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US steel production up 5% last yr (90M tons), steady since 2010; profits/stocks up
US already has 160+ special duties on steel imports
Most imports come from US allies (China = 11th)
DoD needs only 3% of US production
Consumer co workers outnumber steelworkers 45:1
#TariffTantrum
US already has 160+ special duties on steel imports
Most imports come from US allies (China = 11th)
DoD needs only 3% of US production
Consumer co workers outnumber steelworkers 45:1
#TariffTantrum
US producers still have over 70% of the US market (also steady)
Global tariffs opposed by Mattis, Mnuchin, Tillerson, Cohn & Congress
US trading partners have already vowed retaliation
Natsec tariffs will imperil the global trading system
#TariffTantrum
Global tariffs opposed by Mattis, Mnuchin, Tillerson, Cohn & Congress
US trading partners have already vowed retaliation
Natsec tariffs will imperil the global trading system
#TariffTantrum
Bush steel tariffs (which were smaller/narrower) cost over 200k US jobs (net): tradepartnership.com/pdf_files/2002…
Other US efforts to restrict steel imports annually cost US consumers up to $2.3M for every US steel industry job protected: cato.org/blog/no-mr-pre…
Other US efforts to restrict steel imports annually cost US consumers up to $2.3M for every US steel industry job protected: cato.org/blog/no-mr-pre…
