Trade Cases
April 24, 2018
Fed Analysts: Tariffs Could Cost More Jobs Than They Save
Written by Tim Triplett
President Trump’s tariffs on steel imports, designed to protect steel industry jobs, are likely to lead to a net loss in U.S. employment, at least in the short to medium run, contend economists with the Federal Reserve Bank of New York.
The tariffs, and their effects on steel prices, are likely to cost more jobs in downstream industries than they save in steel production, concluded the Fed analysts in an April 19 Liberty Street Economics blog.
