President Trump's proposal to impose tariffs on steel and aluminum might be good politics and shore up his support in the Rust Belt states, but it is bad economics which won't bring steel jobs back to America much less keep them here.
After all when President Bush imposed steel tariffs in 2002 it increased unemployment killing approximately 200,000 jobs, increased domestic steel prices, decreased economic growth and started a trade war & a $2 billion fine by the WTO. Bush would abandon the policy in December 2003, only 21 months after it was implemented. How can Trump implement the same policy and expect a different result?
Actually, Trump's tariffs go much further than Bush's did as it includes Canada and Mexico. Bush exempted them because they are a party to NAFTA. Trump's shift in policy threatens NAFTA, threatens relations on the continent and also threatens to do far greater damage economic damage than Bush's ever did.
Of course, none of this might leave any impression on voters in the Rust Belt states who will likely perceive that Trump is sticking up for steelworkers and see fit to re-elect him in 2020. The reality is that this policy will harm Rust Belt residents the most. Not only will Trump's tariff policy not bring back steel jobs it won't save the steel jobs we have now.
I hope the people of Michigan's Lower Peninsula, Pennsylvania, Ohio, Indiana, West Virginia and parts of Wisconsin, Illinois, Iowa and even Trump's home state of New York won't have to learn this the hard way. But if they do I hope they learn in time to vote Trump out of office.
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