The Section 232 tariffs on steel and aluminum imports increased production costs, reduced employment, raised consumer prices, and hurt exports. The tariffs saved jobs in steel industries but at a high cost to consumers. The tariffs also raised steel and aluminum prices, disproportionately affecting industries that use these materials. Repealing the tariffs could increase GDP by 0.02 percent and create over 4,000 jobs. Estimates suggest that job losses from the tariffs could be as high as 75,000.
Source Tax Foundation
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