result in the loss of more than 94,000 jobs, according to a new estimate from the nonpartisan Tax Foundation that incorporates the latest round of of tariffs hitting $200 billion worth of Chinese goods announced Monday.

The analysis also finds that the tariffs will modestly shrink the economy and reduce wages. Altogether, the levies could hurt the economy more than the GOP-passed tax cuts aided it, the Tax Foundation concludes.