Steel Tariffs Do Not Create New US Jobs

Steel tariffs imposed by Trump provide higher profits, as some domestic companies may expand operations to meet the additional demand created by tariffs, but this is unlikely to lead to significant employment growth.

Since manufacturers have increased production efficiency to the point that a ton of steel that required 10 people to produce in 1980 now requires only two people.

While the profits of companies in the S&P 500 Steel Index increased by 75 percent during the first half of 2018 and is expected to increase by 166 percent in the second half of the year.