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It’s hard to see tariffs on steel (say) not raising wider domestic prices. Any domestic industry using steel (car making, house building etc) presumably now has
by vmilner 2y ago
It’s hard to see tariffs on steel (say) not raising wider domestic prices. Any domestic industry using steel (car making, house building etc) presumably now has to pay more for its steel which feeds through to consumer prices. You might increase the number of steel worker jobs but at a hidden wider cost to the wider US economy.
- SpaceNoodled 2y agoUS homes tend to be built with lumber, not steel.
- skyyler 2y agoWhat do you think holds the lumber together? US homes tend not to be built with Japanese techniques.
- Domenic_S 2y agoWe already have Section 232 tariffs on steel and aluminum imports, and have since March 2018. These new tariffs exclude steel (since we tariff it already).
- vmilner 2y agoHowever, the widely used tariff exemptions available to US steel consumers who could claim difficulties sourcing cheap steel are now being closed.