President Trump’s proposed steel and aluminum tariffs aren’t just unpopular—they may have adverse effects on American workers.
According to a study by the Trade Partnership, the tariffs could ultimately cost more American jobs than they would create.
The import tariffs are intended to decrease American reliance on imported steel and aluminum, thereby bringing their manufacture back to the U.S and generating “free, fair, and SMART TRADE!” according to Trump.
But according to the Trade Partnership, although these industries might see a boost, the costs for industries that use these metals for their products would increase. Therefore, while the number of American workers in the metals industry could increase by an estimated 33,464 jobs, the decrease in other industries would be more significant: an estimated 179,334 jobs. This means that the net loss could total 146,000 jobs.
The researchers found that in addition to lost manufacturing jobs, the tariffs would have repercussions for related industries that support manufacturers. The increased cost of steel and aluminum would also increase the cost of the goods in which they’re used. This in turn may negatively affect spending, thereby causing an additional fallout for industries sensitive to consumers’ purchasing habits.