Sandra Ulbrich

Main Menu

  • Palladium
  • US Steel Prices
  • Iron Prices
  • Copper Prices
  • Saving Investment

Sandra Ulbrich

Header Banner

Sandra Ulbrich

  • Palladium
  • US Steel Prices
  • Iron Prices
  • Copper Prices
  • Saving Investment
US Steel Prices
Home›US Steel Prices›Steel tariffs against the common good

Steel tariffs against the common good

By Brian D. Smith
September 29, 2021
0
0


September 29, 2021 3:18 p.m. ET

President Donald Trump signs a proclamation to establish tariffs on steel and aluminum imports at the White House, March 8, 2018.


Photo:

leah millis / Reuters

“Climbing Steel Costs Press Manufacturers” (Business & Finance, September 16) correctly notes that tariffs on imported steel contribute to the higher prices faced by manufacturers of a wide range of products, but it omits broadly the extent of this contribution and minimizes the adverse effects of tariffs on the economy.

Rising steel prices are destroying jobs in industries that use steel. More than 12 million Americans are employed in these industries, including about two million in steel-intensive industries. In 2019, a Federal Reserve study estimated that rising steel input costs due to tariffs cost 75,000 Americans their jobs. It is reasonable to conclude that this trend of job destruction continued in the two years following the publication of the study. And those job losses do not include the additional jobs related to U.S. exports lost due to retaliatory tariffs imposed by other countries.

We want and need a strong American steel industry, even if it is not artificially supported by widely felt and job-killing tariffs. There’s a lot of talk these days about whether a particular job report meets or exceeds expectations. But the real standard should be whether we are living up to our potential. This will elude us as long as we continue to protect the few at the expense of the many.

John D. Foster

American Institute of the Metals Supply Chain

Shaker Heights, Ohio

Copyright © 2021 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8

Appeared in the print edition of September 30, 2021 under the title “Steel tariffs against the forgotten common good”.


Related posts:

  1. More than wood: building materials are causing price hikes
  2. Listed solar tracker companies bearing the brunt of the costs, showing little sign of slowing down
  3. Steel nail duties will remain in effect after USITC vote
  4. Soaring raw material costs could delay new US chicken plant

Recent Posts

  • Price hike affecting fireworks | News, Sports, Jobs
  • Sensex and Nifty drop more than 1% after pullback rally fails
  • The return of Mars Volta with a new song “Blacklight Shine”
  • Inflation holds back new infrastructure projects | News, Sports, Jobs
  • European banks rally, iron ore drops 8%, RBA minutes, Graincorp, BHP, Zip Co on watch: ASX higher

Archives

  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • March 2021

Categories

  • Copper Prices
  • Iron Prices
  • Palladium
  • Saving Investment
  • US Steel Prices
  • Terms and Conditions
  • Privacy Policy