US steel tariffs likely to damage labour market – NY Fed research
Exporters who need steel imports face higher input costs, possibly leading to lower employment
The tariffs on steel imports announced by president Donald Trump’s administration in March are likely to have a negative net effect on the US labour market, research published by the Federal Reserve Bank of New York finds.
In Will New Steel Tariffs Protect US Jobs?, Mary Amiti, Sebastian Heise, and Noah Kwicklis argue these protectionist measures will increase costs for US exporters who rely on steel imports.
Trump announced the new tariff of 25% on steel imports with the aim of protecting
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