Based on a computer model that is almost as accurate as the climate model that says we went under water in 2010.
Posted on 03/12/2018 10:25:15 AM PDT by Tolerance Sucks Rocks
The Trump administration’s new tariffs on steel and aluminum from abroad could result in more than five jobs lost for every single job gained, according to an analysis from a group that advocates free trade.
The job losses will be direct and indirect, as price hikes will hit American companies that buy international steel to make screws, wires, and machines, Laura M. Baughman, president of the Trade Partnership, said Friday during a Heritage Foundation event.
The Trade Partnership anticipates a net loss of 146,000 U.S. jobs, Baughman said.
On Thursday, President Donald Trump announced steel tariffs of 25 percent and aluminum tariffs of 10 percent. Trump was acting on a Commerce Department report that found steel imports were about four times what U.S. exports are. The Commerce Department further said aluminum imports increased to 90 percent of total demand for primary aluminum.
“When I first heard about these tariffs and the president’s motivation for them, I really had to agree that I thought this was really a proposal of his that was coming from the heart,” Baughman said.
“I can imagine it must be really hard to travel around the Midwest and coal country and everywhere during the campaign and see so many communities that have been decimated and unemployed workers, and the hardship that they are going through,” she added.
The Trade Partnership uses the same economic model as the Commerce Department. However, Baughman said only the job gains were noted in the Commerce report.
The tariffs will increase U.S. employment for the iron and steel sector—mainly for aluminum, according to the Trade Partnership study.
However, the consumer price hikes and price increases for business will cost 179,334 American jobs for the rest of the economy.
There would be more than 36,000 American jobs lost in the manufacturing sectors, including a loss of more than 12,000 jobs for fabricated metals, more than 5,000 lost for motor vehicles and parts, and more than 2,100 in transportation equipment makers, according to the report.
The Trump administration and many labor unions contend that too many imports kill American jobs.
Baughman responds, cheap imported goods might cause job losses, but technology, consumer demand, and other economic changes are also responsible for unemployment in certain sectors.
“It’s so much easier, especially for politicians, to point to foreigners as the cause of all of our ills and therefore call import protections as the solution,” Baughman said. “Way more easier than it is to say, ‘Well, I’m going to take away your technology so that you can have your job again.’”
The tariffs Trump announced would have little impact on China or Russia, said Tori Whiting, a trade economist with The Heritage Foundation.
“The administration has said time and time again that China is the issue with steel, maybe Russia is the issue with steel,” Whiting said during the panel discussion Friday. “These tariffs will not do much, if anything, to impact our imports from China. Two percent of all U.S. steel imports come from China. That’s a statistic from 2016. That number has decreased significantly over the past five to six years because of anti-dumping and countervailing duties that have all but cut off a lot of imports of steel from China.”
Small business will be the hardest hit, said Vanessa P. Sciarra, a vice president with the National Foreign Trade Council.
“If you are a big company, say you are a big beverage manufacturer, you probably can jump and make other supply arrangements,” Sciarra said at the Heritage event.
“But if you are a small fabricator in Michigan or Ohio, and you use a foreign metal because it has been price attractive for you to do that or there has been some relationship you have with this supplier, those supply chains are going to be cut off by these increase tariffs,” she said. “You are going to have a hard time jumping to new sources of supply.”
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Heritage Foundation aka Globalist GOP Open Borders dirtbags. Amnesty Slimeballs.
Not exactly true. The goal is to balance trade...ie, fair trade by squeezing competing economies to reduce there current unfair tariffs and practices. With a long term view, it is better to fight to win and make the enemy surrender.
This from the free trader folks who told us that NAFTA and all the trade agreements since would open up new markets to American made products and create new jobs in America. And, for the few middle aged factory workers who might lose their jobs, why, they’d retrained for the high tech, high paying jobs of the future.
These folks have probably told more lies since the NAFTA debate forward than any other identifiable group of Americans other than Democrat politicians.
Yes, the tarrifs were just announced. Are they trying to say there has already been firings???
The “analysis” assumes facts not in evidence.
Trump set up the tariffs to be implemented at his discretion on a country by country basis.
It is a TOOL to with which to manage trade.
American made screws, you mean the kind that don’t strip their heads when you apply force? Hmmmmm? Its still worth the tariff to get nails that don’t bend when you hammer them into wood and make wrench sockets that don’t strip or break when trying to loosen a nut.
Color me stunned.
“according to an analysis from a group that advocates free trade.”
So a study commissioned by an advocacy group, found results that exactly match what the advocacy group wants to hear????
Shocking I tell you, shocking.
I got an update from a local powdercoating company that I deal with every so often.
They are raising prices 10% across the board because of the tariff.
Eventually I hope to have my own capability.
There is other stuff that is higher priority.
Based on a computer model that is almost as accurate as the climate model that says we went under water in 2010.
This is a joke, right?
Disinformation from the same folks (traitors) that gave us NAFTA, GATT, and have been pushing TPP.....
.....the GOPe class of folks who live so well off Wall Street investments know practically nothing about the meaning of having the opportunity of earning a living through having a real ‘blue collar’ job.....
The ‘born with a silver spoon in their mouth’, PREPPY CLASS have controlled this country far too long......
I don’t believe this.
If raising taxes on foreign goods does this, imagine how much worse it is when income taxes are raised. Now, you know we have virtually no tariffs, so, imagine if the roles were reversed and we had virtually no income tax and we had a 30% tariff—would that not be a much better life for all?
Marxist Mob and/or Globalist rat propaganda.
There are no countries that have free trade.
You can argue tariffs are inflationary but you cannot argue that it will cost jobs. That is so stupid as to be not worth commenting on.
Maybe we should import EVERYTHING and then we would have full employment!! //sarcasm
You can argue tariffs are inflationary buy you cannot argue that it will cost jobs. That is so stupid as to be not worth commenting on.
Maybe we should import EVERYTHING and then we would have full employment!! //sarcasm
With this logic if we stop making anything and import everything we will be in economic nirvana and full employment!
>>The analysis misses the fact that free trade cost 5 jobs for every one gained by tariffs, precisely the reverse.
The Free Trade Globalistas like to cite the fact that new jobs replace lost manufacturing jobs.
Of course, economic theory and the federal government agree that “no net job losses” is true even when a $60k/yr career with benefits is replaced by a part-time job at a convenience store.
Stop with those facts, you globalists, socialist, negative nellie. Trump has got this, now shut and follow along you. Trump's assumption that we have 100's of thousands of ex steelworkers just waiting around and steel companies with billions in capital just ready to purchase equipment and ramp up production. We have neither, so what it's job training and low interest loans to the steel industry? See the slippery slope? Call me cynical but this was a political move if I ever saw one. Please save me the pieties about "What about defense capability and the ability to purchase materials?". We have enough steel making capabilities to make more than enough tanks, Humvees and artillery pieces. this is a bad move and historical data has proven without a shadow of doubt that in the long run leads to trade wars and overall raising prices of consumer durables and other goods. Petulant politics usually leads to unforeseen consequences.
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