Here you go:
Caterpillar Inc. Vice President Dan M. Murphy stated that the bankruptcy rate of the suppliers of fabricated steel products to Caterpillar has risen by 22 percent over the last 18 months.[4] Many of these supplying firms are small family owned firms who operate in very competitive markets. As �price takers� these firms have very little if any control over the prices they pay for production resources, nor do they have any control over the price they charge their customers. As the tariffs drive the price of steel higher, and with no control over their own prices, the profitability of these firms is reduced, putting them in a very uncompetitive position.
Mr. James M. Jones Vice President of Dixie Industrial Finishing Co. testified that his company�s profitability depends upon the health of the steel consuming industries. The negative impact of the tariffs on this industry has meant that Mr. Jones�s industry is in the worst slump in 40 years.[5] The metal finishing industry employs more than 100,000 workers nation wide. As the firms in this industry face losses, jobs are lost.
Jennifer Johns Friel of Mid-West Fabricating Co., a 58 year old family owned business headquartered in Amanda, Ohio, testified that the disruption in steel supplies that the section 201 tariffs created will cause her small firm to lose five million dollars for the each of the next eight years. The firm lost an important customer who switched to a Canadian supplier.[6]
William E. Baskin, president of the precision Metalforming Association, testified that �Steel tariffs have had a devastating impact on a large segment of the metalforming industry and other steel consuming companies �. costing thousands of jobs and jeopardizing the existence of hundreds if not thousands of small and medium sized manufacturers.� He further stated that a January 2003 survey of member companies revealed that �68 percent of companies had lost work to foreign competitors in the past year."[7]
Indeed, the empirical evidence fully supports the above testimony. In a study done for the Consuming Industries Trade Action Coalition, economists Joseph Fran�ois and Laura Baughman calculate that there were 200,000 lost jobs in the U.S in 2002 due to higher steel prices and that the lost jobs amount to nearly $4 billion in lost wages from February to November 2002. The 200,000 lost jobs are higher than the entire number of people employed in the steel producing industry. Their model estimated a loss of over 10,000 jobs in Ohio.[8] Other empirical studies support their conclusions.[9]
http://www.buckeyeinstitute.org/article/186
You want to see the results of job losses in Steel...take a ride down to Buffalo New York, Warren Ohio, Gary Indiana to name a few...you know how many billions were lost when cheap steel was dumped on the American market? Many of these areas never recovered. I think the figure below says it all: How many billions were lost?
Growth continued at a rapid rate but other industries grew even faster, so that by 1967, as the downward spiral began, steel accounted for 4.4% of manufacturing employment and 4.9% of manufacturing output. By 2001 steel accounted for only 0.8% of manufacturing employment and 0.8% of manufacturing output.