Wednesday, June 6, 2018

Tariffs on steel and aluminum might cost the U.S. 400,000 jobs — and Canada could get hit too

A report released Tuesday finds that the tariffs would increase employment in the steel and the aluminum sectors, but what it shows is that a large number of other workers would lose jobs in the process as higher steel costs ripple through the economy. Trade Partnership Worldwide LLC released the report this week, which claims that over 400,000 jobs will be lost in other sectors of the economy. In addition, almost 7,000 jobs will be lost in agriculture and 20,000 jobs will be lost in manufacturing, and almost 1,000 lost in the energy sector, for a total of 402,445 jobs, the report said. Senators from both parties plan to force President Trump to obtain Congress’ approval before imposing tariffs on national security grounds. 

Noel Corral

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